History and Mission
Temple Israel of Long Beach members established the Foundation in 1977 as a 501(c)3 non-profit organization to acquire, manage, and expend funds for charitable purposes. The Foundation manages and maintains the Temple “nest egg,” which generates annual investment earnings that support ongoing and future programming. Donors may designate funds for specific purposes, such as supporting the religious school, youth scholarships, or building improvements. The Foundation also uses donated funds to sustain Temple activities during an economic downturn, and holds pledges for bequests and other future gifts.
Leadership
An 11-member board leads the Foundation, while the Temple’s executive director and staff administer its funds. A paid financial advisor manages Foundation investments under guidance set by the Board.
Current Foundation Board of Directors:
- Mark Sharzer, President
- Richard Burney
- Dan Felsenthal
- Don Fike
- Steve Gordon
- Ellen Polsky
- Norma Stein
- Zal Tepper
- Ilsebill Wolfe
- Kathryn McDermott
Planning for the Future
To maintain a principal healthy enough to meet any challenge, pandemic or otherwise, the Foundation launched the “Campaign for the Next 100 Years.” The goal is to build our overall endowment to $10 million between now and the Temple’s 100th Anniversary in 2024. Meeting this goal would generate earnings required to supplement one-quarter to one-half of the Temple’s annual operating budget—reducing pressure to fundraise annually. It would also support the establishment of four specific endowments to underwrite the Senior Rabbi, Cantor, and Educator Chairs, as well as create a Temple Preservation Fund.
As part of the Temple family, YOU can help us prepare for the next 100 years. Please consider contributing in one of the following ways:
Outright Giving
Gifts are accepted at any time and through many means. The Foundation accepts cash, real estate, stocks, bonds and IRA distributions. These contributions are eligible for a tax deduction under the fullest extent of the law. (Please refer to your financial advisor or estate planning attorney).
Wills and Bequests
You may create a bequest through your Will or Trust by allocating a specific amount or a percent of your estate. Alternatively, you may name the Foundation as beneficiary on a life insurance policy, annuity or retirement account.
Charitable Remainder Trust
This type of Trust can provide lifetime income for you and your spouse, and even your heirs, while receiving a current income tax deduction the year the Trust is established. Upon termination of the Trust, the Foundation receives the remainder amount.
Life Estate
A gift of real estate allows you to retain the full use and benefit of the property during your lifetime.
Other Options
A financial advisor or estate planning attorney can advise you on the best method for establishing your legacy while fulfilling your own financial needs.
Please contact Temple Israel Executive Director Eric Shatzkin or Foundation leadership to learn more about the Next 100 Years campaign, or to learn about making a cash gift or legacy pledge.