What types of assets may I use to establish a philanthropic fund?

Cash or stock may be used to create a philanthropic fund. Other properties may be accepted, but are subject to approval by the Foundation’s Finance Committee.

What added benefit do I receive if I use stock to create or make additional contributions to my philanthropic fund?

You receive a double tax savings: a charitable deduction for the full fair market value of the stock (if the shares have been held for at least 12 months) and no capital gain is paid on the appreciation.

What are the Tax benefits of establishing a Philanthropic Fund?

You get a deduction at the time you contribute funds to establish or replenish a philanthropic fund. You receive tax savings. A charitable deduction for the full amount of your contribution to your fund and no capital gain is paid on any increase in the appreciation the fund may receive. If you use appreciated assets to establish or replenish your fund you can avoid the capital gains involved.

May I use a credit card to create or add to a philanthropic fund? What about appreciated securities? Israel Bonds?

A credit card may NOT be used to make gifts to a philanthropic fund. Generally, appreciated securities and Israel or other Bonds may be readily used to establish a philanthropic fund or as an additional contribution.

May anyone else make gifts to my fund?

Yes, anyone may make a gift to your philanthropic fund. The gift should be made to the T.O.P. Jewish Foundation Inc. for the benefit of your philanthropic fund.

May I recommend a grant to a cultural, educational or medical institution?

Yes. Recommendations may be made to a wide spectrum of organizations. In addition to those that support Jewish causes, recommendations may be made to organizations that support the arts, education and health services. The organization must be a 501(c)3 non-profit organization.

May I recommend grant distributions from the principal and income of my fund, or just from the income?

Recommendations for grant distributions can be made from both the principal and the income of your philanthropic fund.