When you make an endowment gift, your principal stays in tact forever. The income it earns it’s either reinvested so the endowment can grow, or distributed to Bais Menachem Chabad to support its mission. A foundation manages and invests the money for the purposes you choose. Your name, the name of your family, or a memorial for a loved one can be the name of the foundation or fund.
How You Create An Endowment for Bais Menachem Chabad
- Go to a lawyer who is expert in taxes and charitable giving. A separate trust or other entity, is formed while you live or in your Will, is created as the depository of the endowment gift.
- Alternatively, an existing charitable foundation can create an account in its endowment to manage your endowment gift in according to your instructions.
- Decide on the terms of the endowment; for what purposes the income is distributed; and how the funds are to be invested.
- Name the entity or fund so you and your family, or as a memorial to a loved one, is forever associated with the generosity of the gift.
- Establish how large your gift of principal will be, make the gift and allow the managers to begin investing according to your guidelines to generate the income for Bais Menachem Chabad.
- Endowments given to Bais Menachem Chabad will be managed by the TOP Jewish Foundation, or another foundation of your choosing.
Allow us to work with you, your family, and if wished, your financial adviser to develop the most personalized strategy for your goals. For more information, contact us.
You will receive proper recognition of your leadership as a member the Jewish Legacy Society.
Your commitment supports the work of Chabad at the University of Tampa in Tampa, Florida. “Bais Menachem Chabad Inc” is recognized by the IRS as an IRC Sec. 501(c)(3) organization.