The Fund for Our Future: L’dor va dor
Adat Shalom Reconstructionist Congregation invites you to join the Fund for Our Future.
In May 2012, the Adat Shalom Board established an endowment fund, The Fund for Our Future, to provide long-term enrichment for our spiritual, intellectual, and communal life. Held separately from operating assets, the fund will be used to strengthen the synagogue in decades to come and, if truly necessary, to help sustain the congregation in times of financial hardship.
L’dor va dor. From generation to generation. This theme, central to our unique heritage as Jews, signals the transfer of beliefs, traditions, and memories within a family but expands to demand the same within a community and, indeed, for all Jews across centuries, cultures, and countries. And so we ask all members of our Adat Shalom community to share in the task of caring for our future generations. We ask you to assure that those who follow will have the means to strive and thrive.
The Fund for our Future welcomes both planned and current gifts. There is no minimum gift and all planned or legacy gifts will contribute to the Fund unless otherwise directed by the donor.
Planned gifts may be made in many forms including but not limited to those in the following list. The Endowment Committee will consider donations of other types of property such as real estate and art on a case-by-case basis.
- Bequests - Adat Shalom welcomes bequests of cash or marketable securities.
- Beneficiary Designations – Name Adat Shalom as a primary or contingent designated beneficiary of your retirement plan account or life insurance policy.
- Charitable Remainder Trusts – These trusts pays an annuity or percentage amount to one or more persons for life or a term of years and then give the balance to a charitable organization.
- Charitable Lead Trusts – These trusts pay an annuity or percentage amount to a charitable organization for a period of years or for someone’s lifetime. At the end of the trust period, the assets of the trust pass to a family member.
- Charitable Annuities – Adat Shalom does not offer charitable annuities at this time, although it hopes to in the future.
You can indicate your intent to make a planned gift to the Fund by completing a Declaration of Intent (DOI) and submitting it to the Adat Shalom office. You do not need to specify the nature, timing, or size of the planned gift when completing the DOI.
Current gifts designated for the Fund for Our Future are welcome at any time and in any amount, and pledges will be accepted for a period of up to five years. They may come from family foundations, an inheritance, or your desire to contribute now. Current gifts may include:
- Cash and/or Marketable Securities
- Non-marketable Securities and Real Estate - Approval for gifts of non-marketable securities and real estate must be obtained in advance.
- Insurance Policies - Contributions of fully paid up insurance policies are welcome; policies with premiums remaining require prior approval.
- Tangible Property - Adat Shalom can accept donations of tangible property such as cars, boats, works of art, etc. by prior arrangement.
Gifts of the following kinds are welcome but must have prior approval:
- Non-marketable securities
- Real estate
- Insurance policies with premiums remaining
- Tangible property
Please consult your attorney about including Adat Shalom Reconstruction Congregation in your estate plan and your tax advisor about the tax advantages of planned or current gifts.
Restricted and Unrestricted Gifts
Restricted Gifts – Donors of $50,000 or more may name their fund and designate a purpose consistent with Adat Shalom’s mission. The Endowment Committee recommends discussing the purpose of a restricted fund with the Committee prior to forming one.
Unrestricted Gifts – Contributions of any size are welcome. Donors of $25,000 or more may name a fund. Unless restricted, all planned and current donations will be held in the general endowment fund.
Additions of any size are welcome to existing endowment funds, whether restricted or unrestricted.
A Board-appointed Endowment Committee of five Adat Shalom members serving rotating three-year terms will manage the Fund for Our Future. It will meet at least once per quarter and will establish operating policies and procedures consistent with Maryland law and the short- and long-term goals of the congregation. These will be subject to Board approval.
The Endowment Committee will oversee the investment of the Fund and within constraints established by donors, if any, will determine the size and purpose of distributions. It will report annually to the Board and congregation about fund balances, contributions, and disbursements. The annual report of the Fund for Our Future will recognize all donations received during that year, as well as all legacy pledges made to Adat Shalom.
The Endowment Committee will select and oversee an investment manager for the Fund and will specify a generally conservative investment policy with low risk to the underlying corpus. In any given year a stated portion of the annual valuation, generally five per cent, may be distributed for programs to enhance the Adat Shalom community. It is anticipated that ultimately there will be two endowment accounts - one for general endowment contributions and one for larger, restricted contributions.
At the beginning it is expected that the benefits to the congregation from the Fund for Our Future will allow for a limited amount of new programming, although substantial initial donations could change that. It takes time to build an endowment, especially for a young organization. Solicitations for the Fund will not compete with annual giving and other fund-raising efforts that support the operating budget. Just as they are separate financial entities, operating and endowment fund-raising are substantively distinct.