Legacy Giving: Planting the Seeds for a Strong Future | Shalom Austin

Legacy Giving: Planting the Seeds for a Strong Future

Community News, Jewish Foundation, The Jewish Outlook

Jun 22, 2021

By Lisa Apfelberg, Sandy Dochen, and Amy Hyman 

As the country and the Austin community enter a post-pandemic world, with vaccinations and personal resilience, Shalom Austin has emerged as a stronger organization. Shalom Austin Jewish Foundation is key to building up this resilience – particularly with legacy funds. A legacy is something to leave behind – a body of work, reputation or something monetary.  In the foundation world, a legacy fund is a vehicle to dedicate current or future dollars to a good cause or a particular priority.

Multiple donors in the Austin Jewish community have created legacy funds to maintain their philanthropic support even after they “depart this earth,” including gifts designated to Shalom Austin, other local Jewish institutions and congregations and broader causes within Greater Austin and beyond.  For the individual or family, it’s a way to support causes or organizations well into the future. Endowment income from legacy funds can soften the blow of future economic downturns and support expanded programs and services.

A Shalom Austin Jewish Foundation legacy fund can be created in several ways with existing or future funds, or a combination of both:

Bequest

Several families have committed funds to a legacy account at the Jewish Foundation through their wills and estate planning. It’s a simple way to leave an asset of a particular value or percentage to an organization or cause.  Abby Rapoport, Shalom Austin immediate past board chair, and her family created a bequest to, as Rapoport states, “express continued commitment to the value that services and programs bring to our community long after we are gone.”

Carol and Sandy Dochen have created a legacy fund in their wills for both Shalom Austin and Temple Beth Shalom.  It’s a simple bit of financial planning for the long-term benefit of the Austin Jewish community. “Doing this planning now makes us feel good knowing that our community will benefit for years to come.”

Life Insurance

Kim Schocket recently purchased a life insurance policy, and Adam Loewy has tailored an existing policy that both make Shalom Austin the beneficiary. Schocket purchased a generous policy, the face value of which will build up through her tax-deductible premiums over the next few years. “I’m excited about making a relatively modest outlay to create a significant legacy gift,” Schocket explains.

Retirement Account

Retirees can make tax deductible donations of their IRA or 401K annual distributions to create an endowment. Sandra Freed has done just that. She used a portion of her retirement fund to open her Forever Lion Fund, a way to “support the Shalom Austin Annual Campaign in both good times and challenging times.” Donors can also make a beneficiary designation of a certain dollar amount or percentage as a gift after their lifetime. 

Donor Advised Funds

All donor advised funds must have a succession plan. A DAF holder can direct any remaining balances, upon one’s demise, to be dedicated to an endowment fund in their name or an already existing endowment fund. 

Appreciated Assets

Anyone can dedicate the sale of an appreciated asset – a block of stock, real estate or other object – to the foundation as a tax-deductible way to put those funds to work for the community.

These examples underscore how the power of planning our financial and philanthropic futures promotes the Jewish community’s stability and growth. 

And, just recently, Shalom Austin Jewish Family Service was the beneficiary of an unexpected legacy gift. A late member of our Jewish community, familiar with the impact of Jewish Family Service, left most of his assets to JFS, totaling several hundred thousand dollars. This individual was not a regular donor but found a way to support what he believed in after his assets became more liquid. “Jewish Family Service is so fortunate to be the beneficiary of such incredible generosity,” said Ian Spechler, chair of the JFS Committee.  “This beautiful gift by a very thoughtful person underscores how the community will grow and how future JFS clients will benefit for decades to come,” he added. 

For more information, contact Shalom Austin Senior Development Director Amy Hyman at amy.hyman@shalomaustin.org. ■

Sample Bequest Language for Estate Planning 

Bequest of a Specific Dollar Amount to a Jewish Foundation Fund 

I hereby give, devise and bequeath the sum of_________ and No/100 dollars ($_______) to the ______________ Fund, a component of the Shalom Austin Jewish Foundation, % Shalom Austin in Austin, Texas, Federal Tax ID 74-1469465, to be used exclusively for purposes established by the Endowment.

Bequest of a % of Estate or Residuary Estate to a Jewish Foundation Fund 

I hereby give, devise and bequeath choose either [X% of my estate residuary estate] OR [the rest, residue and remainder of my estate] to the ______________  Fund, a component of the Shalom Austin Jewish Foundation, % Shalom Austin in Austin, Texas, Federal Tax ID 74-1469465, to be used exclusively for purposes established by the Endowment.

For more information, visit shalomaustin.org/foundation.

Shalom Austin Legacy Society Donors

These donors have made gifts of permanence to benefit Shalom Austin and other organizations in Central Texas and beyond.

Lisa Chronister and Elliot Johnson**
Carol and Sandy Dochen* & **
Jennifer Failla Hoffman*
Sandra Freed*
Laurie and Ross Garber* & **
Jennifer Greenblum*
Fran and Dan Hamermesh
Karen Kahan*
Christine & Lance Kutnick
Laraine & Leon Lasdon
Shira and Robert Ledman
Adam Loewy**
Phil Loewy*
Beth McDaniel*
Val Newberg*
Abby Rapoport*
Marianne Rochelle*
Kim Schocket*
Nancy Shapiro*
Toby Shor*
Lecia Sud*
Judy Waxman z”l *
Joe Woskow**
Susan Zane Epstein*

*Forever Lion ($125K minimum Annual Campaign endowment)
**$125K minimum Annual Campaign or designated Shalom Austin endowment 

Shalom Austin Endowment Funds
Generations Facility Fund

Hymie & Louise Samuelson ECP Fund
Hymie & Louise Samuelson Young
Leadership Award Fund
Jay Rubin Israel Experience Fund
JCAA Sandy Gottesman Fund
Jewish Community Innovation Fund
Jewish Family Service Endowment Fund
Shalom Austin Endowment Fund
Shalom Austin Garber Family Endowment
Fund for Children’s Performing & Fine Arts Programs and Austin Jewish Academy
The Austin Community Mikveh Fund

Community Partner Funds

AUSTIN JEWISH ACADEMY
Austin Jewish Academy Endowment Fund

CONGREGATION AGUDAS ACHIM
Congregation Agudas Achim General Endowment Fund
L’Dor V’Dor Endowment Fund

CONGREGATION BETH ISRAEL
CBI Operating Endowment Fund
CBI Permanent Endowment Fund
Rose Dornbusch Youth Experience Scholarship Fund
Michael “Mickey” Deutsch Beautification Fund
Faye Gellman Youth Education Fund
Earl Podolnick Eternal Light Fund
Alan Lawrence Schechter Continuing Education Endowment Fund

HEBREW FREE LOAN OF AUSTIN
Hebrew Free Loan of Austin Endowment Fund

SIGMA DELTA TAU
Sigma Delta Tau, Tau Chapter Fund

Donor Advised Funds

Anne Alexander & David Kessler Family Fund
Arthur and Barbara Altman Philanthropic Fund
Lisa Apfelberg and Eric Greisdorf Family Fund
Baker/Rapoport Fund
Brittman Family Fund
Leslie S. Brittman Literary Fund
Jill Bowser and Sylvia Chao Fund
Alan and Holly Cohen Family Fund
Beth & Erik Cohen Family Fund
CMC Foundation Fund (Liz & Michael Solka)
Dochen Family Fund
Einhorn Lieberman DF Fun Fund
Finkelman Family Fund
David and Pamela Frager Family Fund
Sandra and Buddy Freed Family Fund
Freedman Family Fund
Edward & Cindy Fudman Family Fund
Failla Hoffman Family Fund
Friedel Family Fund
Goldblatt Fund
Candy & David Goldstein Family Fund
Goodman Family Fund
Joel Granoff Family Fund
Valerie Granoff Family Fund
Don Grefe & Janice Pierce Charitable Fund
Gremont Family Foundation Fund
Happy Life Fund (Marci Dell)
Lauren and Seth Halpern Fund
Angie and Brad Harrison Family Fund
Amy Hyman & Gerry Reyelts Family Fund
Andrea and Walter Kalmans Family Fund
Dealey/Kentor Family Fund
Lynn and Lenny Krasnow Family Fund
Rochelle & Dan Kraus Family Fund
Fabianna and Ron Laby Fund
Ladd Family Charitable Fund
Lain Family Fund
Leone Lain Philanthropic Fund
Leon & Laraine Lasdon Family Fund
Sigrid Levi-Baum and Michael Baum Family Fund
Jessica & Joel Levine Family Fund
Cynthia and Sanford Levinson Fund
Lori and Joshua Levy Family Fund
Melanie Carol Lewis Fund
Phil and Adam Loewy Fund
LSKT Fund
Marcus-Hill Family Fund
Arlene & Lawrence Maze Family Fund
Jill & Paul May Family Fund
Frances and Adam Meltzer Family Fund
Steven and Lauren Meyers Family Fund
Meyou Fund (Carole & Kerry Price)
F.A. & Maury Midlo Fund
Miller Family Fund
MMR Fund
Wade & Sally Monroe Family Fund
MOSHANA Family Fund
Lindsay and Jordan Neuren Family Fund
Marcia Nieder and Ira Leichtman Family Fund
Jeff and Val Newberg Family Fund
Keri Pearlson Charitable Fund
Charles & Diane Radin Fund
Rachel & Alexander Robinson Family Fund
Marianne and Martin Rochelle Fund
Elyse and Rick Rosenberg Family Fund
Salmanson Family Fund
Schocket Family Fund
Karen Siegel & Ted Toth Family Fund
Marcia and Barry Silverberg Fund
Smullen Family Fund
Solka Family Fund
Joe & Fai Lee Steinberg
Susswein Family Fund
Mark and Sharyn Vane Family Fund
Liz and Todd Waldman Family Fund
Stuart and Elisabeth Wallock Fund
The Terry and Steve Fund
Torah U-Mada Fund
Webberman Family Fund
Winer Charitable Fund
Susan E. Zane Family Fund
Keith and Linda Zimmerman Philanthropic Fund
Zimmerman/Scott Family Fund
Anonymous (2)

As of 6/10/2021

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