The Charlotte Jewish News - November 2013 - Page 18
Community Hews
FCJC Donor Advised Funds
A Flexible and Tax Efficient Way to Manage Charitable Giving
Looking for a more simplified
and tax effieient way to make
eharitable gifts, Julie and David
Sheffer established a philan-
thropie fund at the Foundation for
the Charlotte Jewish Community
(FCJC). With the guidanee of
FCJC’s professional team, the
Sheffers established an FCJC
Donor Advised Fund. This giving
vehiele offers families a eonven-
ient way to eentralize and manage
giving, allowing donors to make
tax-deduetible eontributions today
for future eharitable gifts to both
Jewish and seeular nonprofits
throughout the nation. Donors ean
identify eauses to support, make
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gift recommendations and
establish a charitable
legacy - all while FCJC
handles the administration.
“We manage everything
online and can easily rec
ommend grant distribu
tions, track giving over time, and
consolidate our end of year tax re
porting, “said David Sheffer. “We
chose the Foundation for the
Charlotte Jewish Community over
other alternatives because of its
affiliation with the Jewish com
munity of Charlotte and many of
the charities close to our heart.
The Foundation put procedures in
place that assisted us in the way
we think about charitable giving.
We would highly recommend oth
ers consider the same.”
An FCJC Donor Advised Fund
can be opened with as little as
$10,000, and can be established
with a variety of assets, including
complex gifts such as real estate
or closely held business interests.
Funds can grow over time through
a variety of investment options
with no tax consequence for the
donor. Donors can manage their
accounts and recommend grant
distributions to nonprofits through
an online portal, making giving
easy and convenient.
Unlike a private foundation,
donor advised funds have no start
up costs, annual filing require
ments, governance requirements,
or annual minimum payout.
FCfc
FOUNDATION
CHAHlOTTK lEwlSH
COMMUNITV
Donor advised funds can also
offer superior tax advantages. And
through an Investment Alliance
Program, donors can recommend
that their investment advisors
manage the portfolio, with a
newly lowered minimum balance
of $250,000 to participate.
FCJC Donor Advised Funds
can also be an effective way to fa
cilitate legacy giving. FCJC can
provide long-term stewardship for
family assets, fulfilling the fam
ily’s wishes in perpetuity. Flexible
succession plans allow donors to
name family members as succes
sor advisors, or to permanently
endow the nonprofits they care
about most.
While many clients initially se
lect donor advised funds, an in
creasing number are considering
this giving vehicle as an alterna
tive to private foundations and
elect to convert their private foun
dations to a donor advised fund.
More information about FCJC
and FCJC Donor Advised Funds
can be found at www. charlotte-
jewishfoundation.or or by contact
ing Phil Warshauer at 704-
973-4544 or pwarshauer@char-
lottejewishfoundation.org. ^
Our Jewish Community’s
Newest Legacy Donors
The following individuals/families have reeently in
formed our eommunity, through Foundation for the Char
lotte Jewish Community (FCJC) or one of the ten Create
Your Jewish Legaey eommunity partners, that they have
ereated a legaey gift to support the future of Charlotte’s
Jewish eommunity. These individuals have established 17
new legaey gifts. Some are ereating legaey gifts for the
first time while others have added new organizations to
their previously ereated legaey plans. There are now 170
individuals/families throughout our Jewish eommunity who
have ineluded a loeal Jewish organization in their legaey
plans ereating 325 unique legaeies. We thank our newest
legaey donors and weleome them into our eommunity’s
Book of Life Soeiety.
Anonymous (1)
Benjamin and Susan Aizenman
Brian and Sonia Cohen
Beth and Miehael Cupp
Alan and Merle Gottheim
David A. Lash
Ross C. Levin
Create
' 'ouj^ewish
Le^ac^
d'