3.29.13 Issue

by Mary Bort, Jewish Federation of Omaha Foundation

Each year, the Jewish Federation of Omaha asks the community to support its Annual Campaign. Dollars raised fund the Federation and those organizations which it supports locally and in Israel.

Carl Riekes, Jewish Federation of Omaha Foundation PACE/LOJE Committee Chair, stated, “Most of our major donors have been giving for decades. Their cumulative investment, in many cases, has been in the hundreds of thousands of dollars. By establishing a PACE/LOJE fund, our donors will insure the viability of that investment for future generations. Ann Goldstein is a case in point.”

The late Ann Goldstein and her family made arrangements for her to support future Annual Campaigns through a LOJE fund. According to Don Goldstein, “Ann was a big advocate of the Jewish community and of Omaha. Her decision to set up a LOJE fund gave her the opportunity to support both in perpetuity.”

“By establishing a LOJE fund, Ann’s lifetime of good will and good deeds will never be forgotten,” noted Riekes.

Even with the consistent generosity of Omaha’s Jewish community, the Federation faces a challenge.

“Sadly, in the last ten years about twenty-five of our major, long-time donors have passed away. Their Annual Campaign gifts totaled more than $500,000,” explained Howard Epstein, Foundation Executive Director. “When a donor dies without an endowment, that gift is lost to us forever. It is important for donors to endow their Annual Campaign commitments.”

There is a way to plan today in order to build for tomorrow. Donors who establish Perpetual Annual Campaign Endowment (PACE) and Lion of Judah Endowment (LOJE) funds with the Foundation insure their legacy into perpetuity.

There are a number of options to leave a lasting legacy through a PACE or LOJE Fund. “One approach is to make a bequest in your will,” said Epstein. “You simply specify an amount in your will to endow your gift to the Annual Campaign.”

“Some donors establish a PACE or LOJE fund through a life insurance policy,” stated Riekes. “Life insurance gifts are particularly appealing to younger individuals. When the Foundation is the owner and beneficiary of the policy, your premium payments are tax deductible. You may even be able to contribute an older policy to the Foundation and realize a tax benefit.”

According to Riekes, “Another way to create a PACE or LOJE fund is to name the Foundation as the beneficiary of your IRA or retirement plan. Often subject to high estate and income taxes, an IRA or retirement plan may result in fewer dollars for your heirs. The more you can save on your tax bill, the more your heirs will inherit from you. Use these assets first to endow your Annual Campaign gift.”

Donors can establish a Charitable Income Plan. A Charitable Remainder Trust or Charitable Gift Annuity will provide you or your loved one needed income during your lifetime. Thereafter, the remainder of the trust or annuity can be designated to establish your PACE or LOJE fund. Important tax benefits and possible increased income opportunities are available with this approach.

“In order to take advantage of immediate tax benefits and to create your PACE or LOJE fund during your lifetime, you can give cash, stock or other property,” said Riekes. “The Foundation will work with you to identify the most tax efficient way to establish your legacy right away.

“We are grateful to Omaha’s Jewish community for their ongoing commitment and generosity,” noted Epstein. “Let’s make sure our Jewish community continues to enjoy all the wonderful services and activities provided through the Jewish Federation of Omaha in the future.”

“On behalf of the Jewish Federation of Omaha Foundation and Omaha’s Jewish community, we want to extend a special thank you to the individuals who have already endowed their Annual Campaign commitment by establishing a PACE or LOJE fund,” said Epstein.

Please consider endowing your Annual Campaign pledge. We can work with you to arrange for a significant future contribution that is easy to financially support. Start planning your legacy now. Please contact Howard Epstein at 402.590.2156 or hepstein@jewishomaha.org to schedule a meeting to discuss all the options available to establish a PACE or LOJE fund.

PACE and LOJE Fund donors

Joel Alperson

Norman* and Frances * Batt

Steven and Carol Bloch

Leo* and Aileen* Eisenstatt

Robert and Barbara Epstein

Gary and Lisa Epstein

Paul and Sandy Epstein

Michael Erman

Roz Friedman* and Susan Friedman Cohn

Thama Lee Friedman*

Ned* and Pearl Giventer

Ann Goldstein*

Jan Goldstein

Leonard* and Shirley Goldstein

Forrest Krutter

Edward and Sally Malashock

Allan and Janie Murow

Stuart and Bettie Muskin

E. Robert and Phyllis Newman

Murray and Sharee Newman

Jay and Kim Noddle

Nancy Noddle

Steven and Patty Nogg

Martin Ricks

Carl and Zoë Riekes

Henry* and Dorothy* Riekes

Andrew Robinson

Lorraine Silverman*

Special Donor-Advised Fund

Maurice* and Joan Udes

Norman and Joodi Veitzer

*deceased – this donor’s PACE or LOJE fund currently provides income each year to the Jewish Federation of Omaha’s Annual Campaign.