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September 10, 2004     Heritage Florida Jewish News
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September 10, 2004
 

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PAGE 2 HERITAGE Whether securities have lost value since original purchase or they are highly appreciated stock or mutual funds, either can provide a luc rative tax- deduction when they are donated to TOP Jew- ish Foundation to establish a donor advised fund. "It made good sense for us to invest in TOP as part of our overall investment strategy. Now we have a des- ignated source to give back to this community that is so important to us. The TOP donor advised fund is a way we could ensure that our charitable support to the or- ganizations we hold dear will continue now and long into the future," say Dr. Randy and Gall Coverman. A donor advised fund is a philanthropic investment creating a charitable entity allowing the donor and fam- ily members to be active participants in the process of allocating charitable dol- lars. These charitable dollars can be used to meet a donor's charitable giving needs now and in the future. Grants from both income and principal can be made. Donors get the tax benefits from the giving now and then take time deciding where to distribute the money later. Donors are eligible for an immediate tax deduction for all amounts contributed to the fund. The donor pays no tax on the income generated by the fund. When it comes time for donations, virtually any charity approved by the Internal Revenue Service is eligible. "We established a donor advised fund because it provides us with one source to contribute dollars and distribute them to charity. It provides ease in accounting where and what amount we give to charity. It's simpler for us to monitor how much we need or want to give to charity. It helps us maximize our tax deductions on any given year. The accountability and flex- ibility of a TOP donor advised fund provides us with greater control over our charitable giving," say Dr. Robert and Loren London. Giving of securities often provides the most lucrative tax deductions. Trimming losers from an investment portfolio can turn money losers into money-producers by the earning of a charitable tax deduction when donated to TOP Jewish Foundation to create a named donor advised fund. A broker should sell securi- ties that have lost value with the cash proceeds from the sale donated to TOP Jewish Foundation. By doing this a donor can take the capital loss deduction to offset any capital gains the donor may have. If there are no capital gains, a See "TOP" on page 17 "It made good sense for us to invest in TOP as part of our overall investment strategy. Now we have a designated source to give back to this community that is so important to us. The TOP donor advised fund is a way we could ensure that our charitable support to the organizations we hold dear will continue now and long into the future," say Dr. Randy and Gall Coverman, pictured here with their two daughters. "We established a donor because it us with what amount we give to charity for us to monitor i to give to charity. It helps us tax deductions on any given countability and flexibility advised fund provides us with over our charitable giving," and Loren London. The Jewish Federation has appointed Barney Chepenik to a second term as chair of the 2005 CombinedJewishAppeal Campaign. Funds raised sup- port vital health and human service needs for Jews in the local community, in Israel and around the world. Last year, Chepenik, along with Women's Campaign chair Ren~ Brent, and countless volunteers, raised close to 1.8 million dollars. Chepenik comes to the position with many years of volunteer work on behalf of the Jewish community. He has co-chaired the Major Gifts Division and success- fully solicited many members of the community. In addition, Chepenik has co-chaired the Budget and Allocations pro- cess for two years. Joining Chepenik in the leadership of the 2005 CJA Campaign is Steven Kane Additional leaders are being added to the team. Barney Chepenik offers over 30 years of insurance industry experience. His titles range from Lincoln Financial Advisors' investment advisor representative to licensed insurance and investment broker. His reputation and numerous specialties are well known among the various in- surance companies that rely on his services. His expertise mmunity Do You Have Pre-Paid Funeral Arrangements With Another Funeral Home? We Can and Will Accept All Other Pre-Paid Plans I I 10% Discount on . : nl services and merchandise II n on any new i n Pre-need contracts. I I 640 Lee Rd. Orlando, Florida W.E. "Manny" Adams, LFD James R. Cardinal, Executive Director Michael Meyer, Family Pre-need Counselor Tzvi Halikman, Ritual Director lies in life and disability in- surance, group benefit plans, estate planning, executive compensation plans, and 401(k) retirement plans. Chepenik holds B.S. and M.S.M. degrees from Rollins College's Crummer School of Business, as well as registra- tions in general securities (Series 7), principal (Series 24), and uniform securities law. His diligence has earned him the honorofa Lincoln Na- tional top I percent producer for over two decades. He is a member of the Advanced As- sociation of Life Underwriters and the International Associa- tion of Financial Planners, Million Dollar Roundtable and past board member of Lincoln Financial Advisors' Resource Group. He serves on the Orlando Regional Healthcare Founda- tion's Gift and Estate Planning Advisory Council and has been actively involved in numerous leadership roles in commu- nity organizations, includ- ing past president of Temple Israel. Chepenik and his wife The Jewish Federation has appointed Ren~ Brent as the chair of the 2005 Women's Campaign. In her first term as chair of the Campaign, Brent helped raise over $830,000. Brent chaired Choices for two years, the largest Com- bined Jewish Appeal annual event. Four hundred women attended Choices each of the years that Brent co-chaired the event. Brent and her husband David moved to Or- lando eleven -years ago from Los Angeles with their two young daughters. Brent had previously graduated nurs- ing school in 1989, and in that same year, she said, "I became a nurse, a Jew, and a wife - in that order." She worked as a trauma nurse at Orlando Regional Medical Center, but became a full time mother after her son Ben was born in 1997. Brent alsovolunteeredat Beta BARNEY CHEPENIK Claire were past recipients of the Jewish National Fund Tree of Life Award. Chepenik is cur- rently serving as a trustee for the Tampa-Orlando-Pinellas (T.O.P.) Foundation. The Chepeniks have three sons. Jason and Lee live in Central Florida and work for Chepenik Financial Services. Both are actively involved in the community. Jason Chepe- nik chairs Or Hadash, the RENE BRENT House, and in 1998joined the Adult B'nai Mitzvah class at Congregation Ohev Shalom. In 2000, Brentwas invited to join the Bornstein Leadership Program and assisted in the Silent Auction, which is part of the "Choices" evening. The Young Jewish Federation ( and his wife Jason Chepenik Nancy are briella. Lee Marni, works at Community The Jewish Annual roots enterprise strengthen and Jewish commUf the ground up. decisions doctors, lawyers nancialadvisors and others--who responsibility to the Jewish from cradle to to work Even though have been strong, that would help thousands of See "Chepenik" I following the Silent Auction, chaired the entire Brent has also an emergency which collected pounds of food Harvest and the Pantry at Jewish vices. She is Executive Jewish FederatioO ' Orlando ~ Funds raised bY ish Federation st vices for Jews around the world. FederationAnnua is America's charitable giving. The Federatioo gift is at the Jewish ing much See "Brent" o~