"I did not find the world desolate when I entered it.
And as my parents planted for me before I was born, so do I plant for those who will come after me." -Talmud
A supporting foundation is an independent, nonprofit corporation with its own identity and corporate structure affiliated with Jewish Community Foundation. Generally, establishment of a supporting foundation requires a minimum of $1 million in assets.
While it qualifies as a public charity with all attendant tax benefits, it has many of the advantages of a private foundation. Its own board of trustees, including yourself, a majority appointed by the federation and others appointed by you, governs your supporting foundation, determining investment strategies and policy matters.
Trustees meet at least annually to decide on grant making, focusing on your special interests. Because your supporting foundation is linked in perpetuity with Jewish Community Foundation, succeeding generations of your family will carry on your tradition of tzedakah.
Can continue in perpetuity, allowing family members to work together towards defined goals and philanthropic objectives.
For more information about how a supporting foundation can work for you, your family, and your community, contact Sharyn Gallatin, Financial Resource Development Director at 734-677-0100 or your personal financial advisor today.
This material is presented for informative purposes only and should not be construed as legal or tax advice.
Always consult your lawyer or tax advisor when you are considering gift planning strategies.