Unrestricted Funds The resources of the ALEF Unrestricted Fund come from lifetime gifts and bequests. Contributions that are unrestricted are permanent gifts to ALEF from which the investment income--and in some circumstances, the principal -- is distributed at the discretion of the Endowment Committee in the form of grants.
Restricted or Special Purpose Funds Restricted or Special Purpose Funds allow donors to meet their own personal charitable objectives by designating income for a particular purpose. Some examples are funds to support congregations or any of the Jewish Community Board’s constituent agencies, or funds for Jewish education, care for the elderly, assistance for distressed families, or aid to Israel.
PACE and LOJE Funds One endowment option is the PACE (Perpetual Annual Campaign Endowment) Fund. A PACE Fund is structured to be large enough to ensure that the income generated from investment will be sufficient to maintain the donor’s annual Jewish Welfare Fund Campaign gift during the donor’s lifetime and beyond. Similarly, LOJE (Lion of Judah Endowment) Funds perpetuate significant gifts made by women to the annual Jewish Welfare Campaign. PACE and LOJE Funds can be created with lifetime gifts, life insurance or bequests specifically earmarked for the annual Campaign.
<b>Philanthropic Funds</b> One of the most appealing and multi-purpose charitable vehicles available to donors is the Philanthropic Fund. Donors receive both tax and philanthropic planning benefits in a simple format with a high degree of flexibility. ALEF will consider donor’s recommendations for disbursements to be made in support of charitable programs and organizations that are approved by the Internal Revenue Service and are consistent with the Board’s purposes. Upon the death of the last recommending party, the fund’s remaining assets are transferred to the ALEF Unrestricted Fund.
<b>Supporting Foundations</b> A Supporting Foundation is a separate non-profit corporate entity established in accordance with Internal Revenue Service regulations and operated in furtherance of the purposes of the Jewish Community Board. A Supporting Foundation is governed by a Board of Directors, which makes decisions with regard to investments and charitable grants. The Board of Directors includes both family members and representatives of the Jewish Community Board of Akron.