Life & Legacy Endowment Opportunities
“As others planted for me,
so I am planting for the generations who come after me.”
Our Past
Generation after generation, our heritage has been carefully and lovingly preserved at Ohef Sholom Temple by those who came before us. The fruit of their labors has provided us a treasured community that functions as a place of worship, a gathering space, a cultural learning venue, a center for community outreach, and a historical site all in one. This house – our house – is the legacy planted by preceding generations and it is up to us to continue that legacy, ensuring that Ohef Sholom Temple is, and always will be, “A House of Prayer For All Peoples,” including our children, our grandchildren, and all generations to come.
The Ohef Sholom Foundation was created in 1990 to help us secure our long term future. Its principal mission is to raise funds to grow our endowment, and additionally, to manage these funds in a prudent and fiscally responsible manner, meeting first the donors needs and simultaneously the Foundations. The funds endowed to OSF provide for needs above and beyond general operating needs, in times of prosperity and especially in times of challenge. Relationships are at the core of this task. Cultivating and nurturing strong relationships with our congregants is vital to this endeavor. Educating our members about the mission and means needed to carry out our mission, and listening to what’s important to our congregants and the values they live by.
Since its creation, the OSF has been successful in building a strong foundation for OST. As a result of The Eternal Light Society created in 2011, and most recently the 4-Year LIFE & LEGACY Campaign from 2017-21 sponsored by the Harold Grinspoon Foundation and in partnership with the Tidewater Jewish Foundation, Ohef Sholom was able to grow our endowment significantly. The LIFE & LEGACY Campaign on its own added 81 new legacy commitments totaling an estimated $3.5 million in current and future gifts.
Our Present
While the LIFE & LEGACY campaign is “officially” ended, growing our endowment is never ending priority. It is our obligation and privilege to make sure Ohef Sholom Temple will be a thriving community for our children, grandchildren and the generations to come. We remain steadfast in our commitment to fostering a culture of philanthropy, one conversation at a time.
Today, our Foundation has invested and expected assets of over $15.5 million, of which over $6.5 million is invested in nearly 80 specifically named or designated funds and over $9 million has been committed to the Foundation in promised future gifts. In 2020/21, the Foundation contributed $248,766 in unrestricted contributions to our budget and restricted gifts that enhance the vitality and support the operations of Temple keeping us relevant to older and newer generations in our community.
Our Future
Growing and nurturing relationships within and outside our community by:
- Implementing both a comprehensive Sustainability Plan for Legacy Giving and Stewardship Plan for enhancing donor relations.
- Intentional outreach to our community to enhance understanding of the importance of legacy giving and philanthropy.
- Fostering in all generations and ages a culture of gratitude.
Our goals for the future include:
- Continue to work towards goal of 100 commitments, minimum of 5 annually
- Stewarding our donors
- Educating our congregation on Ways to Give
Ways to Give
Bequest By Will
The easiest and most common option for a legacy gift and it costs you nothing today.
Life Insurance
Designate Ohef Sholom as the beneficiary of a current life insurance policy or work with us to establish a new policy to benefit one or more organizations. This is a preferred route to a legacy gift for many young philanthropists. In addition, this option may help reduce your tax burden.
IRA Designation or Current Gift of Retirement Assets
If you are over age 70 1/2, this is a tax advantaged gift option, particularly after recent federal tax changes.
Cash
Cash gifts can be used to make an impact today or can be set aside and allowed to grow so you can make a greater impact tomorrow.
Real Estate
Gifts of real estate can help avoid capital gains tax.
Marketable Securities
Stocks, bonds, or other appreciated securities can be gifted to avoid capital gains and an immediate charitable deduction is provided based on current market values.
Life Estate Reserved
Transfer the deed of your home (or vacation property) to Ohef Sholom, maintain lifetime use of the property, receive a tax benefit and make a greater gift than you ever thought possible.
Closely Held Business Interests
Gift your share of property, LLCs, or partnership interests and avoid capital gains tax.
Donor Advised Fund (DAF) Residuals
Consider naming Ohef Sholom Temple as a “successor” of your account or a portion of your account value. Your designation means that Ohef Sholom Foundation can make grants and distributions from the remainder of your fund to honor your desire to help your fellow community members.
Charitable Remainder Trust
Typically, a significant asset will be used to establish this type of trust. The earnings generated provide income for you or your loved one’s life or a term of years. Upon passing or at the end of the term, the remainder of the trust assets will be left to charity.
Charitable Lead Trust
Typically, a significant asset will be used to establish this type of trust. The earnings generated will benefit the charity for a term of years. At the end of the trust term, the trust’s assets will be transferred to family.
Ohef Sholom's Legacy Team
We invite you to join us on this important and impactful journey. We want to hear what is important to your Jewish future. Our Legacy Team is available to listen and help you with leaving YOUR legacy.
Email us or call 757-625-4295 to start a conversation with us.
Matthew Fine
Ohef Sholom Foundation President
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