Making It Easier to Support Our Community
The RJF Board of Directors recently modified several policies to make it even easier to support our community through increased grants. These new policy changes are designed to support our community through:
- More flexibility for current donors
- Greater accessibility for new donors
- Increased philanthropic dollars for our community
Effective July 1, 2020, two major policy changes affecting donor advised funds (DAF) and endowed funds went into effect. The minimum balance for a DAF has been lowered from $2,500 down to $1,000. $5,000 is still required to begin a DAF and the minimum grant recommendation remains $100. And, for endowed funds, the minimum amount needed to start a fund has been lowered from $10,000 down to $5,000.
Jeffrey Scharf, RJF board chair, stated, “It’s our intent to make philanthropy easier for as many people as possible and to remove any barriers in the way of granting money from RJF funds to the community. Lowering the threshold for new endowments and allowing more money to flow from DAFs, especially during these challenging economic times brought on by COVID-19, are in the best interest of our donors and the charities that they cherish.”
Richmond Jewish Foundation is managing over $41 million in 271 separate funds ranging from donor-advised funds to endowments and two dozen Jewish agencies, schools, and local nonprofits.