The Temple Sholom Endowment Fund (“TSEF”) is a very critical component of the synagogue’s financial stability currently and well into its future.
For those of you who are not well informed about the TSEF, we would like to draw your attention to the following:
- As you enter the synagogue you will note a beautiful “donor board” on the right hand side of the entrance. This board acknowledges members and donors who have contributed a minimum of $18,000 to the TSEF.
- Over the years we have accumulated over $1.5 Million in the TSEF, which is safely and conservatively invested. As at December 31, 2017, 47% of the TSEF is invested by a professional asset manager in public stocks and fixed income products, 32% in a mortgage secured by Rabbi Dan on the Rabbi’s house and the balance (21%) in cash and interfund receivables.
- During 2017, the TSEF Committee recommended and the TS Board approved grants out of the TSEF to pay for: (a) Transgender Training; (b) Poet in Residence program; (c) Handicap Door upgrades; and (d) Wise Ageing training. A total of $19,400 in Grants were approved.
- The TSEF Committee is currently working on a policy paper to set out the process for Grant application. As well, the TSEF Committee will conduct a formal review of the professional asset manager as part of a normal formal review process (please note that we will be inviting the current manager to propose to manage the portfolio again as the Committee is happy with its performance to date).
Perhaps the next time you walk into Temple Sholom, stop and view the beautiful donor board and if you know any of the contributors, an acknowledgement and a thank you from you to them would be their best reward for their support.
Ways to give
Every gift, whether large or small, makes a difference. There are many good and better ways to make tax effective gifts now or in your estate plans that support the Temple Sholom Pillars. Planned giving has many options including.
Securities
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Donating appreciated securities is simple, cost-effective and the most tax-efficient way to make a charitable gift. You can use any of the following securities: prescribed bonds, units of mutual funds, exchange traded funds (ETFs), shares, warrants, bills and futures that are listed on the stock exchanges prescribed by Canada Revenue Agency.
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