Have your cake and eat it too: A dual approach to charitable giving

by | Dec 7, 2023 | Other News

Naomi Limor Sedek
At Tidewater Jewish Foundation, a number of fund holders and donors enthusiastically embrace strategies for lifetime gifts and bequests. These champions of the “do it now” approach to charitable giving and their longstanding commitment to estate giving have been a part of the culture of philanthropy in Tidewater for decades.

How can an individual act now to ensure experiencing the joy of seeing the difference they’re making firsthand and knowing that they’re leaving a legacy to further the community priorities they’ve supported their entire life? A donor-advised fund with a bequest provision, established at TJF, is an excellent solution for many donors.

A donor-advised fund is easy to start and use. Donor-advised funds are popular tools to help organize giving and support favorite causes. TJF has extensive knowledge about the community’s needs and the organizations that are addressing critical issues, which makes a donor-advised fund a useful vehicle. Donor-advised funds’ tax benefits allow for eligibility for a tax deduction in the year of the gift. TJF can help donors use the funds to support their favorite 501(c)(3) organizations over the long term.

With TJF, donors can include provisions in the donor-advised fund document to name children or other family members as successor advisors to make recommendations; and specific organizations or causes to receive a portion of the grants each year can also be provided. In this way, a donor-advised fund is a convenient giving vehicle during one’s lifetime and is flexible enough to accommodate a donor’s wishes for leaving a legacy.

Bequests to TJF help serve the community for generations to come and respond to the most critical needs at any given time – needs that are impossible to predict. With TJF’s help, donors can give publicly or anonymously, fulfilling giving instincts as a secure, knowledgeable, and trustworthy facilitator.

For current fund holders at TJF, the staff is ready to assist in including bequest provisions in existing donor-advised fund documents. For those who are not yet fund holders, TJF is ready to help new donors achieve goals of lifetime giving and leaving a legacy.

Naomi Limor Sedek is president and CEO of Tidewater Jewish Foundation. She may be reached at 757-965-6109 or nsedek@tjfva.org.