Bequest: A Lasting Gift
The late Samuel "Doc" Gordon, seated, pictured with representatives from JFCS who helped him during his senior years. Dr. Gordon left a bequest in his will to establish an endowment fund benefiting JFCS for future generations.
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A legacy gift (bequest) in your will can create a lasting legacy for future generations. Here are some reasons why legacy gifts are so vital:
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Simplicity: A bequest is easy to establish in one's will (see below for more information)
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Low cost: If you are in the process of having a will or trust created, adding language for a bequest can easily be included; or you can work with your estate attorney to add a codicil (amendment) to an existing document, often at minimal or no additional cost
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Tax benefits: Bequests serve as a way to potentially reduce the impact of estate taxes upon your passing. Please discuss this with your estate attorney or accountant to determine the implications of your gift.
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Flexibility: You can leave a fixed dollar amount or a percentage of your estate, whichever best suits your plans
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Legacy: Your bequest to the Jewish Community Foundation, Inc. can help you establish a philanthropic legacy by creating an endowment fund that will live on for many future generations
The JCF is fortunate to have many individuals who have left a legacy gift to establish endowment funds, benefiting the community for future generations. Your bequest to the JCF will ensure that you provide an annual gift to your beloved non-profit(s) for many years via an endowment fund. Please contact Seth Mirowitz at 856-673-2521 to talk more about this key estate planning initiative.
Gifts through Wills & Bequests
You may create an endowment fund with the Jewish Community Foundation through your will or you may leave an outright charitable donation of cash or appreciated assets. Your bequest may be unrestricted, may add to an existing endowment fund of the JCF, or may establish a new designated endowment fund. A charitable bequest may be deductible in determining the amount of your estate taxes. If a will is already in place, a simple codicil (an amendment) can be written.
Suggested Language for a Will or Codicil:
I hereby give, devise, and bequeath the sum of $_______ (or _____% of my estate) to the Jewish Community Foundation, Inc. (1301 Springdale Rd, Cherry Hill, NJ 08003), to establish the "Name of Donor Endowment Fund." The JCF is a non-profit corporation organized and operating under the laws of the State of New Jersey, and the EIN for the JCF is 20-1260545.
Five percent (5%) of the total value of the Fund is to be used on an annual basis to make a gift to the ______________(insert name, address, and EIN of each selected beneficiary non-profit organization)____________.
By including the two preceding sentences in your estate plans, you will create an endowment fund to support your preferred charitable cause. The JCF then administers your fund, ensuring that a percentage of the principal is distributed annually, for years on end.
The endowment fund you create can be directed to organizations or causes such as:
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Jewish Community Foundation's Community Fund for Grants for new and innovative programs
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Jewish Federation of Southern New Jersey's JFund
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Your temple or synagogue
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Any Jewish or secular, local or national 501(c)(3) non-profit that you are passionate about (museum, school, animal shelter, etc.)
The Jewish Community Foundation, Inc. does not provide legal advice. The information above is for illustration purposes only and should not be construed as tax or legal advice. Please consult your legal representative or financial consultant to determine the implications of your prospective gift.
We invite the opportunity to talk with you and/or your professional advisor with any questions you may have about leaving a bequest. Please contact us today at 856-673-2582.
Thank you.