LV endowment fund distributions increase over last year By Mike Miller Lehigh Valley Jewish Foundation Chair and Aaron Gorodzinsky Director of Development The mission of the Lehigh Valley Jewish Foundation (LVJF) Endowment Fund is to support the Jewish Federation in honoring the Jewish values of tzedakah and tikkun olam (charitable giving and repairing the world) by providing a community endowment fund for collecting permanent resources and facilitating planned giving to support Jewish causes and provide opportunities for donors. The LVJF supports the
Federation’s distribution of funds annually, and for other purposes, to: 1) care for people in need here at home, in Israel, and around the world, and 2) nurture and sustain the Jewish community today and for future generations. At the last endowment committee quarterly meeting on May 1, the committee approved a 4.6% distribution for legacy philanthropic funds to a variety of beneficiaries recommended by donor advisors for each of their funds. The dollar amount was $189,000 and was based on a three-year average value of the funds. This amount was slightly more than the
previous year’s distribution dollars. The committee also approved a 4.6% distribution for restricted and designated funds to be used in accordance with the restrictions and designations of the donors of the funds. Some of those distributions were to be used to supplement the Federation’s Annual Campaign for Jewish Needs. At the May 1 meeting, the committee approved a dollar amount of $281,000, also based on a three-year average value of the funds. This amount was a $23,000 increase over the previous year. Also approved was a
5.25% distribution for unrestricted funds, after covering endowment annual operating expenses on a break-even basis, to be used to supplement the Federation’s annual campaign for purposes that would be recommended by the Federation’s allocations committee and approved by the Federation board. At the May 1 meeting, the committee approved a dollar amount of $304,000, also based on a three-year average value of the funds. This amount was a $30,000 increase over the previous year. Our endowment fund performance has been excellent and has exceeded our
guidelines for many years. By giving during our lifetimes, and on a testamentary basis, we get to share our passions, provide a legacy, and see and feel the value of our philanthropy for today and for future generations in perpetuity. Judaism teaches the belief that donors benefit from tzedakah as much or more than the beneficiaries. There are many opportunities to do this through the variety of fund offerings in the endowment fund. See LVJFgiving. org for more information.
making many rates the highest they’ve been in 16 years. The advantages of a CGA are: • Income tax deduction the year the gift is made • Possible lower tax bracket in the year of the annuity income • High annuity rates • Fixed income payments for your lifetime • Support the future of our Jewish community • No legal fees to set up and
the Federation handles the details • If you fund a CGA with appreciated securities, you can avoid a portion of the capital gains tax If you are 70 1/2 or older and own an IRA, you can make a onetime gift of up to $53,000 in 2024 to fund a CGA with a qualified charitable distribution. This would reduce your taxable income even if you itemize deductions. You could also roll over
up to $53,000 from a 401(k) to an IRA first. If you are 73 or older, you must take a required minimum distribution (RMD) from your IRA. Then you may pay taxes on that RMD, depending on whether you donate all or part of it. Now, in 2024, you can turn your RMD or part of it into a CGA that pays you for your lifetime. This opportunity may not exist after 2024. Now is the time to talk
with your financial advisor to see whether this option is right for you. You can visit LVJFgiving.org to find more details. You can also contact Aaron Gorodzinsky, the Federation’s director of development, at 610-821-5500 or aaron@jflv.org for a complimentary CGA illustration or to learn more and to see what others in our community are doing.
7 reasons to set up a gift annuity now By Mike Miller and Lynne Shampain Special to Hakol
If you’re retired or close to it, you may want to consider a charitable gift annuity (CGA) offered through the Jewish Federation of the Lehigh Valley. If you’re married, you can include your spouse in this plan. The American Council on Gift Annuities increased gift annuity rates three times within 18 months,
Another local mission to Israel
Two JCC staffers make journey of service and connection
By Isaac “Yitzi” Powers JCC Welcome Desk Associate and Alaina Schaeffer JCC Youth and Camp Assistant Director
Both of us had the privilege of participating in a weeklong mission trip to Israel in May through the Birthright Israel Onward program, made possible by the Jewish Community Center Association volunteer program and organizations like Tlalim Israel Outdoors and the Birthright Israel Foundation. Our mission trip was a profound reminder of the strength and resilience that comes from leaning on family and community, especially in the wake of tragedy. This theme resonated deeply throughout our experiences, which included volunteering in agriculture, visiting sites of recent and past hardships, and engaging with the local community. One of the most impactful moments of the trip was our visit to the Nova Music Festival site. The festival was a scene of devastation on October 7, when a series of surprise attacks by Hamas militants shook Israel to its core, inflicting hundreds of casualties and
a profound sense of loss. As we walked through the site and along Route 232, the emotional weight of that day was palpable. Listening to survivors and seeing the aftermath firsthand brought home the stark reality of the conflict, as well as the resilience of those who lived through it. Amid these heavy moments, our group found solace and purpose in our volunteer work. One morning, we were tasked with pitting dates in the agricultural sector. This seemingly simple task hadn’t been performed at full capacity since November, making our contribution vital. Another day, we connected ropes to pepper plants, a collective task that was significantly expedited by our group’s efforts. It was heartening to hear from local farmers how much our help meant to them and how it allowed them to focus on other pressing needs. The sense of community was further strengthened during our time at an Israeli food pantry. Here, we packed food that was immediately distributed to those in need. Witnessing the direct impact of our work, as people received what we packed, was a powerful experience. It highlighted the ongoing necessity of such support systems, especially in the wake of crises like the October 7 attacks. Our trip was enriched by moments of cultural exchange and learning. Playing beach volleyball with Israelis in Tel
4 JUNE 2024 | HAKOL LEHIGH VALLEY
Aviv was a joyful reminder of the normalcy and vibrancy of everyday life, even amid ongoing challenges. Our geopolitical briefing provided us with a deeper understanding of the current situation in Israel, ensuring that we were well informed and connected to the larger context of our volunteer efforts. One of the most memorable and intimate experiences was being invited into our madrich’s (guide’s) home to hear his father’s story. Living in the southern region, the family was directly impacted by the conflict, and their personal narrative added a layer to our understanding of the ongoing struggles. This moment encapsulated the spirit of familial connection that defined our trip. Despite being far from our own homes, we were made to feel like part of their family, reinforcing the idea that all of Israel is one big family. The closing of our trip
was a reflective and emotional time. Sharing our most meaningful experiences with each other underscored the deep bonds we had formed. For us, the most significant takeaway was the sense of unity and support that permeated every aspect of our journey. Through volunteering, listening to personal stories, and simply spending time together we were constantly reminded of the importance of standing together as a community. This mission trip reinforced a crucial lesson: in the face of tragedy, it is vital to lean on your family, no matter how distant they may seem. All of Israel is one big family, and everyone knows someone directly impacted by recent events. The immediate and overwhelming support from the entire state, the Jewish people, and volunteers like us expressed the strength of this bond. As we returned home, we carried with us a renewed
sense of the importance of community and family. This trip has shown us that even in the darkest times, the light of human connection and solidarity shines brightly. We are honored to have contributed to this mission and to have experienced the unbreakable bond of the Israeli and Jewish community firsthand. Being a part of this mission was a humbling experience. While the people we helped may not be our biological family, they are our family in spirit. The unity and resilience of the Jewish people and the State of Israel are inspirational, and we are grateful to have been a small yet meaningful part of this effort.