Peace of Mind Gift Annuity

At September 20, 2011
By Robert
In Announcements, Create a Jewish Legacy
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Selma G. Brown has always been generous to our Jewish community. Together, with her late husband Jake, the Browns created endowments at Richmond Jewish Foundation to support senior programs at the Weinstein JCC, a lecture series at VCU, and the JCFR annual campaign.

Recently the Virginia Holocaust Museum called the Richmond Jewish Foundation offices about a donor who wanted information about a gift annuity. Richmond Jewish Foundation serves as the planned giving arm of our community and manages the Virginia Holocaust Museum’s endowed assets. Unbeknownst to us at the time, this generous donor was Selma.

After speaking with Selma’s advisor, Richmond Jewish Foundation created a charitable planning illustration that showed the benefits of creating a charitable gift annuity. Selma was pleased to discover that she would receive a good quarterly payout that was significantly higher than current CD rates, that there would be a charitable tax deduction and that part of the income would be tax-free. Most importantly, Selma was pleased to know that her charitable wishes would be fulfilled with the creation of a new endowment that would provide an annual gift to the Virginia Holocaust Museum forever.

Fulfilling the gift was easy. Selma transferred some appreciated stock to create the charitable gift annuity. Said Selma, “I was delighted with the fixed payment I would receive quarterly. My CPA and I were pleased that my charitable deduction may reduce my taxes this year, and now I don’t have to concern myself with the stock market’s fluctuations. The gift to the Virginia Holocaust Museum is secure and that gives me peace of mind.”

If you are looking for a secure source of fixed income for now or your future and want to help the charity of your choice please click here.

Are You Inscribed in our Community’s Book of Life?

At September 9, 2011
By Robert
In Announcements, Book of Life, Create a Jewish Legacy
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As Rosh Hashanah approaches, it’s time to reflect on the year that has passed and to consider the opportunities offered in the year ahead. What will this year mean for you, your family, your business, the local community, Israel and the world? What can you do to make a profound and positive difference? Along with other constructive steps to take, perhaps this is the year to make your philanthropic plan with Richmond Jewish Foundation.

When we attend High Holiday services we ask that our name be written in the Book of Life. But what if you could write your own page? What would you say?

This ancient tradition was the inspiration for our community’s Book of Life. Through the Book of Life you can transmit not just your funds, but your family history and legacy to the next generation.

These legacy gifts help ensure the future of our Jewish community, guaranteeing that the strong and vibrant agencies, congregations, museums, and schools that our parents and grandparents worked so hard to build will be here for our children, our grandchildren and generations to come.

How does the Book of Life work?
Anyone who has already committed to secure the future of Richmond’s Jewish community with a permanent fund or bequest, or promises to do so in the future through Create a Jewish Legacy, to any of our partners, Israel, or any charitable organization that endeavors to sustain the Jewish people, is eligible to join the Book of Life. You will be presented with a page to inscribe, with your own thoughts and words, the meaning behind your gift.

Your Book of Life page, along with a family photograph, will then be added to the existing statements that can now be viewed in the interactive display at the Weinstein JCC. Together, these stories will tell future generations our story— the story of Richmond’s Jewish community.

What do I do next?
If you or your family have already created your legacy or promised to do so through Create a Jewish Legacy you are eligible to write your Book of Life page. If you would like to create a gift benefitting your favorite cause, congregation, agency, program, service or philanthropic need we are available to talk with you confidentially and without obligation. We can help you understand the various options and if you decide to proceed we can assist you in completing your gift.

Please click here to learn more about our community’s Book of Life.

Register for the September 7, 2011 Hirschler Seminar

Richmond Jewish Foundation, in cooperation with Hirschler Fleischer, will host the 6th annual Edward S. Hirschler Memorial Professional Advisors Seminar for attorneys, accountants and financial planners on Wednesday, September 7, from 7:30 – 10am at the Weinstein JCC.

The seminar will focus on how the 2010 Tax Act changed the ground rules for wealth transfer. The lecture will be delivered by Nina Cohen, Charles Aulino and Adam Conish from Glenmede, Richmond Jewish Foundation’s new investment manager.

The lecture is made possible through the generous support of this year’s sponsor, Biegler and Associates. Free continuing education credits are pending. To register for the seminar please click here.

Making Philanthropy Affordable with a Donor Advised Fund

The RJF board recently changed the Donor Advised Fund (DAF) policy to make philanthropy more affordable. The minimum amount to start a DAF is now $5,000 and the minimum that must be maintained in the fund is now $2,500 (new minimum applies to existing DAFs, as well).

A donor advised fund offers the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to direct giving or creating a private foundation. Donors enjoy administrative convenience, cost savings, and tax advantages by conducting their grantmaking through the fund. Donors can use their funds to recommend grants to all non-profit charities including local agencies, synagogues and the Federation. You can start your fund with cash or appreciated stock and take three years to fund to the $5,000 minimum level.

There is a one-time $100 set-up fee. The fund will be charged an annual fee of 1% of the fund’s balance with a minimum annual fee of $250

If you are interested in starting a donor advised fund with Richmond Jewish Foundation please click here to apply or click here for more information.

Please feel free to call the RJF office at 545-8656 or email Robert Nomberg if you have any questions about donor advised funds or if you are having problems accessing the online DAF application.

Glenmede Selected as Investment Manager

Stuart Cantor, Chairman of Richmond Jewish Foundation, announced that RJF has selected Glenmede as its new partner to manage the organization’s $30 million in assets. In this role, Glenmede will serve as an outsourced chief investment officer taking on shared fiduciary responsibility for the assets under management. “RJF has enjoyed our relationship with SEI, but both the markets and our needs have changed over the last five and a half years. The review process conducted by Adam Plotkin and his committee concluded that now was an appropriate time for RJF to make a change. I am excited about the possibilities that Glenmede offers for RJF’s continued growth. I want to thank Adam Plotkin and his committee for their diligent work during this six-month review process,” said Cantor.

Adam Plotkin, Chairman of RJF’s investment committee stated that, “Glenmede’s ability to provide ongoing fiduciary responsibilities and tactical asset allocation, as well as an enhanced manager selection protocol, was critical to the selection process. Glenmede’s expertise and focus allows our investment committee to play a greater strategic role by focusing on the big picture and by making decisions that impact the overall direction of RJF’s perpetual mission, rather than getting bogged down in the day to day market gyrations that specifically impact how we may invest individually.”

“We are pleased to partner with the Richmond Jewish Foundation in the management of their current assets and in the development of new funding opportunities that will serve the Richmond area and the Jewish community today and for generations to come” said Nina Cohen, Director of Glenmede’s Philanthropic Advisory Services.

Members of the RJF committee include Beryl Ball, Andy Brownstein, Ron Felmus, David Gardner, Seth Kaplan, Stewart Kasen, Roger Leibowitz, Beth Long, Gail Moskowitz, G.D. Rothenberg, Mark Sisisky and Bob Weisberger.

About Richmond Jewish Foundation
For over 30 years, Richmond Jewish Foundation has provided planned giving and endowment services, including agency fund administration, donor-advised funds, charitable trusts, scholarships and more, to individual donors, families and charities interested in either Richmond area causes or matters of concern to the Jewish community. Stuart Cantor serves as Chairman of Richmond Jewish Foundation; Adam Plotkin chairs the investment committee and Robert Nomberg is the President & CEO.

About Glenmede
Glenmede is an investment and wealth management firm founded in 1956 by the Pew family to manage the assets of their charitable interests. Today, it provides endowments and foundations nationwide with investment management, foundation administration, grants management, and fiduciary, tax, advisory and consulting services. Headquartered in Philadelphia, the firm has offices in Delaware, New Jersey, New York, and Ohio. Nina Cohen is the Director of Philanthropic Advisory Services, Adam Conish, CFA is the lead portfolio manager for Endowments and Foundations, and Huldah Robertson is the Business Development Manager. For further information, please visit www.glenmede.com.

RJF Celebrates at Annual Meeting

Richmond Jewish Foundation recently celebrated its 31st year serving as the planned giving and endowment arm of our community.

The May 18 annual meeting began with a live performance by Congregation Beth Ahabah’s Ruach Hadash youth ensemble. The group received a grant from the Rachel B. Banks Youth Fund to expand the scope of Jewish music experience for both the student performers and the community.

RJF Chairman Stuart Cantor highlighted the Foundation’s accomplishments for the year, including strengthening ties with the Federation, developing a new Israel investment option for our donors and agencies, and beginning the process of reviewing the current investment adviser.

RJF President & CEO Robert Nomberg announced that the Foundation was managing over $30 million in assets and finished the calendar year +13.8%. He also reported that Sara Belle and Neil November, Willa and Malcolm (obm) Kalman, Rebecca Kalman-Winston and David Winston and Glenda and Brian Bernhardt added statements to the Book of Life. Also 88 individuals and families have created 176 legacies for the community for an estimated $12.7 million as part of Create a Jewish Legacy.

Cantor presented Charles Swartz with a Chairman’s Award for his distinguished service. Swartz chairs the Foundation’s Legal and Tax Committee and is a member of the Executive Committee. This past year Swartz helped guide the Foundation through difficult legal and tax terrain as the it amended dozens of fund agreements to help provide more funds for the community.

Ric Arenstein presented Stuart Siegel with the Anne and S. Sidney Meyers Endowment Achievement Award. The award honors those who have promoted the growth of Richmond Jewish Foundation, given financially and exhibited the qualities of “leadership, vision, imagination and activity.”

In accepting the award, Siegel stated, “Just as we provide for the future security of our own children, it becomes the responsibility of each of us to do whatever we can to create a future filled with promise for Jews here at home and across the world. And that’s the role and largely the mission of Richmond Jewish Foundation. In these tough economic times, it’s often difficult to focus on the generation yet to come, but we need to do so nonetheless. For the future of the Jewish people, the Richmond Jewish Foundation stands as our investment and our safeguard.”

Past Chair Debra Gardner installed the RJF officers and new directors. Joining Cantor as officers are Chair-Elect Andrew Brownstein, Vice Chairs Stuart Siegel and Jeffrey Lacker; Secretary Miriam Davidow; Treasurer Beth Long, and Investment Committee Chair Adam Plotkin.

Other returning directors are Beryl Ball, Irving Blank, Ruth Greene, Gregory Itskovich, Rebecca Kalman-Winston, Evelyn Lampert, Roger Leibowitz, Gail Moskowitz, Walter Rabhan, Sam Revenson, Simon Sibelman, Charles Swartz and Robert Weisberger.

New directors include Susan Craven Johnson, Jeff Gumenick, Roberta Oster Sachs, Richard Samet, Michael Schewel and Jim Weinberg.

RJF congratulated and thanked Abby Moore, Morty Brown, and Rick Gary for completion of their board service: Brown for his guidance on the grants and distributions committees, Gary for his guidance on the investment committee and Moore for his dedicated leadership on the marketing and executive committees.

Happy Fannie Hutzler Day

Every May 5, over 1,000 people – the residents of Beth Sholom Home, Beth Sholom Woods and six other agencies for youth and the elderly – celebrate Fannie Hutzler’s birthday. It’s a day many look forward to year after year.

Mrs. Hutzler’s family has celebrated her birthday with the community ever since she passed away in 1891. For many years the Hutzler family handled the celebration themselves, but in 1933, Henry Hutzler decided to ensure that the tradition be carried on after his passing. He sought the help of what is now Richmond Jewish Foundation to establish the Fannie Hutzler Fund to do just that.

“I give and bequeath a sum to be held in Trust in memory of my mother, Fannie Hutzler, as a perpetual fund for ‘Fannie Hutzler Day’…the income from said Fund to be used for a ‘birthday party’ (cake, candy, ice cream, etc.) to be given on each 5th of May, the children or inmates of certain named institutions, all of Richmond, Virginia,” probated in 1933.

In addition to Beth Sholom Home and Beth Sholom Woods, birthday parties will take place at The Virginia Home, United Methodist Home, Virginia Home for Boys, Masonic Home of Virginia, St. Joseph’s Villa and Friends Association for Children.

Henry Hutzler would be pleased to know that his simple bequest has brought so much happiness to so many.

Happy birthday, Fannie!

2011 Annual Meeting

You are cordially invited to attend the Richmond Jewish Foundation Annual Meeting, Wednesday, May 18, 2011, in the Israel November Auditorium at the Carole & Marcus Weinstein Jewish Community Center.

Reception begins at 5:30pm – meeting at 6:00pm.

Dietary Laws observed.

Please click here to register for the meeting.

Stuart Siegel to be Honored With Meyers Award at May 18 Annual Meeting

Stuart Cantor, Chairman of Richmond Jewish Foundation, announced that at the Foundation’s annual meeting Wednesday, May 18, at 5:30 pm at the Weinstein JCC, the Anne and S. Sidney Meyers Endowment Achievement Award will be presented to Stuart Siegel.

S. Sidney Meyers, of blessed memory, and his wife Anne, created an award to be presented to community members who are outstanding contributors to the field of Jewish endowments, whether on a local, regional or national basis. The Meyers believed that the award would encourage others to become involved and benefit the community. The Anne and S. Sidney Meyers Endowment Achievement Award honors those who have promoted the growth of Richmond Jewish Foundation, given financially and exhibited the qualities of “leadership, vision, imagination and activity.”

This year’s honoree is Stuart Siegel. Stuart has been one of Richmond Jewish Foundation’s most ardent supporters. Stuart has been an active donor for over thirty years and created one of the Foundation’s earliest charitable remainder trusts over 20 years ago. RJF is honored that Stuart has accepted a new role on the board as a vice chairman for the 2011 – 2012 fiscal year.

Stuart has actively supported the creation of several endowments that support specific agencies and fields of interest. In 1982, after his brother-in-law Sherry Rose’s untimely death, Stuart and Judy Rose Becker made a challenge gift to the community to support missions to Israel. As a result, the community’s Special Israel Mission Fund was renamed the Sherry B. Rose Israel Mission Fund. Today this fund is responsible for ensuring that missions to Israel are affordable for those persons whose participation is vital to the Jewish Community Federation of Richmond’s General Welfare Campaign.

Stuart is as active today as he was over twenty years ago. Recently, he was instrumental in helping to establish Chabad of Virginia’s first endowment. Said Siegel, “Serving as both a member of the Foundation’s board of directors as well as a member and supporter of Chabad, I am excited to help secure Chabad’s future by building a lasting endowment.”

Stuart embodies the spirit of enduring legacies and community members who are outstanding contributors to the field of Jewish endowments.

For more than thirty years, Richmond Jewish Foundation has served as the planned giving and endowment arm of our Jewish community. The Foundation maintains a tradition of honoring donor choices.

The 2011 annual meeting will also feature a report by Stuart Cantor, Chairman of Richmond Jewish Foundation, Board of Directors installation, and a presentation of the Chairman’s Award.

Please click here for past Meyers Award winners.