Guided by the principles of tzedakah (charity) and tikkun olam (repairing the world), Tidewater Jewish Foundation is dedicated to creating permanent resources for the Jewish community. The many facets of community involvement in which TJF is engaged have caused some misconceptions about what the organization does and how it can serve individuals and the greater community.
Here’s a look at some of these myths.
Myth 1: TJF is just a typical charity.
Reality: While TJF is a 501(c)(3) organization, its mission extends far beyond a traditional charity’s. TJF is dedicated to growing philanthropy and serving the entire community by creating permanent resources for both Jewish and non-Jewish organizations. Established in 1984 and governed by an independent, community- based board of directors, TJF administers more than 700 funds valued at more than $140 million. The foundation offers flexible tools to meet almost any charitable giving need, providing expert guidance and support for individual philanthropic goals.
Myth 2: People don’t want to talk about philanthropy.
Reality: Many individuals, couples, and families are eager to discuss their philanthropic intentions, and TJF helps make those conversations easier and more meaningful. By offering icebreaker questions and talking points, TJF ensures that charitable planning becomes integral to financial discussions. TJF’s team supports individuals by enhancing their charitable vision and ensuring that giving intentions are realized for current plans and future generations.
Myth 3: Philanthropy is just a side note in financial planning.
Reality: Charitable giving is a key driver of income projections, tax strategy, and estate planning. TJF’s knowledgeable team is ready to assist donors from the moment philanthropy is considered. Integrating charitable planning tools early in the process is crucial for securing tax benefits and achieving financial and philanthropic goals. TJF’s expertise covers the entire charitable giving landscape, ensuring the best possible advice and support.
Myth 4: Working with TJF will complicate a financial plan with a financial advisor/CPA.
Reality: Working with a financial advisor or CPA in partnership with TFJ can simplify and enhance financial plans. TJF understands the importance of addressing philanthropic intentions and can help build comprehensive charitable giving strategies. By collaborating with TJF, one’s philanthropic impact is strengthened and clarity and efficiency in financial planning is maintained. TJF helps streamline record-keeping and reporting for charitable transactions, making the process easier and more accurate…at no additional charge.
Myth 5: One needs to be an expert in charitable tax law to benefit from TJF.
Reality: TJF’s comprehensive charitable giving services mean it’s not necessary to be an expert in charitable tax law. With significant tax benefits due to its public-charity status, TJF makes it easy to establish various funds, including donor-advised, endowment, scholarship, and more. Donations may be made to virtually any asset, from marketable securities to real estate, simplifying the process and maximizing philanthropic impact.
Tidewater Jewish Foundation is ready to serve as a partner in charitable planning.
For more information, contact Naomi Limor Sedek, TJF president and CEO, at nsedek@tjfva.org or 757-965-6109 or visit www.foundation.jewishva.org.