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Leave More Than Memories – Endow Your Annual CJA Gift Today!

Jan 24, 2012

 

The Jewish Federation of Winnipeg’s Leave More Than Memories endowment fund at the Jewish Foundation of Manitoba was created for the sole purpose of enabling donors to continue supporting the community’s annual campaign – the Combined Jewish Appeal – in perpetuity.

An endowment is a fund that generates income which is distributed annually. The Leave More Than Memories fund will continue to make your annual gift to the CJA campaign in your name. Some donors build up their Leave More Than Memories funds to the point where the interest that is generated is enough to pay a portion of, or their entire annual campaign gift during their lifetime!

Fast Facts

·        The idea for a Combined Jewish Appeal endowment was first raised by Michael Nozick and the late Izzy Asper z”l in the 1980s, called the Wall Fund.

·        If you contributed to the Wall Fund, you already have a Leave More Than Memories fund because Wall Fund contributions are included in the Leave More Than Memories fund.

·        There really is a wall, and it runs along the north-south corridor of the Asper Campus with a list of contributors.

·        Once you have decided to endow your campaign gift, you should discuss the best financial option to suit your own personal financial and estate planning goals with your accountant, financial planner, or estate lawyer. Options include: income from other endowment funds, charitable bequests, outright gifts of appreciated assets or cash, and life insurance policies; some provide your estate with considerable tax benefits without the requirement that you contribute during your lifetime.

·         $100 is required to open a fund and the general rule of thumb is to multiply your annual gift by 25, to reach an approximate amount of the capital required to endow your annual gift– depending on the rate of interest earned by the Jewish Foundation.

·        A Lion of Judah Endowment allows a woman to endow her annual Lion of Judah gift in perpetuity. Over 3,044 women in Canada and the United States have created a personal Lion of Judah endowment.

 

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Rhonda Spivak, Editor

Publisher: Spivak's Jewish Review Ltd.


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