Philanthropic Funds are an alternative to a private family foundation because they allow you to make recommendations for distribution of income and principal from your fund to IRS-approved tax-exempt organizations. You can establish a named philanthropic/donor advised fund with a minimum gift of $10,000 (payable in five years or less). You may distribute any amount to any charity of your choice (Jewish or non-Jewish), in your name, as long as the balance in the fund does not fall below $10,000.

The Foundation administers the funds, invests the assets, keeps records and writes checks to the charitable organizations, which you have recommended. You will receive quarterly statements describing your fund’s activity. In addition, the designated charities will receive a letter stating that the donation came from your fund.

If you are someone who gives to multiple charities this can reduce your tax paperwork—the only record you will need is the total amount contributed to your fund!

Donations to your Philanthropic Fund are immediately tax deductible—yet you may make your gifts over time. In addition, you can make your donation with long-term appreciated property and receive an income tax deduction for the full fair market value of the property —without having to pay capital gains tax.

We Do It Better!
Many commercial institutions also have donor advised and philanthropic funds. The advantage to establishing your fund with the Jewish Foundation is 1. We only charge a 1% administrative fee, far lower than the banks; 2. we have great rates of return; 3. we have personalized service; 4. When you invest with us you are helping your community!
For more information please contact Lisa A. Stanger, Esq., Director, Jewish Foundation of Greater New Haven at 203 387-2424 x382 or lstangeewishnewhaven.org