Charitable Gift Annuities
Endowment Funds
What is an Endowment Fund?
It may sound complicated, but it’s really very simple. An endowment is a financial gift made to an institution or organization that creates a permanent source of income. The Cummings Jewish Centre for Seniors is, to a large degree, supported by the generosity of the community. An endowment is one way to ensure that our seniors are supported and cared for, far into the future.
More than just a family affair.
You can create an endowment in your own name, or in the name of someone you love. You can create an endowment to mark an important event in your life or just because you think it’s a good idea. Instead of honoring you with gifts for a birthday or other important celebrations, you might want to ask your friends to contribute to your endowment fund – as a means of involving them in a cause that is so important to you.
You don’t need to be wealthy.
The endowment fund you create at the Cummings Jewish Centre for Seniors Foundation can be established with a contribution of as little as $1,000, but you can increase this amount at any time. Your money is invested for an initial period of 10 years, and only the interest is used to fund the Centre’s activities.
An endowment fund is forever.
Since the capital amount of your generous gift remains intact, your endowment becomes an everlasting gift to the Centre. This is a great philanthropic vehicle that demonstrates your deep caring and concern for our senior community, and it links you and your family to the Centre … for your lifetime and beyond.
For more information, please call Cathy Simons, CJCS Foundation Director at 514-343-3529, local 7229 or e-mail us at foundation@cummingscentre.org.
Bequests
"I did not find the world desolate when I entered it...as others planted for me before I was born, so do I plant for those who come after me." - The Talmud
This is the simplest form of planned giving. Redraft or add a Codicil to your Will leaving a gift to the Cummings Jewish Centre for Seniors, a place that you care about. This could be a specific asset or percentage of your estate.
The Benefits of making a Bequest:
- Enables donors to create a lasting legacy and minimize taxes payable by your heirs.
- It allows individuals to make much larger gifts than they could during their lifetime.
- You stay in control.
For more information contact Cathy Simons at (514) 343-3529 (7229).
Life Insurance
A gift of Life Insurance is useful in estate planning for reducing tax liabilities and minimizing the cost of gifts to CJCS.
Your professional advisors can help you select the type of gift that is best suited to your financial and estate planning needs. Members of the Foundation Professional Advisory committee are also available to provide assistance.
to the Charity Life Insurance Program.
