A supporting foundation is an independent, nonprofit corporation with its own identity and corporate structure affiliated with your Federation endowment/foundation. Generally, establishment of a supporting foundation requires a minimum of $1 million in assets.
While it qualifies as a public charity with all attendant tax benefits, it has many of the advantages of a private foundation. Its own board of trustees, including yourself, a majority appointed by the Federation and others appointed by you, governs your supporting foundation, determining investment strategies and policy matters.
Trustees meet at least annually to decide on grant making, focusing on your special interests. Because your supporting foundation is linked in perpetuity with your Jewish Federation, succeeding generations of your family will carry on your tradition of tzedakah.
What are the benefits to you?
How to Begin
For more information about how planned giving and legacy opportunities can work for you, your family, and your community call Michael S. Rassler at (805) 957-1115, or your personal financial advisor today.
Disclaimer: the Jewish Federation of Greater Santa Barbara Planned Giving and Endowment does not provide legal advice. Donors are encouraged to seek independent tax and legal counsel.