Unlock Greater Giving with a Donor Advised Fund

COMMUNITY

WHAT'S HAPPENING IN NORTHEAST FLORIDA

By Kellie Smith, Jewish Federation & Foundation of Northeast Florida

How does a donor-advised fund work?

A donor-advised fund, or DAF, is a charitable investment account where you can deposit cash, securities, and other assets. These accounts come with a multitude of advantages and allow donors to grow the amount of money they have to give away by investing their contributions, while simultaneously receiving immediate tax benefits from them.

Giving through a donor-advised fund rather than contributing directly to charity has become more popular than ever, with the number of individual DAF accounts reaching one million in 2020 according to the National Philanthropic Trust. One presumable reason for the recent rise in DAFs is the 2017 federal income tax law change which substantially increased the standard deduction. With this change, the donor-advised fund makes even more sense. Typically, one would take the standard deduction when itemizing deductions (including charitable donations) would amount to less; however, with a donoradvised fund, you have the tax advantage of being able to “bundle” multiple years' worth of donations in one year and then choose to allocate those funds over multiple years.

What are the other benefits to giving from a donor-advised fund?

• Simplifying your recordkeeping

One of the most obvious perks of a DAF account is the ability to organize and streamline your giving through one source and consolidate all your donation records to one tax receipt at the end of the year. Eliminate writing separate checks and simply focus on the joy of giving!

• Increasing your generosity

A DAF maximizes your giving power by utilizing a taxfree, long-term investment strategy. Like any investment, the money has the potential to grow while it sits in the fund. You choose from a variety of investment options according to your own risk tolerance and monitor your balance and activities online at any time. • Reducing your capital gains and estate taxes

By using a donor-advised fund, you'll avoid paying capital gains tax on the assets you allocate toward it, which may increase the amount available for charity by up to 20 percent. Plus, your deductions might increase—if you bought an asset for less than it's worth today, you can deduct its current market value instead of the original price.

• Designating successors to perpetuate your legacy

You can name your children, grandchildren, or others as successor advisors to your fund. Successor advisors have the privilege of managing your fund after your death and carrying on your charitable values and traditions.

How do I get started?

Donor-advised funds are a flexible, efficient, donor-centric form of philanthropy and this opportunity isn’t just reserved for the wealthy. You can open a donor-advised fund with the Jewish Foundation with a tax-deductible minimum gift of $2,500 or $1,000 if you’re under 40. You may make additional contributions of any amount at any time, but no additional contributions are required after your fund has been established.

Most importantly, by creating your DAF with the Jewish Foundation you are supporting the growth of our Jewish community through the small, shared fees that we derive from the management of your fund. Your partnership enables us to provide philanthropic education programs to help inform current donors about critical issues within the community and develop the next generation of givers. Opening a fund and creating a legacy within the Jewish Foundation helps to preserve a thriving Jewish Life in Northeast Florida for generations to come.

Contact Kellie Smith, Foundation Director, at KellieK@ jewishjacksonville.org or (904)512-3796 to open a donoradvised fund and unlock greater giving today!This article is only intended to be a general overview of some donation considerations and is not intended to provide tax or legal guidance. In addition, all gifts to donor-advised funds are irrevocable. Please consult with your tax or legal advisor. 7

COMMUNITY

MASA ISRAEL JOURNEY: THE JEWISH EXPERIENCE

By Savannah Feustel, Jewish Federation & Foundation of Northeast Florida

In our lifetime, many of us in the Jewish Community will take one, if not several, Jewish Federation missions and/or trips to Israel. Our goal in mind? To see impact, to leave impact, and to make an impact back at home. Today, the Jewish Federation & Foundation of Northeast Florida supports this goal, by continuing to fund and support Masa Israel Journey.

Masa Israel Journey is a joint project of the Government of Israel and the Jewish Agency for Israel, which is one of the Federation's overseas partners. Masa Israel Journey off ers various experiences over the course of four to twelve months. These experiences include multicultural studies, volunteerism, and professional development opportunities for mid-career adults.

These programs, currently available to our Northeast Florida Jewish community include, but are not limited to internships, study-abroad programs, professional training bootcamps, and MasaTech the “elite career relocation program that places tech professionals from around the world with leading, cutting-edge Israeli tech companies.” (www.masaisrael.org)

One community member who benefi ted from Masa Israel Journey is Israel and Overseas Associate at Jewish Federation of Baltimore, Sarah Jacobs. Growing up in the Northeast Florida Jewish community, Sarah participated in the Onward Israel Masa program. Through this program, Sarah was able to build her resume, make new connections in Israel, and further embrace her Judaism through service, study, and fellowship. “My personal experience with Masa showed me solidarity with those of my Jewish faith. Professionally, I developed a further, in-depth understanding of what being Jewish and continuing our traditions and work in Israel means to me.”

Sarah also attributed the opportunity as vital to becoming a more empowered Jewish woman and to supporting her work in promoting the next generation of Jewish leaders. “Throughout my youth and into my career, I have always believed that our own paths in Jewish life look nothing alike, but my experiences in Israel drove the process that brought me here today. I thank the Federation for providing many young people the opportunity to pursue their varied interests and love for our local community and Israel," said Sarah.

If you or someone you know is interested in an immersive experiences in Israel, or around the world, please contact our offi ce at info@jewishjacksonville.org or (904) 4��-5000.