Endowment Funds can help you make a gift today that will last beyond your lifetime. There are three types of Endowment Funds: Unrestricted, Restricted, and Donor-Advised (Philanthropic) Funds.
Unrestricted Endowment Funds
Many donors understand that the needs of the community change over time, and want to entrust and empower current and future leaders to respond to sudden needs. For a minimum of $1,000, a donor may establish and name an Unrestricted Fund that is not specifically earmarked, thus allowing the Foundation a critical source of funds for whatever needs are most urgent.
Restricted Endowment Funds
Contributions to the Foundation can also be designated for a specific agency, program, or need within the Jewish community. With a minimum contribution of $10,000, a donor can establish and name such a fund. Restricted funds reflect the goals of individual donors; while providing vital programs and services for the community. Several broadly restricted funds are:
NEFESH (Nurturing the Feminine Spirit of Hope) Fund - established by women who have each invested at least $1,000 to support, in perpetuity, Jewish women and girls, especially in the greater Springfield area. The JEF invests makes grants from investment income and interest to programs impacting local Jewish women. NEFESH is a cooperative effort of the Women's Division of the Jewish Federation of Western Massachusetts and the Foundation.
Springfield Council of Jewish Women's Scholarship Funds - The Springfield Council of Jewish Women Scholarship Fund (SCJW) was created in 1943 when the Springfield Council of Jewish Women presented a $200 award to one student. The scholarships funds were moved to the JEF in 1992. The program has grown enormously and is now one of the most important and respected scholarship groups within the community. Awards, based on financial need and academic standing, range from $1,000 to $2,000, and may be renewed annually for a maximum of four years. The Committee also recognizes future potential, as well as community service and student activities. Full-time qualified students in the greater Springfield area can apply for these awards. For more information about the history of the SCJW Funds, click here.
Perpetual Annual Campaign Endowments (PACE) - A growing number of generous, thoughtful, and concerned individuals have chosen to support in perpetuity the Jewish Federation of Western Massachusetts' Annual Campaign by creating Annual Campaign endowments. By remembering the Jewish community in their will, trust, or through a life insurance policy, these individuals have left a timeless gift in their name. The Generation to Generation Society recognizes individuals who have made provisions to contribute a minimum of $100,000 ($5,000 which will be distributed annually from each Generation to Generation Fund) in perpetuity, to the Jewish Federation's Annual Campaign. This will help preserve and strengthen the unique and multifaceted services provided by our Federation and its constituent agencies.
Agency Endowment Funds - Several local Jewish agencies turn to the Foundation to manage, invest, and administer their endowment money. Individuals as well can create a personal Agency Endowment Fund for the organization of their choice.
Field of Interest Funds - Individuals can establish a Field of Interest Fund to benefit causes or organizations that they cherish. For example, there are many Field of Interest Funds that support education, the elderly, and missions to Israel.
Donor Advised Funds
A flexible option for charitable giving, Donor Advised Funds provide a charitable tax deduction for the amount contributed to the fund while allowing the donor and their designees the ability to recommend charitable gifts to organizations of their choice out of the income. Donors place a minimum initial gift of $10,000 into a fund named by the donor. Donor-Advised Funds are similar to private family foundations but have the following benefits: The JEF staff does all the administrative work. They provide better tax benefits and minimize capital gains taxes. By naming adult children as successor advisors to the funds, Donor Advised Funds are a great way to get your family involved in philanthropy.