Year one of a four-year community-wide Life and Legacy program spearheaded by the Federation and the Harold Grinspoon Foundation (HGF) closed on March 31. The objective of this collaborative effort is to preserve vibrant Jewish life for future generations by creating a culture of legacy philanthropy. The establishment of endowment funds secures the long-term financial health of Jewish community organizations and enables them to maintain and build vital relevant programs. The Life and Legacy program provides financial incentives, training sessions, staff support and marketing resources to teams of dedicated leaders and staff at participating organizations to guide and steward this venture.
Mike Wasserman, Life and Legacy program chair, noted that “recent studies cite that organizations need to generate 20 percent to 25 percent of their operating budget from endowed funds in 20 years to meet their obligations. The Life and Legacy program addresses this and is now under way in 30 Jewish Federation communities. Nationally, HGF to date has helped its partners secure more than 14,000 after-lifetime commitments, valued at more than a half-billion.”
We are very excited to report that in the heart of New Jersey, 224 Legacy gifts have been raised with an estimated future value of $5.8 million, benefitting 15 Jewish institutions in Monmouth and Greater Middlesex Counties. Ten participating organizations working together reached their incentive goals and collectively earned $100,000 in financial incentives. Legacy team members were honored for their outstanding results at a stewardship training seminar and Year One Celebration on June 14 at the Jewish Heritage Museum in Freehold.
Join other visionary members of our community in securing a strong Jewish future here in our community. It’s easy to create your own personal legacy by signing a simple letter of intent, which is a non-binding promise to leave a gift in the future to the organization(s) of your choice. Let organizations know if you already worked with a financial adviser to include them in your future plans. In addition, if you choose to support one of the participating organizations, you will help them earn a monetary incentive. Go to www.jewishheartnj.org to easily access contact information for participating organizations and our simple letter of intent. Click on Life and Legacy.
Please contact Paul Rovinsky at [email protected] or one of our partner organizations with any questions.
By leaving a legacy gift, you help ensure that the values and services of Jewish organizations you care about will be part of our community long into the future. In this way, we work together as a community to strengthen the financial security of all our Jewish institutions in perpetuity.