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WHAT IS AN ENDOWED CHAIR?
By Ann Campbell
Dear Friends,
You recently received the new brochure inviting you to join Congregation Beth Israel's endowment program, the Dor l' Dor Society. One of the opportunities this pamphlet illustrates is the Endowed Chair Program. Many people have asked us to further explain what this program is all about and it is my pleasure to do so in this issue of Tidings.
An "endowed chair" is a special opportunity to perpetually support the position of a critical staff member within Congregation Beth Israel. In appreciation and recognition for a gift of this nature, the staff member's position will always be known by the endowing family's name, much like an endowed professor's chair at your alma mater.
Let's take our Senior Rabbi position for an example. Our Congregation will always require a Senior Rabbi of great distinction for whom we must provide a living wage; a generous gift of $3 million* would provide the endowment necessary to do this. The funds would be invested and the dollars needed would be allocated from the income on an annual basis. The principal and growth would be irrevocably maintained in Congregation Beth Israel's Endowment Fund at the San Diego Jewish Community Foundation.
So, if a donor (perhaps the Rabinowitz Family) wished to assist our Congregation by ensuring that the funds will always be available to have a great Rabbi for our members, Mr. and Mrs. Rabinowitz would make a gift of $3 million to the endowment fund. (This gift could be paid over a one to five year period and could come in the form of appreciated assets, like marketable securities, or even a deferred gift such as a charitable remainder unitrust, pooled income fund or gift of life insurance, depending upon the age of the donor).
In grateful recognition, the Senior Rabbi would always be named The Rabinowitz Senior Rabbi of Congregation Beth Israel in all printed materials, introductions, signatures, and so on.
Below you will see a short list of the positions available for naming within our congregation.
The Senior Rabbi Chair – $3 million
The Associate Rabbi Chair – $2 million
The Cantorial Chair – $2 million
The Executive Director Chair – $1 million
The Education Director Chair – $1 million
The Program Director Chair – $500,000
An endowed chair is a precious gift to our Congregation and it will honor your family as well as our Clergy or Staff member in a way that will be remembered forever. Please let us know if you would like to consider a gift of this nature and we would be pleased to provide a member of our committee to guide you through the process.
As always, your Endowment Committee thanks you for your devotion to CBI and your kind consideration in providing a lasting financial and spiritual security for generations to come.
Sincerely,
Ann Campbell
* Naming opportunities do not reflect compensation levels
If you are interested in a confidential appointment to explore ways in which you may wish to make an endowment gift, please contact Stuart Simmons, Executive Director, at 858-535-1111 ext. 3113.
Merle Brodie, a member of our congregation and our Endowment Committee, serves as Director of Philanthropy at the Jewish Community Foundation. If you are interested in learning more about tax saving strategies through charitable giving, please call Merle at 858-279-2740.
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