Annual Report - the Jewish Federation of Omaha Foundation ...

14
Creating a Legacy
The Foundation offers a number of services
to the Omaha donor community.
Donor-Advised Fund
a separate fund created by a donor (or family) at the
foundation. the donor signs a simple letter agreement and
contributes funds to the foundation. the contribution is
immediately tax deductible. the donor may then advise the
foundation regarding donations which the donor would like
to make from the account. the foundation then makes the
donation in the name of the specific donor-advised fund.
the foundation invests the funds, makes the donations, keeps
the records, reports to the donor and otherwise administers
the fund. Donations can be made to any charitable entity,
including those outside the Jewish community, and anywhere
in the world.
Unrestricted Endowment Fund
a separate endowment created by a donor (or family) at the
foundation, the income of which can be used by the federation
and its agencies for all purposes. the donor signs a simple
letter endowment agreement and contributes funds to the
foundation. the contribution is immediately tax deductible.
the funds are invested by the foundation. Disbursements are
made automatically by the foundation to the federation for its
unrestricted general use.
Restricted Endowment Fund
a separate endowment created by a donor at the foundation,
the income of which can be used by the federation only for
designated purposes or agencies (such as the blumkin Home,
Jewish family service, Kripke library, scholarships). the
donor signs a simple letter endowment agreement (setting
forth the endowment instructions) and contributes funds to the
foundation. the contribution is immediately tax deductible.
the funds are invested by the foundation. Disbursements
are made periodically to the designated agencies or for the
designated purposes upon application to the foundation
consistent with the endowment instructions.
Charitable Remainder Trust
a separate trust created by a donor generally providing for
lifetime income to such donor (and/or spouse), with remainder
interests to the federation and/or certain agencies specified by
the donor. a determined percentage of the funds contributed to
the trust are tax deductible. a corporate trustee holds, invests
and distributes the funds during the life of the donor. after the
donor’s (or spouse’s) passing, the trust assets are distributed as
directed by the donor in the governing trust document.
“The value of a man resides in what
he gives and not what he is capable
of receiving.”
- alBert einstein
Supporting Foundation
Lorraine Reiss and Sylvia Swartz at the
Blumkin Home River City Roundup event.
a separate legal entity (with a separate board) created by
a donor or family, which entity enters into a relationship
with the foundation whereby the foundation manages
and invests such entity’s funds, administers operations
and makes disbursements as directed from time to time
by the supporting foundation board.
PACE/LOJE Fund
a separate endowment created by a donor at the
foundation, the income and/or principal of which is
to be used to fund future contributions to the omaha
Jewish federation annual campaigns. the endowment
need not be funded at inception. Instead, a provision in
the donor’s will, trust agreement, life insurance policy,
IRa account or other deferred account will cause the
endowment to be funded on the donor’s passing. the
real, after-tax cost of establishing such an endowment
upon passing in most cases will be modest in relation to
the significant ongoing benefit to the federation and our
community.