Endowments are forever
By Julie Diamond
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“Endowment gifts are outstanding examples of our Jewish values of tzedakah and tikkun olam—justice and repairing the world. Jewish Federation of Greater Portland, in partnership with the Oregon Jewish Community Foundation, is here to help donors realize their philanthropic goals through endowment gifts that support our community in perpetuity,” said JFGP’s Executive Vice President Charles Schiffman.
Every year, individuals and organizations serving Jewish children, families, immigrants and the elderly benefit from financial aid in the form of grants made from endowment funds. These funds are created through legacy gifts, donations that are permanent investments earning income that is then used to support charitable organizations, according to the wishes of the donors.
The Arthur P. Krichevsky Memorial Scholarship Fund and The Friendly Rosenthal Fund, both established through OJCF, are examples of how generous endowments help fund critical programs in our community.
Krichevsky grants over these eight years have helped support students of Portland Jewish Academy, $682,332, and Aleph Bet Preschool/Maimonides Jewish Day School, $162,978. The fund also provides assistance to students of adult education institutions such as Brandeis University, Hebrew Theological College, University of Judaism, Morasha/Melton Adult Mini School and others with a total of $10,207 in eight years.
“Art would be very proud to see how many Jewish lives his legacy has improved,” said Krichevsky Committee Chair Henry Blauer. “His generosity is a model to us all.”
The Friendly Rosenthal Fund, another example of an endowed fund, was established to support health and medical assistance for the elderly and infirm. Over the past eight years, Friendly Rosenthal has gifted back to the community a total of $1,140,500, representing the interest earned by the original principal investment.
In the most recent grant cycle, these grants provided the following aid: Cedar Sinai Park, $30,000; Jewish Family and Child Service, $25,000; Mittleman Jewish Community Center, $45,000; and Morasha/Melton Adult Mini School, $1,500.
“These endowments demonstrate the impact of planned giving,” said OJCF Executive Director John Moss. “It’s impressive when you look at the dollars created through the growth of these investments. It’s inspiring when you consider the programs that are funded and the people who have life-changing experiences as a result of these endowment grants.”
Donors have several options for establishing endowment gifts. Donations to JFGP can be made as an Annual Campaign Endowment, known as a PACE gift or Perpetual Annual Campaign Endowment. Women can give this gift as a “Lion,” making it a Lion of Judah Endowment, or LOJE.
Donors can establish a Designated Endowment Fund in which the founders direct the grants for a special purpose such as elder care, as in the Friendly Rosenthal example. The simplest way is to create such a fund is a Charitable Bequest in a will. Donors can set aside either a specific amount or a percentage of the estate to establish an endowed gift.
The donor would name the Oregon Jewish Community Foundation for the benefit of the Jewish Federation of Greater Portland as the beneficiary.
“Any of these legacy gifts would help you make a strong statement about how much you value the importance of perpetuating Jewish life,” said Moss.
For more information on planned giving contact Charles Schiffman at 503-245-6482 or John Moss at 503-248-9328.