Jewish Community Foundation Legacy Program FAQ
What is the legacy program?
- A partnership program offered by the Jewish Community Foundation of Montreal that provides training, support and monetary incentives to help organizations secure meaningful after-life legacy gifts for your organization.
- The JCF will accept 10 to 15 Jewish organizations in Montreal to partner with for this program. Each organization will be required to meet predetermined goals to secure bequests, endowments, and other forms of after-life legacy gift commitments.
- The program will run for a period of approximately four years, with the first two years focusing on training and securing gifts while the next two will shift the focus to the legal formalization of the promised gifts.
What is the objective of the program?
- The objective of the program is to secure after-life gifts for Montreal Jewish organizations so that they may continue to provide their services to the Montreal Jewish community for generations to come. Generous and forward-thinking members of the community will have an opportunity to express their passion, purpose and commitment to the future of our valued Jewish organizations.
Why begin a legacy program in Montreal now?
- Numerous studies have shown that North America is in the midst of the greatest wealth transfer in history. The pre Baby Boomer, traditionalist generation, is leaving substantial assets to their heirs, and the Baby Boomers themselves are entering or rapidly approaching their retirement years. As they retire, they are preparing their wills and estate plans, and determining who will receive their assets when they pass away. Montreal’s Jewish community is already incredibly generous and securing legacy gifts now will be crucial for the long term vitality of our Jewish organizations. This is not an opportunity our community can afford to miss.
What are the benefits of this program to your organization?
- A comprehensive educational curriculum which will include training seminars on how to start having conversations with donors about legacy giving, how to market a legacy program, how to steward donors who have promised to make a gift and many others.
- Monetary incentive grants to those organizations that meet their goals. As quota requirements are met, the JCF rewards cash grants to the organizations to use for any purpose they see fit.
- A yearly community wide celebration will be hosted by the JCF to honor all legacy donors.
What are the requirements to participate in the Legacy program?
- Your Board of Governors must be fully supportive of the program.
- Form a legacy team of four to six volunteers including at least one professional.
- Legacy gift investment management will be entrusted to the JCF.
What will the legacy team be responsible for?
- Securing after-life gifts for your organization.
- Mandatory attendance at all training seminars. This will consist of four to five seminars in the first year and two to three in each of the subsequent three years of the program.
- Submitting detailed progress reports to the JCF on a quarterly basis. Guidance will be given on how to prepare these reports.
- Legacy team members need to be willing to make their own legacy gift.
- Stewardship of donors – this is more than just getting a promise and getting the incentive grants – the acknowledgements and continued stewardship is key to the success of this program.
How will the JCF decide who can participate in the Legacy program?
- A final information meeting will be held in February 2019 in which the Jewish Community Foundation will distribute application forms. If you have expressed interest in the program and have been in contact with the JCF you will be notified of this meeting.
- The application deadline will be approximately four weeks after the final meeting. The applications will be reviewed by a committee.
- Key factors in acceptance will be having a strong legacy team, a strong existing donor base and the expressed commitment of your organization’s board of directors.