AM I RICH ENOUGH TO GIVE?

COMMUNITY

WHAT'S HAPPENING IN NORTHEAST FLORIDA

"AM I RICH ENOUGH TO GIVE?"

By Kellie Smith,Jewish Federation & Foundation of Northeast Florida

Recently while meeting with an individual about their legacy giving, they said “I’m just not rich enough to give.” It is a very common sentiment in today’s world to feel that charitable giving is reserved for the wealthy. After all, we see the high-level sponsors listed at events, study and work in buildings named after notable philanthropists, and read national headlines about Bill Gates, Warren Buff ett and others involved in The Giving Pledge. Considering that the median household income is just north of $60,000—a far cry from these donors—why should the average person make a commitment to charitable giving? The answer to this is two-fold.

First, it’s important to recognize the signifi cant diff erence that a small amount can have on both an individual cause and repairing the world overall. Giving to a charity that you are passionate about, at any level, helps to propagate the mission of the organization that you support. In fact, small donors make up the greatest number of gifts received by charities, having a large collective infl uence on these organizations’ abilities to carry out their programs and services. Many of the most critical issues facing our society are being tackled by nonprofi t agencies, and without donor funding, even in small amounts, many of the urgent needs of the most disenfranchised groups in our local and global communities would go unmet. This is the idea that helping others is inherently the ‘right thing to do,’ and most of us are familiar with this.

Second, it’s important to recognize the profound impact that giving has on you, as the giver. Our modern society has adopted a consumerist mentality, fueled by marketing and social media, that pushes us to always want more, spend more, and believe that we will never have enough. However, perhaps it is the focus on the wrong kind of spending that creates this lack of gratifi cation. Harvard professor and social scientist, Michael Norton, once said in a TED talk, “If you think money can’t buy happiness, you’re not spending it right. Stop thinking about which product to buy for yourself and try giving some of it to other people instead.” In his book Happy Money: The Science of Happier Spending, studies found that the act of giving money to charity—regardless of the donor’s income level—instilled feelings of greater wealth, health, and happiness. This is supported by scientifi c research which shows that giving activates the pleasure and reward centers in the brain, producing the same chemical response as eating good food or falling in love.

With an understanding of why to give, the next question is how to give, and when your capacity is limited, it is particularly crucial to be intentional with your generosity. The best way to achieve this is by identifying a cause that resonates with you and researching the effi cacy and performance of organizations through an established source such as Charity Navigator. When determining an amount to give in a sustainable manner, some individuals choose a fi xed percentage of their paycheck. In this way, giving during your lower-earning years helps to establish a powerful habit that puts you in a position to continue to give more as your income increases. As an added benefi t, recurring donations—gifts made each week or month rather than in a lump sum—are especially good for non-profi ts as they provide valuable visibility into future cash fl ows.

It may never feel like you are “rich enough” to give, but if you keep putting off charitable giving until it feels comfortable, you might wake up one day and realize you’ve missed a meaningful opportunity to make a diff erence in your own life and to the causes that matter most to you. Contact Kellie Smith, Foundation Director, at (904) 512-3796 or KellieK@jewishjacksonville.org to decide how you can best give of your time, talent, and treasure to begin planning your legacy today. 7

COMMUNITY JELF LENDS OVER $60,000 IN JACKSONVILLE’S JEWISH COMMUNITY

2022-23 Applications Open Now through April 30th!

Jewish Educational Loan Fund (JELF) provides interest-free loans to Jewish students, giving them the chance to achieve their career goals by helping them fund a portion of their higher education. Sadly, with the cost of college on the rise, many families are unable to aff ord the fi nancial burden of higher education. In recent years, as many as 94% of all students relied on some fi nancial support. Th is is where JELF makes a huge diff erence. With a savings of roughly $3,000 on average per JELF loan, students only pay back what they owe and never accrue interest. Loan repayments begin six months aft er a student graduates, at which point JELF off ers an eightyear, graduated repayment plan. Th is means that borrowers start repaying their loans gradually over time. Student repayments are then used to help the next student in need. In Jacksonville, Marie Reitzes, an active member of Th e Temple, is proud to support JELF’s impact on education. “I fi rst learned about JELF when my son-in-law, David Margolis, joined their Board of Directors in Atlanta. As a teacher, I know the importance of completing your college education without the worry of a large, expensive loan. I therefore contribute to this fi ne organization since 2015. I am so proud to be able to help many young Jewish students successfully complete their college education." In 2021, JELF assisted 12 Jewish students from Jacksonville with a total of $61,058 towards their educational journey. As one JELF alum from Jacksonville,

Daniel Miller, put it, “Th anks to the support of JELF, I was able to excel for the fi rst time in my academic career. Without the generosity of JELF’s donors, I truly believe I would not be in the position I am today. I am honored to be a JELF recipient. One of the most gratifying/meaningful moments of my life was to fi nally pay back my JELF loan, approximately ten years ago. I still have a copy of the “paid-in-full” promissory note, which was co-signed by my late parents when I was 18 years old.” Applications for JELF’s interest-free loans for higher education (college, graduate school and vocational programs) for the 2022-23 academic year are open to Marie Reitzes, a JELF supporter. Jewish students now through April 30, 2022. JELF, in partnership with Jewish Family & Community Services of Jacksonville and the Jewish Federation & Foundation of Northeast Florida, helps Jewish students reach their academic goals. For more information, visit www.jelf.org.