Earlier this month, we observed Yom HaShoah, Holocaust Remembrance Day. Yom HaShoah serves as a reminder of the atrocities committed during the Holocaust when millions of innocent lives were lost due to the virulent hatred and bigotry of the Nazi regime. It is a day to honor the memory of the victims, to pay tribute to the survivors, and to reaffirm our commitment to ensuring that such horrors are never repeated. As is consistent with many other important days in our Jewish tradition, we retell the stories of our loved ones who experienced this attempt at the destruction of our people. The need to educate and inform the next generation of the realities of our history remains as critical as ever.
Tragically, antisemitism continues to persist in our world today, manifesting itself in various forms, from hate-filled rallies and discriminatory acts to violent attacks against Jews. As stewards of philanthropy and champions of social justice, it is incumbent upon us to stand firmly against antisemitism and to work tirelessly to promote understanding, tolerance, and inclusivity in our communities.
Education as a tool against hate
On May 23rd, we celebrated the more than $3 million that DJCF/SWCF has awarded to support scholarships over the last decade. We were so honored to have more than 200 attendees at this year’s reception, where 70+ students received an award. This impact was made possible by the generosity of our donors, and the incredible efforts of the volunteer review and selection committee. We are proud to announce five new scholarship opportunities that will be awarded in the next cycle, continuing our trajectory toward growth, and showcasing the community’s commitment to education. ABC reporter, Rebecca Lopez, did an outstanding job telling the stories of the students and the unique attributes of each scholarship award.
Education is a powerful tool in the fight against hate. By investing in educational initiatives that promote respectful discourse, mutual understanding, and knowledge of history, we can equip future generations with the tools necessary to confront and combat antisemitism and other forms of prejudice. Each scholarship was awarded with a statement about the Jewish traditions and values that guide our work here at DJCF/SWCF and our hope that the recipients continue to embody the highest ideals of these generous donors.
As fundholders of the Dallas Jewish Community Foundation, your support plays a crucial role in advancing positive social change and building a more just and equitable world. Together, we honor the memory of the past, confront the challenges of the present, and build a future where love triumphs over hate, and where every individual is valued and respected for who they are. If you’re interested in establishing a scholarship in honor or memory of a loved one, or to support educational advancement in a profession close to your heart, please contact us!
Partnering with professional advisors
DJCF & SWCF recently hosted a group of professional advisors for a presentation on nonprofit governance. Jonathan Blum, a partner at Holland & Knight and an expert in nonprofit law, emphasized the fiduciary obligations of any nonprofit board member: the duty of care, the duty of loyalty, and the duty of obedience. While these may be the extent of one’s legal obligations, Jonathan added a fourth duty to the list: the duty of curiosity.
This mandate to be curious is not only best practice for those serving on nonprofit boards: it is a pathway to a more fulfilled life. Being curious helps challenge our own (sometimes wrong!) preconceptions. Asking questions – and thereby learning new information and gaining understanding of others’ perspectives – helps us grow both intellectually and emotionally. In a world seemingly paralyzed by division and partisanship, it can be helpful to wonder about the experience of the “other.”
Be Curious, not judgmental
You may remember the scene from Ted Lasso in which Ted bests his nemesis, Rupert Mannion, in a darts match. Exemplifying the perils of being self-absorbed and uncurious, Rupert had failed to consider the possibility that Ted might be an outstanding darts player. In pointing out Rupert’s failure to think expansively, Ted extols the virtue of being curious, not judgmental. (He misattributes the phrase to Walt Whitman, but the incorrect citation has no bearing on the wisdom of the expression.) We would all benefit from doing more wondering and less assuming.
Bryan Stevenson, author of Just Mercy and founder of the Equal Justice Initiative, talks about the importance of “getting proximate.” It’s easy to be judgmental from afar, but it’s hard to be curious. By getting close to and engaging with people outside our “normal” circles who are willing to have civil, respectful dialogue – as difficult and uncomfortable as those conversations can sometimes be – we can better understand how someone else walks through the world. Curiosity breeds compassion.
The Future is Now.
Those who are longtime Dallasites know of the Jewish community’s rich tradition in South Dallas. There is an incredible organization, Forest Forward, which is leading transformation in South Dallas through restoration of a significant community hub in the neighborhood, the Forest Theater. This Theater is now the sole remaining piece of commercial real estate in South Dallas with Jewish history.
The Forest Theater was built in 1949 by Karl Hoblitzelle, the successful developer of the Majestic, Lakewood, and Inwood Theaters. The Forest Theater served as a gathering space for Jewish and African American neighbors, bringing incredible artists such as Tina Turner, Prince, Gladys Knight and B.B. King to perform and serving as a place of worship, celebration and convening for this diverse neighborhood. In the early 1950s, construction of US 175 began, causing the demolition of more than 1,300 homes, bifurcating neighborhoods. The previously predominately Jewish community was reshaped by redlining and segregated housing policies into a predominately African American community.
Over the past 50 years, the Theater has gone through several closures and uses. Repeated, unsuccessful efforts were made to rejuvenate the Forest Theater into an operating and sustaining venue. In 2017, the Forest Theater was acquired and gifted by a philanthropic couple committed to equity in the arts and education. A local nonprofit, Forest Forward, has obtained ownership and is ushering in a new era of arts and culture. The Forest Theater bridges the history of what was with innovative ideas of what could be – and will serve as an incubator for creativity across generations, geographies, ethnicities, and cultures.
DJCF, too, is dedicated to innovation and serves as a bridge between philanthropists and their charitable passions. We are proud of our work as a cross-generational conduit for generosity. Our two organizations came together in mid-May to elevate shared stories of South Dallas in an event featuring Rosie Stromberg and Willie Mae Coleman – two women who grew up in the same zip code: 75215. Rosie is a lifelong advocate for public education and leader in our Jewish community. Willie Mae is a tireless activist and leader for the African American community in South Dallas. Scott Murray, the discussion’s moderator, and Rabbi David Stern of Temple Emanu-El, elevated the dialogue to showcase our communities’ mutual understanding and respect for one another. Throughout this event’s coordination, my admiration and support for Elizabeth Wattley, the impressive CEO of Forest Forward, was even more solidified. We have grown and learned from each other, and I’m so confident that special things are ahead of our two organizations and the causes we support – as Elizabeth frequently says, “The future is here.”
Donate in May and Go Away
There’s a stock market adage, “Sell in May and go away,” suggesting that investors bail on stocks in the summer months, when returns tend to moderate, and reinvest in the fall (Investopedia). Savvy donors are choosing to gift their shares in public companies to charity as an efficient way to avoid taxes (legally). We are proud to be partnering with DonateStock, an innovative philanthropy-tech company that is revolutionizing the ease with which our fundholders can give stock to charity.
Steve Latham, CEO of DonateStock and Brent Sullivan, President of Tax Alpha, LLC wrote the following article, which I’m pleased to share with you:
| With the market hovering near all-time highs, millions of investors are eyeing their unrealized gains. If you own one of the many outperforming stocks (view the full list here!) you may be thinking about how to: Mitigate risk: as we’ve all learned, what goes up can go down quickly. Reduce concentration: too much of one stock can impact your entire portfolio. Minimize taxes: selling the stock will likely trigger a substantial tax on the gain. Basic strategy of stock gifting As you are likely aware, you can avoid long-term capital gains tax while maximizing tax deductions through charitable stock gifting. As a quick refresher, the example below shows how the tax savings can stack up. Let’s say you bought 10 shares of Nvidia in 2021 at $150 per share, or $1,500. At today’s price (near $900) you’d have an unrealized gain of $7,500 or 500%. If you sell the stock, you’d pay federal and state taxes on the gain. Depending on where you live, that can result in taxes of up to 36%. The good news is you can save a lot by donating stock held for more than one year. Based on the assumptions below, donating shares worth $9,000 could avoid $2,000 in capital gains tax and save $3,150 in income tax by itemizing the deduction. This adds up to $5,150 (4.3x the original investment) in value created by donating stock. Some make the costly mistake of selling stock and donating the after-tax proceeds. Per below, donating (vs. selling) the stock would save $2,700 in taxes while increasing proceeds to the recipient by $2,000. |
| Bonus Tip: How to keep even more of your gains Maybe you aren’t ready to part with your stock and would prefer to donate cash instead? Unbeknownst to most, here’s a clever way to extend the benefits of stock gifting to reduce taxes today and in the future. Simply donate the appreciated stock and repurchase the same number of shares with cash. As the Wash Sale rule doesn’t apply to stock gifts or capital gains, you can capture the tax savings above while stepping up the cost basis of your shares. This will reduce your future tax liability when you sell the stock. If you donate and repurchase the shares at $900 per share and sell at $1,500 at least one year from now, you could save another $2,000 in taxes simply by increasing your cost basis from $150 to $900. The savings are illustrated below: |
| To sum it up, stock gifting offers a unique opportunity to harvest gains, reduce concentration and avoid taxes (legally) today and in the future. Moreover, the nonprofit you support gets to keep the proceeds that would have otherwise been paid in taxes had you sold the stock. When you donate stock, everyone wins! While stock gifting used to be a painstaking experience, it’s now fast, safe and cost effective to donate stock – and you can give to your DAF at DJCF/SWCF through Donate Stock! Dallas Jewish Community Foundation (DJCF) | DonateStock Disclaimer: the author is not a financial advisor, and this article does not constitute financial advice. Please consult a tax professional before acting. |
Your Legacy. Our Jewish Future.
Our role at DJCF & SWCF is to amplify the incredible efforts of charity and the philanthropists who support this critical work to change our world. We do this through innovation, collaboration, and education, shining a light on family and community legacy.
On Tuesday, June 11, you’re invited to join me & Beri Schwitzer, Dallas Jewish Historical Society’s Executive Director, for a virtual conversation with brothers David Stanley and Ambassador Marc Stanley. This webinar will cover the Stanley family’s charitable legacy, especially the amazing work of David and Marc’s mother, Dr. Renee Stanley z”l; the passions they share across generations of giving; and how you can engage your loved ones in a discussion about sustaining a future for Jewish life in Dallas.
We recognize the importance of curiosity in our work to promote understanding, tolerance, and inclusivity in our communities. We will continue to have hard conversations and ask challenging questions – and I am deeply grateful to have you as a partner in this community- and compassion-building work.
Investment Reports & Fund Statements:
The Foundation’s investment portfolio is managed by Graystone Consulting, under the guidance of the Foundation Investment Committee. This relationship has allowed us to offer seven investment models for our constituents to choose from. Graystone provides monthly investment return information on the models as a whole and fact cards for the individual models and the sub-funds that make up each model.
DJCF’s investment performance reports are posted on the website through April. On our new website, these reports can be found on the Investment Reports page under ‘Tools + Resources’ tab on our menu toggle, found here: Investment Reports – Dallas Jewish Community Foundation (djcf.org)
April fundholder statements will be released in your My DJCF portal soon.
Thank you for entrusting us with your generosity and for being an integral part of our foundation. Your support fuels our work and inspires us every day. Wishing you a wonderful Memorial Day weekend.
