We've Created Our – Have You? - Jewish Foundation of Memphis

Jewish Legacy
– Have You
We've Created Our
Help define the future of the Memphis Jewish
community through a gift in your estate
for more information, contact Alyson Chensasky
901.374.0400 • www.jfom.net
JEW ISH
FOUNDATION
OF MEMPHIS
6560 Poplar Avenue,
Memphis, TN 38138
NONPROFIT
ORGANIZATION
U.S. POSTAGE
PAID
MEMPHIS, TN
PERMIT NO.374
An Endowment
is Forever
www.JFOM.net

JEW ISH
FOUNDATION
OF MEMPHIS
Volume XII, Number 1
Summer 2013
Partner Agencies
Anshei Sphard-Beth El Emeth
Congregation
Baron Hirsch Congregation
Beth Sholom Synagogue
Bornblum Solomon
Schechter School
Jewish Family Service
Margolin Hebrew Academy/
Feinstone Yeshiva of the South
Memphis Jewish
Community Center
Memphis Jewish Federation
Memphis Jewish Home
and Rehab
Temple Israel
Kay Saslawsky
President
Laura K. Linder
Executive Director
Josie Ballin
Director of Marketing
and Programming
Alyson Chensasky
Director of Legacy Gifts
Sheri G. Gadberry
Business and Donor
Advised Fund Manager
Rachel and Anthony Morrison Create a Jewish Legacy
Is there a perfect time to create a Jewish
Legacy for the Jewish community One could
answer that any time is ideal. For Anthony
and Rachel Morrison, the ideal time presented
itself during a simple conversation.
“Rachel and Anthony are very passionate
about and generous to our community,” said
Alyson Chensasky, director of legacy gifts for
the Jewish Foundation of Memphis. “It is a
natural progression for them to think about
creating a Jewish legacy. The Morrisons wanted
to do something now to demonstrate to the
community and to their children the numerous
ways in which families can leave a legacy
regardless of age.”
The parents of two daughters, Julia, 15 and
Molly, 13, Anthony and Rachel agree that their
own parents have been positive role models
through the commitments they have made to
the Memphis Jewish community. They want to
do the same for their daughters.
Using retirement assets to be distributed after
their lifetime, Anthony and Rachel Morrison
created their Jewish legacy to support their
favorite local Jewish agencies, (pictured with
daughters Julia, 15, left and Molly, 13 right)
“Rachel and I generally focus our efforts on
current giving,” said Anthony. “We give to our
synagogue, to Federation and other Jewish
agencies. When we met with Alyson it felt great
to have a conversation about legacy and to really
feel like we are doing something positive for the
long term benefit of the Jewish community.”
"Leaving a Legacy Gift
makes you feel like you’re
really doing something for
the long-term benefit of the
Jewish community."
He continued, “Legacy giving allows Rachel and
me to model the behavior our parents taught us.
We hope our children will follow our lead and
keep the legacy going.”
Morrison has served on many boards in
the Memphis Jewish community including the
board of the Jewish Foundation. He currently
serves on the executive committee of Memphis
Jewish Federation.
“I’ve fought for agencies on Federation's
allocations committee, and I see what the needs
are on the front lines. I like to show others
that any of us can make a real difference in our
community’s future.”
“It’s never too early to think about your
legacy. Our gift may not materialize for 40 years
or more but people in our generation need to be
involved in the community. It’s our turn to step
up,” concluded Morrison.
Deferred gifts are established in your will or
estate plan and occur after your lifetime. Every
adult should have a will, and every adult can
leave a legacy.
If you would like to learn more about
legacy giving, please go to www.JFOM.net
and click on Create Your Legacy, or call JFOM
director of legacy gifts, Alyson Chensasky, at
901.374.0400.
6560 Poplar Avenue, Memphis Tennessee, 38138 | 901.374.0400 | 901.374.0451 fax | www.jfom.net | jfom@jewishfoundationofmemphis.org

Why Legacy
Create Your Jewish Legacy is designed to strengthen the financial sustainability of the Jewish
community by training leadership of communal organizations to reach out to their long-term donors
for legacy gifts. A legacy gift is a gift to a permanent endowment fund of the Jewish community.
Organizations participating in the Jewish Foundation’s
Create Your Jewish Legacy program are:
Anshei Sphard-Beth El
Emeth Congregation
Baron Hirsch Congregation
Beth Sholom Synagogue
Bornblum Solomon Schechter School
Jewish Family Service
Margolin Hebrew Academy/Feinstone
Yeshiva of the South
Memphis Jewish Community Center
Memphis Jewish Federation
Memphis Jewish Home and Rehab
Temple Israel
Leadership from each of these organizations is
participating in educational seminars and training
sessions and working with Jewish Foundation of
Memphis staff to develop strategies to reach out to
their donors for legacy gifts. Each of these
organizations is eligible to receive an unrestricted
grant of $20,000 from the Jewish Foundation of
Jewish Foundation of Memphis board president, Kay Saslawsky,
Baron Hirsch Congregation board president, Irvin Skopp and Baron
Hirsch executive director David Fleischhacker sign the Create Your
Jewish Legacy partnership agreement to promote deferred giving
among its membership. Each of the JFOM ten partner agencies have
signed CYJL partnership agreements.
Memphis for successful participation in the program.
Funds to support the operating needs and incentive
grants for Create Your Jewish Legacy come from:
Ronna & Hal Newburger, the domestic endowment
fund of Jewish Federations of North America, the
Harold Grinspoon Foundation’s Life and Legacy
program and an anonymous local donor.
The first step in creating your Jewish legacy is a meeting with your
professional advisor. He/she can help you consider the following:
Is there an asset that is best utilized for making charitable gifts
What are the tax implications of this gift
How will this gift impact what I am able to pass to my heirs
If I change my mind can this plan be altered
What if my circumstances change and I am not able to make the gift
Should I establish my legacy gift as part of my estate plan or should I
make the gift while I’m living
The Jewish Foundation of Memphis is not engaged in rendering legal or tax advisory services. Individuals considering legacy gifts to the
Foundation or to participating organizations should obtain the services of a financial advisor, such as an attorney, certified public accountant
or chartered life underwriter.
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Why Now
You can Create Your Jewish Legacy by making a gift to an endowment fund either during your
lifetime using cash or another marketable asset or at the end of your life through your estate.
Cash
Cash contributions are always accepted and are fully
deductible up to 50% of a donor’s adjusted gross income
(AGI)
Securities
Gifts of securities that have been held for more than one
year make great charitable gifts. Donors receive a charitable
deduction for the full fair market value of the gift, and, if the
securities have appreciated, can generally avoid the capital
gains tax that would be due if
the asset was sold by the donor.
Real Estate - Minimum
$25,000 (or $15,000
for vacant land)
JFM Realty was established
to accept charitable gifts of
real estate in support of
local Jewish organizations.
Property with an appraised
value of $25,000 ($15,000
for vacant land), good
marketable title, and with
no environmental problems
make ideal charitable gifts.
Assets to Create
Your Jewish Legacy
Which is the Best Asset to Use
a. Appreciated Stock
b. A seldom used vacation home
c. A valuable piece of artwork
d. A prized collection of porcelain figurines
e. Life Insurance Policy
f. All of the Above
answer: f. All of the Above
Collectibles - Minimum $10,000
Gifts of collectibles such as artwork, coins
and sports memorabilia can make an ideal
charitable gift. The JFOM has the ability to
work with you on all types of assets.
Life Insurance
Gifts of life insurance are an excellent way
to leave a lasting legacy for the community.
This can be accomplished by purchasing a
new life insurance policy or by naming a
favorite charity (or the Foundation) as the
owner and beneficiary of an existing policy.
The Jewish Foundation of Memphis is
owner of approximately 30 life insurance policies with a
combined death benefit of $6 million.
Bequests
Bequests are fully deductible for estate tax purposes, and a
bequest may be included in a new will or added to an
existing will through a simple codicil. Gifts may be stated in
terms of a specific amount or asset, a percentage of one’s
estate, or the remainder of one’s estate after all debts, taxes,
expenses and other bequests have been paid.
Retirement Assets
Retirement plan assets left to heirs,
often are subject to both income tax
and estate tax. With the growth in
retirement and pension plan
investments, many donors are
naming charitable organizations as
beneficiary of all or a portion of their
retirement accounts.
Life Income Gifts -
minimum $100,000
($25,000 for Charitable
Gift Annuities)
Donors wishing to make a gift that
provides income for themselves or a
loved one may establish a Charitable
Remainder Trust or a Charitable Gift Annuity. These gifts
will pay income to the donor (or a named designee) for life
or a term of years. The trustee will then distribute the
remaining assets to the Foundation or to the charity of the
donor’s choice.
Charitable Lead Trusts - minimum $500,000
Donors wishing to make lifetime gifts to charity, accelerate
charitable deductions, and maximize the children’s
inheritance may consider a Charitable Lead Trust. Assets
are transferred into an irrevocable trust and a charitable
beneficiary is named to receive fixed annuity payments
from the trust for a specified number of years. At the end
of the trust term, the balance of the trust passes to heirs.
For more information about how you can Create Your Jewish Legacy, contact
the Jewish Foundation of Memphis • www.JFOM.net • 901.374.0400
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