A legacy gift conveys a special message, whether to your family members or the community, that your personal actions to help others is one important value in your life.
A legacy endowment gift can be an expression of gratitude for a life experience, to honor or memorialize a loved one, or to make a positive impact on the community. It is a thoughtful, personal act. Your Legacy Gift will:
We can share with you the established areas of focus, building blocks, that have been identified to ensure long term stability for Alexander JFS to be able to provide tangible resources and support for future generations.
Whether you choose to discuss your thoughts and plans with us or to speak directly to your advisor, establishing a legacy gift is straightforward and simple.
A percent of an estate or a specific amount is identified in the will, as a gift to the Houston Jewish Family Foundation, Tax I. 76-0240622. In addition, donors who put a gift in their will often begin the fund in their lifetime by donating 20% to 100% of the intended gift.
Donors maximize their charitable donations when designating all or part of an IRA to the Houston Jewish Family Foundation. Your advisor can explain the high tax rates associated with an IRA passing to beneficiaries in an estate. Donors often begin their legacy fund designating their annual IRA distributions in their lifetime to HJFF.
Just as designating a loved one for a portion of an insurance policy, designating a percentage of an insurance policy to HJFF is a simple way to create a legacy gift, as it requires merely listing the foundation as a beneficiary.
Many donors decide to fully fund or begin funding their legacy gift in their lifetime. This allows the individual or couple to see the impact of their gift, to share their passion with family members and to continue to adjust and articulate their long-term intent.
In addition, donors who put a gift in their will often begin the fund in their lifetime 20% to 100% of the intended gift.
Charitable Lead Trusts, Charitable Remainder Trusts and Donor Advised Funds are a few of the vehicles used for planful giving. Your advisor can guide you in your choices, or HJFF can connect you with the Houston Jewish Community Foundation which serves as an advisor to community members considering establishing charitable gifts for the community.
Donors have, in the past, provided the foundation with residences, bank accounts, stocks and bonds, jewelry, art and other assets. Typically, the executor of the estate liquidates the estate which then provides the assets to the foundation. For stock transfers, stocks are sold through a designated broker at the time of the transfer.
There is no minimum amount to establish a legacy gift, with the majority of gifts from $5,000 to $50,000 going into the Family First Fund. A gift which is $100,000 or more is ensured to remain a named fund in perpetuity.
If you are comfortable to share your intention for a legacy gift, the Foundation has documents which allow you to articulate your intention, what naming conventions should be, and the contact information for advisors. The document is not, as a letter of intent, not legally binding. It needs to be formalized through an act such as putting a gift in a will or adding HJFF as a designated beneficiary for an insurance policy or IRA.
The foundation has a legacy journal which includes information about legacy donors. With your permission, the legacy gift is publicized online to allow your family and friends to add to the fund and to encourage others to establish such gifts.
No amount is too small! Every donation to HJFF to any fund makes an ongoing difference. For those who wish to have their own named fund in perpetuity, the minimum amount to start a fund is $100,000.However, many families have established funds with less with plans to build up their fund over time whether on a scheduled basis or through an additional gift in their will or other donation vehicle. Funds which are less than $100,000 may be merged with other funds supporting the same or related programs over time.
We invite you to have a conversation with Houston Jewish Family Foundation about what means the most to you and how you might like to create a legacy for the future.
8:30 AM – 5:30 PM Monday - Thursday
8:30 AM – 4:00 PM Friday
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