Donor Advised Funds Empower Charitable Giving
In a time unlike any other, the Jewish Community Foundation of Los Angeles (The Foundation) pivoted its significant grant-making ability towards COVID-19 relief.
It’s a central tenet of Judaism: Tikun Olam. Translating to “repairing the world,” the ancient Jewish concept has informed and directed huge philanthropic efforts by the Jewish community for generations.
The Foundation continues this charitable effort by calling on the citizens of Southern California to help heal a world greatly impacted by a global pandemic. As an individual donor, you can createa lasting impact on the relief effort and other issues that matter to you, all in the spirit of Tikun Olam.
The Foundation’s COVID-19 response began at the outset of the crisis and has continued through today. According to CEO Marvin Schotland, The Foundation has awarded $12 million in institutional grants to 100 nonprofits for pandemic relief. This amount is in addition to millions of dollars that generous Jewish Community Foundation donors have given through their charitable funds for this purpose.
“I’m enormously grateful for the good health and perseverance of those around me personally and professionally,” said Schotland. “For me, the silver lining of this pandemic is how family, friends, and colleagues — and our community and city— have banded together to confront this crisis.”
While the fabric of our daily lives has changed significantly, the spirit of giving in the community remains high and charitable giving is as easy as ever, thanks to Donor Advised Funds (DAFs), an increasingly popular method of giving. The Jewish Community Foundation recommends exploring Donor Advised Funds (DAFs), a simple way to create a lasting philanthropic impact on the community and the world, and one that can create a legacy for you and your family. Here’s how it works:
1. Begin by donating at least $5,000 in cash, assets, securities or other funds into your DAF, and receive an immediate tax deduction.
2. Recommend grants to your favorite charities, Jewish or otherwise. You may have something specific in mind; or The Foundation can recommend a direction for your grants through its robust Center for Designed Philanthropy.
3. Make tax-deductible donations to your DAF at any time.
4. Start building a legacy through a DAF. With familial involvement, you can create an impactful philanthropic legacy that your family members can actively participate in and have entrusted to them.
5. With the only cost beinga modest annual fee covering administration and portfolio management services, a DAF can be more cost effective than a private family foundation.
Experts at the Jewish Community Foundation are ready to help donors maximize the impact of their giving and fulfill their charitable passions. For example, donors can use their DAF to support elder care, education, medical research, homeless aid, or needs in Israel, among many others.
“The silver lining of this pandemic is how... our community hand city have banded together to confront this crisis.”
Donors can also maximize their giving to support COVID-19 relief here in the region or worldwide. The opportunities are limited only by one’s generosity and passion. No matter how much a person gives, they will perpetuate the spirit of Tikun Olam and leave a lasting impact on our world with their generosity.
The Jewish Community Foundation of Los Angeles—founded in 1954—has 1,300 donors, manages more than $1.4 billion in charitable assets, and distributed $116 million in grants in 2020 to causes locally, nationally, and around the world.