CLEVELAND JEWISH NEWS | CJN.ORG MAY 20, 2022

Heed this advice when approaching legacy giving

AMANDA KOEHN

akoehn@cjn.org | @AmandaKoehnCJN

Legacy gifts, or charitable donations distributed from one’s estate after death, not only allow for donors to give back long after life, but have major impacts on the bene ciary organizations.

However, choosing where to give, ensuring your intended purpose is met and making straightforward, detailed plans that can later be executed without missteps may seem daunting. For that reason, Matthew Kali , senior director of endowment development and supporting foundations at the Jewish Federation of Cleveland in Beachwood, and Amanda Pinney, executive director of strategic giving at Case Western Reserve University in Cleveland, shared how potential donors can select charitable bene ciaries and verify their wishes will be met years or even decades later.

First, individuals should consider what cause they want to give to and what speci cally they want to give. Once the organizations are chosen, donors should then consider what speci c needs they want to meet within that organization, if any.

“Whether it is providing scholarship support to rst-generation students, being a catalyst that provides seed funding for research, or perhaps even providing funding for the area of greatest need, ask yourself what area is most important to you,” Pinney said. “Make sure the purpose and impact align with the investment you are making – both in the future of the organization and in your legacy.”

Once the purpose is chosen, donors will choose the vehicle for making the gift, Pinney said. ey could write it into their will or trust, or use existing accounts or other methods that are best to be considered with a nancial adviser or lawyer, as well as the charitable organization in mind.

Pinney noted taking advantage of charitable gift annuities, or arrangements between a donor and charity that provide lifetime income for the donor while also bene ting the cause.

Kali said planning a gift doesn’t have to be a complicated process.

“ ere are a variety of simple ways to provide a bequest that do not require a will or trust,” he said. “For example, you can designate a charity as a bene ciary to your retirement account or to a life insurance policy. ‘Pay on death’ accounts allow you to name a bene ciary to a bank account or CD. So, while you rst think of a will or a trust, a bequest can be as simple as lling out a form. Simple is obviously better.”

Further, when selecting a charitable organization, donors should ask about issues like the impact of the gift, if and how it will be recognized publicly, accountability and transparency, speci c areas that need the most support now and in the future, and tax advantages. Additionally, they will want to work with the organization to determine how their goals can be accomplished in the most e ective way, Pinney said. Donors should think hard about the di erence they hope to make and enjoy the process, she said.

“My best advice is always to take the time to give thought to what impact you wish to have, and never forget that philanthropy should be fun,” she said. “Your passion for others should allow you to enjoy knowing the impact you are making on future generations.”

Once one’s wishes are solidi ed, they should be documented.

“I would also suggest completing a letter of intent with the organization and mirroring that same language in your estate plans,” Pinney said. “Having both your personal nancial team and the university in alignment with your wishes provides an added layer of accountability to ensure that your gift has the direct impact that you wish.”

Kali explained that donors should consider the longevity of nonpro t organizations.

“Is the organization likely going to be there in the future when the bequest comes into fruition?” he recommended taking into account. “And what happens if it’s not there? How are they going to plan for that contingency?”

He also noted that legacy giving is not limited to wealthy individuals.

“Legacy giving and bequests are not limited to the very wealthy,” he said. “Anyone can make a bequest … at any amount. And it is always appreciated by the recipient organization.”

And no matter the amount or exact type of gift, legacy giving at its core re ects Jewish values, Kali said.

“Legacy giving is an expression of a person’s values and also a very Jewish idea in that it expresses optimism for the future and it expresses appreciation,” Kali said. “ ose are both very Jewish perspectives. … It expresses appreciation for the bene ciary, for the work they do and what they do for the community, and optimism for the future that you are concerned for future generations, and that future generations will be here to bene t from your generosity.”

Kaliff Pinney

Staff Reporter Meghan Walsh contributed to this story.

Giving Guide Index

A Cleveland Jewish News Advertising Special Section

28 A Kid Again 29 ACLU of Ohio 30 Akron Children’s Hospital Foundation 31 American Cancer Society 33 American Red Cross of Northern Ohio 34 Benjamin Rose Institute on Aging 35 Case Western Reserve University 36 Cleveland Clinic 37 Cleveland Metroparks 39 Cleveland Museum of Art 40 Cleveland Museum of Natural History 41 The Cleveland Orchestra 42 Cleveland Zoological Society 43 College Now Greater Cleveland 45 Cuyahoga Community College Foundation 46 Global Cleveland 47 Goodwill Industries of Greater Cleveland & East Central Ohio 48 Great Lakes Science Center 49 Group Plan Commission | Cleveland Public Square 50 HFLA of NE Ohio 51 Holden Forests & Gardens 55 Hospice of the Western Reserve 56 Hunger Network 57 Ideastream Public Media 58 Jewish Federation of Cleveland 59 JumpStart Inc. 61 Koinonia Homes 62 Kol Israel Foundation 63 Legal Aid Society 64 Leket Israel The National Food Bank 65 Maltz Museum of Jewish Heritage 67 MAZON, A Jewish Response to Hunger 68 Menorah Park 69 MetroHealth Foundation 70 Na’amat USA, Cleveland Council 71 National Council of Jewish Women/Cleveland 72 OhioGuidestone 73 Planned Parenthood of Greater Ohio 74 Providence House 75 Shoes and Clothes for Kids 76 Stella Maris 77 United Way of Greater Cleveland 78 University Hospitals 79 Youth Opportunities Unlimited

MAY 20, 2022

CJN.ORG | CLEVELAND JEWISH NEWS | 27 Vet charitable organizations before gifting time, treasure

AMANDA KOEHN

akoehn@cjn.org | @AmandaKoehnCJN

Giving back to charitable organizations either through nancial contributions or volunteering has great bene ts to both the nonpro t and donor.

However, not all charities are the same in terms of credibility, transparency and ensuring donors’ dollars are used e ectively and e ciently. Before becoming involved, it’s best to research the organizations, said Brian G. Sokol, chief development o cer and vice president at the Menorah Park Foundation in Beachwood, and Jason Weiner, philanthropic adviser at the Cleveland Foundation in Cleveland.

Considering whether an organization truly aligns with your values before donating based on ads or mailed solicitation is a good practice, Weiner said. If you’ve never donated to a group before, become educated on the impact of donations.

“I think an organization that prioritizes donor education and engagement, that work should be making it easy to see the impact that philanthropy has on the organization and why it is important to them,” Weiner said.

Sokol said donors should seek information about the organization’s history, community contributions and results.

“I would encourage potential donors to meet with the charity’s leadership, both volunteer leaders and key individuals within the organization, in order to learn more about its history, proven bene ts to the community and ensure stewardship as a core value,” Sokol said in an email interview. “ is added insight works to enable them to see tangible results of the implementation of previous philanthropic support. ey could also do additional independent research online to see both current and historic information.”

Weiner said donors should work to understand whether the organization is well positioned to achieve the results intended. ey should look into whether there’s stability among sta and leadership, and if those in leadership roles are quali ed to achieve what they say they will. Additionally, they might consider its strategic plan and whether it matches what the group seems to do, and how it handles nances and transparency regarding money.

“ e most important thing is to be able to con rm whether the organization is a 501(c)(3) organization in good standing with the IRS,” Weiner said. “So, you can certainly ask an organization for their tax ID and it may be on the ‘donate now’ page of their (website).”

Both Weiner and Sokol advised looking out for updates – via newsletters, emails, social media and other communication channels – from any organization they give to, acknowledging the funds and impact.

Several tools are also available to con rm the legitimacy of a nonpro t. Weiner noted donors should be able to access an organization’s Form 990, an IRS-required form where organizations must submit their activities, governance and nancial information. Candid.org provides a Form 990 search tool. He also recommended the website Charity Navigator, a nonpro t evaluation site that provides information around nances, governance and ethics.

Upon making the gift, a donor should make clear whether the contribution is for general operational use or a speci c purpose, and their wishes should be honored by the organization, Weiner said.

For volunteering, Weiner said people should consider the organization’s needs and connect with a volunteer organizer. For a leadership role, such as board or committee membership, they want to ensure expectations and commitments are clear. ey may also consider whether their skill set ts what’s needed, if the role requires a nancial commitment, whether the group is well organized and ask about the experiences of other members. e organization should have some structured method for thanking hard working volunteers, Weiner said.

“I know a lot of us don’t do this work for the recognition, but I think how an organization says thank you says a lot about them,” he said. “Just like when someone is making a nancial contribution, do volunteers feel like the time and talent they are giving is making a di erence as well?”

Sokol said a nonpro t should supply volunteers opportunities that align with the core mission.

“Conversations with the organization’s sta and leadership can provide insights into additional engagement opportunities, including hands-on volunteering, assistance with fundraising and perhaps ultimately board involvement as well,” Sokol said. “Actions should align with the vision, mission and core values of the organization.”

Giving back to an impactful, credible organization can change the lives of both the donor and those who bene t. At the Menorah Park Foundation, Sokol said he values being part of an organization that impacted his own family.

“Participating in any way with a nonpro t organization brings great purpose to our lives,” Sokol said. “With every moment, we have opportunity to make a di erence – to practice tikkun olam in the ways that bring meaning to us as individuals. I am so proud to be part of an organization where both of my grandmothers enjoyed their later years.”

Weiner said those who work with the Cleveland Foundation are provided consistent expertise on issues and organizations locally and nationally as a bene t.

“Donors who give through a donor-advised fund at the foundation have the option to work with a philanthropic adviser to gain deeper understanding of philanthropy and to feel good about the impact they can have, knowing they made an informed decision that re ects what’s most important about them as a donor,” Weiner said.

Staff Reporter Meghan Walsh contributed to this story.

The CJN goes one-on-one with: Mary Wheelock, executive director for philanthropy at MetroHealth

STEPHEN LANGEL

slangel@cjn.org | @LangelCJN

The Cleveland Jewish News asked Mary Wheelock, executive director for philanthropy at MetroHealth, about philanthropy at MetroHealth.

CJN: Who bene ts from MetroHealth’s philanthropic work?

Wheelock: Gifts, whether they be monetary or of time, bene t MetroHealth’s patients and other members of our community. All resources stay here, which means the bene ciaries are individuals in your neighborhood, on your block, perhaps even in your home.

CJN: How does your philanthropy make a di erence in people’s lives?

Wheelock: Most of MetroHealth’s donations are designated by the donor to bene t speci c priorities, such as behavioral health, arts in health, rehabilitation and other social needs overseen by MetroHealth’s Institute for H.O.P.E. e most generous donors provide unrestricted support to the MetroHealth Transformation, enabling gifts to impact the areas of greatest need for the communities we serve.

MetroHealth is much more than medicine. e gifts we receive help improve our patients’ health and well-being in ways that go far beyond the four walls of a doctor’s o ce, including education, job training, housing, nutrition and the arts. e resources we receive support much more than people realize.

The CJN goes one-on-one with: Michele Brown, vice president of development and executive director of the Akron Children’s Hospital Foundation, and Vicki Parisi, director of volunteer services at Akron Children’s Hospital

STEPHEN LANGEL

slangel@cjn.org | @LangelCJN

The Cleveland Jewish News asked Michele Brown, vice president of development and executive director of the Akron Children’s Hospital Foundation, and Vicki Parisi, director of volunteer services at Akron Children’s Hospital, about philanthropy at Akron Children’s Hospital.

CJN: Who bene ts from Akron Children’s Hospital’s philanthropic work?

Brown: Funds and volunteer activities bene t children and their families in need served by Akron Children’s Hospital. ey help the hospital continue its mission and three promises of treating every child as if they were their own, treating each child how they want to be treated and turning no child away for any reason. Volunteerism and philanthropic support enable Akron Children’s to deliver services throughout the hospital and Northeast Ohio.

CJN: In addition to charitable giving, how else can members of the community get involved?

Parisi: We have many volunteer opportunities at our events such as check-in/registration, selling ra e tickets, decorations, silent auction committee and invitations.

We also have volunteers who give hours at the hospital each week assisting our sta , patients and families. Many opportunities exist escorting patients and families, providing directions, helping patients bedside making crafts or baking cookies, being part of our Doggie Brigade team and cuddling babies in our NICU.