A supporting foundation is an independent, nonprofit corporation with its own identity and corporate structure affiliated with the Jewish Federation. While it qualifies as a public charity with all attendant tax benefits, it has many of the advantages of a private foundation. Establishing a Supporting Foundation at the Jewish Federation requires a minimum donation of $2 million.
How a Supporting Foundation Works
You may appoint as many directors to the Foundation's Board of Directors as you choose, from your family, circle of friends or trusted colleagues. Jewish Federation also appoints directors, constituting a simple majority as required by law. The Board conducts the Foundation's business, including making investment decisions and charitable distributions.
- Continue in perpetuity, allowing family members to work together towards defined goals and philanthropic objectives.
- Provides more favorable tax benefits than private foundations.
- Not subject to excise taxes on investment income.
- Establishes a board of directors with your representation.
- No annual minimum distributions required.
- Support by Jewish Federation's professional staff may assist with drafting mission statements and researching charities, creating a philanthropic focus, evaluating proposals, as well as administrative, legal and financial responsibilities.
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