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Supporting Foundations

A supporting foundation is an independent, nonprofit corporation with its own identity and corporate structure affiliated with the Jewish Foundation of Louisville. While it qualifies as a public charity with all attendant tax benefits, it has many of the advantages of a private foundation. Establishing a Supporting Foundation at the JCL requires a minimum donation of $1 million.

How a Supporting Foundation Works

You may appoint as many directors to your Foundation’s Board of Directors as you choose, from your family, circle of friends or trusted colleagues. The Jewish Community of Louisville also appoints directors, constituting a simple majority as required by law. The Board conducts the Foundation’s business, including making investment decisions and charitable distributions.

Donor Benefits

  • Continue in perpetuity, allowing family members to work together towards defined goals and philanthropic objectives.
  • Provides more favorable tax benefits than private foundations.
  • Not subject to excise taxes on investment income.
  • Establishes a board of directors with your representation.
  • No annual minimum distributions required.
  • Support by JCL professional staff may assist with drafting mission statements and researching charities, creating a philanthropic focus, evaluating proposals, as well as administrative, legal and financial responsibilities.

For more information contact Stew Bromberg, (502) 238-2755 or sbromberg@jewishlouisville.org.
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The Jewish Community of Louisville does not provide legal advice.  Donors are encouraged to consult their independent tax and legal counsel.

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