Philanthropic Funds are an alternative to a private family foundation because they allow you to make recommendations for distribution of income and principal from your fund to IRS-approved tax-exempt organizations. You can establish a named philanthropic/donor advised fund with a minimum gift of $10,000 (payable in five years or less). You may distribute any amount to any charity of your choice (Jewish or non-Jewish), in your name, as long as the balance in the fund does not fall below $10,000.

The Foundation administers the funds, invests the assets, keeps records and writes checks to the charitable organizations that you recommend. You will receive quarterly statements describing your fund’s activity.

If you are someone who gives to multiple charities, this can reduce your tax paperwork-the only record you will need is the total amount contributed to your fund!
Donations to your Philanthropic Fund are immediately tax deductible-yet you may make your gifts over time.

In addition, you can make your donation with long-term appreciated property and receive an income tax deduction for the full fair market value of the property - without having to pay capital gains tax.

Involve your Family in Charitable Giving
These funds are a wonderful way to involve the family in tzedakah. Four times a year, your family can sit around the dinner table and decide to which not-for-profit organizations you want your fund to distribute. In addition, you can provide in your Philanthropic Fund Agreement that upon your death, your children continue the tradition as the designated recommenders of your family fund.

We Do It Better!
Some commercial institutions also have donor advised and philanthropic funds. The advantage to establishing your fund with the Jewish Foundation is 1. We charge only a 1% administrative fee, far lower than the banks; 2. we have great rates of return; 3. we have personalized service; 4. When you invest with us you are helping your community!

For more information please contact Lisa A. Stanger, Esq., Director, Jewish Foundation of Greater New Haven, 387-2424 x382, lstangeewishnewhaven.org