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Sheldon and Nancy Dan Create a Jewish Legacy for Baron Hirsch through the Establishment of an Endowment Fund

JEW ISH FOUNDATION OF MEMPHIS

A n E n d o w m e n t i s F o r e v e rVolume XI, Number 2

Fall 2012

Partner Agencies

Anshei Sphard-Beth El Emeth Congregation

Baron Hirsch Congregation

Beth Sholom Synagogue

Bornblum Solomon Schechter School

Jewish Family Service

Margolin Hebrew Academy/ Feinstone Yeshiva of the South

Memphis Jewish Community Center

Memphis Jewish Federation

Memphis Jewish Home and Rehab

Temple Israel

Kay SaslawskyPresident

Laura K. LinderExecutive Director

Josie BallinDirector of Marketing

and Programming

Alyson Chensasky Director of Legacy Gifts

Sheri G. GadberryBusiness and Donor

Advised Fund Manager

6560 Poplar Avenue, Memphis Tennessee, 38138 | 901.374.0400 | 901.374.0451 fax | www.jfom.net | jfom@jewishfoundationofmemphis.org

When you grow up in one particular synagogue, it is truly special. Baron Hirsch is that for me,” Sheldon

Dan said of his passion for the synagogue where he and four generations of his family were members. This passion grew from the example set by his parents. And, it is this passion that led him and his wife, Nancy to create the Mildred and Jerome Dan Memorial Fund at the Jewish Foundation of Memphis, a fund that year after year, in perpetuity, will provide a gift for the synagogue equal to his parent’s annual dues.

Mildred and Jerome Dan, l’v (pictured above), shared a profound dedication to the Memphis Jewish community and Baron Hirsch in particular; Sheldon felt his parents would want their estate used for a good purpose. “This is an appropriate way to honor them and what they worked so hard to create in this Jewish community.“ Sheldon Dan can trace his family roots back four generations at Baron Hirsch. His great-grandfather, a Lithuanian immigrant,

settled in Memphis in the 1880s and became involved in what would become Baron Hirsch Synagogue. Throughout the generations, Baron Hirsch was at the center of Jewish life for the Dan family and was where they turned for all lifecycle events including Sheldon and Nancy’s wedding in 2001. “Dad and Mother went regularly to Shabbat services. During a time when I lived out of town I sat next to Dad in shul when I would visit. Those memories are what I treasure most,” Sheldon reminisced. He continued, “My parents inferred their commitment to the synagogue through their activity and their roots in the congregation.” Sheldon is an only child. He and Nancy recently relocated from Memphis to south Florida. Though they no longer reside in Memphis, they have left a lasting Jewish legacy. “What is important above all is the fact that there is a Jewish community that we can always call home,” said Sheldon.

Nancy and Sheldon Dan

A legacy gift is a gift that’s given with the specific goal of sustaining a particular program, organization or cause. Most often it’s a gift

to an endowment fund that is guided by a set of spending and investment rules that ensure that the fund’s purpose is carried out over a long period of time - and in some cases, forever. Legacy gifts can be given during a donor’s lifetime with cash, securities or other marketable assets or as part of a donor’s estate through a bequest, life insurance policy or another deferred gift vehicle.

Endowment Funds Create a Lasting Jewish Legacy; What is a Legacy Gift?

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Herta and Dr. Justin H. Adler Philanthropic FundPeggy and William Adler Family FundMichael and Karen Alabaster Family

Philanthropic FundSamantha and Lon Alperin Tzedekah FundANASHIMArney Family FundValerie Kaplan Arnold FundCarol and Philip Aronoff Philanthropic FundBen and Larisa Baer Philanthropic FundIsadore and Miriam Baer Family Philanthropic FundLisa and Dan Barzel Charitable FundScott and Suzanne Baum Philanthropic FundStephen and Golden Bearman Philanthropic FundSandra and Ben Beatus FundHarriet and Lawrence Beck Philanthropic FundBelz PSJM Charitable FundAnise and Ronald Belz Family Philanthropic FundKara and Paul Bierman Family Tzedekah FundDot and Stanley Bilsky FundBloch Family FundBlockman Philanthropic FundMary and Maury Bronstein Family FundRose Merry Brown and Aron Livnah

Philanthropic FundJanet H. Brueck Philanthropic FundCarvel Family Philanthropic FundSam and Patricia Chafetz Philanthropic FundBarry and Susan Chase FundAvrahm and Paula Cohen Philanthropic FundEliot and Bonnie Cohen Charitable FundHallie and Jay Cohen FundRachel Cohen Endowment FundRobert and Joanne Cohen Philanthropic FundTed I. Cohen Endowment FundAileen and Pace Cooper Torah FundDebra L. Cooper Philanthropic FundIrby and Bernice Cooper Philanthropic Fund

Jeremy Cooper FundTova and David Cooper Philanthropic FundHelga R. and Eric H. Cornell FundBarbie and Ray Dan Philanthropic FundTerry and Sharon Dan Philanthropic FundJewish Heritage FundStanley and Patti Elster Family FundElDov FoundationEmerson Family Philanthropic FundEngelberg Family Charitable FundEpstein Segal Philanthropic FundJonathan and Leslie Epstein Charitable FundLeonard and Rhonda Feiler Philanthropic FundThe Finestone FundWendy and Avron Fogelman

FoundationMargo and Mark Fogelman Family FundRichard and Kimberly Fogelman

Family Charitable FundThe Martha and Robert Fogelman FundDavid J. Forgosh Philanthropic FundPaige Magdovitz Frankfurt and Tal

Frankfurt Philanthropic FundSara and Leonard Frey Philanthropic FundShirley and Bernard Frisch Family Philanthropic FundFrisch Family FundElroy and Dorothy Gellerman Philanthropic FundMarlene and Herbert Gerson FundBob and Brenda Gold Philanthropic FundThe Goldsmith Family FundGoldsmith Family Philanthropic FundDora T. Goldstein Memorial Endowment FundEdward J. Goldstein Philanthropic FundJeff and Bunny Goldstein FundJerome and Sondra Goldstein Family FundMichael and Sharon Goldstein Family FundDavid Goodman FundDonna and Bob Goodman Fund

Jack and Roseanne Goodman Philanthropic FundScott Goodman and Barbara Masoner FundThe Gortler Family FundEvelyn and Marlin Graber Philanthropic FundGlenn and Pamela Graber Philanthropic FundJerrold J. and Martha S. Graber Philanthropic FundRoy and Tova Graber Family FundSteve and Esther Graber Philanthropic FundTeri and Larry Graber FundEdward Grauman Philanthropic FundRon and Mimi Grossman Philanthropic FundLeslie and Faylese Gruber Family FundMargo and Todd Gruen Philanthropic FundMason Paul Gudelsky FundDiane and Mark Halperin Philanthropic FundJerome H. Hanover FundIris and Ronald Harkavy Philanthropic FundIan Lawrence Harkavy Philanthropic FundLaura and Lee Harkavy Philanthropic FundAllan and Marcia Hayden Philanthropic FundSigmund F. Hiller FundEllen and Steven Hirsch Philanthropic FundAllen & Kay Iskiwitz Family FundBarbara and Arthur Jacobs Family FundEthan K. Jacobs Tzedekah FundMonique and Charles Jalenak Charitable FundNatalie and James B. Jalenak Charitable FundPeggy E. and L.R. Jalenak, Jr. Family Philanthropic FundJamie Magdovitz Johnson and Nolan Johnson Philanthropic FundJohn and Hilda Kapell Philanthropic FundThe Bene and Saul Kaplan FundCheryl and Gary Kaplan Fund

Judy E. Katz FundLisa and Seth Kaufman Tzedakah FundIda and Louis Kessler Family FundRobert H. Kessler Memorial FundBarbara and Scott Klazmer Philanthropic FundKnobelburger FoundationMinette and Jay Kochman Philanthropic FundToba and Leslie Kornberg Philanthropic FundJudy and Morris Kriger Philanthropic FundKrueger Family Charitable FundHeidi Kulbersh Memorial Endowment FundThe Sunshine FundGeri and Hal J. Lansky Philanthropic FundJoyce and Bernard Lansky Philanthropic FundRoselyn and Harold Lapides Philanthropic FundDebbie and Stuart Lazarov Family Philanthropic FundJoyce and Buddy Lazarov Family FundSidney and Roselle Lazarov Philanthropic FundSuzanne and Paul Lazarov Philanthropic FundDiane and Steven Leib Philanthropic FundNancy and Michael Levinson FundLevit Family FundDonny and Shelley Levy Philanthropic FundSandy and Kirke Lewis Philanthropic FundJoan and Michael Lightman Family Philanthropic FundLaura and Jimmy Linder Family FundBernard and Sue Ann Lipsey Philanthropic FundLewis and Debra Loskovitz FundMagdovitz Children’s FundBarbara and Earl Magdovitz Tzedekah FundBrett Magdovitz Philanthropic FundMagdovitz Family Foundation

Donor Advised Philanthropic Funds

Donor Advised Philanthropic FundsA Great Way to Manage Your Charitable Giving

What is a Donor Advised Philanthropic Fund?

A donor advised philanthropic fund (DAF) is a “charitable bank account” established by an individual donor or family at the Jewish Foundation of Memphis. You may make irrevocable contributions to your fund and receive an immediate charitable tax deduction in the year that you make your gift. You may then make recommendations to the Foundation regarding charitable distributions. Organizations receiving grants from the Foundation must be 501 (c) 3 organizations. Tens of millions of dollars have been disbursed from Foundation funds to local and national non-profit organizations since 1996.

What types of assets can be used to fund a DAF?

Your Donor Advised Fund provides you the maximum deduction allowed by law, and the Jewish Foundation of Memphis has the expertise to accept a wide-range of assets. This includes cash, appreciated securities, restricted and closely-held stock, limited partnerships, real estate and other tangible assets.

What is the advantage of having a DAF with the Jewish Foundation of Memphis?

Many of our fund holders enjoy the simplicity and convenience of having a fund, especially when utilizing securities for charitable donations. With a single stock contribution

to the Foundation, multiple charities can be supported. We have accounts at most local brokerage firms making the transfer of stock a simple and preferred way for donors to make contributions. And, when you donate appreciated securities to a Donor Advised Fund, you may immediately deduct their fair market value from your taxes, without incurring any capital gains liability. Many families establish funds when they have a need to maximize charitable deductions (such as the sale of a business). Once the Foundation receives your contribution, funds are invested and grow tax free until you decide which charities to support. Fund holders do not have to keep up with all of the donations to various charities. Each quarter you will receive a statement listing contributions and grant distributions made from your fund.

Do all grants have to be made to Jewish organizations?

No. Grants can be made to any qualified 501 (c) 3 organization. However, on average, more than 70% of all grants from the Jewish Foundation of Memphis support Jewish organizations.

What are the tax benefits?

The Foundation is a qualified charity so donors receive an immediate charitable tax-deduction when contributions are made to their DAF. Each time a gift is made, you will receive an acknowledgement letter to be used for tax purposes.

How do DAFs help the Jewish community?

The Mission of the Jewish Foundation of Memphis is to secure permanent endowment assets for Memphis Jewish organizations. Through nominal fees generated by the funds, the Foundation is able to focus on its core work of securing permanent endowment assets for local, Jewish institutions.

How is my DAF invested?

When you establish your fund, you are provided with information on the various investment options available to fund holders and are given the opportunity to choose how your fund is invested. Each quarter a committee of the Jewish Foundation reviews the performance of the Foundation’s investment managers. Assets grow tax free increasing the amount of monies available to support your favorite charitable organizations. Fund advisors with DAF balances of $500,000 or more are given the option of using either the Foundation’s investment platform or their personal investment manager(s).

What happens to my fund at my death?

At the time you establish your DAF, you complete an application which includes instructions regarding the use of the fund at your death. Some donors recommend that disbursements be made immediately to their favorite charitable organizations while others name their children as successor advisors, allowing them to carry on the family tradition of philanthropy. You can also add to your fund at death by naming your DAF as the beneficiary of charitable estate gifts.

Can I involve other members of my family in my DAF?

DAFs present a great opportunity to involve multi-generations of your family in philanthropy. Jewish Foundation staff can work with you to write a mission

statement, set spending guidelines and develop a grants process. Depending on your goals, structures can be established that allow your children and even your grandchildren to become actively involved in your grant-making.

How do I set up a Donor Advised Fund?

Setting up your fund is simple. All that’s needed is a completed fund application, a gift of $5,000 or more to open the fund and your choice of investment option.

The Benefits of Opening a Donor Advised Philanthropic Fund•

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JE WI SH FOUN DATION OF M EM PHIS

www.jfom.net

Open Your Fund Today

901.374.0400or go to

www.jfom.net to download an application

Simplify your charitable giving

Receive an immediate charitable tax deduction

Choose how your fund is invested for tax-free growth

Provides a way to involve successive generations in tzedakah

Grant recommendations can be made at times most convenient to you

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Mitch and Fox Magdovitz Philanthropic Fund

Gary and Dinah Makowsky Philanthropic FundJerome and Evelyn Makowsky Charitable FundMay Lynn and Charles Mansbach Philanthropic FundSally and Herman Markell Philanthropic FundMarkowitz Family FundJonathan and Stephanie Marks Family Philanthropic FundDavid and Tracey Mendelson Tzedekah FundJeffrey and Laurie Meskin Family Philanthropic FundMirvis Family FundJulia C. Morrison Endowment FundRachel and Anthony Morrison Charitable FundRose L. Morrison FundJeri and Mitch Moskovitz Family FundNewburger Family FundNewburger FundNat Newburger Philanthropic FundAlvin and Marcia Notowich Philanthropic FundMarilyn and Herb Notowich Philanthropic FundScott and Jill Notowich Philanthropic FundErin Ostrow Philanthropic FundLyda G. Parker Philanthropic FundBarry and Billie Pelts Family FundLinda and Don Pelts Philanthropic FundArnold and Mary Lynn Perl Family Philanthropic FundThe Billie and Joseph Pierce Family Charitable FundMarvin and Eileen Posner Philanthropic FundMaury and Elaine Radin Philanthropic FundJudy and Neil Ringel FundJoe and Jennifer Roberts Philanthropic FundRita and Axel Robins Charitable FundNancy and Richard Robinson Philanthropic Fund

Meryl Shahun Rosen Philanthropic FundJacob and Miriam Rosensweig Philanthropic FundJessica H. Rosenthal Memorial FundWendy and Cary Rotter Family FundJudith E. Royal Philanthropic FundCindy and Bill Sacharin Charitable FundDebra and Alex Saharovich Philanthropic FundAlan and Sherry Samuels FundDavid Alan Samuels Charitable FundAndy and Betsy Saslawsky Family FoundationKay Usdan Saslawsky Philanthropic FundRhonda and Mark Saslawsky Family

Philanthropic FundLogan Scheidt Philanthropic FundMarty and Jackie Scheinberg Philanthropic FundSchneider Family FundAllan and Julie Schoenberger Philanthropic FundIrvin L. and Deanna S. Serenco Philanthropic FundShainberg Lawson Philanthropic FundBarbara and Terry Shainberg Family FundRaymond and Toby Shainberg Philanthropic FundRachel and Stephen Shankman Philanthropic FundConnie and Mike Sherman Family FundAlayne Shoenfeld Philanthropic FundLarry and Jody Shutzberg Family FundStacy and Jerry Siegler Family FundSilver Family Philanthropic FundJerry and Louise Sklar Philanthropic Fund Ron and Linda Ellen Sklar Family Philanthropic FundElaine Wagner Skopp Philanthropic FundSheldon and Laurie Smith Family Fund

Robert and Jackie Solmson FundShayna and Brad Somer Philanthropic FundJill and Ken Steinberg Philanthropic FundMorris and Bea Steinberg Family Philanthropic FundMyrna and Myron Thomas FundMariette and Joel Turetzky Tzedekah FundMichael and Andrea Uiberall FundLinda and David Usdan Family Philanthropic FundStacy and Scott Vogel Charitable FundAlyse Michelle Wagner Philanthropic FundWarren Family Charitable FundWein Family Philanthropic FundIra and Deborah S. Weinstein Philanthropic FundCathy and Craig Weiss Family Fund

Danny and Saralyn Weiss FundJeanne and Irving Weiss Philanthropic FundMichael and Marcia Ann Weiss

Philanthropic FundPatti and William Weiss Family Philanthropic FundElliot and Penina Wender Philanthropic FundJill Wender Philanthropic FundMolly and Jason Wexler Family FundMichael Wilons Philanthropic FundAndy and Tricia Woodman Philanthropic FundHarold and Judy Wormser Philanthropic FundDena and Gary Wruble Philanthropic FundLawrence and Diane Wruble Philanthropic FundJocelyn Dan Wurzburg Philanthropic FundStuart and Carol Zalowitz Philanthropic Fund

Support Organization

Belz 2008 Foundation

To Open A Fund Contact the Jewish Foundation:

901.374.0400 or

www.jfom.net

Simplify charitable giving.•

Take an immediate charitable tax deduction.•

Recommend how to invest fund dollars for tax-free growth.•

Provides a way to involve successive generations in tzedakah.•

Leave all the paperwork and checkwriting to the Foundation.

Why Open a Donor Advised Fund?

JEW ISH FOUNDATION OF MEMPHIS

A n E n d o w m e n t

i s F o r e v e r

6560 Poplar Avenue, Memphis, TN 38138 NONPROFIT

ORGANIZATION U.S. POSTAGE

PAID MEMPHIS, TN

PERMIT NO.374

w w w . J F O M . n e t

We've Created Our Jewish– Have You?

LegacyHelp define the future of the Memphis Jewish community through a gift in your estate

Contact Alyson Chensasky at 901.374.0400 for more information

www.jfom.net