Endowment Funds at Temple Aliyah
Please consider making a gift to a Temple Aliyah Endowment Fund that will strengthen and invest in our community’s future to ensure that our children and grandchildren will have the opportunity to thrive, learn and carry forth the ethical values of Judaism. An Endowment Fund is a pool of assets held separately from Temple Aliyah’s general funds and subject to the legal restriction that only its “income” may be used for general operating purposes. Endowed Funds may be restricted or unrestricted for use but in all cases the intent is to only use the income of the fund for the specified purpose and thereby preserve the corpus in perpetuity.
Unrestricted Funds
In 2007, Temple Aliyah launched a successful community campaign to raise a permanent unrestricted endowment to ensure the Temple’s vitality through our lifetimes and for future generations. Our current unrestricted Endowment funds are invested in the Jewish Community Endowment Pool, LLP (JCEP) which is managed by professional investment advisors. Our current distribution strategy (and one common to many new endowment funds) is to build the Fund and collect the remaining pledges from our initial campaign, with the expectation that by 2012 we will begin making annual distributions of 3-4% of income from the Fund to supplement the Temple's operational budget as needed and for targeted programming. The Board of Trustees may use distributed income in any way it deems appropriate, just as it now determines how to utilize dues and current gifts.
Our goal is to grow our Fund to approximately $3 million. To help realize this goal, the Funds and Endowment Committee is planning a major bequest campaign to increase donations to the Fund. This will include sponsoring educational programs to educate the community about planned giving opportunities. (see below) Our hope is for every TA family to name the Endowment Fund as a designated charity in their estate plans.
Restricted Funds
A number of Temple members and their families have set up restricted endowment funds for the benefit of the Temple Aliyah community. These funds are designated by the donors to be used for specific purposes, with the income used for the specified purpose while the corpus is preserved. Restricted endowment funds may be named in someone’s honor or memory provided that the corpus is at least $36,000.
Click here to learn more about how you can contribute to Temple Aliyah Endowment Funds, contact Debbie Kurinsky or David Levy Co-Chairs of the Temple Aliyah Endowment Committee, or submit an Inquiry Form and someone from the Endowment Committee will contact you as soon as possible.