Endowment Board of Trustees

Endowment Bylaws View

Mission to Follow

Planned Giving

To live a life of fulfillment

To love and be loved by family and friends

To grow through learning in competence and conscience

A spiritual and compassionate Jewish community like Beth David can be central in helping to achieve these important personal goals.

But the search for significance leads many to ponder . . .

how can I leave an enduring legacy?

You can make a lasting impact through a legacy gift to Beth David Endowment Fund. Your gift will continue to make a difference in insuring a vibrant future for Beth David for generations to come.

There are many simple ways to include a legacy gift in your estate plan. Many people discover that they can leave much greater gifts as part of their estate plan than they had ever dreamed possible.

For more information and a no-obligation exploration of your legacy opportunities, please contact Tanya Lorien, lorien@beth-david.org, or 408-257-3333.

Congregation Beth David Endowment

Board of Trustees Meeting Minutes

26 May 2011

The Congregation Beth David Endowment Board of Trustees met at 7:45 PM on Tuesday, 24 May 2011 at the home of Joanne Cornbleet. President Michael Leitner chaired the meeting. Dan Skilken, Joanne Cornbleet, David Hoffman, Jeff Kanel, Judy Levin and Rick Tavan attended, Rick recording.

Tax Status

Michael reported that he and Michael Schaffer are working to resolve our status with respect to IRS Form 990, Annual Report for Non-Profit Organizations. We should be exempt from filing.

Legacy Giving Project

Several people have agreed, at least tentatively, to work on this project that involves training in legacy gift fund raising. David agreed to backstop Jerry Bloom if Jerry agrees to serve as chairman of the committee. Our participation will cost $2000 over the course of the program. Rick MOVED to authorize Michael to proceed with our application to participate, subject to Jerry Bloom agreeing to chair the committee and Lee Hirsch agreeing to backstop Jerry and David. Judy SECONDED the motion which PASSED. Joanne agreed to talk to the rabbis about mentioning at HHD services that this project has been launched. Several professional financial planners have offered to provide free initial consultations to members who are interested in legacy giving.

Financials

Dan reported that the Endowment’s accounts are now open at Morgan Stanley and have been funded by transfer from the synagogue’s accounts. Current balance is about $134K with another $18K pending. The funds are invested mainly in money market instruments but will soon be gainfully invested. The money is being managed by respected, long-time provider to the Skilken family Emilio DeSousa, formerly of the Wells Fargo Private Bank Investment Group.

Dan and Michael agreed to review sample investment policy documents and talk with Emilio about creating one for us. ACTION: Dan to present a proposed policy document at our next meeting.

Dan reported that accounting is largely under control at this point. There were about $500 unaccountable between synagogue and endowment funds at inception. The Board AGREED to accept this as an initial condition with no further research required but that our own bookkeeping going forward must be precise.

Cemetery

Unsold cemetery plots are still titled to CBD. The Board AGREED that it is unnecessary to file formal paperwork to transfer them formally to the Endowment. However, recent discrepancies in congregant ownership records have been distressing, sometimes at unsettled times. We need to vet these records, both at CBD and at Oak Hill Cemetery, in order to assure ourselves and our congregants that they are in order, with no plots unaccounted for and no overlapping assignments of ownership. ACTION: Rick to research the situation and draft a procedure document for our next meeting.

Next

The next meeting will be Tuesday, August 2 at Dan’s house.

The meeting adjourned around 9:00 PM.

Respectfully submitted,

/Richard Tavan, Secretary