By Jessica Endy
Last year, Chad and Alison Kripke set up a Donor Advised Fund with the Toledo Jewish Community Foundation, which enables them to regularly recommend grants to their favorite qualifying charitable organizations. "My wife and I both have very strong Jewish identities," said Chad, who is President of Kripke Enterprises, Inc. "We loved the idea of the fund because it's a great way to park, grow and distribute as we see fit our philanthropic dollars. Plus, we absolutely adore Arleen [R. Levine, J. D., Director of the Foundation] and the Foundation, and we've loved any interaction we've had with Jewish Federation and Foundation of Greater Toledo staff."
Donor Advised Fund donors like the Kripkes can establish a fund through a gift of cash, check ,or any kind of property, including appreciated securities, closely held stock, insurance, and real estate; the fund's assets are managed by the Foundation.* Additionally, donors generally receive an income tax deduction for the cash or the full fair market value of the assets contributed to the Donor Advised Fund; if the property contributed to the fund is appreciated securities, real estate or some other capital asset, donors may be able to avoid paying a capital gains tax on the appreciation.
The Foundation Board recently approved lowering the minimum gift to establish a Donor Advised Fund to $2,000, a significant reduction from the previous minimum of $5,000, in order to create new opportunities for more Toledo community members to participate in legacy giving.
"I am so excited that Chad and Alison have created a Donor Advised Fund in the Foundation as a vehicle for their philanthropy," said Arleen. "Their commitment to enhancing Jewish life is a tremendous gift to our community. They are passionate about identifying philanthropic causes locally and nationally, and are deeply committed to finding creative opportunities to assist those in need. Chad and Alison also have taken active leadership roles in our community agencies and synagogues. They have responded, “Hineni, Here I am,” when presented with the opportunity to serve.”
"Setting up the Donor Advised Fund couldn't have been easier," said Chad. "It was a great experience, and I see the need for more people to participate in legacy giving. Jews are not a dime a dozen in Toledo. The Jewish population is shrinking. The percentage of Jewish people under age 40 is extremely small. If we want to see a future here for our children and our children's children, we must band together and step up to dedicate the necessary time and resources. We really need to work together to build our Jewish community."
Chad, a fourth-generation Toledo Jewish community member, and Alison, a native of Cincinnati, met at Ohio State University; they live in Toledo with their son Jonah, age 7, and daughter Morgan, age 3. Chad has followed in his family's footsteps of donating not only philanthropically, but also of his time and talent. Previous generations of the Kripke family have been dedicated leaders within the Jewish community, particularly at the Federation and at their synagogue, Congregation B'nai Israel. Chad's grandfather, Sherwin, was deeply committed to supporting Israel travel, most especially for his grandchildren. Chad's parents are Sharon and Bobby; his father was president of the JCC and helped orchestrate its merger with the YMCA to keep the JCC alive as the Sylvania YMCA/JCC.
Chad, who just rotated off the Jewish Family Service Board, recently became Treasurer of the Federation, in addition to serving as Federation's Finance and Technology Committee Chair and a Campaign Committee member. "I saw this kind of investment from a very young age," said Chad, who, in his youth, participated in the synagogue and its Hebrew school, BBYO, the JCC, and Israel travel, "and it has always come naturally to invest of myself."
Thanks to Chad and Alison's example and commitment to their children's communal involvement, supporting the Jewish community will also likely come naturally to this fifth generation of Kripkes. Jonah and Morgan already participate in youth programs throughout Toledo. Both children are attending Camp Gan Izzy. Jonah is attending religious school at The Temple, and Morgan will attend Gan Yeladim Preschool in the fall.
"Over my years as Foundation Director, I have had many special conversations with three previous generations of Chad and Alison’s Toledo family, and I look forward to the day I can have these discussions with Jonah and Morgan," said Arleen. "I remember the pride that Chad’s grandparents, Sherwin z"l and Naomi Kripke z"l, felt in seeing the next generation take on leadership roles and I know the immense joy they would find in their grandchildren's and greatgrandchildren's Jewish communal involvement, which will help build a bright future for Toledo’s Jewish community.”
"Through my involvement with the Federation, I've seen how lucky we are for a city our size to have a Federation and Foundation like we do," said Chad. "The staff is tremendously dedicated to Toledo's Jewish community. I like being involved, because they make it pleasant. I've always felt it was my obligation to perpetuate my family's legacy, but, thankfully, it is also my pleasure."
"We are so fortunate and grateful to have Chad and Alison in our community," said Stephen Rothschild, Executive Director, Jewish Federation and Foundation of Greater Toledo. "They represent the very best of how Jewish Toledo can be impacted by and have a positive impact in the lives of younger Jewish families. I hope their efforts continue to inspire others to be a part of something really special as we move from strength to strength."
For additional information on the Foundation or establishing a Donor Advised Fund, contact Arleen R. Levine at 419-724-0355 or Arleen@jewishtoledo.org.
*Donors should consult their professional advisors for legal or accounting advice.