The Greatest Gift is the Gift of a Future
Ensuring financial stability for future generations and providing critical financial support to fund annual capital improvements and other anticipated annual expenditures was an important consideration for the Adath Israel Board of Governors. It became clear, that annual member contributions could not sustain the financial needs of the congregation and that an additional steady stream of annual revenue was required.
To address this issue, in 2006, the Board of Governors voted to proceed with the formation of an initial $5 million endowment to be referred to as the Legacy Fund. This is but one of several steps deemed necessary for the congregation to sustain the growing cost of our programs and is consistent with action taken by over 70 per cent of the conservative congregations in North America.
The Legacy Fund initiative represents the largest and most ambitious campaign in Adath Israel’s more than 100-year history. To secure our future we have to build a strong endowment base today. The synagogue plays a vital role in all of our lives and today, especially during these difficult times for the Jewish community, the support of our membership for this important initiative is crucial to the successful continuation of our synagogue.
Help ensure our congregation for generations to come.
Our members continue to shape and maintain Adath Israel from year to year, and from generation to generation. Yet, as we look into the future, we realize that we cannot simply let chance and the generosity of individuals take its course. We need an organized, dependable system of support that will allow this beloved institution to continue to grow, to remain vital and relevant through the changes and challenges of the future. Fortunately, building the future need not be an undue burden on the present.
The Endowment concept is a familiar, proven way to provide certainty for the synagogue in the future, while helping you manage your own finances advantageously in the present. Depending on your goals, you may:
- Create a current tax deduction
- Avoid long-term capital gains tax
- Reduce income taxes on estates
There are many ways to create your Legacy with an Adath Israel Endowment.
Outright Gifts of Cash or Shares
An outright gift can be invested in the endowment fund and the interest earned can be used for the Synagogue’s benefit in the way that you want it to be designated. Gifts of cash or appreciated securities generate an immediate charitable income tax deduction. Appreciated public company shares are a popular gift because capital gains taxes are bypassed.
A gift in your Will ensures that the Synagogue’s important programs can continue in perpetuity. We can provide you with verbiage to ensure that your charitable intentions are properly executed.
For a relatively modest investment, life insurance can result in a substantial legacy and provide significant tax benefits.
Take the Next Steps
Whatever your financial situation, there is a way for you to make a significant impact on the future of our synagogue. The steering committee of The Adath Israel Legacy Fund is ready to work with you and your lawyer or financial advisor, in full confidence, to help you develop a clear picture of the options available. We can guide you on how to proceed in a way that brings together your financial realities with your commitment to Adath Israel. Make sure the traditions of Adath Israel continue and grow dor l’dor, from generation to generation. Through you, the vision endures.
Call Phil David at 416.635.5340 x 317 to begin your confidential discussion.