Genesis Mitzvah Fund
The Genesis Mitzvah (GM) fund gives youth the opportunity to be philanthropists, by introducing our community’s teens to the world of giving; offering the next generation a way to make a difference at organizations that are important to them. Family and friends may contribute tax-deductible cash gifts to the fund at the time of the bar/bat mitzvah or at any time thereafter (e.g., birthdays and special occasions). Assets in the fund are invested and grow tax-free, generating more charitable dollars for distribution to charities of the teen’s choice. A GM fund teaches tzedakah by permitting teens to make annual distributions to charity — both Jewish and secular causes. The teen may recommend distributions of income each year to a maximum of four qualified charitable organizations. Grants can be made with recognition or anonymously. The teen can choose to use our online portal where they can track their fund and make recommendations for grant distributions. Fund Conversion. After ten years, the fund will be converted to an endowment fund in your child’s name. Funds that have a balance of $5,000 or more can be converted to a Donor Advised Fund which gives the fund holder the ability to continue recommending distributions to charities of their choosing.
Minnetonka, MN 55305 US