Passover’s just around the corner – establish a tradition of family giving with a DAF Fund

The snow’s melting and the sunshine seems here to stay – two signs that the long-awaited spring has finally arrived. And with Passover in just a few days, it is a special time for family and friends to welcome a new beginning. One valuable way to step into spring together is by making memories with loved ones today that create a legacy for tomorrow.

Establishing a Donor Advised Fund (DAF) with the Jewish Federation Foundation of Greater Rhode Island is a meaningful way to celebrate this time of year and to build a tradition of family philanthropy. It speaks to the meaning of Passover because donor advised funds secure and sustain our Jewish future.  “A donor advised fund is an easy way to grant the organizations you support and believe in most with gifts throughout the year. Contributing to the Jewish Federation Foundation in this manner not only helps the Jewish community today and tomorrow, but allows you to leave your legacy and illustrate for your children and grandchildren how important giving is at all ages and stages,” said Jay Rosenstein, chair of the Jewish Federation Foundation. The Foundation was established in 1945 as the endowment fund of the Jewish Alliance of Greater Rhode Island.

A DAF is a charitable giving fund created with an irrevocable gift of cash or other assets in the amount of $2,500 or more, with the option to add to the fund at any time. Some people refer to it as a “philanthropic checkbook.” The fund is invested through the Jewish Alliance’s endowment, where it grows over time. The donor recommends grants to his or her favorite Jewish and secular nonprofit organizations or Jewish Alliance Annual Campaign. It can even be used to fulfill synagogue dues.

Creating a DAF centralizes an individual’s charitable dollars in one convenient account. A user-friendly fund, it provides maximum tax advantages and flexibility in grant making. It is also an opportunity to involve the next generation in grant making. Whether a person is looking to minimize taxes, create a charitable family legacy or honor a loved one’s memory, a DAF may be the right fit.

So much of Passover centers around the special family meal, or Seder, filled with rituals to remind us of the significance of the holiday. May it also serve to mark a family milestone, and spark action toward protecting our Jewish future through the creation of a DAF with the Jewish Federation Foundation.

For more information on ways to establish a DAF with the Jewish Federation Foundation, please contact Trine Lustig, vice president of Philanthropy at the Jewish Alliance at tlustig@jewishallienceri.org or 401-421-4111, ext. 223.

JENNIFER ZWIRN is in Grants and Philanthropy at the Jewish Alliance.