Alperin family legacy lives on at Jewish Federation Foundation – and yours can too

More than six decades ago, community patriarch Max Alperin, along with others, saw the need to create a financial institution that would uphold Jewish values and be accessible to the entire community. With this in mind, they created the forerunner to what is now the Jewish Federation Foundation (JFF) to ensure that support for the Rhode Island Jewish community would continue in perpetuity.

Establishing a foundation allowed donors to invest in the Jewish community with confidence that the JFF through the  Jewish Alliance of Greater Rhode Island would use their money where it was most needed.

Alperin’s son, Mel, watched as his family became more and more engaged in the community, which had a great impact on him.

“It was a family involvement,” he said.  “My mother and father both were very active in the Jewish community and it was part of our lives as we grew up. My wife, siblings, and their spouses, are invested in many ways – some more than I am.”

Mel Alperin, who lives in Providence, recalled his first experience with fundraising: “I can remember walking to temple at the start of the Yom Kippur War. It was a very traumatic experience, but to see the community rally the next day … to see the leadership really take over and to witness with pride the contributions increase in the support of Israel was my first real experience with that kind of fundraising specifically for emergency purposes.”

Alperin said he was also greatly influenced by distinguished community leaders like Joseph Ress and Robert Riesman.

When asked why it’s important for people to be involved with the Alliance, Mel recalled something his father had said to him: “ ‘If you are part of a community, you have to take part in that community.’ “

He continued, “And that’s the way I have lived my life – and still do. It’s a thrill to see Jewish life continue with the support of the next generation.

“I saw as a volunteer at Federation how important endowment was for the future generations and how it would continue our charitable philosophy.  So I thought that this was a great opportunity to begin to establish an endowment fund.

“And as a practical matter, I think endowments are better financially than a private foundation … when you have an endowment, it’s less expensive and you’re not governed by the private foundation rules set by the IRS … it’s a fund that continues, if you wish, after you pass away. You can in fact specify what services you want it to fund, and can leave it to particular agencies to carry out your charitable wishes.”

Alperin’s involvement with the Jewish community will live on in perpetuity through his endowment funds. He has established restricted, unrestricted, and philanthropic funds (Donor Advised Funds), all to honor people, causes and organizations that he supports.

Restricted funds are devoted to a particular purpose. The Alperin family has created one to benefit Jewish Family Service and another for the Jewish Alliance Annual Campaign. The family also has two Donor Advised Funds, which will support the Annual Campaign in the future.

While the Alperin family has established a couple of restricted funds,  “because we had a particular passion,” Alperin says his preference is for unrestricted funds, which is money allocated by Alliance boards to support local and global priorities. 

However, he does believe that all endowment funds, whether restricted or unrestricted, are valuable.

“There is the satisfaction of giving and supporting the community that perhaps helped them or their parents in a particular manner. Certainly having participated in the community for many years, having a permanent gift is important to us.

“I’m very impressed by the fact that the Jewish Federation Foundation has almost $50 million in endowment from 630 funds, and is growing very nicely as this generation plans for the future, creating a lasting family legacy. This is why I think everybody should consider taking care of the future of our community to the extent that they are able.

“Speak to the people at the Jewish Federation Foundation and they’ll make sure your wishes are fulfilled long after you’re gone.”

Mel Alperin – community member, leader, philanthropist – has watched his family build something that will benefit the local Jewish community forever, and he urges others to create a Jewish legacy too. 

Setting up a fund

Trine Lustig, vice president of philanthropy at the Alliance, helps people consider their giving options and can be reached at tlustig@jewishallianceri.org or 401-421-4111, ext. 223.

The minimum amount to establish a permanent endowment fund with the Jewish Federation Foundation is $10,000, while the minimum dollar amount to establish a Donor Advised Fund is $2,500.

HILLARY SCHULMAN is a development associate at the Jewish Alliance of Greater Rhode Island. Contact her at 401-421-4111, ext. 127, or at hschulman@jewishallianceri.org.