Please join Richmond Jewish Foundation for an upcoming seminar at our office designed to inform Baby Boomers about how to maximize their social security benefits. There are two sessions to choose from: 9:30 AM and 3:00 PM. Each session will last about 90 minutes. Please click here to register.

Savvy Social Security Planning: What Baby Boomers Need to Know to Maximize Retirement Income Benefits

Description: There is more to Social Security than meets the eye. At this workshop you will learn the following and much more:

· 5 factors to consider for deciding when to start taking benefits
· Innovative strategies for coordinating benefits with your spouse
· How to coordinate benefits with other sources of income
· Special rules on benefits for divorced spouses

Presenter Info: David Gentry is a CPA and the President of the Central Virginia Chapter of SoFA (Society for Financial Awareness), a non-profit educational speakers’ bureau with a mission to empower people to make informed decisions related to their finances. He also runs the Richmond, VA office of American Prosperity Group, retirement and estate planning specialists insuring clients’ successful retirement.

Have you ever wondered how investment portfolios for endowments are created? Several dozen community members recently attended a breakfast presentation by Glenmede, Richmond Jewish Foundation’s investment manager to learn the answer.  Glenmede’s presentation titled, “Investing Through Richmond Jewish Foundation to Strengthen Our Community Today and for Generations to Come” focused on the evolution of endowment investing and how Glenmede creates the RJF portfolios based on their investment process and philosophy.

Adam Plotkin, RJF Investment Committee chair, welcomed the attendees by stating, “Year in and year out we raise millions of dollars to support our community in Richmond and around the world, but there is also a need in our community for permanent and reliable sources of funding for our valued institutions and programs. This is for our long-term survival, especially after experiencing the effects of economic downturns and recessions.” Plotkin added, “Through the Create a Jewish Legacy initiative over 100 individuals and families have promised over 200 new legacy gifts for approximately $17 million dollars.

Nina Cohen, Glenmede director of philanthropic advisory services and Adam Conish, director of Glenmede’s endowments and foundations group, focused the presentation on how historically endowments invested in a mix of stocks and bonds to generate interest and dividend income. To help reduce risk and create growth in the funds over time the modern endowment allocation now includes additional asset classes and alternative investments.

Attendee Andrew Pegalis said, “This morning’s event demonstrated how well run RJF is and why they selected Glenmeade to manage their accounts.  Endowment Fund management is not what it was just a few years ago.”

RJF selected Glenmede as its investment manager last summer.  Glenmede is an independent investment and wealth management firm founded in 1956 by the Pew family to manage the assets of their charitable interests. Today, it provides investment and wealth management services to endowments and foundations, individuals, and family offices.

Through Glenmede, Richmond Jewish Foundation offers several fund options. The Long-Term Fund is used for true endowments where growth over a long time horizon is needed. The Short-Term Fund has a shorter time horizon and is typically used for donor advised funds. The Invest Israel Fund is a new offering from RJF designed for long term growth focusing on the Israeli stock market and government bonds.

“Technology companies and global investors are beating a path to

With the continued growth and success of the Israeli economy and the Tel Aviv Stock Exchange, Richmond Jewish Foundation (RJF) made its first  investment in the newly created I² (Invest Israel) Fund. “The Invest Israel option offers RJF a way to show our pride in the State of Israel by participating in the dynamic growth of the Israeli economy,” said RJF Chairman, Stuart Cantor. Cantor added that, “New and existing donors can now recommend that up to 5% of their funds be invested in the Invest Israel portfolio with a minimum investment of $1800. This includes donor advised funds, agency funds, special purpose and field of interest funds.”

According to Adam Ploktin, RJF Investment Chairman, “Our board and investment committee feel very strongly about our Jewish heritage and connection to Eretz Yisrael, and we have for some time been discussing the optimal way to ensure that like-minded charitable individuals, families and other foundations might have an opportunity to express those beliefs with their charitable dollars. In conjunction with Glenmede, the RJF investment committee and executive committee worked to structure a prudent investment option for both the RJF Genesis Fund and other investors who appreciate the opportunity and the longer term risks and potential.  We now have such an investment – a balanced approach withIsraelonly investments in stocks, bonds and private equity as well.  I’m very proud of the process we have undertaken, but am especially proud that RJF is leading the way for anyone so inclined.”

Israelis one of the most successful countries in theMiddle Eastand the world. In just a few decades,Israelhas transformed itself from an agriculture based economy to a hi-tech powerhouse with leadership positions in software engineering, computer component manufacturing, pharmaceuticals and medical technologies. This vibrant economy offers many excellent opportunities for investors. Widely praised as a “start-up nation”,Israelhas the highest number of companies listed on the NASDAQ afterCanadaand theUSand the highest level of venture capital as a share of GDP.

With the Tel Aviv Stock Exchange (TASE) recently setting record high levels and natural gas discoveries off Israel’s shores capturing investor interest around the world, Israel’s economy is well suited to continue its upward. Additionally, Israel was recently reclassified as a developed market from an emerging market which opens up Israel to a broader range of potential new investors and flows of capital.

Second, having a will means that you sought to conserve your estate. You can reduce taxes and probate costs by designating what things will go where and who will be responsible for handling the details. The cost savings resulting from a carefully constructed estate plan means that more of your estate can go to family members and the charities of your choice.

Third, your will provides insight into your lifetime involvements and concerns. Bequests to family members tell of your love and concern for their welfare. And bequests to organizations speak volumes about your values.

For example, when you include Richmond Jewish Foundation in your will, you reveal that caring for others is worthwhile and you affirm your belief in the mission of RJF which is to serve as the endowment and planned giving branch of our community.

Finally, when you include RJF in your will, you tell us at RJF that you want us to continue to fulfill the mission of RJF in this world through your instructions by creating a fund that carries out your philanthropic intent. You reveal your vision for our future! You encourage us to be good stewards of the new resources you place in our hands.

Your will says other things as well about your interests and values and commitments. And because it says so much, you are wise to think it through carefully.

If having a will says so many good things about you, what does the absence of a will reveal?

We at RJF want you to experience the good feelings of having a well-considered and well-crafted will (or other comprehensive estate planning document). We encourage you to take care of this very important matter. And to help you, we offer a secure online interactive “wills guide” which can be accessed at here.

We are also available if you want to talk with us about finding an advisor or about how to leave a bequest to RJF to support the causes you care most about.

2012 Study in Israel Application

2012 Summer Camp Scholarship Application

Donor Advised Funds  
By donating appreciated assets to RJF you can avoid paying capital gains tax and secure a tax deduction.  It’s especially well suited for donors who have yet to decide what charities they want to benefit.  Once the appreciated assets are given to RJF and placed in your donor advised fund account, you can take as much time as you need to decide where to direct their gift. You can start your fund with cash or appreciated stock and take three years to fund to the $5,000 minimum level. Donor advised funds are great vehicles to plan your philanthropy including gifts for your temple, the Federation and any other qualified non-profit that you support.

IRA Rollover
Have you been looking for a way to make a major gift to create your legacy without dipping into your checking or savings account?  If you are over 70 ½, you can transfer up to $100,000 from your IRA to a Richmond Jewish Foundation endowment before the end of December 2011 without paying any federal income tax.  And this gift may be made over and above the other charitable gifts you already make. Your gift can be made simply by notifying your IRA plan custodian of your intent to make a current transfer to us or another charitable organization.

Bequests
If you are not ready to donate your stock or real estate today, you can still enjoy your property during your lifetime while making a gift to us through your will or trust. A bequest of your property will provide your estate with an estate tax charitable deduction, which means the money saved can go to your loved ones. A simple sentence or two in your will can ensure that your family is cared for while also supporting the charities of your choice after your lifetime.

For more information on how to create your legacy using an IRA rollover gift in 2011 or a bequest or how to create your own donor advised fund, please contact us.

Please click here for more information about the RJF Genesis Fund.