Several community organizations recently received a wonderful surprise when they learned they were the charitable beneficiaries of a generous donor who created a Jewish legacy through the Jewish Community Foundation.
The donor, Christa Louis, worked with the Foundation to establish a Donor Advised Fund, a charitable giving account. {mprestriction ids="1,3"}She included the provision that at her death, her fund would be converted into a permanent endowment which would benefit seven local Jewish organizations in perpetuity. At that time, Foundation staff discussed with Louis the possibility of adding a charitable bequest to her fund to further her charitable legacy, but were unaware that she had completed formal plans to do so. Louis passed away in March of 2014.
Thirteen months later, Lauren Mattleman Hoopes, executive director of the Jewish Community Foundation, received a call from a trustee of Louis’ trust at UMB Bank. Hoopes learned that the Foundation had been designated the sole remainderman beneficiary of Louis’ trust. When fully distributed, her gift is expected to add more than $8.5 million to the fund. The generous endowment will provide annual income to Congregation Beth Shalom’s Mount Carmel Cemetery; Hyman Brand Hebrew Academy; The J; Jewish Family Services; Rabbi Gershon Hadas Guardian Society for Children Camp and Israel Scholarships; The Temple, Congregation B’nai Jehudah’s Rose Hill Cemetery; and Village Shalom.
“We are extremely honored that the Foundation was selected to be the caretaker of Christa’s legacy in perpetuity,” says Hoopes. “A gift of this magnitude will have tremendous impact on the charities that Christa cared about most.”
Louis also made arrangements in her estate plan to support many local friends and relatives in her native Germany. She and her late husband Stanley were the former owners of the Louis Memorial Chapel. According to friends, Louis was a devoted wife who adored children and loved to give, but not receive gifts.
“Christa was a very giving person,” says Seymour Krinsky, Louis’ long-time friend and financial advisor. “Though she would not have liked this attention when she was alive, she would be happy that her gift might motivate others to give back to their community.”
Louis’ is the second largest endowment gift in Jewish Community Foundation history. The largest was the Joseph Cohen and Margaret Pollock Cohen Fund, established by a bequest from Barton Cohen in 2008. The $12 million gift benefits the Jewish Federation.
The Foundation offers creative philanthropic services to donors of all ages and financial means. For more information on how you can create a Jewish legacy for your favorite organizations, contact Josh Stein at 913-327-8121 or .{/mprestriction}