Introducing the New $5k Donor-advised fund!
We're excited to announce that the Minnesota Jewish Community Foundation is introducing a new minimum opening gift level for donor-advised funds. If you are 45 or younger or work at a Jewish organization, you are eligible to open a donor-advised fund with an opening gift minimum of $5,000 (normally $10,000).
What is a donor-advised fund?
A donor-advised fund (DAF) is a tax-effcient, personal charitable investment account that simplifies your giving. Having a DAF at the Minnesota Jewish Community Foundation (MN JCF) makes your giving easy—we do the work for you by taking care of the accounting, investment, and legal services, so you can focus on giving.
Our DAF works like an investment account dedicated to your giving. MN JCF’s charitable giving funds give you the opportunity to recommend grants to IRS-qualified charities—Jewish or secular, local or global—on your own timeline, not driven by the tax year, and as frequently as you wish.
A MN JCF DAF comes with convenient grant-making and centralized record-keeping online, as well as access to donor education and philanthropic advising to maximize your impact. MN JCF is a 501(c)(3) tax-exempt public charity—so when you contribute to MN JCF, you are entitled to receive the maximum charitable tax deduction allowed by law.
How does it work? Watch our 3-minute video to see how a MN JCF donor-advised fund can streamline your giving.
Ten benefits that come with a MN JCF donor-advised fund at no extra cost:
1. Simplify your giving through a DAF. Make online grant recommendations and see your giving history and statements in one place, our online granting website.
2. Personal service by people who know you. You receive the highest level of personal and timely customer service by people who know you; you know your advisor and your advisor knows you, what you value, and your philanthropic goals.
3. Reduce your tax liability. When you contribute cash, appreciated stock, or other assets to a donor-advised fund at a public charity, you are generally eligible to take an immediate tax deduction.
4. Access to our suite of philanthropic services. When you have a fund at MN JCF, we provide an entire suite of philanthropic services to support your giving, including family philanthropy, matchmaking you with community needs and organizations, based on your unique charitable interests.
5. Turn assets into donations. We accept a variety of assets, such as appreciated stock, cash, and real estate, and we can turn complex assets into money you donate to causes close to your heart
6. Unique Investments. Leverage our pooled investments to access investment products you may not be able to access if you have a retail brokerage or advisory account.
7. Share and teach your family values to the next generations. Pass along family values around giving by appointing children or grandchildren to make grants on the donors’ behalves during their lifetimes, or as successor advisors, enabling the donor’s future generations to carry on the tradition of tzedakah and continuing family’s giving legacy.
8. The Double-Triple-Quadruple Mitzvah. 100% of your DAF activities are charitable (Mitzvah #1). The administrative fee is like a donation that goes to another Jewish non-profit; it supports a local Jewish organization and stays within the community, allowing you to maximize every dollar in your DAF (Mitzvah #2). Whenever grants are sent from your fund at MN JCF, they have the word “Jewish” in them, which lets non-Jewish recipient non-profits know that the Jewish community cares about them (Mitzvah #3). If you choose the Jewish Advocacy Investment Pool investment option for your fund, you are literally investing in your Jewish values (Mitzvah #4).
9. Philanthropic Advising. We provide philanthropic advising to help you strategize where and how you want to give throughout your lifetime.
10. Partners with your professional advisors. As your philanthropic advisor, we can join your team of other professional advisors to craft an efficient and ffective approach to your charitable giving.
To open a DAF with MN JCF, please contact us at info@mnjcf.org or 952.417.2316. MN JCF staff will work with you to draft the paperwork. If desired, we can also partner with your professional advisor to ensure a holistic approach to your giving.