Sep 25, 2013
Give Your Child the Gift of Israel Without Breaking the Bank
A visit to Israel is a key stepping stone along the journey of Jewish identity-building, commitment and connection for youngsters. But for many families, a trip to Israel may seem financially beyond reach. That is why the Greater Miami Jewish Federation and participating synagogues established the Gift of Israel Savings Program, formerly known as Passport to Israel, in 1993. The Gift of Israel Savings Program enables Miami-Dade County families to begin saving early for their child’s Israel experience – and enjoy the benefit of matching-dollar grants from the community.
“There is perhaps nothing as impactful and transformative for Jewish teens and young adults than a trip to Israel,” Mikki Futernick, Israel Programs Committee Chairman, said. “The Gift of Israel helps to make this a reality for Miami teens and young adults who would otherwise miss out on such an important experience.”
Today, more than 400 children are enrolled in the program and have gone onto enjoy the benefits by participating in an Israel trip. After a child is enrolled, families make a contribution of $100 per year, for up to 10 years. Federation will match $100 annually, and participating synagogues will also match $100 annually. In addition, family members and friends can make contributions to each child’s account, a perfect Bar/Bat Mitzvah gift; however, additional contributions are not matched. Annual contributions are due by May 31 of each year. Click here for a list of participating synagogues.
When your child is ready to take his or her trip to Israel, you will have a sizable savings, including interest accrued, to help underwrite the cost. If a family has participated for the entire program (10 years) beginning in first grade, and belongs to a participating synagogue, they will have saved $3,000, plus accrued interest, toward the cost of an Israel program.
To be eligible to participate in the program, a child must be in grades 1 through 10, and a resident of Miami-Dade County. Enrollment can be completed throughout the year and there is a minimum enrollment period of three years before funds can be used. Savings can then be spent from the end of the eighth grade to age 26, toward the cost of an Israel program.
“The Gift of Israel Savings Program gives teens and young adults greater opportunities to take advantage of some of the remarkable Jewish educational programs available in Israel, such as a NFTY Summer Tour, NCSY, Alexander Muss High School in Israel, March of the Living, BBYO, USY, Yeshiva programs and MASA Long-Term Israel programs, to name a few,” Futernick said.
Savings program funds are also available for use toward Seminary programs, high school Israel trips, Hebraica School of Madrachim, Young Judaea Year Course and semester abroad programs. Funds cannot be used for participation on Taglit-Birthright Israel trips.
While funds may offset a significant portion of the cost of these programs, they won’t necessarily cover the entire amount. Closer to program start dates, a family can apply for additional scholarships for the selected program. Federation, congregations and national organizations may also offer additional assistance.
If a participating family leaves the congregation or the child decides not to take an Israel trip, the congregation and family will receive a full refund of all contributions. Accrued interest will be re-deposited in Federation’s Gift of Israel Savings Program account. Another option for families not using their accumulated fund is to donate monies to help a financially deserving child participate in an Israel program, and receive a tax deduction for their generosity.
The table below shows just how much you can accumulate before accrued interest. Additional contributions can also be made.
For more information on the Gift of Israel Savings Program, visit JewishMiami.org/IsraelExperiences, email [email protected] or call 786.866.8498.
