 | ||||||
Your Charitable Giving Partner
2nd Quarter 2011 Fund Holder Update
We are pleased to present an update for Jewish Foundation fund holders along with fund statements for the period ending June 30, 2011.
The 2nd quarter saw increased activity in the area of charitable estate planning for the benefit of our Jewish community agencies. Several fund holders developed legacy plans that included their donor advised funds as the beneficiary of charitable bequests. Some of the legacy commitments were made through the establishment of new life insurance policies. Insurance provides many donors with the opportunity to establish a much larger gift than they would be able to contribute during their lifetimes. To date, the Jewish Foundation of Memphis is the owner of 21 life insurance policies with death benefits valued at $5.5 million. Sample premiums can be found by clicking on the following link: Charitable Gifts of Life Insurance.
2nd Quarter Grants
Grants awarded for the first half of 2011 from donor advised funds and other funds of the Foundation totaled $1,855,708. 70% of grant dollars were directed to the Foundation's partner agencies totaling $1,312,844.
Investment Update
The Foundation's investment committee chaired by Charles Jalenak continues to meet quarterly with Consulting Services Group (CSG) to review investment allocations and managers. To review returns through June 30 click on the following link: June 30, 2011 Investment Returns.
Important Forms
Listed below are links to important forms for fund holders. I encourage you to bookmark these links so they are easily accessible when you need them.
Pictured above are fund holders Jill and Ken Steinberg along with their insurance agent Milton Knowlton and Foundation Executive Director Laura Linder. The Steinbergs recently established a charitable legacy through life insurance to support the Jewish Community Center at the end of their lifetimes.
Reminders
Minimum grant recommendation has been reduced to $50. A copy of our new Operating Procedures for Donor Advised Funds can be accessed here.
New grant opportunities have been added to our agency "wish list." We hope you'll consider one of these opportunities when you are making your next round of grant recommendations.
Contact us Today
901-374-0400
| ||||||
