Virtual Endowment is a powerful technique to help Weizmann Institute supporters realize during their lifetime an important philanthropic goal that would otherwise not have been achieved until after their demise. For example, you can name a professorial chair or a major research fund, based simply on your intention to continue your annual gifts and remember Weizmann through your estate. Combining these basic philanthropic building blocks in a unified plan can dramatically magnify the impact of your support.
How it Works –Working with our gift planning staff, to create your professorial chair, for instance, there are three steps we would follow.
(1) First, you would make a commitment to provide outright annual gifts for life. The amount of your annual gift would be equivalent to the amount we would provide the Institute to support the chair on an annual basis. The assurance that you will provide these annual gifts for life means that your annual gift is the “virtual” equivalent of a fully-funded endowment.
(2) Second, you would also promise to provide a gift through your estate. The amount of your bequest commitment would be based on the current and future costs of sustaining a professorial chair. While this promise would be in the form of legally binding document, you would also include the same designation to make this gift in your estate planning documents.
(3) Finally, the third step is taken by Weizmann. In fulfillment of this agreement, Weizmann promises to name the incumbent of your chair during your lifetime, and also to use the principal ultimately received from your estate and other planned gifts you designate to sustain your chair. Future research papers published by your chair’s incumbent will acknowledge your support.
Recognition –Weizmann will recognize you immediately for your gift. With your family at your side, you will enjoy the satisfaction of knowing that your program and your values will live on. It will be a great day for you, and a great day for the Weizmann family.
For Information – Our gift planning office would be pleased to prepare a personalized plan and work with you and your advisors to help you achieve your philanthropic vision. All gift plans should be reviewed with your own advisors to ensure they fit with your overall financial and tax situation.
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