BOCA RATON, Fla., Sept. 30, 2020 /PRNewswire/ -- Today, the Jewish Future Pledge—a non-profit initiative that calls on Jewish donors to earmark at least 50% of the charitable giving in their estate plan to Jewish or Israel-related causes— announced a new collaboration with Morgan Stanley's charitable giving vehicle, Morgan Stanley GIFT, a donor advised fund, as part of the financial services company's faith-based giving and investing initiative.
According to a 2020 report by Giving USA, religious contributions make up the largest percentage of total charitable contributions in the U.S. – and Morgan Stanley has placed focus in recent years in supporting clients in translating their faith-based values into their charitable contributions and investments. Morgan Stanley GIFT and the Jewish Future Pledge ("The Pledge") plan to work together in educating clients and advisors about the opportunities to ensure that their values are reflected in their financial, estate, and charitable planning.
The Pledge—which was inspired in-part by Bill Gates' and Warren Buffett's "Giving Pledge"—was co-founded by philanthropist and business executive Michael Leven and entrepreneur Amy Holtz to ensure a vibrant Jewish future and inspire the next generation of Jews to give Jewishly.
"There is a historic opportunity to write the next chapter of the Jewish story. Jewish donors are estimated to transfer $1.26 trillion to charitable causes in the next 25 years, and Jewish Future Pledge hopes to direct half of that, or $630 billion, to Jewish causes. By acting now, we can ensure that more than $600 billion is set aside for Jewish causes as wealth is transferred from this generation to the next. We are thrilled to be working with a national leader like Morgan Stanley to advance our shared vision," said Leven.
By offering resources like the Jewish Values Tool Kit, Morgan Stanley has demonstrated its mission to support their clients' passion for faith-based giving and investing. The Tool Kit, which debuted last year, guides individuals, families, and nonprofit organizations through the process of integrating their Jewish values into their giving and investment decisions.
"People are thinking about faith-based giving in a different way," said Melanie Schnoll Begun, Head of Philanthropy Management at Morgan Stanley and President of Morgan Stanley GIFT. "Many of our clients are looking to their faith to determine what they will leave behind. The Jewish Future Pledge provides an evergreen framework for this moment, helping donors to make their vision of a better future a reality."
About the Jewish Future Pledge: The Jewish Future Pledge is a worldwide movement working to ensure that vibrant Jewish life continues for generations to come. It calls on all Jews to pledge that half or more of the charitable giving in their estate plan will support the Jewish people and/or the State of Israel.
About Morgan Stanley GIFT: Established in 2000, The Morgan Stanley Global Impact Funding Trust (Morgan Stanley GIFT) is an independent 501(c)(3) organization that aims to promote effective and efficient philanthropy. Morgan Stanley GIFT provides the Firm's clients access to a donor advised fund, supporting organizations, a variety of planned giving strategies, client events, and experiences. Led by a board of directors that includes seasoned professionals across industries, Morgan Stanley GIFT has granted out more than $2 billion through its donor advised fund platform to non-profit organizations since inception.
Morgan Stanley Smith Barney LLC ("Morgan Stanley"), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
While we believe that MS GIFT provides a valuable philanthropic opportunity, contributions to MS GIFT are not appropriate for everyone. Other forms of charitable giving may be more appropriate depending on a donor's specific situation. Of critical importance to any person considering making a donation to MS GIFT is the fact that any such donation is an irrevocable contribution. Although donors will have certain rights to make recommendations to MS GIFT as described in the Donor Circular & Disclosure Statement, contributions become the legal property of MS GIFT when donated. The Donor Circular & Disclosure Statement describes the risks, fees and expenses associated with establishing and maintaining an MS GIFT account. Read it carefully before contributing.
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SOURCE Jewish Future Pledge