Living Generously L E G A C Y
E D I T I O N Winter 2014
VALUES we are strong today
and grow stronger
What will your Jewish legacy be? Jewish Federation OF CLEVELAND
Jewish Federation OF CLEVELAND
What will your Jewish legacy be? Create Your Jewish Legacy is an ongoing effort to substantially increase our endowment funds in the next several years. We strive to help individuals and families support Jewish causes and institutions they care about, now and in the future. Whether your legacy gift is established through a current gift or through your estate plan, you’ll become a member of the Federation’s Legacy Society. With your Jewish legacy gift, you’re investing in the future of the Jewish community – your children and grandchildren, the Federation, our partner agencies, synagogues and causes that are most important to you. Above all else, you become a role model for future generations, creating a bright future, l’dor v’dor – from generation to generation.
What Jewish values do YOU want to sustain? Dear Friends, Like most of you, we have been steadfast supporters of the annual Campaign. Because we care deeply about perpetuating the values that have guided our actions thus far, each of us has also created a personal Jewish legacy gift, ensuring our values will continue for generations to come. We believe the Federation’s Create Your Jewish Legacy initiative is essential to the future of our community – the needs of today have grown beyond the scope of the annual Campaign allocations and the funds available in the Federation’s endowment funds. There are as many reasons and ways to create a legacy gift as there are those who have made them. Some of the stories are shared in these pages, more can be found on the Federation’s website at www.jewishclevelandgifts.org. So, take a look and then get in touch. We welcome your questions as you consider creating a Jewish legacy gift of your own. Sincerely, Tom Adler
Co-chairs, Create Your Jewish Legacy To learn more about creating your Jewish legacy, please contact Carol Wolf, senior development officer, at 216.593.2805 or firstname.lastname@example.org.
A legacy of giving back Toby and David Goldfinger
hen the children were young, we would pile into the car and visit some of the rougher neighborhoods,” recalls David Goldfinger. “We used the city to teach many of life’s lessons, like why being a part of a community and helping those less fortunate matters.” David and Toby Goldfinger, originally from New Jersey, settled in Cleveland in 1961 when David was hired as a manufacturers representative. With no family or friends in town, the couple looked to the community to be their lifeline. Through the Federation, David made connections that grew his business, as well as the couple’s social network. It was with these friends that the Goldfingers first traveled to Israel. Toby recounts the dramatic impact of greeting a plane load of Russian immigrants. “My heart fell open. All I could think about was my grandparents’ foresight in leaving Russia at the right time.” It was after this event that Toby became a Lion of Judah. Years later she was inspired to endow her gift. “I want the amazing history of the Jewish people to continue... pogroms, the Holocaust... there must be a reason we keep surviving. We must continue to give to ensure our future.” In the early years, making a gift to the Federation created a framework on which to build their lives. “Today it’s about being able to give freely, with no reservations,” the couple reflects. “We want our children and grandchildren to continue our legacy of giving and caring for the Jewish people. We have modeled this behavior all of our lives – we hope giving has become secondary to them.” Forty some years after those family car rides through the city streets of Cleveland began, Toby and David’s daughter overhears an elderly couple in the grocery store distressing about how to prepare a Passover meal for just the two of them. She invites them, on the spot, to celebrate Passover with her family. A rich inheritance, L’dor V’dor – from generation to generation.
Jewish Federation OF CLEVELAND
How can you become a member of the Legacy Society? • Name the Jewish Federation of Cleveland as a beneficiary in your will or trust, as a beneficiary of all or a portion of a qualified retirement plan account, or a life insurance policy • Create a charitable trust, gift annuity or other deferred gift arrangement for which the Federation is the beneficiary • Establish a Lion of Judah Endowment or FOREVER Fund to perpetuate your annual Campaign gift • Create an endowment fund in your name or in honor or memory of a loved one • Establish a Federation supporting foundation For more information about Legacy Society, contact Carol Wolf at 216.593.2805 or email@example.com.
Celebrating the Art of Living Generously
Event chairs: Ed & Gail Weintraub, Betty Weintraub and Fran & Sid Lasky
egacy Society Members and Major Gifts Donors are invited to special events throughout the year. This year, donors were dazzled by a performance from award-winning actor, playwright and concert pianist Hershey Felder who returned to the Cleveland Play House with his latest composer creation, Maestro: Leonard Bernstein. At the event, donors had the opportunity to sign their Endowment Book of Life statements which are on display at the Federation.
Dan Abrams & Nan Cohen
I am fortunate to be able to give a meaningful gift to the Jewish Federation of Cleveland on an annual basis...To be able to endow my Lion of Judah gift means that long after I am here, our community will continue to grow and thrive.” - Excerpt from Suellen Kadis’ Endowment Book of Life statement
The Endowment Book of Life is a collection of personal statements from donors who have made commitments of $100,000 or more to the Federation’s Endowment Fund.
Larry & Suellen Kadis
Tom & Joanie Adler and Enid & David Rosenberg
Sam & Rina Frankel
Nancy & Rik Kohn
Bob & Eileen Sill 7
How the Federation’s Endowment Fun
Granted nearly ¾ of a million dollars each year (for three years) to supplement the decrease in annual Campaign giving due to the economic downturn. “The needs were rising exponentially – whether it was responding to job loss and foreclosures, or government funding cuts for critical social service programs – the dollars weren’t there. The power of the collective really shone through for this community.” – Susie Bichsel, Executive Director, Jewish Family Service Association
Builds community through innovative programs like our Public Education Initiative (PEI) and Jewish Volunteer Network (JVN). “These are great kids who are struggling in school. How can we let them be left behind in society? To have a chance, they have to be able to read.” – Marc Jaffe, PEI tutor, Buckeye School, Cleveland Municipal School District
Helping Change the World Develops strong Jewish identities by funding programs like Birthright Israel and Jewish camping grants “It felt incredible to complete difficult hikes, swim in the Dead Sea, ride camels, and learn about Bedouin culture, plus perform community service projects. It allowed us to give back to Israel while we were there.” – Celia Lupton, Birthright participant
Afforded immediate emergency funding to Israelis under attack, as well as financial support to survivors of hurricanes Katrina and Sandy. “Thanks to the generosity of Cleveland, we hosted residents from the South of Israel who were living under constant rocket threat from Gaza. This reprieve provided a much needed sense of safety and community.” – Dror Gershoni, Cleveland-Beit Shean Partnership 2000 Director
Barry became a member of the Federationâ€™s Legacy Society by establishing a Donor Advised Fund. The assets in the fund will be used to create a bequest that will support the Federationâ€™s Endowment Fund in perpetuity. 10
Donor Advised Funds: A First Step To Family Philanthropy A donor advised fund (philanthropic fund) is a named fund of the Jewish Federation of Cleveland in which you as the donor advisor make recommendations for charitable grants from the fund.
he Federation’s Donor Advised Fund program was established to provide donors with an easy tool for charitable giving that has additional benefits such as tax savings and accurate record keeping. Less known, but equally important, is that a donor advised fund can also be the first step toward intergenerational philanthropic planning. Many donors use the fund to include family members in the charitable discussion, demonstrating to them their personal values and the importance of philanthropy. Some donors allow their children to recommend grants of a certain amount each year, and others gather at holiday dinners to make philanthropic choices together. Either way, the fund is a wonderful catalyst for family philanthropy.
Donor Advised Fund Benefits • Income is earned on all donations to the fund • All income generated by the fund is tax-free • An immediate tax deduction is earned for the amount of the initial gift • May be used to create endowments in perpetuity
Regarding estate planning, donor advisors can recommend that the fund’s assets be granted to specific charities upon their deaths or they may allow the fund to support the Federation’s Endowment Fund in perpetuity. Donors may also leave bequests to their funds, giving their heirs the privilege to make grant recommendations of their own choice or continue to support the charities of the original donor. Donor advised funds provide an excellent tool for current giving, but they are also an effective first step to creating a meaningful philanthropic plan that benefits both the donor and the community.
A bequest is an easy way to create a legacy gift What is a bequest?
A bequest is a legacy gift, distributed from a donor’s estate after the end of his or her life. A bequest can be designated to a certain interest or area, or can be undesignated to ensure the most pressing needs of the community are met.
How do I make a bequest?
If you already have a will in place, your attorney can prepare a simple amendment. Donors with bequests of any amount are recognized as members of the Federation’s Legacy Society.
EXAMPLES Please share this language with your legal counsel. A Federation professional would be happy to discuss the financial, tax and legal issues and implications of establishing a charitable gift plan with you and your professional advisor.
To make an unrestricted bequest to the Federation: I give $ ______ (or specified property) to the Jewish Federation of Cleveland, Cleveland, Ohio. To make a specific bequest to the Federation: I give $_____ (or specified property) to the Jewish Federation of Cleveland, Cleveland, Ohio, to establish a fund to be known as the “___________ Fund,” subject to the Federation’s rules governing the operation of endowment funds, the annual distribution from which shall be used to support (choose one or more): • the Federation’s annual Campaign for Jewish Needs; • the Federation’s unrestricted endowment fund; • a specific area of interest (e.g., Jewish education, children at risk, homelessness); • a particular partner agency or agencies of the Federation. To add a bequest to an existing fund of the Federation: I give $_____ (or specified property) to the Jewish Federation of Cleveland, Cleveland, Ohio, to be added to the ________ Fund,” subject to the Federation’s rules governing the operation of endowment funds.
“We are deeply saddened at the loss of our esteemed Co-chair Hersch Koblenz. Hersch’s vision and leadership were instrumental in creating the Create Your Jewish Legacy initiative and will continue to guide us as we move ahead. He will be sorely missed by all of us.” – Sandy Wuliger, Create Your Jewish Legacy Co-chair
A legacy lives on
Maxine and Hersch Koblenz
We came to Cleveland fifty years ago when we were in our mid 20s, and we were immediately swept into the Cleveland Jewish community especially the Federation and its multitude of activities. While we would like to believe that our participation has benefited the community, we know that it has benefited us and made our lives richer and more fulfilled. We knew that we wanted to continue to support this community - our community - for years to come.
- Hersch Koblenz (z”l) excerpt from a Create Your Jewish Legacy Initiative presentation to the Board of Trustees, February 2013
Reneé Chelm, Board Chair
JEWISH L E G A C Y initiative is essential to t h e f u t u re
of our co m m u n i t y.
Creating your Jewish legacy is a personal journey – for each person the reason for doing so is different. What ultimately led me to a decision to endow my Lion of Judah gift took root in my childhood. My journey began with the strong values that my parents instilled in me. As a young adult, my late husband and I became Jews by choice. I learned that those same values taught to me growing up were the foundations of Jewish life – hesed, tzedakah, and tikkun olam. Years later, on a Federation mission to St. Petersburg with my husband Kerry, I realized how fortunate I was to have chosen to be Jewish in Cleveland. Unlike in Cleveland where I found support from an established community, the Jews of St. Petersburg were building identity from scratch. I endowed my gift so that future generations of Jewish Clevelanders will always have a community to support their identity and Jewish journey.
Jewish Federation OF CLEVELAND
is a 110 year old community cornerstone that aspires to leave no community member behind. Rooted in traditional Jewish values, we commit our values into action every day. By honoring and respecting those who have come before us, and paving the way for those who will come after, we exist to build a better world and care for those who share it.
Traditional Jewish values
of justice (tzedek), repairing the world (tikkun olam), acts of loving kindness (gemilut hesed), and Jewish peoplehood (klal yisrael)
for the individual and for different expressions of Judaism and Jewish life
Individual and communal
for the well-being of the members of our community Commitment to
and its people Importance of collective
Commitment to Jewish
learning and education
Learn more at www.jewishcleveland.org 15
Jewish Federation OF CLEVELAND
Mandel Building 25701 Science Park Drive Cleveland, Ohio 44122-7302
What Jewish values do you want to sustain? Find out more about Creating your Jewish Legacy through the Jewish Federation of Cleveland. Contact Carol Wolf at 216.593.2805 or e-mail firstname.lastname@example.org for an individual conversation.