Unprecedented Global Commitment Of Philanthropic Family Foundations, Individuals, And Families Ensures A Vibrant Jewish Future With Legacy Gifts
ATLANTA, Oct. 3, 2023 /PRNewswire/ — Today marked a major milestone demonstrating a powerful wave of commitment to Jewish values, traditions, and the State of Israel. The Jewish Future Pledge (JFP) has garnered to date, 25,000 pledges. The pledges, made by an alliance of philanthropic family foundations, individuals, and families, represent an extraordinary commitment of just over $2.4 billion that has been set aside to help ensure a vibrant Jewish future for generations to come.
The 25,000 individual pledges are each estimated to be valued at $25,000. This amounts to a total of just over $625 million. Additionally, JFP has secured 41 substantial pledges from prominent family and charitable foundations. When these pledges are included, the funds set aside for Jewish causes, or the State of Israel to date increases to $2.446 billion.
“Today, we have witnessed not just an achievement but a testament to the immense power of a community bound by unity, unwavering commitment, and a shared vision that transcends individual existence,” said JFP Founder Mike Leven. “This monumental feat we’ve achieved goes beyond mere statistics. It is a profound affirmation of the strength forged in solidarity. Each one of our 25,000 pledges is more than a simple promise. It is a sacred commitment that bears the weight of our collective determination to honor, uphold, and cherish our Jewish heritage. Each pledge is a bold proclamation of faith in the future – a future we are shaping together. This promise is fueled by the generosity, foresight, and daring spirit of each individual who has stepped forward to make a difference.”
Research indicates that individuals typically leave an average of $50,000 to charity in their estate plans. However, through JFP, each pledger has committed to allocating half of their planned charitable contributions to support Jewish causes or the State of Israel. This equates to an average of $25,000 per pledge.
Considering the 41 family and charitable foundations that have joined the pledge, the total pledged endowment increases dramatically. On average, these foundations have pledged to designate 30-40% of their assets to support Jewish causes of the State of Israel. Notable foundations include the Charles & Lynn Schusterman Family Foundation and the Marcus Foundation, raising the total pledged amount to $2.446 billion.
The power of this milestone underscores the pivotal role played by generational wealth transfer in sustaining nonprofit organizations. Legacy gifts serve as essential resources that empower educational endeavors, community development, social services, and cultural initiatives.
“These 25,000 pledges stand as more than mere numbers; they are the echo of countless conversations, a testament to the exploration and celebration of Jewish values. Each pledge holds a story of love, faith, and dedication, a beacon of our timeless commitment to Tzedakah passed from generation to generation. Their impact ripples beyond the individual, creating a powerful wave of collective action that transcends borders and generations, shaping an enduring Jewish future,” said Hadara Ishak, President, Jewish Future Pledge.
Jewish Future Pledge does not receive any of the earmarked funds. Rather, the initiative encourages individuals to have intergenerational conversations and to take part in the Jewish tradition of Tzedakah to preserve Jewish values and life lessons. Inspired by the Giving Pledge, which Warren Buffett and Bill and Melinda Gates introduced in 2010 for America’s wealthiest philanthropists, The Jewish Future Pledge reaches out to people of any income whether individuals plan to leave $10 or $10 million to charity.
About The Jewish Future Pledge
The Jewish Future Pledge (JFP) is a global initiative dedicated to preserving and strengthening the Jewish people and their community’s future. The JFP initiative invites individuals, foundations, and organizations to commit that a significant portion of their charitable giving will support the Jewish community and/or the State of Israel. The pledge is a way for individuals to take action and express their values while having open discussions with family and friends. JFP recognizes the importance of engaging the next generation and has created the Jewish Youth Pledge, which encourages young Jews between the ages of 13 and 24 to become active community members and provides them with the resources to do so. JFP has formed partnerships with prominent Jewish organizations, including the Jewish Federations of North America, JNF-USA, Israel Bonds, the Orthodox Union, and numerous local federations in the United States. These partnerships help to amplify the message of JFP and work toward a common goal of ensuring the future of the Jewish people. For more information on the Jewish Future Pledge and how to get involved, please visit https://jewishfuturepledge.org/.
SOURCE Jewish Future Pledge
Originally published at https://www.prnewswire.com/news-releases/jewish-future-pledge-hits-landmark-25-000-pledges-securing-over-2-4-billion-in-commitments-for-jewish-causes-and-the-state-of-israel-301945396.html
Images courtesy of https://pixabay.com