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A Supporting Foundation provides a unique vehicle for you to involve your family in the covenant of philanthropy. It functions very much like a private family foundation, but because it is aligned with the Jewish community, you receive additional tax considerations that would not be
available with a private foundation.
You have the option of contributing cash, appreciated assets, or non-readily marketable assets to establish a Supporting Foundation. No capital gains taxes are incurred when gifts of appreciated assets are made
and they are deductible at their full fair market value.
Unlike private foundations, there is no excise tax on net investment income. Supporting Foundations are not subject to the restrictions on investments and minimum distribution requirements of private foundations, and when large contributions are made, allowable income tax deductions are more liberal.
Each Supporting Foundation is separately incorporated and has its
own board of trustees made up of individuals whom you select, as
well as members selected by the Jewish community. Because both
groups of trustees continue to elect their own successors, a Supporting
Foundation exists in perpetuity, providing a significant means of
involving your family in Jewish philanthropy for generations.
Your Supporting Foundation will have access to the Jewish community’s
research on community needs, as well as their assistance in selecting
grant recipients. Through the Jewish community’s Family Philanthropy
Initiative, you will also have access to the latest research and information
on best practices in philanthropy at the national and international
level, as well as special programs, seminars, and other resources to
help your family become more strategic and focused in its charitable
pursuits. The Jewish community will provide professional staff to
help you and the board of your foundation review grant proposals,
prepare all necessary Federal and State tax and legal filings and will
assist with general administration of your foundation.
Grants may be made to any agency or program that fits within the
broad purposes of the Jewish community, both domestically and
overseas.
A gift to the Jewish community today will allow you to be there for your family, your community and the Jewish people—whenever help is needed in the future.
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