Got Questions? We've got answers
What is the advantage of donating to the family fund?
- Collective giving is a powerful force. By contributing to this fund, family members can maximize the impact of their individual donation while strengthening the bonds amongst our ever growing Lifchitz family. It will honor our ancestors’ values and engage family members of all ages in shared acts of tzedakah.
Who is managing the fund's money? How much do we pay for this service ?
- The fund is housed at the San Diego Jewish Community Foundation. It provides full financial management services, for which it requires a 1.25% annual fee. Based on the Foundation's past performance, we should earn over 3% on the money we invest with the Foundation (the Foundation will put our money in a short-term fund, since we'll be spending it each year; such funds earn less than longer-term investments).
What types of causes and charities will the fund support?
- The fund will focus on three general causes: education, social justice, and Israel. The specific organizations we select within these categories will depend entirely upon the family voting process.
Who will decide which causes/charities are voted upon? How does the process play out?
- Each year, family members will be encouraged to nominate specific organizations within the fund's three core issue-areas: education, social justice, and Israel. The Board and the Circle of Youth will vet the submissions and distribute a ballot of 5 or 6 organizations to be voted upon. Every family member post-Bar/Bat Mitzvah age can vote for up to 3 organizations. Completed ballots may then be submitted online or mailed to the Fund Secretary, who will compile the results and announce the top 3 vote recipients via the family newsletter or the Lifchitz family website (www.lifchitzfamily.org).
How often will the family vote on its preferred causes/charities?
- The fund will operate on an annual cycle, and family members will have an opportunity to vote once per year.
When do we donate to the fund? How do these donations take place?
- Family members can donate at any time throughout the year – before, during, or after the voting process. Everyone is also welcome to give at family simchas such as bar/bat mitzvahs, weddings, and other celebrations. The San Diego Foundation enables online donations for our account, and we will provide a link to this feature on the philanthropy website and in the family newsletter. You may also mail checks to the philanthropy’s treasurer.
Is this an endowment, or do we expect to contribute all or most of what we take in?
- There is no endowment as such. Aside from the San Diego Foundation’s administrative fees, all of our family-donated money will go to reputable organizations with demonstrated records of success. The actual amounts we give away will depend on how much money is donated into the fund.
Is there a minimum donation?
- The minimum donation is $18. There is also a RECOMMENDED annual donation for people over age 30 to give $180.
Are donations to the fund tax-deductible?
- Yes. This is one of the advantages of housing the fund with the San Diego Foundation – we can piggyback off of its non-profit tax-code status.
If I’m unable to contribute to the fund, can I still vote on who receives the donation?
Can we give some of the fund's money to family members who are in need?
- Unfortunately, no. Housing the fund with the San Diego Foundation, a 501c(3) organization, legally precludes donations to individuals. Donations must be made only to non-profit organizations.