Since 1981, the Jewish Community Foundation of Orange County has been at the forefront of charitable giving in Orange County. It partners with individuals and families to support the causes they care about and build a strong, vibrant community for now and in the future. As a primary trusted and expert resource for philanthropy, the Jewish Community Foundation of Orange County will engage, educate and inspire generations of givers throughout the Jewish community.
The Foundation is a donor-centered charitable enterprise that assists individuals in achieving their personal charitable goals in a tax-advantaged manner with professional guidance. Accumulating permanent, endowed resources, the Foundation facilitates the charitable giving of its donors for the benefit of Jewish and secular charitable organizations and to provide for the stability and continuity of Jewish life in Orange County.
Through current giving, donors can set up a donor advised fund. To create lasting charitable legacies for the community, the Foundation assists donors in creating endowments that reflect the causes and issues that matter most in the donor’s life.
The Jewish Community Foundation distributes millions of dollars through donors each year to hundreds of organizations in the Jewish and secular community. Here is a brief summary of the kinds of funds available to donors:
Donor advised philanthropic funds are individual charitable funds created in a donor’s name for the purpose of fulfilling his or her philanthropic goals. They allow a donor to make a tax-deductible contribution when it is most convenient for him or her and then recommend gifts over time to 501(c)(3) organizations in both the Jewish and secular communities. Many people use their donor advised philanthropic fund to pay synagogue dues.
The establishment of a charitable remainder trust requires the involvement of a donor’s legal counsel. This vehicle provides annual income for the donor and/or other beneficiaries; an immediate income tax charitable deduction; elimination of capital gains tax on the initial transfer of appreciated property; professional management and investment diversification; estate tax savings and the ability to designate the future use of gift proceeds through the Jewish Community Foundation.
Bequests are the most popular tool and the simplest. Donors can retain ownership/use of their property during their life and leave it to the foundation at death. The estate receives a tax deduction, and the bequest amount is excluded from federal estate taxes. Many people desire to benefit a charity but cannot do so while they are alive; hence, a bequest preserves lifetime flexibility, so the donor is able to use and control property while alive.
A donor advised endowment fund bears any name a donor chooses: e.g., the Sara and Sam Cohen Endowed Fund or the Cohen Family Endowed Fund. Principal (initial donation and any additions) remains in perpetuity. The donor may allocate 5 percent of the fund’s total asset value as of December 31 of the preceding year. After December 31 all unallocated money rolls back into the donor’s fund.
For more information, contact Don Gartner, CEO, Jewish Community Foundation of Orange County, at (949) 435-3496.