Newspapers / The Charlotte Jewish News … / Aug. 1, 2007, edition 1 / Page 9
Part of The Charlotte Jewish News (Charlotte, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
The Charlotte Jewish News - August 2007 - Page 9 Endowments: How They Work and Why You Should Support Them Phil Warshauer By Phil Warshauer What is an endow ment? An endowment is a permanent fund. Its purpose is to provide a perpetual source of income. This income supplements the gifts that an institution receives on an annual basis. It allows an institution to add new programs and/or begin each year knowing that a percentage of their annual budget is already fully funded. In a perfect world, an institution would like their entire operating budget to be funded by an endow ment or “be fully endowed.” Most of us learned a long time ago that the world is not perfect. Endowments are created in a number of ways. Typically we have attempted to establish them during our lifetime. This allows an individual to receive the satisfac tion of seeing their gift used by the community. When an individual establishes an endowment during their lifetime they are supporting both the future and current needs of their community. Of course, gifts of this kind can often be chal lenging because of an individual’s current financial obligations. There are many that want to estab lish endowments during their life time; however, the burdens of these obligations may limit our ability. There are few certainties in life and it is difficult to plan for the unknown. An alternative to life time giving is deferred giving. Many individuals are able to make signifi cant gifts through a bequest, insurance poli cy, or retirement funds at their death that they are unable to make during their lifetimes. These gifts can continue to support in perpetuity those institutions that had so much meaning to them and their families during their lifetime. Deferred gifs can be structured to be tax efficient, allowing individu als to make the most meaningful gift at the least cost. The number one reason why individuals do not make deferred gifts to an endowment is that they are never asked. One of the roles of the Foundation for the Charlotte Jewish Community is to assist our Charlotte Jewish institu tions in asking their constituents to consider a deferred gift as a way to help their favorite Jewish insti tution increase their endowment. Individuals who recognize the need for an endowment are saying that they are not only concerned about the present but also the future. Institutions that promote endowments are saying that it is possible to plan for current pro gramming while at the same time making provisions so that the dreams of tomorrow can become reality. An endowment is a very Jewish concept. It is a way of passing along traditions and quality of life to future generations. It addresses the importance of educating our children, caring for the elderly, and providing financial resources to those with the limited ability to provide for them. We create endowments for the same reason we are taught to not harvest the comer of the fields and to under stand our individual responsibility to make our world a better place. Endowments, like Jewish law, are passed down from generation to generation. Endowments have been estab lished throughout our community for a variety of purposes. We have endowments to support our build ings, offset current operating expenses, educate our children, purchase prayer books, care for our seniors, fund lecture series, and enhance our High Holiday services. These endowments honor our parents, our teachers and in some instances memorial ize our children. Endowments come in all sizes. Some are very large while others are more mod est. The only downside to endow ments? We don’t have enough of them. Let’s work together and do our part to make this world a more perfect place. Phil Warshauer is the Director for Planned Giving for the Foundation for the Charlotte Jewish Community. For more information or questions, please contact Phil at 704-973-4544 or pwarshauer@fftc. org. Foundation for the charlotte Jewish .Community DR. JEFFREY I. MUSFER & ASSOCIATES, P.A. South Park Mall 4400 Sharon Rd. Charlotte, NC 28211 (704) 364-7982 Carolina Place Mall 11025 Carolina Place Pkwy. Pineville,NC 28134 (704)541-8232 Independent Doctors of Optometry Adjacent to Lens Grafters Summer Camp for Very Special Kids at Shalom Park By Amy Krakovitz, editor This summer, special needs children in Charlotte had their own camp to attend on the campus of Shalom Park. Camp Shalom gave elementary age children with autistic spectrum disorders and Asperger’s syndrome an exciting summer camp experience in a positive and fun environment. Each week began with activi ties coordinated with a special theme including: sports and games; swimming; arts and crafts; music; and more. Each camper had the opportunity to learn new skills while enjoying the state of the art facilities at the Levine JCC under the guidance of experienced professionals as their counselors. Staff included Hannah Kauntiz, Rosa Babylon, and Jadyn Woodson, all under the expert guidiance of camp director, Marcia Stem. He’s Not Alonel Jewish singles of all ages have come to us loota'rig for happily ever after. So what if your uncle has a pet ■ ''Iguana? it's highly possible we know a few brave women who won't let it scare them away. And maybe' on© in particular has a pet iguana of her own! Send your uncle our way. ^ ^ Personalized Intioductions for Jewish Singles of All Ages Laurie F. Berzack, MSW * 704>957-4704 • chaiexpectations.com Coach Dan Vizzini on the court with a Camp Shalom camper. For more information on Camp Shalom, please call Marcia at 704- 944-6835. The campers of Camp Shalom listen to a story. ,UBS We are pleased to congratulate Peter A. Levinson Vice President - Investments for being ranked one of Charlotte's Top 20 Wealth Advisors in the 2007 Charlotte Business JournalAVinner's Circle Survey. UBS Financial Services Inc. 6337 Morrison Boulevard, Charlotte, NC 2821 1 peter.levinson@ubs.com 704.362.8278 ©2007 UBS Financial Services Inc. All Rights Reserved. Member SIPC
The Charlotte Jewish News (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 1, 2007, edition 1
9
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75