Directory
Membership Application
YAD Experience
Memberhood

Endowment Funds

Endowment Gift Policies and Guidelines
Purpose of Endowment

The purpose of endowment is to promote the overall mission of Temple Beth Am and the Day School.
Gifts to Endowment

Gifts to the endowment of any amounts may be contributed to the unrestricted endowment of the Temple or to an existing named endowment fund having a restricted purpose.

A minimum gift of $50,000 is required to establish a new named endowment fund.  If such fund has a restricted purpose, then it will be governed by the terms of an Endowment Agreement approved by the Board of Trustees.

All endowment gifts will be contributed to the Temple’s endowment portfolio although in special cases named endowments may be held outside the Temple endowment portfolio according to terms in the Endowment Agreement.
Gifts other than Cash and Marketable Securities

Gifts other than cash and marketable securities cannot be accepted unless approved by the Board of Trustees. These gifts may be:
• Real estate or other property (i.e. paintings, jewelry, automobile, boat) with an independently appraised value of $50,000 or more.
• Life insurance whereby the cash value of the policy is $50,000 or more, and the donor designates Temple Beth Am as the sole owner and irrevocable beneficiary.
• Non-marketable stocks, bonds and other securities.
Timeframe for Payment of Endowment

It is understood that donors will seek to fulfill their endowment pledges to the Temple as set forth in the endowment agreement. If a donor does not meet his pledge obligation, but the contributed amount is in excess of $50,000, investment income will be allocated for the stated purpose of the endowment fund.  In those cases, where the donor does not meet his pledge obligation and the contributed amount is less than $50,000, the Board of Trustees may redesignate the contributed amounts as unrestricted endowment.
Re-Designating Funds

With respect to named endowment funds having a restricted purpose, the Board of Trustees has the right to re-designate funds as unrestricted endowment funds in the event these funds are no longer needed for the original purpose. Unless otherwise agreed to in writing by the Board of Trustees, this provision will be incorporated in all such Endowment Agreements.
Accounting

When an endowment fund is established, information setting forth the terms should be documented in the Endowment Fund Agreement between Temple Beth Am and the donor. Temple Beth Am will provide each endowment donor an annual report regarding the status of his fund and how the funds were used over the past year. This report will show a beginning balance, any additional contributions, investment income, disbursements and an ending balance.
— Adopted by Temple Beth Am Board of Directors, October 24, 2006

Designed and Delivered by
Accrinet