B’nai Torah Foundation

The purpose of the Foundation is to support B’nai Torah Congregation of Boca Raton, Inc. The B’nai Torah Foundation was established on August 12, 1991, as a tax-exempt organization under Section 501(c) (3) of the Internal Revenue Code. Donor contributions are tax-deductible in the manner and to the extent provided in Section 170 of the Internal Revenue Code.

The President of B’nai Torah Congregation appoints a President and a Board of Directors annually to manage the affairs of the Foundation. There are not less than three or more than ten Foundation Board Members, plus the Immediate Past President of the Foundation. Board tenure is either one or two years. The President of the Foundation sits on the Board of B’nai Torah Congregation.

The Foundation includes different Endowment Funds that have been established by past and present members of our congregation. Income from these Endowment Funds is used to finance scholarships and operating expenses of our Synagogue. The Foundation serves as the investment vehicle for all of the individual B’nai Torah Foundation Endowment Funds.

Foundation investments are held in two places. Holdings of State of Israel Bonds are held in book-entry with the Bank of New York. Non-invested cash and mutual funds are held at the investment firm of D.B. Alex Brown in Baltimore, MD. Invested funds are held at the custodians of the mutual funds in which they are invested.

Each year, 5% of the B’nai Torah Foundation Fund balance is used to fund the program or service for which the fund was established.

Endowment Funds can be created two ways. First, an Endowment Fund can be established with a gift of $50,000. The second way is to promise by will, insurance policy or other bequest to donate at least $50,000 to fund the named Endowment and promise to pay to B’nai Torah five percent (5%) of the promised Endowment amount on or before the first of July of each fiscal year to fund a specific program line or scholarship program of the Synagogue.

B’nai Torah Congregation Introduces Charitable Gift Annuity Program. For more information, click here.

Our Foundation can prepare a sample illustration for you, including the income tax effects of your gift. Contact the Synagogue at (561) 392-8566 to request a no-obligation confidential illustration.