Q. I'd like to set up a Fund in memory of a loved one. How do I do this?
A. A Named Continuity Fund can be established with a minimum of $2,500 at JFCS. You can designate that the Fund's income be used for a purpose that is personally meaningful for you, or the Fund may be established for use where most needed. As your contribution continues to grow through prudent reinvestment, we will report to you annually about how your Fund's annual distributions were used to help people here in our community.

Q. What is a Named Continuity Fund, and how does it work?
A. A Named Continuity Fund is a permanent endowment fund, usually named by the donor for his/her family or to honor or memorialize a loved one. You may also name your Fund to commemorate a special occasion, such as a special birthday or wedding anniversary. The principal is invested in perpetuity for both growth and income. The income is used, annually, for the purposes for which the Fund is established.

Q. What is a Donor Advised Fund?
A. A Donor Advised Fund is like a mini-foundation, but without all the paperwork. You, your family and friends can transfer assets (eg., cash, securities, real estate) to your Fund and receive an immediate tax deduction (minimum $5,000). JFCS then manages the assets and you make recommendations - at any time - regarding the charities to receive grants. We go to work on your behalf, gathering information and preparing checks and transmittal letters. You receive one simple receipt for tax reporting purposes.

Q. How is a Donor Advised Fund different from a Named Continuity Fund?
A. Your Donor Advised Fund is a simple and convenient vehicle for your philanthropy. From your Fund, you and designated family members may make recommendations for the distribution of income and principle to any qualified charity. A Named Continuity Fund is a type of permanent endowment fund that will remain invested with JFCS, and working on behalf of needy people in our community, in perpetuity. Generally, only the income is used annually for the purposes for which the Fund was established.

Q. What are the tax advantages of a Named Continuity Fund or Donor Advised Fund?
A. You receive an immediate income tax deduction based on the full fair market value of your gift. If you give $5,000, and are in the 31% tax bracket, you save $1,550. So the real cost of establishing your Fund is only $3,450. In addition, if you transfer appreciated securities (held for more than one year) or real estate, you will realize additional savings as you do not have to pay capital gains taxes on the appreciation.

Q. How much does it cost to set up a Donor Advised Fund with JFCS?
A. JFCS does not charge any fee to establish or operate a Donor Advised Fund. You can consolidate all your charitable giving by having us track all your contributions and provide you with one statement for your annual tax documentation.

Q. Can I set up a Named Continuity Fund or a Donor Advised Fund in any name?
A. Yes. You can select any name that is meaningful to you. Use your own name, your family's name, or the name of someone you care about. Or be creative in honoring a special occasion (eg., "Share Our Joy Fund"; "Extend Our Happiness Fund"). Or you can select a name that conveys the purpose of the Fund (eg., "Fund for Helping People to Help Themselves"; "Max and Jacob's Toy and Food Fund"). You may also choose to remain anonymous.

Q. How are the assets for Named Continuity Funds and Donor Advised Funds managed?
A. A committee of volunteers, comprised of experienced financial managers and professional investment consultants, oversees investments in JFCS funds. This committee meets regularly to recommend professional managers for all JFCS assets, and to assess their performance. For gifts to Donor Advised Funds of $5,000, donors may recommend investment options from among several no-load mutual funds.

Q. Should I have my professional advisor talk to JFCS about establishing a Fund?
A. Both Named Continuity Funds and Donor Advised Funds can be established with a simple letter of agreement between you and JFCS. While a professional advisor's services are not required, JFCS staff are happy to work directly with your advisor to maximize the benefits of your gift - for you and for the community.

Q. What are the benefits of using stock instead of cash to initiate my Fund?
A. Donating appreciated stock or mutual fund shares (property where the current fair market value is higher than the original cost) can have significant tax benefits if you have held these assets for more than one year. Not only do you receive an income tax deduction for the current market value of your gift, but you also avoid paying capital gains taxes on the appreciation.

Q. What if I would like to set up a Fund through my will or trust? Can I do this?
A. Yes. Simply let your attorney know that you would like to make a bequest to JFCS to establish a Named Continuity Fund. We are happy to send you a simple letter of agreement, for use with your advisor, that will lead you step-by-step through the decisions you will want to make about the Fund you wish to establish: (1) a name for the Fund; (2) a purpose for the Fund; (3) a funding amount.

Q. Do I need to add to my Fund every year?
A. No. Once you have set up a Named Continuity Fund it will exist in perpetuity. If you wish, you may make additional gifts - of any size - at any time. Friends and family may also earmark gifts for your Fund. If you wish, you can also complete the funding of your Fund my making a bequest in your will or living trust.

Q. How do I make a bequest to JFCS? Is there a minimum amount?
A. You do not have to be rich to include JFCS as a beneficiary of your will or living trust. Any amount is good. And everyone can make a difference! You may indicate a specific dollar amount, a percentage of your estate, or a residue of your estate after all other beneficiaries are taken care of. If you inform us that you have made a bequest to JFCS, we will be pleased to enroll you as a member of the JFCS Heritage Circle. We'd love to thank you now!

Q. What if I'd like to make a significant endowment gift, but I still need the use of my asset's income? Is there anything I can do now, or do I need to make a bequest?
A. You have a number of wonderful options for lifetime endowment giving. And these options offer significant income, capital gains and estate tax benefits as well. With a $5,000 contribution you can join the JFCS Pooled Income Fund and receive annual income for life for yourself or a designated beneficiary. If you have more to invest, you may wish to consider the flexibility offered by a JFCS Charitable Trust. Whether it's designed to supplement your parent's fixed income, to cover the cost of your grandchild's tuition, or to ensure life income for yourself, these trusts can be designed to meet your needs now, as well as the future needs of the community.