WISH PRESS VoLLXXX
No. 19 Omaha, UE
9 Sifvat, 5761
February 2,2001
SPECIAL TAX AND FINANCIAL PLANNING ISSUE
Maccabi Games Kickoff eld at the JCC by TONY BOONE, Maccabi Assistant
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Highlights of the evening were the unveiling of After months of preplanning, the organizing stages of the 2002 Maccabi Games were in full the digital "Countdown to Maccabi' clock and the swing at the JCC last Thursday with the official viewing of the National JCC Maccabi Games video. JCC Maceabi Kickoff Dinner and Orientation. "The video was very heart-warming,"" Malashock Nearly 70 committee chairmen and JCC staff take a lot of man-hours, members met for the and being able to see the first time to discuss the end result makes it all beginning stages for seem worthwhile.5* planning the event. Among those in attendance were Jewish Fed"We are really excited eration President Forabout this," began Macrest Krutter and Honocabi Co-chairman rary Chairman Harley Marcia Pitlor, "and we Schrager. are thrilled to be a part of it; we're hoping you Sehrager will work see it the same way." with Tom Fellman, Howard Kooper and She and her co-ehair Aizenberg in an advisoJody Malashock have ry and fundraising role. been working for several "This is a wonderful experience for the kids," months with Maccabi Games Director Lisa Shkalnick and JCC Executive Director Jeffrey Schrager said. "Any time kids get to compete on a Aizenberg to select committee chairmen for the national level against other kids, it's fantastic. By 20th Anniversary Games to be held in Omaha, bringing in more than 1000 people, we'll be doing a good thing for the community of Omaha.** Aug. 4-9, 2002. More than 750 visiting athletes and their famiAll four were pleased with the response they received from their committee chairmen and JCC lies are expected to attend the JCC Maccabi Games in Omaha next year. The athletes will comstaff during the Maccabi Kickoff. "Everybody seemed very enthusiastic and ready pete in several team or individual sports daring to get started," Malashock said. "We really spent a their stay. They will also take part in a number of lot of time selecting our committee chairs. I'm other events, including opening and closing cere(Continued on page 7) thrilled that we had such a good turnout."
Kids1 Super SundayToBea "Jewish5 Odyssey by PfiM f4QNSKYtFecfefatkm CosronurBeaftoiTis Director
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M a r k S c h w a r t z p a i n t s t h e faee of Eric Fefaringer, while l i a d a Zimmerman works on h e r d a u g h t e r Kylee's face a t Kids 1 Super Sunday 2000. Eds' Super Sunday returns for its fourth year on Sunday, Feb. 4,12^0-2 pjfflu, at the Jewish Community Center. Children of all ages in Omaha's religious schools, Friedel Jewish Academy, the Fennie Z. Davis Child Development Center and E2dz Inn will bring their decorated tzedakah boxes filed with change to the event, where they will enjoy a "galaxy" of games, pizza and entertainment. There is no i i (Coniinaed on page 1)
Israel's Economy Takes a Hit from Four Months of Palestinian Violence by Carol Katzman, Special to the JEWISH PRESS from Israel >
The streets are quiet, the shops empty, some showing 'Going Out of Business' signs, some closing early. The talk on the streets revolves around Tuesday's election for Prime Minister. No one wants to predict the future. At Yad La Kashish, lifeline for the Old, director Nava Ein-Mor is not unaware of her artisans' feelings. "They're old, she explained, "but they're certainly not stupid. They come in, day after day, and turn out beautiful handmade Judaica. But they know there's no one coming here to buy." To help alleviate the situation at the non-profit sheltered workshop for the elderly, Ein-Mor rushed to put up the organization's website, located at www.lifeline.org.il, so that patrons outside of Israel can peruse the online catalog, place orders, or just send donations. Usually, mission groups stop at Lifeline, but with only four days in Israel (Monday morning through Thursday evening), there's not enough tune for participants in the bimonthly Solidarity Missions sponsored by United Jewish Communities. Two more of these short missions are scheduled for February and the highly subsidized price of $905 round trip from New York is still attracting Jews from across North America. B. Cohen's on King David Street is a favorite stop for Omahans. Federation Executive Director Jan Perelman and Partnership 2000 Chairman Zoe Eiekes stopped there last week to purchase mezuzzot for the newly remodeled Jewish Community Center. The Cohens, father and son, were so grateful for the purchase, they discounted prices. During the hour Perelman and Eiekes were in the shop, not one additional customer entered. The Sheraton Plaza and King Solomon hotels were filled to capacity last weekend, but only because the Orthodox Union, a Solidarity Mission
"This is our first trip here in four months," one couple said as they greeted Itzik Schapira, owner and jewelry designer at Turquoise on Yoel Solomon Street in Jerusalem. "In Tel Aviv, everyone is staying home." The economic toll on Israel is staggering. According to a recent article by Ora Cohen in Ha'Aretz, "A deep recession is on the horizon, given industrial output and local sales figures, which dropped to 1980s levels in Quarter Four 2000, coupled with the slowdown in construction and tourism, said Shuki Abramowitz of the the Manufacturers' Association. The data is based on a survey of 190 industrial plants, reviewing fourth quarter figures as well as forecasts for the first quarter, 2001. •"The security crisis is only partly to blame for the One of the many elderly artisans of Yad industry's dire straits, Abramowitz said. Another LaKashish, Lifeline for the Old, completes important factor is the ongoing erosion of export another challah cover. profitability, stemming from currency exchange from San Diego, and a Chabad wedding celebration rates and rising salary levels. Q4 figures reflect filled the two hotels. Even so, by Sunday night serious downsizing, which is expected to continue through Ql 2001." quiet once again descended over Jerusalem. The situation is compounded by a work stoppage Irit Rosenbaum reported in Ha'Aretz that "the figures show that current reservations point begun Sunday by the Mistadrut, Israel's labor toward an occupancy rate of 35 percent for the first union. Flights arriving at Ben Gurion airport were three months of the year, as opposed to an average (Continued on page 10) occupancy rate of 57 percent during the corresponding period last year. INSIDE; "Up until now, some 15,000 hotel workers have either been dismissed or made to take leave. If the 'Where Are They Now? features Melanie crisis continues for the first few months of 2001, it may lead to the complete collapse of the hotels and The People's Tax Act and other tax-related the dismissal of thousands more." ..starting on page 13 Is the downturn in the economy due solely to the stories,—.....,... conflict with the Palestinians? It certainly seems that way. Even Israelis living on the coast are hesi- UJC solicits funds for EL Salvador and India tant to come to Jerusalem. Earthquake Relief.-.^ ......page 24
Page 2
February 2, 2001
Jewish Press, Omaha, NE
God in an Unclean Land
BERNARD COHEN Services for Bernard Cohen were held Jan. 22. by Rabbi Myer S. Kripke ;—-«~-^^ He died Jan. 19 at the age of 78. Parashat Bo We are a full service Survivors include his wife, Mary; sons and community bank that offers Jews assume that God is approachable. One daughters-in-law, Bennie and Kathy Cohen and competitive mortgage rates. needs no mediator, and one may direct prayer Marc and Mary Cohen; daughter and son-in-law, straight to HimTHer. Prayer ta childfens''bonok~on Susan and' Michael Gieseler; and eight grandchil24 HOUR APPROVAL prayer has it) is a way of talking to God. He/She is dren. Trici-i Urban CALL TODAY! always there, ready to be talked to, waiting to lisMortgage Lender Memorials to the American Cancer Society of ten to us. NOBC. Scholarship Fund. 12801) West Cenler llaad On a group basis, there is something to be added. Omaha, NE 68144 (402)330-0200 -, _ _ . The group we are talking about, of course, is the IEKiw, DOROTHY BERNSTEIN ROGOFF 210 Regency Parkway , Z « . ^"""' Jewish people, the Children of Israel. Here the illuDorothy Bernstein Rogoff died Jan. 23 in Florida. Omaha, NE 88114 LENbEft minating and supporting myth has it that YHWH She was preceded in death by her husband, (402)392-0400 www.enterprisc e b a n k . c o m accompanies the Children of Israel wherever they Edwin; brothers, Dave and Richard Bernstein; and go. From place to place, from country to country go sister, Bess Raznick Katzman. the Children of Israel, wherever benign or cruel Survivors include nieces and nephews. winds of history carry them; from place to place, from country to country goes the accompanying ANITA WINTROUB 2 New Locations, 2 New Names. deity. Graveside services for Anita Wintroub were held All of this arises from the midrashic treatment of Jan. 30 at Mount Sinai Cemetery. She died Jan. 28 Previously the enslavement of the Children of Israel in at the age of 98. Contemporary Eyewear She was preceded in death by her husband, Mizraim. (Shm.R.) Would the presence of God folSame friendly staffs. low into the unclean land? It did! YHWH suffered William. Same quality eyewear. with the Children of Israel in Mizraim. The burSurvivors include children, Lois and Gerald dens of slavery, the shackles of bondage, as it were Bemstien, Leon and Sally Wintroub, all of Omaha, I -R Standing: S,indy, I'atiy Si Bimv (ki'veyakhol), were placed on the Lord Himself. and Estelle and Leonard Harris of Los Angeles; six So.ili'J: K.ittiy And it is She who liberated Herself, as well as the grandchildren; and eight great-grandchildren. Professionally fitted F I R S T EYE O P T I C A L Memorials to the Rose Blumkin Jewish Home. Children of Israel. He asks Aaron the Priest, the 392-0170 eyewear by Midrash continues, to purify Him, to lift the 8111 Dodge Street board certified opticians. uncleanness She has acquired in Mizraim.. Barak Trailing Badly in Polls It is no little thing to see this concept of God in rabbinic Judaism. The concept itself is almost playLarge selection of ful; yet it is'theologically serious. It posits that the designer frames. Children of Israel, the Jewish people, the House of Israel~and YHWH, the Lord are One, inseparable. I called this theologically serious because it is L-R Standing: Shelby, Kcnee Sealed: David usually taken for granted that God is wholly other. You're important, to us. Eyewear In the land of thinking that our midrashic comInnovations ment has led us to, God is present, a companion. Come see the difference! She allows close association. Indeed, He is associ697-3620 13923 Gold Circle ated with Israel even unbidden, whether or not Israel calls out to Him. She suffers with Israel even before Israel, in distress, calls out to Him for CLIP & SAVE help, All of this, to put it briefly, helps us to recognize that in Judaism the concept of God is flexible. It is FRIDAY, FEBRUARY 2 at home in weighty theological phraseology; or it is Scholar Weekend, Dr. Adolfo Roitman, at home in simple, homey language. One may go so aL Tomplo Israel Temple Israel Grade 8 Conclave, Friday far as to say that Israel's situation and Israel's Despite continuing bad showing in the opinion polls, together with the recurring rumor thru Sunday, out of the building views define the nature of God. that Shimon Peres will replace him as Ministers Institute, 10 a.m., at Temple C Tuesday's prime ministerial candidate, Ehud Kiddie Lunch & Learn, noon, at Beth El L I Barak manages to put a brave face on his P SATURDAY, FEBRUARY 3 public appearances. He has until today to Art Auction, 7 p.m., at Beth El withdraw his candidacy, Photo by ISRANET.
We're, on the move.
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SUNDAY, FEBRUARY 4 Kid^ Super Sunday, noon * Israel Experience Grants Program, 3 p.m.
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Kim Schwartz, SUPER SUNDAY volunteer. Please give generously when 1 call on February 18.
TUESDAY, FEBRUARY 6 . BBYO Night, 6 p.m. JPS Workshop "One Couple Two Faiths," 7 p.m. Friedel Jewish Academy Board Meeting, 7:30 p.m.
All events held at the JCC unless otherwise indicated. The Jewish Press Is not responsible for the accuracy of the events. To keep calendar accurate or for questions, calf Marlene Hert at 334-6437.
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MONDAY, FEBRUARY 5 YES Program, 9:30 a.m. Mid-Winter Akiba mini-mestor, 7:30 p.m., Beth El
WEDNESDAY, FEBRUARY 7 Visions Trip to Joslyn ALEF Class, 7 p.m., at Beth El Grade 7-12 Religious School, 6 p.m., at Temple L Mid-Winter Akiba rnini-mester, I 7:30 p.m., at Beth El P THURSDAY, FEBRUARY 8 Adult Education, 10 a.ml, at Temple S Jewish Women International Sweetheart Day, A 1:30 pan., at the Rose Blumkin Home V Adult B'nai Mitzvah Class, 7 p.m., at Temple Israel
Sisterhood Shabbat at Beth El
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Beth El Sisterhood will observe Sisterhood Shabbat on Saturday morning, Feb. 10. The service will start at 9:30 a.m. and be led entirely by the women of Beth El. The weekly Torah portion, Beshallach, tells the story of a monumental "passage" - the journey taken by the Israelites from Egypt through the Wilderness of Sin. A highlight of this portion is the reading of Miriam's triumphant Song at the Rod Sea. The Haftarah for Shabbat Beshallach describes the actions of the brave prophetess, Deborah, and of Yael, another fearless and cunning Jewish woman, Using Miriam, Devorah and Jael as role models, the women of Beth El have planned an inspiring service to which the entire community is invited. Kiddush will follow services. Among the women taking part in Sisterhood Shabbat are Lili Berkovits, Hanna DeBruin, Susie Drazen, Beth Dotan, Mary Fellman, Hollie Fineman, Pam Friedlancler, Sheryl Friedman, Gloria Goodman, Barbara Gottlieb-Ware, M'lee and Jessica Hasslinger, Esther Hellmati, Phyllis Hoffman, Dacia Jabenis, Helen Kay, Shirley Kirshenbaum, Carole Lainof, Cheryl Lerner, Karin Levine, Gale Levitan, Felicia Littky, Sally Masnek, Kim Novak, Annelise Ocanto, Dinah Raful, Amy Reynolds, Caryn Rifkin, Nancy Rips, Mimi Rogers, Paye Ruback, Lourdes Secola, Andee Scioli, Phyllis Silberstein, Lytux Sweet and Kathy Werner, M'Lee Hasslinger is coordinating the morning.
February 2, 2001
SYNAGOGUES
Jewish Press, Omaha, NE
Candlelight Ing
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5:24 p.m.
p|p^|^^ lftm FRIDAY: Tot Shabbat Service, 7 p.m. A short service of song and prayer, followed by cookies and juice, will be held for toddlers through children in the primary grades and their families. Come enjoy stories with Rabbi Debbie Stiel and songs with Patty Nogg; Shabbat Service, 8 p.m., Rabbi Aryeh Azriel and Cantor Jennifer Blum will officiate. Scholar-in-Residence Dr. Adolfo Roitman will speak on "Who Were the People Who Wrote the Dead Sea Scrolls?" The Oneg Shabbat will be sponsored by Michele Marsh and John Terry in honor of the B a t Mitzvah of their daughter, Caroline, and by the Women of Reform Judaism, SATURDAY:' Bagels and Bible, &30-10il5 a,m. Dr. Adolfo Roitman will speak on "The Scrolls and the Shrine: Past and Future." A video produced in cooperation with UNO will be shown; Services, 10&0 ajm. Carolines Terry, daughter of Michele Marsh and John Terry, will celebrate her Bat Mitzvah. SUNDAY: in the social hall, 10 ajm. T h e Orgins of Evil," Dr. Roitman will discuss this topic as it pertains to Second Century Judaism, the Bible and the Scrolls. SITTER SERVICE Available for Shabbat services Friday evening and Saturday morning, as well as Sunday mornings when there is Religious School. Please make reservations through the Temple office. Cost is $2 per family. There are no facilities for infants. ADULT EDUCATION TUKSDAY, FEK. «: Torali and Hnflnrah Trope, 11-11:46 pan. Cantor Jennifer Blum will teach the .skills of chanting; Hasidiam, 7-8:80 p.m. Prof. Guy Mntalon will focus on the major Uuuuo of IlaBidittm, the relationship between God and human beings, by focusing on various Hasidie texts. WEDNESDAY, F E B . 7; Mirirashah, 10 a.m.noon; Jewish Medical Ethics, 7-8;80 p , m . Dr. Howard Needelman, a Neonatologist and Head of the Ethics Committee at Children's Hospital, will lead this group through the basics of Jewish medical ethics followed by discussions on some of the current controversies in medicine; The Jewish Way in Death and Mourning, 6;3O-7s80 p . m . Rabbi Shlomo Levin will explore Jewish traditions and customs surrounding death, burial and mourning. THURSDAY, F e b . 8: Adult Study with Rabbi Aryeh Azriel, 10-11:30 a.m. Focus will be on the writings of the Scholars-in-Residence who will visit Temple this year; Adult B'nai Mitzvah, 7-9 p.m. FRIDAY, Feb. 0: "Who's Afraid of the Dead Sea Scrolls?" 10-11&0 IUSU Israeli archeologist and UNO Professor Dr. Rami Arav will talk about the content of Dead Sea Scrolls, the people who wrote them and the community where they were discovered. SHABBAT SHD3AH Evening Service, Friday, Feb. 9, 8 p.m. Join us for this special Sabbath of Song. Cantor Blum and the Kol Rina Choir, with conductor Will Wallace will participate with Julie Sandene on keyboard Jon Bleicher on baas, Dan Cerveny on keyboard, Tuffy Epstein on clarinet, Neater Hirschbaum on flute and Steve Thomas on percussion. Special recognition will be given to Julie Sandene on the occasion of her 10th anniversary at Temple. TORAHTOTS Torah Tots, classes for parents and toddlers (18 months-4 years), begins Friday* F e b . 9. Classes will still meet at Temple from 9 J S 0 « 1 1 : 1 5 a.m., Lynn Jensen will facilitate each session. For more information, call the Temple Office.
FRIDAY: Services, 7:80 p.m. Michael Linn of the Friedel Jewish Academy will speak on "Jewish Day Schools-can they provide a superior education product for our children?" Oneg and kiddush will follow.
Office hours: Monday through Thursday, 8:30 a.m.-4:30 p.m.; Fridays, 8:30 a.m.-2 p.m. Services conducted by Rabbi Howard Kutner. Weekday morning services are at 7 a.m, Sundays at 9 a.m. Call the office for evening service times, FRIDAY: Kabbalat Shabbat, 5:30 p.m. The West Minyan will be at the home of Howard Gendelman and Bonnie Bloch, 125 South 127 Plaza. SATURDAY: Shabbos services, 8:45 a.m., Kiddush sponsored by the Kolm family in commemoration of the yarlueit of Frieda Kolm. Insights into the Parsha class, 4:45 p.m.,; Mincha, 5:15 p.m,; Havdalah, 6:26 p.m. TUESDAY; Sisterhood Board Meeting, 10 'tun,, Talmud Class with Rabbi Kutner immediately following Ma'ariv, about 7 p.m. DR. NOAM TZION Dr. Noam Tzion will speak at Bath Israel on Saturday, Feb. 10, at a luncheon following services. Dr. Tzion will be at Beth Israel as part of a Community Kalian Weekend sponsored by JELS,
f tin* UtiHwl Synagogue
Services conducted by Rabbi Stanley M, bnuin. Minyan on Monday A Thursday, 7:15 a.m, FRIDAY: Services, 8 p.m. SATURDAY: Services, 0:80 a.m.
Office Hours: Monday through Thursday, 9 a.m.5 p.m.; Friday, 5) a.m.-4 p.m. Services are conducted by Rabbi Paul Drazen and Cantors Einil Berkovits and G. Michael Horwitz. FRIDAY: Services, 6 p.m. SATURDAY; Services, 9:30 a.m., Kiddush following; Free sitter service, 10 a.m,;'TSS (Torah and Siddur Skills) Program, 10 a,m.; K'tautan (K-S grade), 10:45 a.m,; Shabbat Story Time (pre-K and younger), 11 aon.; Miahnah study session, 5 p.m.; Minha-Ma'ariv and Havdalah, 5:80 p.m.; Art Auctiom Art preview and reception, 7 pan. Auction starts at 8 p.tn.; Second Chance Sale, Sunday, Feb. 4,10 a.m.*l p.m, SUNDAY: Services, 9 *um.j Perek Yonii, 10:15 a*m. WEKKDAYSt.Services.at 6«55 a . m . and 5:30 p.m. ^" . ^ WEDNESDAY, F e b . 7, Adult B'nai Mitzvah class, 7:30 p.m. KADIMABtNNUS Feb. 9-ll~Beth El's 8th grade "Kadimaniks" travel to the T^ake Doniphan Conference Center, Excelsior Springs, MO, for USY'K Kadima Kinnus. SISTERHOOD SIUBliAT Saturday, Feb. 10, see article on page 2. KIDS LUNCH AND LEARN Su»day, Feb. 11, noon. Toddler K kids will celebrate Tu R'Shevat with a Hpwial edible planting project. Lunch available by adviuice reservation. For more information, cull Belli Ki at 492-8550.
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Services conducted by Rabbi Mendel Katwnnn, MONDAY-FRIDAY; services, 7 a.m. SATURDAYS services, 9:30 a»m. MONDAY: Genesis Lunch Series, 1 Is45 ajn.-l punt. TUESDAY: A Tale of Two Souls, 930 ajm.ll p.nu
FRIDAY! Kabbalat Shabbat, 7:30 p.m. SUNDAY and TUESDAY: Religious School at the JCC. FRIDAY, Feb. 9: Tot Shabbat, 7:30 p.m. SATURDAY, Feb. 10: Tu B'Shovat Seder, dairyvegetarian potluck dinner and havdalah at the synagogue, 5 p.m.
pmulift« : ^^ FRIDAY: Service^ 7:30 p.m.
SATURDAY: Services, 9 a.m., led by Andrew Greenberg. Services a r e held in the Hi'rbert Goklsten Chapel, followed by Kiddush.
Services officiated by Cantor Michael FRIDAY: Sabbath Eve service, 7:45 p.m. . SATURDAY: Torah Study, 10 a.m.-noon SUNDAY: Hebrew School, 0 a.m., KelifT>oun School, 10 a.m. MONDAY? Adult Hebrew Study/Movies, 7 p,m. TUESDAY; Intro to Judaism, 7:30 p.«». WEDNEBDAY; AA Meeting in tho library,
JCaehary David Muslun, son of Mary-Beth and Bruce Muskin, will celebrate Ida Bar Mitzvah on Saturday, Feb. 10, at Twnple Israel. A .seventh grade honor student, at lW'veridge Middle .School, he enjoys baseball, basketball, golf, tennis and saxophone, fie plays on the seventh {.frade JCC baskotball Lttam, the Expruss Haskotball team, and the Spikes Baseball team. He was selected to participate in the Jazz Band at Bevaridgf1. Zuch was? also chosen as a participant in the Duke Talent Search Program. For hia Mitzvah project, he raitu'd money in support of Juvonilo DiabeteH research. Zaoh has two siHters, Anne and Emily. Grandparents are Bettie and Ktuart Muakin and Art and Ht»tBy Davidstna. infcht-Into l,<iua fJrciHsm.in.
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Jewish Press, Omaha, NE
February 2, 2001
investing in the Jewish World It's no secret that most businesses fail because of undercapitalization. Of course, there are other factors, but the primary reason is that not enough money was invested in the project up front. It's no different in the Jewish world of non-profits. In order to succeed, new startups-projects, programs and organizations --need to be funded at a level so that the mission and goals can be fulfilled. Melanie Sturm certainly recognizes that necessity. She grafted a tested method in the venture capital world onto the Jewish world-raising funds, creating awareness among her peers, calling for proposals, investigating projects and programs and funding those worthy of success. The story of how this former Omahan is making an investment in her heritage can be found on page 6 in this special issue on Tax and Financial Planning. Another story highlighting economic development is the page 1 story on Omaha's Partnership 2000. This northwest corner of Israel is ripe for development. Now quiet, since the pullout of
by TEDDY WEINBERGER
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Israeli troops from Lebanon, the Western Galilee offers the scenic beauty of the Mediterranean, a diverse workforce and kibbutzim and moshavim looking for investment partners. The latest development on this front includes a proposal by the Economic Subcommittee, headed by American Lior Yarom and Israeli Rami Raz, to pull in American companies from the Central Region of P2K for both investment and manufacturing opportunities in the Western Galilee. Yarom and Raz are already working with an Israeli manufacturer of silk shirts for distribution possibilities in the U.S. The Jewish community can't rely on the old methods of doing business. New partnerships, as well as thinking 'out of the box,' are called for in today's marketplace, where Jewish projects and programs must compete for attention. Let's use the business acumen and creativity of the members of our own Jewish community to protect our assets today while building a future for our children.
National Naw«pap or Association
FoR
lirf Eii by HARRY ALLEN
Was it worth it? On the one hand, the price of aluminum foil hardly effects my life-style or the chances of my aliyah's success. On the other hand, the aluminum foil and the other American goods I shipped here represented a flavor of home — which is especially important at the start of a new life in a foreign country. Americans are one of the few groups in Israel who have come solely because of the pull rather than the push factor: that is, solely because they felt called to live in Israel and not because they were fleeing their experience of being a persecuted minority in their home country. In many ways, the life we led in America was fruitful, stimulating and satisfying, and those familiar American name-brands remind us of all the good that is America. Today, in most cases, I obtain American goods at local stores: Heinz ketchup, French's mustard, Pringles potato chips, Grape Nuts cereal, and Crest toothpaste are examples of American imports available in Israel. Of course, there are certain very specific items that Israel does not import: Chex cereal, A&W root beer, Pepto Bismol, Trident gum, real bleach (of any brand). When. I receive a care package of these items (though I haven't been able to persuade anyone to shlep bleach to me here), it's more about a taste from my previous life and home than it is about saving money. The shopping list I send my parents and in-laws in anticipation of their visits has been getting shorter and shorter over the years. While Chex cereal may speak to me of my life in America, a roll of aluminum foil hardly does. Thankfully, we have made it here in Israel to see the completion of our stash of aluminum foil. I am happy to say that when I finish with this roll, we will be financially ready to purchase our first Israeli roll of aluminum foil. Of course, judging from what is available on Israeli supermarket shelves, there is an excellent chance that it will be good old Reynolds.
™* JEWISH pRESS Nebraska Prase Association
...THAKJ l-r
The Last RoIS of Aluminum Foal
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Before making ally ah, people often go on huge buying sprees, purchasing goods that are much cheaper in America than they are in Israel. These purchases range from large-ticket items like washers and dryers (especially since new immigrants are released from import taxes), to basic household supplies like paper napkins and tissues. Some people seem to view it as a goal to go through a significant portion of their new immigrant life without buying a single household item. An acquaintance of ours was incredibly bummed out when she realized, to her horror, that only three months into her aliyah, she had run out of bottle-liners for her baby's bottles and had to go out and purchase some here. While normally it would not make economic sense for an individual to ship a roll of toilet paper to Israel, when you make aliyah you purchase the space of a large shipping container, and you are charged by volume and not by weight. Thus, new olim rise to the challenge of stuffing every nook and cranny of their container with goods. Unfortunately, we only realized the difference between being charged by volume and weight on the day the movers came. Because every single item of furniture in an overseas move is wrapped up, you are often left with a lot of dead space-in bookcases, for example. When the movers asked, "Hey, aren't you going to use this space?", we ran like mad to our neatlypacked boxes of clothes and stuffed what we could, although we were too late for a bookcase or two. If we ever make aliyah again, well know what to do. It, therefore, happened in the spring of 1997, I bought a large supply of aluminum foil (about a dozen big rolls)-enough as it turned out to last me until now, three years and seven months after our aliyah date. It's hard to say exactly what I saved on aluminum foil. I know that today a 200-sq,-ft, roll of aluminum foil is about $4.50 in the States and about $9 here.
OPTiMIStiC.
(Founded in 1920)
The role of the Jewish Federation of Omaha is to involve Jews in meeting Jewish communal needs locally, nationally and in Israel. Centers of Excellence of the Federation are: Community Relations, Jewish Community Center, Jewish Educational and Library Services, Jewish Family Service, Jewish Senior Services, The Jewish Press is a Constitutional Committee of the Jewish Federation of Omaha. Deadline for copy, ads and photos is: Thursday, noon, eight days prior to publication. The Jewish Press (USPS 275620) is published weekly on Friday for $28 per calendar year U.S.; $32 foreign, by the Jewish Federation of Omaha. Phone; 402-334-6-148; FAX: 402-334-5422; e-mail editorial material, photos and address changes to: ckatmmn@jewishomaha.org; send ads (in ,TJF or .PDF format) to: mlapour@jewishomaha.org. Periodical postage paid at Omaha, NE. POSTMASTER: Send address changes to: The Jewish Press, 333 So. 132nd St., Omaha, NE 68154-2198.
Lloyd Roitstein Chairman ' Carol Katzman Editor-in-Chiei Maureen LaPour Managing Editor Larry Axelrod Advertising Manager Allan Hnndleman Account Executive Barbara Frankel Rocky Stern Sales representatives Marilyn Burns Bookkeeper Jen Gates Production Assistant George Schapiro Volunteer
By nature, I tend to be an optimistic person. I remember that it was 56 years ago on this date (Jan. 25) that I returned to the United States after flying 51 combat missions with the 15th Air Force. For those of us who survived the war whole in body and spirit and mind, optimism comes naturally. But these days in Israel, optimism is in short supply. It has been replaced in the minds of many Israelis by a deep pessimism, a sense of confusion, a lack of direction-even anger at the course events have taken. Who could not be enraged over the collapse of the peace process and its replacement by the cruelty and inhumanity of* our Palestinian partners. The destruction of Joseph's tomb, the brutal execution of the two Israeli soldiers in Ramallah, the story in recent days of the two Israeli business men who went to Tulkarm to stupidly buy materials for their restaurant and were dragged from a coffee shop and murdered—have changed the outlook of most Israelis, even those on the left who inhabit the bistros of Tel Aviv. Add to this the high probability that Ariel Sharon will wind up as Prime' Minister, one can understand the pessimism. The question on everyone's mind is, "How can we trust the Palestinians?" And yet, is there any alternative? The proposals of Sharon are so unrealistic that any thinking person (and the number of such folk is shrinking) must dismiss them out of hand. But what of the Clinton parameters? Can we really be expected to internationalize the Temple Mount, to cede parts of Jerusalem to some sort of shared rule. Condominiums for territory rarely work. Are there really alternatives that offer more hope? These kinds of questions hang heavy in the Israeli air. There is no enthusiasm for either candidate. As for me, despite the uncertainties that bedevil us, optimism and faith atill must be the operative mindset. We, in this country, have survived some rough times-the War of Independence, the terrible economic situations, the Yom Kippur War, the blood letting in Lebanon—to name a few. None of these have slowed the onward development of this sliver of a country and I remain convinced that, the prcsonl cloud of difficulty will somehow be worked through. But it will not be easy and wo will need the strong support of our fellow Jews the world over.
JEWISH PRESS COMMITTEE Fred Ticha.uor, Vice-Chairman; Joanio Jacobson, Secretary; Howard Silber, Treasurer; Elyco Atsriel; Jill Belmont; Jean Duitch; Penny Endelman; Kip Gorchnan; Gary Kudym; Howard K. Marcua; Linda Saltemun; Stove, Simon; Amee ZeUman; George Schapiro (Honorary . Committee Member). Editorials express the, viaw of the writer and are not necessarily representative of the views of the »J«wish l*r«s« Committee, the Jewish Federation of Omaha or the Oinuha Jewish Community as a whole. The Jewish Prestj roservefl the right to edit letters and articles tor space and content. The Jewish Press is not responsible for the Kaskruth of any product or establishment.
February 2,2001
Jewish Press, Omaha, NE
Page 5
iiliiiilliliiliiil Israel Seeks Domestic Source of Power to Replace Oil by CARL. At.PERT - - « - - - « - — - « - - — — .
Haifa—There is no doubt that the on family electric bills. Similar sysreliance of the western world on Arab tems and solar pools can be and are states as a major source of the energy being used on an industrial scale. fuel which keeps the wheels of our What is required is a major new civilization spinning, plays an enor- breakthrough, utilizing a raw material mous role in coloring and dictating which is freely available. A team of scithe political relations with those entists led by Prof. Stuart Licht at the states. If science could provide an Technion, Israel's Institute of Technolalternate source of energy, economi- ogy, may be on that track. The procally competitive to the oil which posed source of energy is hydrogen, the nature has bestowed so abundantly major component of water, on Arab lands, world diplomacy The burning of hydrogen can effiwould be affected. ciently produce energy and is already There is perhaps no country which is in use in the space program. How can so vulnerable from this concentration of the hydrogen be released economicalenergy power in the hands of the ly from water? The Technion team Middle Eastern Moslem world, as has been working on an original sysIsrael. In the event of a unified Moslem tem which uses solar power to split action against Israel, an oil embargo water into hydrogen and oxygen, would be devastating in its effect, releasing the former for use as a fuel. What the world needs is discovery Theories developed on paper have of another source of energy, competi- now been confirmed in laboratory tive in availability and cost. Should, experimental research. such be found the Arabs would lose Is sea water suitable for this prothe political clout they enjoy today on cess, I asked Prof. Licht. The answer the international scene. was unhesitatingly in the affirmative, Other sources of energy are indeed thus answering the first question as known to science, and in many enfica to availability. are already bohiff applied, hut they Another advantage of hydrogen an a arc; expensive. When the coat of oil fuel is the fact that its exploitation does rises to $30 and more a barrel, there not contaminate the atmosphere. The is renewed concentration on tho oidy emission when producing boat or search for a substitute. Hut. then, tho electrical onorgy m clean water. Arab oil lords bring tho price down, Elsewhere in the world plans arc tho emergency is over, and afoot, to utilize hydrogen fuel to opermeats hesitate to expend the ate cars, awaiting only a cheap source sums required for continued, intmi- of the hydrogen. According to the sivc research. TuehnJon scientists, th< ir method can Quo would ojtpool that :IM a result prodwv fin to 100 l.inicti more hydro of Israel's utter dependence on Fos- gen fuel than any previous theory or sil l'ui'1, oil and HUK, it- would bo in experiment, While the hulk of the the forefront of thn search. Work is theory and experimentation work has indeed beinfj done in this field at, been conducted in Haifa, there lias various hiHtitutioiiH here, but boon collaboration with Huionti.sls in apparently not enough. 'There has Japan and (Jennany. been eueouniKinj* research on shale It certainly Hounds promising: split, rock as a source of oil, 'Windmill water and get a cheap Hnurco of enerfarms have been productively estab- gy. All uyutt will be on Uaif;i, lished on the. Golan Heights, and A less possimiatic view of t lit" world plants have been approved for two situation in expressed by Tedmion\s additional farms, one at Mount Prof, Daniel Cmmanski. He notes that Gilboa and the other at Bet; Shean. the world energy market does not disIt has been estimated that up to , tinguish between customers because of 15% of Israel's power needs could be political orientation, obtained from wind source. Once the oil is put in tankers, it Exploitation of organic wastes, can, and often does, change destinawhich are today thrown into garbage tion many times. Even today, much of dumps, could produce another 5%~ Israel's oil cointss from Egypt and even from Iraq. and every percentage point counts. Solar energy is a promising1 source. Nevertheless, Israel would feel Visitors here have been impressed by much more secure and comfortable if the tens of thousands of solar hot it could produce its own energy eeo~ water heaters on rooftops of homes nornically, and not have to rely on forthroughout the country, cutting down eign sources.
New House International Ctiafrman Better Known for his Domestic Policy by SHARON S A M B E R • — . - - « - - - - - - - - »
WASHINGTON (JTA)--A veteran representative not known for his expertise on the Middle East will head the House of Representatives' International Relations Committee. Rep. Henry Hyde (K-IL.), whose domestic priorities have run up against a number of Jewish groups, will hold the chairmanship of a committee that is always closely watched by Jewish organizations. (Editor's note: Nehraakana had hoped Doug Bfjumutur, Republican from the Firat Congressional District, would get the top ttpot. llydt: had to step down from his position as head of the liounu Justice Committee.) But while Hyde may not be an
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expert on Israel issues, hie voting record on aid to the Jewish state is strong. Plus, he supported funding for the 1998 Israeli-Palestinian peace accord at the Wye Plantation. In 1992, Hyde urged President Bush not to use loan guarantees to pressure Israel against building new settlements in the West Bank and Gaza StripIn 1995, lie voted to move the U.S. Embassy to Jerusalem. However, a waiver in that law allowed President Clinton to postpone the move, In the past year, ho voted to penalize tho Palestinian Authority if it unilaterally declared a state and' blamed ih& Palestinians for the recent violence.
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Page 6
Jewish Press, Omaha, NE
February % 2001
Investing in her Heritage by CAROL KATZMAN
In November, more than 100 volunteers were honored as young leaders by the United Jewish Communities at its annual General Assembly, many for chairing major events or projects in their hometowns. But one young leader took an innovative idea in funding charitable projects to a whole new level. Using the concept of stock offering and predicated on the idea that philanthropic investments should realize "social return" just as financial investments should realize a financial return, former Omahan Melanie Sturm set out to convince 25 young Jewish professionals to commit $10,000 each to create The Jewish Venture Philanthropy Fund (JVPF). It was such a novel idea, that the initial offering was oversubscribed with 35 signing up, all in the 30-50-year-old age range. (One was so excited, he gave $20,000!) With $360,000 in hand, the partners proceeded to establish their areas of interest in the Jewish community, the criteria for granting the funds, and ultimately, the beneficiaries of the grants. They investigated projects, and narrowed the field from 164 to 12 to afinalsix. After the group paid the Jewish Federation of Greater Washington a management fee and set aside funds to do an evaluation of the process, the partners had $300,000 left. At the Partners' meeting to decide the ultimate allocation of the $300,000, they were so enthusiastic about the six final projects, they voluntarily committed to raise another $100,000 to actually fund all of them! The group is now in their second round of funding and have expanded to 10 more people from the Washington, D.C., Northern Virginia and Maryland area. She's now helping launch the same concept in Denver, where 32 participants have expressed interest. While the concept is radically different from the traditional methods of non-profit allocations (and in fact, met some resistance initially), it was no surprise that Sturm initiated it. A 1980 Westside High School graduate, Sturm left Omaha for Tufts University in Medford, MA. Armed with a background in finance and management, she graduated and went to work in mergers and acquisitions in New York for Drexel Burnham Lambert and then in London for Morgan Stanley. She added an MBA from IN8EAD, the European Institute for Business. Upon graduating, she moved back to the States to work for the International Finance Corporation, the private-sector affiliate of the World Bank, where she was an investment officer in the Latin American and Oil and Gas Departments until 1996. Since then, she's been a private equity investor in the communications and health care industries and now resides in Aspen, CO. But it wasn't just a list of degrees and professional experience Sturm had to offer. Her family has
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Melanie Sturm, second from right, shares a moment with her family at the G.A,'s Young L e a d e r s h i p a w a r d s luncheon: former Omahan Bon Wolfson (Co-founder of Synagogue 2000 and Vice-president of the University of Judaism in Los Angeles), right, and his parents Alan and Bernice Wolfson of Omaha. The Wolfson's daughter-in-law, Sibby, is a first cousin to Melanie. had a long history of business know-how and community involvement. Now living in LaJolla, CA, her mother, Mickey Sturm, who Melanie describes as a "major driving force" in her life, chaired both Women's Campaign, and the huge Danzig Exhibit here, which featured artifacts, photos, lectures, tours and films from prewar Poland, Melanie's father, Don Sturm, was Vice-chairman of Peter Kiewit and Sons in Omaha, He now lives in Denver, CO, and is a private equity investor with interests in banking, real estate and communications and health care, and has become involved with several charitable projects there. He has already committed $250,000 toward his daughter's newest project in Denver by matching its first 25 partners (the fund has grown to 32). Sturm's brother, Bob, is a supporter of the ADL in Denver and has funded the ADL Holocaust Resource Center here in Omaha. So Melanie Sturm was no stranger, either to the business world or involvement in the community when she lived in the nation's capital. "I got a call, out of the blue, from someone recruiting for the Hazak Mission to Israel (for young leaders)," Sturm recalled. "But my grandmother (Don's mother) was sick, so my first response was'no.'" This grandmother, however, was one of only eight children who left Eastern Europe for America. One brother, however, did make it out in 1939 and settled in Palestine. All of a sudden, the mission to Israel seemed to make sense to Sturm. "I realized I could visit this part of the family and take photos back to show my grandmother," Sturm said.
Even though her grandmother died Labor Day, 1992, and never saw the photos of the family in Israel, Sturm decided to go anyway. "I had an epiphany," she stated simply. And^that recognition of her place in the Jewish community changed everything. Becoming involved in the Washington, D.C. Heritage Project (modeled after the Wexner Scholars program), learning with rabbinic scholars like Irwin Kula and David Elcott, she "began to appreciate my Jewish heritage" and realized "I was lucky enough to inherit all this." Sturm's involvement in the D.C. Jewish community led her to national leadership roles, including the UJC Young Leadership Cabinet. Last year, she chaired Jewish Leadership Forum meeting in Aspen, CO (formerly Leadership 2000). She.was also just named to the board of UJC's Trust for Jewish Philanthropy as its youngest member. In addition to her UJC involvement, Sturm is on the National Board of Synagogue 2000. Sturm still has a commitment to the concept of the Jewish Venture Philanthropy Fund. And now, cities like Denver and New York are coming to Sturm for help in establishing their own funds. ''While Jewish federations are set up for sustainable giving," she explained, "that is, the giving needed to fund, on-going projects and nonprofit agencies, new, innovative and perhaps riskier projects often can't compete for dollars within the federation's allocations structure. "The JVPF seeks to involve young Jewish architects of change in Jewish philanthropy not just with their dollars, but with their time, talent, creativity, business acumen and entrepreneurism," she explained, "By tapping into this formidable brain (as well as financial) trust in the Jewish community, the possibilities for dramatic impact are limitless!" Sturm has become so successful with this model that even the naysayers within her own federation give her credit for expanding the poolof donors, "I've discovered that in the process of helping others, people find their passion," Sturm added. "My generation is interested in contributing more than just money," By the way, that first trip to Israel did bring her into contact with her father's family there. They held a reunion last summer with Rabbi Kula as their 'guide.' More than 55 people gathered to reminisce and look at lOCKyear-old photos. "Whether they were English or Hebrew speakers, there was definitely the same nose running around that night," Sturm said with a smile. "But what I felt more than anything, was not only enormous fortune at having evaded the fate that our Eastern European family met, but a huge debt to them for having so joyously celebrated the very Jewish heritage I had taken for granted. "Now I aim to live out that amazing Jewish heritage in a meaningful way."
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February % 2001
Maccabi Games
Kids" Super Sunday
(Continued from page 1) — -
(Continued from p a g e 1) • » < dollar amount required for entry. Kids' Super Sunday 2001: A Jewish Odyssey will feature "The Amazing Arthur" at 12:45 p.m., followed by storytelling by Nancy Rips at 1:15 p.m. The free "spaeemeal" includes Zio's Pizza, chips, cookies and juice, and will be available on a firstcome, first-served basis. Kids eat free; a $1 donation is requested for adults who wish to eat. Other activities include the Moon Walk, Galaxy Golf, Spacey Spin Art, Plut-o Plink-o, Spacial Facial Painting, Satellite Space Videos, Global Bean Bag Toss and Cosmic Bowling. Members of Omaha's BBYO will volunteer as" "High-Tech" Game Managers for the event, Kim and Mark Schwartz are the chairpeople for the event and for Super Sunday 2001: A Jewish. Odyssey. The 2001 Super Sunday committee mem • bers are Gil Cohen, Victor Epstein, Stephen and Patty Goldstein and Dan and Deb Marburg. For more information, please contact me at 3346431, or e-mail pmonsky@jewishomaha.org.
monies, a Day of Caring and Sharing, and two evening programs-one at the Henry Doorly Zoo and one at Pun Plex. Shkolnick said the organizational process will take plenty of time and hard work. "We needed three elements in order to commit to hosting the JCC Maccubi Games," she said. "The •'/ "'.• ; . first is good timing—do '• ,.;."• ; we have the facilities " ' "• .',' •'• and the time to prepare; . •• ' •/'.... i, .'• .'' the second is dedicated .-•_ . *' and professional staff— '• .-• • do we have the right people to take on the additional roles of Maccabi : .•; and keep our overall proLisa Shkolnick gram running smoothly, "And finally, do we have the leadership within this community to do this? The answer is an emphatic yes to all, and that's why you are all here, because you're the best." Aizenberg agreed. "I can't thank everyone enough for their support," he said. "We don't just want to do this program. We want to do it at the absolute highest level. We need to see how many people and how many organizations we can get involved to make this an overall community project." Countdown to 4CCM;K;cabJO;smfis 2002
'^tfi^ii^li^S^^tS All JCC Maccabi chairmen will begin selecting ,.committee members immediately. "Volunteers and hostfunuUos for the GmufiH am, also being Bought. The "Olympic-style" rTCO Maccabi Guinea are for Jewish athletes ages 13-1(5 and, us a lioat city, the privilege to participate will allow 12-yonr-old athletes to compete for individual competition. With much preparation yot to do, it in goinft to tukfl the creativity ,ai»d lujl tuipjwt of LUo I'utire community. If you would like l,o learn liow U> become1 involved in the Omaha 2002 JCC Maccabi (JUIHOH, ploaso contact mo at t"i'M-fl504, or by e-imul at: tboonc^y cwishomaha.org.
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Jewish Press, Omaha, NE
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In Omaha
Maury Udesto be Inducted into Business Hall of Fame by J E W I S H P R E S S N e w s Service» •-• ^ ^ - — Five. outHtunding Omaha business leaders, including Maury Odes, will be inducted into tlu» Omuhti Chamber of Commerce Business Hall of Fame on April 11. Founder of Builders Supply Company, Inc., tides will be honored at a dinner at the Holiday Inn Convention.penter, along with Perry E. "Bill" Esping, founder of First Data Resources; John Gottschalk, Chairman and President of the Omaha World-Herald; Wayne L, Ryan, PhD, Chairman and CEO of Slroek Laboratories; and John A. Wiebo, Chuiruum of Wicbe Kntorprisos. Starting ufl a manufacturer's representative in 1940, TJdos built JI lumber and building supply buHint»88 into one of tho largOHt single-locution lumber yards in t.ho. cmmf,ry. Horn in Pino Bluff, Alt, h<> j;r:ul»iuU>cl l'roni ljiinlu<i Univi'rnil.y with an JSleetrieaJ Enginearitig degree andf speak the uext tbroo. years in tho Army in liuropo. lidos .sl.itrtcd Buildoi'H Supply iu 1951; after so.voral oxpaiiHionK, the company moved to th<> 35-acre site il »t-ill occupioH today. Now retired, he eHtahHshed one of tho first Employee Stock Ownership Plans. Today, Builders Supply is totally owned by its more than 220 employees. Tickets are $126 each; patron tables of eight are $2000. For information about the event or reservations, contact Christian Burk at 346-5000,
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February 2, 2001
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Members will meet Monday at the JCC. Come exercise with Stacey Paskert, Personal Trainer, at 10:30 a.m. Or try your luck at Bingo at 10:15. Bring articles to share for the TES Talk" discussion group at 11. Following lunch at noon, join us for the Winter Park with musical guests Maxine Noodell and Esther Wax. For transportation, call 330-4272. Attention Y.E.S. & Oldtimers members. Membership dues for the year 2001 are now due. Please mail your check "payable to Y.E.S., in the amount of $4 per person, to Frieda Krizelman, 331 S. 93rd Ave., Omaha, NE 68114. WALK-IN, DROP-IN Members will meet Thursday at the JCC. Exercise starts at 10 a.m. For those going on the Bunch to Lunch trip to Burnsy's, please meet at 11 a-m. at the JCC front entrance. VISIONS Reminder: See "France on a few Francs-From the Sun King to the Royal Twilight" at the Joslyn Art Museum on Wednesday, Feb. 7. Join us for lunch at 11:30 aon. at Joslyn's Le Cafe Durham (on your own), and tour the exhibit with docent at 1 p-m. BTSTAI B'RITH BREADBREAKERS Bruce Rasmussen, Athletic Director at Creighfcon, will speak at B'nai B'rith Breadbreakers on Wednesday, according to Al Abramson. Breadbreakers meets every Wednesday at noon. at, the Park Inn Regency (formerly the Regency West Best Western) at 107th and Pacific St. The program is open to the community. Cost for lunch is $9; for beverage service only, $2. OTC3L SATURDAY, FEB. 3, 4 pan. Rabbi Levin hosts a class on the weekly Torah portion at his home, 2001 N. 56th. MONDAY, FEB 5, noon-l p.m., Lunch 'n Learn "Not Only for Lawyers at Marks Clare and Richards, 11605 Miracle Hills Drive." The topic will be "Can you sue your Rabbi-Clergy malpractice in Jewish Law." Lunch available for a nominal fee, please RSVP. TUESDAY, FEB. 6, 7 p.m., Beit Midrash with Chabad. WEDNESDAY, FEB. 7, noon-1 p.m., Lunch 'n Learn. The topic will be "Kavanlh-What are you supposed to think about in prayer?" Light refreshments served, please bring a lunch. THURSDAY, FEB, 8, 10 a.m., Torah Time for Tots hosted by Hadas Orbach at her home. Call 697-5531 for more information; Talmud, Tractate Shabbat, hosted by Bob and Myra Oberman, 710 J.E. George Blvd., 7 p.m. FRIDAY, FEB. 9, 6:30 p.na. Remember to make reservations for Shabbat dinner at Beth Israel Synagogue with Noam Tzion. Following dinner, Dr. Tzion will speak on "First Born, Plague or Privilege? Cain and Abel and the Tenth Plague." Cost is $15 for adults, $9 for children 4-12, and $3.50 for children under 4. Send reservations to OCTL, 2001 N. 56th, Omaha, NE, 68104 or call Rabbi Shlomo Levin at 551-1564, or Kathy Hirshman at JELS, 334-6445.
Marburg BANANA SPLIT PANCAKES 2 cups Bisquick (Regular or Reduced Fat) 2 tsp. baking powder 1 Tbsp. sugar 3 Tbsp. wheat germ 2 Tbsp. lemon juice 1 large egg 1/2 tsp. vanilla extract 2 medium ripe bananas, mashed lineups milk 3/4 cup chocolate chips (or mini-chips) Strawberry syrup Preheat non-stick griddle or skillet to medium-medium/high heat. Mix first four ingredients in a bowl or pitcher. Add lemon juice, egg, vanilla, bananas and milk; stir until blended. Gently stir in chips, then pour or ladle by about 1/4 cup onto hot griddle. Flip cakes over when bubbles break on the surface; cook for 1-2 minutes, more or until golden. Garnish with banana slices, more chocolate chips, and a dollop of whipped cream, if desired. Serve with strawberry syrup.
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Mark and Felicia Weaver announce the Dec, 4 birth of their son, Jacob Ryan, named in memory of his maternal great-great-grandfather, Jacob Chorney. Jacob has a sister, Madison, 4. Grandparents are Marvin and Hedy Kirke of Omaha, Donna Weaver of Grand Island and the late Lynn Weaver. Great-Grandparents are Helen Kirke of Omaha and the late Nathan Kirke.
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Larry DeBruin, Beth El Synagogue Executive Director, has been appointed to a second term on the Board of Governors of the North American Association of Synagogue Executives. DeBruin serves on the NAASE Long Range Planning Committee and is committee chairman for Regional Group and Outreach. Missouri Valley Federation of Temple Youth (MoVFTY), now known as North American Federation of Temple Youth (NFTYMO Valley), is having a reunion in St. Louis from Friday, Aug. 31-Sunday, Sept. 2. If you participated in MoVFTY from 1948 to the present, please plan to attend. A web site has been established to register or look up old friends: http://movftyreunion.brimer.org For more information, call Ronnie Brockman at 314-469-8034 or rbrockman@shaare-emeth.org The Storytelling Festival of Nebraska has joined forces with Metro Community College to offer a series of workshops and a performance. Titles of the workshops are Telling Stories About Stuff; Storytelling-What's It All About?; Storytelling Intensive-Family Stories and. , .; and Introduction to Storytelling, For more information, call 551-4532, or e-mail: storygalore@home.coMi Julie Rochxnan, formerly of Omaha, has been named Senior Vice-president of public affairs for the American Insurance Association (AIA), The past four years, she has been with the Insurance Institute for Highway Safety, most recently as vice-president of communications. Medical Ethics: Tough Choices (gene therapy, organ transplants, and controversy on stem cells) will be broadcast on Nebraska ETV. Dates and times are Saturday, Feb. 3, 12:30 p.m. CT; Tuesday, Feb. 13, 8 p.m, CT; and Monday, Feb. 19, 1:30 p.m. CT. Also, NETV2 will broadcast on Feb. . 3, at 5 p.m. CT. For more information, call 4729333, ext. 694, e-mail: kschweiss2@unl.edu.
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Retirement Plan-Accounts Big Dollars and New Rules by the office of FITZGERALD-SCHORR
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Billions of dollars are held in retirement plan accounts and IRAs—it is not uncommon for these accounts to constitute a major asset of someone's total estate. According to Nick Taylor, an estate planning attorney with Fitzgerald, Schorr, Barmettler & Brennan, P.O., many individuals do not realize that such accounts are subject ultimately to both income tax and estate tax. For larger estates, the total tax on retirement plan accounts can be 75 to 80 percent of the account. Individuals should take these tax liabilities into account when planning their estate. The Internal Revenue Service has issued two very favorable announcements concerning retirement plan accounts. A couple of years ago, the IRS issued an announcement making it easier for a retirement plan account to be payable to a trust at time of death. This can be very desirable in a husband and wife situation. The husband and wife each are entitled to $675,000 exemption, but two exemptions are only used if each spouse creates a trust at the time of their death to be held for the benefit of the other spouse and owns assets in his or her separate name. Nick Taylor advises that with proper planning a spouse can now use his or her retirement plan account to help fund the $676,000 exemption that will be held for the surviving spouse. This January, the IRS extended the number of years over which an individual may spread their payouts from a qualified plan or IRA. Another benefit under the new rules is that; the owner can change the beneficiary as often as they wish at any age, and it is the beneficiary in place the year following the'Owner's death which will determine how long a payout period is then required, Taylor identifies two other important rules under the new IRS announcements; 1) do not designate your estate as a beneficiary for a retirement plan account— this will require immediate accolnrttUon of payouts and result in sizable income tax th;d, could have been deferred for many years; and 2) cloaignutinj; n charity as a partial beneficiary of an account is much cwisicr than under prior rules (and avoids both income tax and estate tax on that portion.) Because of the new distribution rulus, ovoryonu, whether they are under or over 701«, should r«vu>w their beneficiary designations on tlu< rutirimiouL plan accounts to see that they have, nmde the btwt choice.
The Montana Repertory Theater will present The Diary of Anne Frank on Monday, Feb. 5, 7:30 p.m., at the Lied Center for Performing Arts, 301 N. 12th St., Lincoln, NE. For tickets, call the Lied box office at 402-472-4747 or 800-432-3231. College students and faculty are invited to an evening at J o s l y n A r t Museum during the Museum's annual College Night on Friday, Feb. 16, 7-9 p.m. Admission is free for those with current college identification and Joslyn members. For more information, call 342-3300. The Omaha Area Youth Orchestras will perform their Winter Concert on Sunday, Feb. 18, 7 p.m., at the University of Nebraska at Omaha's Strauss Performing Arts Center, 60th & Dodge. The concert will feature this year's recipients of the Omaha Area Youth Orchestras Concerto Competition. For more information, call 402-2382044, or visit their website at www.0AY0.org Upcoming events at Borders (72nd & Dodge) include: Saturday, Feb. 8, 7 p.m.: Luigi's CD Release Party; Sunday) Feb. 4, 1:80 p.m.: Special Sunday Storytime—A Visit from Madeline; Wednesday, Feb. 1.4, 7 p.m.; Luigi Presents; Sunday, Feb. 18, 2 p.m.: "World History Discussion; Monday, Feb. 10, 7 p.m.: Most Famous Book Club; Tuesday, Feb. 27, 7 p.m.: The Return of Taming the Raging Hormones.
by ART GROSSMAN — As an Auu'.r-NOAN proudly claim to huvo voted in every U.S. presidential election oxeepl. one, t bdcamti ill and couldn't get to my polling place. I'm not sure if the past election Cioorite W. Bufth was truly voted in or appointed. Al Gore won the popular vote by nearly 540,000 votes out of more than 100 million cast, but the Electoral College delivered Bush the required number declaring him the winner. That perplexing outcome was the main subject of the OT/Y.K.M. diBcusnitm chxm Jnn. 22. Next in important1!* WHS Kpwuhitiou on what tho future portends for paHt*pr««i(Junfc'Uill Clinton. Maybe he'll do what Hillary Clinton avowed she would not do when ahe stopped down a« Kirat Lady -•Rpentl time in the kitchen malting cookieH. Another beautiful January day brought' forth im above normal turnout for the meeting and lunch. It in pleasing to .see the incrniiHed purticipiition of roHidunlH from the Hlnmkin Home. We joined in n monu<ut of silo wo in memory of Honia Mill nick, Kvn S. Koth, Knula Mniashork and Jean HrcKol. .Shfilom.
Jewish Press, Omaha, NE Page 9
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Jewish Press, Omaha, NE
February 2, 2001
Israel's Economy Takes a Hit This newspaper can be recycled ASK FOR...
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diverted to Cyprus on Sunday, while those tourists who did arrive often had to wait several hours for baggage. "There are so few tourists coming," said one participant from the O.U. mission at the airport Sunday night. "So the Histadrut aggravates those visitors who are brave enough to come, despite the negative publicity!" Even the Western Galilee has been affected by the latest intifada. While actions in the northwest corner of Israel have been limited to a few riots by Israeli Arabs in Acco and one incident of stone throwing from a highway bridge, residents of the area are feeling the economic pinch, too. Rhea Feldman, a member of the municipal council from Mateh Asher, the governing body of kibbutzim and moshavim in the region, confirmed that Israelis are not travelling within the country. "Now that Tzahal (the Israeli Defense Forces) have pulled out of Lebanon, the border is quiet," explained Feldman. "There's no more shelling, no more katyusha rockets firing and no more nights in the shelters. This is an ideal place for Israelis—and Americans—to come for a holiday." But even Feldman admitted to taking two weeks in October to visit family in the United States with a short stay in Turkey on the way home. So what's in store for Israel's economy? According to Shlomo Maital of the Technion's Institute for Management, the current political situation seems headed for separation with the Palestinians (see article on page 19). "For Israel, the end of economic relations would mean a one-time loss of about 1 percent of its GDP or about $1 billion. Foreign capital, however, does not flow into an unstable region. A major flight of capital could cut Israel's reserves in half and lead to a sizeable depreciation in the Israeli shekel. Israel's high-tech sector, which has led the recovery from the 1996-98 recession, could suffer and lead this sector to transfer its activities abroad. Still, Israel would remain a First World nation and will continue to grow its economy, while the Palestinians would suffer severe hardship." There are some positive signs on the horizon, however. "Trade with Indonesia could reach $1 billion in three years, the Federation of Israeli Chambers of Commerce said last month following a decision by Indonesia to scrap its limits on trade with Israel," wrote Zohar Blumenkrantz in Ha'Aretz. "Federation president Danny Gillerman called on the Israeli Trade Ministry to reciprocate by removing the quotas imposed by Israel on Indonesian goods. "'The decision of the Indonesian government to
Olim from the former Soviet Union perform in a nearly empty Ben Yehuda Street. Photo by Jack Ilazut. remove limits on trade with Israel is very good news for both economies and the Israeli Trade Ministry should now complete the process the Indonesians have begun,' said Gillerman. "He said the trade potential with Indonesia was enormous and, without trade barriers, would likely reach about $200 million in the first year. Within three years, trade has the potential to reach $1 billion, the association said. 'Indonesia, the largest Muslim country in the world, with a population of 230 million people, is the world's biggest producer of liquid gas and is very rich in natural resources and minerals. The potential for trade lies mostly in the export of telecommunications and agricultural products and in the import of raw materials, particularly wood,' said Gillerman." And a major deal was approved by the Knesset Finance Committee from a request by Finance Minister Avraham Shochat to grant $7 million in special aid to a joint Israel-Jordan project, Sha'ar Hayarden. The project includes the establishment of an industrial park with a free-trade ssone along the Israel-Jordan border. The park will comprise structures for industrial and commercial use by organizations and companies involved in international business activities. Israel has survived more than its share of recessions, conflict and war. Despite the current downtown, it seems likely that Israeli performance in the high-tech sector (with more Initial Public Offerings that any other country except the U.S.) will continue to help the Israeli economy. Investment in Israel is still a good bet, according to most analysts, regardless of the current situation.
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Retirement Plan Distribution - A Taxing Time
IRS announces 2001 Standard Mileage Rates
by ROBERT E. MUNDY, Mundy & Associates, inc.
When it comes to assets, the name of the game remains the same: it's the net after tax value that counts. And this is doubly so when it comes to retirement plan assets, including rollover IRA's.
The key to maximizing and protecting these retirement assets is a distribution strategy, tailored to one's individual needs and circumstances. Otherwise, the combination of income and estate, taxes can wipe out up to 80% of their value. This is still true, even though a just-announced (January, 2001) revenue ruling offsets some of the Internal Revenue's distribution penalties. Tax law states that minimum distributions must begin April 1 of the year after turning age 701/2. This then, is known as the Required Beginning Date. Now the fun has just begun because another choice must be made from the many different minimum distribution options available. The two primary factors to be considered in making this choice are life expectancy and beneficiary designation. This can be a significant, and in some cases irrevocable, decision that holds unique consequences for both the retiree and beneficiaries. Those consequences can be intended—as a result of matching one's personal and financial values with the myriad options available—or unintended-as a result of ignoring' a coordinated planning approach. As someone once said, "If it weren't for the last minute, nothing would get done." When it comes to retirement account monies, the clock is ticking and fche time for detailed planning will never bo, more timely.
IN VINO VERITAS Pvemctm-
WASHINGTON--The Internal Revenue Service has announced the optional standard mileage rates to use for 2001 in computing the deductible costs of operating ah automobile for business, charitable, medical or moving expense purposes. The amounts for the various deductible costs for use of a car will be effective Jan. 1, 2001, and are as follows: • The standard mileage rate for the coat of operating a car is 34.5 cents a mile for all business miles driven. The rate for 2000 was 32.5 cents a mile. • The standard mileage rate for the use of a car when giving services to a charitable organization remains at 14 cents a mile. • The standard mileage rate for use of your car for medical reasons is 12 cents a mile. The previous rate was 10 cents a mile. • The standard mileage rate to use when computing deductible moving expenses is 12 cents a mile. The previous amount was 10 cents a mile.
Jewish Press, Omaha, NE Page 11
Barak Visits Israeli Youngster Wounded by Terrorists *
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A 12-year-old boy travelling on the GivonGivat 55e'ev road north of Jerusalem recently was injured when the car he was in was fired on by terrorists, OSB Gfueta was wounded in the thigh and elbow and, following first aid by Magen David Adorn at the scene of the shooting, was transferred to Hadassah Hospital where he underwent surgery to his elbow. Gueta looks proudly at his football, which had just been signed by Prime Minister Ehud Barak. Nava Barak is at the right. Photo by ISRANET
The primary reason for the mileage rate increases is due to the jump in gasoline prices. The standard mileage rates for buamefts, medical and moving purposes are b«H<ad on mi aimual study of the fixed and variable costs of operating an automobile. An independent contractor conducted the study on behalf of the IRS. The charitable standard mileage rate is provided by law. Revenue Procedure 2000-48 haa been released to formally announce these standard mileage rates. It contains additional information on these rates and will appear in Internal Revenue Bulletin 2000-49, dated Dec, 4, 2000.
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Page 12
Jewish Press, Omaha, NE
February 2, 2001
Pearl Giyenter's Donated Property Benefits Both'Creighton and. Federation Foundation hy CLAUDIA SHERMAN, Foundation Public Relations Coordinator.
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Pearl Giventer, who established an mouth, NE, but lived the greater part endowment fund for the benefit of the of his life in Omaha. He graduated Omaha Jewish community and a from Technical High School before donor-advised fund in 1996 with The enlisting in the U.S. Army about the time World Foundation of War II was the Jewish breaking out. Federation, The couple donated twowere married thirds of the in 1946 at appraised B'nai Israel value of a Adas1 Russia building and (the Ruaadjacent shishe Shul) empty lot she at 18th and owned at 19th Chicago. Mrs. and Cuming Giventer St. in Omaha believes her to The Founwedding may dation. The have been the sum was dilast one pervided equally formed there, between her They had two two existing children, fundsPaul, who The property was donated From left: Marty Ricks looked over prop- lives in ScotÂť prior to the erty at 19th and Cuming St. donated by tsdale, AZ, formation of Pearl Giventer. In an arrangement with, and Marlys the Pardes Creighton University, Giventer's dona- Lebowitz of F o u n d a t i o n tion benefited both The Foundation and Century City, (see article on Creighton. OA. There page 14). are also three In a creative arrangement with grandchildren, Erik, J, Grant, and Creighton University, the property Shealy, all of whom live in California. Together the Giventers ran a busiwas donated to the University, Creighton retains the property and ness, Railroad Jobbing. After light^ave two-thirds of its appraised value ning struck tho building, Mrs. " to the Federation Foundation. The Giventer explained, she and her husfinal installment was just received, band bought "a huge building in reported Marty Ricks, Executive 1967" to expand their business. Director of The Foundation, Later, they started a new business, "This was a perfect situation for us California Carpeting, which she ran in that the time frame was so short until she liquidated it four or five that we would not have been able to years ago. do proper due diligence to determine Although she keeps busy now by if we could accept the property," "investing in the stock market," explained Ricks. "However, Creighton Giventer said a ho also likes to help wanted the site for its future east--, people. "I have a lot of friends at the ward expansion and had the exper- Bhimkin Home who I visit regularly," tise and staff to research and make a she related. quicker decision." Givonlcr's daughter, Marlys LeboSteve Scholar, Director of Estate witz, remembers that; her mother and Trust Services at Creighton, paid bills* for her customers whose observed that the property at 19th utilities had been turned off for lack and Cuming is "a logical Fit for our of payment. campus because of its proximity to Not only has 'her mother been "very our borders." He also commented that generous to me and my brother," said "Pearl has been a good neighbor to Lebowitz, "she has been very compasCreighton." sionate to those in need. She personGiventer, a lifelong Oinahan, set up ally gets involved when somebody her unrestricted endowment fund to needs help." Lebowitz described how benefit the Jewish Federation in "its her mother helped new Russian Judaic and charitable purposes and immigrants in Omaha find jobs and responsibilities with regard to the places to live. "She would also go to welfare of the Jewish people of the Rose Blumkin Home to cheer peoOmaha, Israel, and throughout the ple up." world." Jewish Family Service has also A graduate of Central High School, been the recipient of Giventer'a finanPearl Giventer also attended Omaha cial contributions, University. For "a long time," Giventer volunAlways interested in the business teered to work at the Iladaseah world, Giventer worked at Mutual of Bargain Box. She also belonged to Omaha, at Macy*s in New York City B'nai B'rith Women. A member of in accounting for a short time, and Beth Israel Synagogue, she likes to go "off and on" for her father, Sam to all of the synagogues in Omaha as Richman, from the time she was 11 or well as the diverse events at the 12 years old in his clothing stores in Jewish Community Center. Omaha, which eventually became By contributing the proceeds from Richman Gordman. the sale of her building at, 19th and At one time, she also worked at Cuming, Giventer pointed out that Richman-King Motor Company sell- the donation "is a good cause that ing cars for her father. helps people in need." She said she Giventer's husband, Ned, who died was influenced by her parents, Sam in 1986, was originally from Platt(Continued on page 13)
February 2,2001
The People's Tax Act of 2001
Jewish Press, Omaha, NE Page 18
Pearl Giventer
(Continued from page 12) >-f "»" • '«<«<•*,•„«„,;,,»,:,„,„, and Jennie Richman, and her husband Ned. "He by CONRAD TEITELL, ESQ — — — was very charitable," she commented, and would Editor's note: Conrad Teitell is a nationally increased tax benefits for charitable gifts. And a be "very enthusiastic" about the establishment of known expert on charitable planned giving: recent bipartisan bill that passed the House and the funds with The Foundation. and the outside legal counsel for the Planned Senate by substantial margins would have encourAccording to Ricks, "Pearl is quietly generous. Giving Department of United Jewish Com- aged donors to contribute their IRAs to charity. This absolutely wonderful donation will help the munities (UJC). According to Marty Ricks, That bill was vetoed for reasons other than the pro- Omaha Jewish community forever, because the Executive Director of the Jewish Federation charity provision. In fact, the outgoing administra- endowment fund that she and Ned established supFoundation, the following article is repro- tion supported pro-charity provisions of the vetoed plements the annual Federation campaign. In duced with permission from the December, and earlier bills. fact," Racks added, "Pearl has mentioned that she 2000, edition of Conrad Teitell's Taxwise may want to bring her fund to a level that qualifies Urge enactment Giving. for national PACE recognition with United Jewish of the People's Tax Act of 2001 1, Charitable gifts of pension plans allow a Communities (UJC) in New York." America's charities—supported in the main by tax-free rollover beginning at age 591/2 from IRAs PACE is the acronym for Perpetual Annual private contributions—are being called upon to and other pension plans to make outright gifts and Campaign Endowment that committed donors to close the gap between society's increasing needs gifts to unitrusts, annuity trusts, pooled income the annual Federation campaign establish. Income and decreasing government funding. Tax laws funds and gift annuities. from a PACE fund will forever be used to support encourage that support by giving charitable deduc2. Charitable deductions for non-itemizers. the annual campaign. By qualifying for PACE, tions. But looking at the deduction through realis- About 75% of taxpayers take the standard deduc- Giventer will also qualify for LOJE, an acronym for tic glasses, we see that people who make charitable tion. They should be allowed to deduct their chari- Lion of Judah Endowment, the national women's gifts, in effect, voluntarily tax themselves for the table gifts over a reasonable floor. This is not plow- society sponsored by UJC. benefit of others. ing new ground. A tax law allowing a non-itemizcr Anyone interested in discussing the establishAn individual in the 28% tax bracket, for exam- charitable deduction expired in 1986. ment of a Fund should contact Rieks at 334-6440. ple, who deducts his or her $1,000 charitable gift is 8, I n c r e a s e d d e d u c i b i l i t y ceilings a n d said to save $280 in taxes. In reality, the donor has longer carryover. All gifts to publicly-supported parted with $720. So, a $1,000 charitable gift charities should be deductible up to 50% of adjustdoesn't save $280. It costs $720. In fact, many indi- ed gross income (up to 30% of adjusted gross viduals use their tax savings to make even larger income for gifts to private foundations). The five- by HOLLY ALEXANDER, Associate Director——— Nominations for YWGA Omaha's annual Tribute charitable gifts so their out-of-pocket cost is, in year carryover should be expanded to 10 years. effect, the full amount contributed. This would be an added incentive to make charita- to Women of Vision are due Thursday, Feb. IB, Tax law changes will soon be on the Congres- ble gifts during lifetime instead of at death by a according to Kathy Dessonville, chair of the selection committee. sional front burner and the topic is hot. Now is the will Eight women are honored each year for achievetime to urge additional tax incentives for charitable Standing alone, this makes sense because gifts ment in their award category, community service, gifts and to remove current tax disincentives. will be made sooner rather than later. And if the and a damansferated commitment to the elimination The People's Tax Act will increase charitable gifts estate tax is repealed, the higher ceilings and of discrimination, Dessonville said. Nominees may to the benefit of the people served by the nation's longer carryover period could partially make up for be employed, retired or volunteers, charities. The burdens and cost of federal and state charitable gifts that would have been made by a YWCA Omaha will provide copies of past nomigovernments will be significantly decreased by the donor's will but for the estate tax's repeal. nations to be updated for consideration. additional support for worthy* causes by people 4. Removal of the charitable deduction from The luncheon, chaired by Anne Johnson helping people. the 8% reduction rule. Taxpayers must reduce Steinhoff, will be T u e s d a y , J u n e 5, noonPresident, Bush -in his campaign speeches and their charitable and other itemized deductions .1:30 p.m., at the Holiday Inn Central. For informa(Continued on page 10) by a plank in his party's platform-promised tion, cull YWCA Oiiinha. MB Glififi.
A Compassionate Compact With America's Charities
YWCA Omaha Seeks Nominations
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Page 14
Jewish Press, Omaha, NE
February 2, 2001
Federation Announces Formation of Non-Profit Family Speaks out for Developmental Disabilities Corporation to Accept Real Estate Donations by JOAN K. MARCUS
by MARTY RICKS, Executive Director, Foundation of the Jewish Federation-
A new charitable entity called the Pardes Foundation has been created by the Jewish Federation of Omaha to accept real estate donations. Pardes' primary purpose is to receive, hold and, ultimately, sell the donated real estate property. Once Pardes sells property it has received through donations, the proceeds will be entrusted to and managed by The Foundation of the Jewish Federation. The Pardes Board of Directors consists of five directors, three of whom must be either real estate or legal professionals. The other two will be the President of the Jewish Federation and the Chairman of the Federation Foundation or their respective designees. Presently, directors are Steven Bloch, President; Jay Noddle, Secretary; and Joe Kirshenbaum, Treasurer; along with the respective Federation and Foundation designees, Howard Kooper and Mike Erman. "Pardes" in Hebrew means "orchard" and suggests the idea of growing things. The name was suggested by President of the Federation Forrest Knitter during the early discussions about forming the new corporation. Receiving real estate contributions will help the JewiBh community grow and expand programs for all ages. With the structure of the current income and estate tax laws, along with the relative strength of the local real estate market and a long history of generosity by the Jewish community of Omaha, opportunities exist for donations of real estate. The Foundation has always accepted real estate donations although transactions have been infrequent. As the Pardes Executive Director, alongside my duties as Executive Director of the Foundation, I believe the new non-profit corporation is necessary because receiving real estate is not like receiving public stock that is readily marketable. There could be problems with real property that create liabilities that exceed the appraised value. Consequently, we might have to decline to accept real property in certain situations. The receipt of a gift of real estate, due to its illiq-
uidity could, in fact, potentially cause a revenue loss because of holding costs until a suitable buyer is found. These costs could be property taxes and assessments, maintenance, repairs and an environmental audit. As a matter of policy, Pardes cannot accept a gift of real estate without some independent environmental assessment of possible contamination. .-./' ' Therefore, the Pardes Board may not want to accept property that appears not to be readily saleable. For every piece of property the Board might decline to accept, there are probably 10 offers that would be acceptable. Often donors want to sell their property late in i* ' the year. A small expert Board of Directors can act much faster in short-term periods than the entire Foundation Board. Once a parcel is accepted, the goal of Pardes will be to turn it to cash as soon as possible, finding a buyer to pay an amount equivalent to the parcel's appraised value. Here again, Photo by Milton Marcus having a Board of professionals in real estate and The Salomon Family (above), Mark and Debbie law will not only help speed the sale but will also and daughters, Jillian and Lisa, were guest speakhelp minimize professional fees. ers at the Arc of Nebraska's annual Senatorial People will donate real estate for the same rea- Appreciation Dinner recently. sons they donate stock: 1) a full tax deduction for The Arc of Nebraska is a statewide organization the appraised value, and 2) avoidance of capital that advocates for people with developmental disgains tax. Beyond that, some donors may want to abilities and their families. free themselves from the time and energy it takes Lisa and Jillian suffer from a rare form of to manage their real estate. Furthermore, their tax Developmental Disability that limits their ability to situation may be such that their real property, if it They join over 800 other Nebraskans with dishas a low tax basis, may be a better choice for learn. abilities who are on the "waiting list" for services. donation to charity than other assets they own. The Salomons spoke of their concern for the day Finally, typically low-yielding real estate with a when they can no longer take care of their daughters, low tax basis is used to set up a life income plan Legislation relating to tobacco settlement funds, such as a charitable remainder unitrust which prowhich bring $50 million a yeart, has been introvides the donor or someone else with a lifetime duced in an effort to reduce the number of people income. No tax is paid when the real estate is sold. waiting. Instead, the real estate is transferred to the trust Lisa and Jillian are members of "Yachad" the which, since it is tax-exempt, does not have to Jewish social group sponsored by Jewish Family report the taxable gain. Anyone who is interested in discussing the dona- Service. The event was partially funded by the Ida and tion of real property can get in touch with me at (402) 334-6440 or via email at mjickst^jewishomahauorg. Sam Kaiman Endowment Fund. ,:-i
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Jewish Press, Omaha, NE
Page 15
Reviewing Both IRAs - - Pros and Con (versions) by JOSEPH M. JOHN, CLU
—-—
If you haven't already plotted your IRA strategy for the current tax year, you're probably well advised to take a hard look at the Roth IRA. While you can't deduct your annual contribution from your taxable income, there are still plenty of reasons why a Roth IRA may be too good a deal to pass up. If your income allows you to qualify (adjusted gross income below $160,000 for joint filers and below $110,000 for single individuals), you may find these and other advantages in a Roth IRA: Tax-free. Withdrawals-There are several circumstances under which you can make withdrawals without being taxed. If you're 59l/2, and have had the account for at least five years, you won't have to pay tax when you take money out, even on the investment gains you've made. No matter what your age, you can withdraw your contributions (but not the earnings on them) tax-free. If you are younger than 591/2, but have still met the five-year requirement, tax-free withdrawals of earnings are allowed in the case of death or disability, and up to $10,000 (lifetime maximum) for qualified first-time homebuyer's expenses. Estate Planning 7W--Unlilce amounts held in traditional IRAs, Roth IRA assets are not required to be withdrawn from your account at age 701/2. If you don't need the money to live on, you don't have to touch it. Instead, you can pass the entire amount on to your heirs by designating a beneficiary or beneficiaries, who can then take distributions over their lifetime or life expectancies. These distributions will be income tax free if the five year rule has been met. If you do not designate a beneficiary, or the beneficiary you do designate does not elect within 60 days of death to start receiving annuity payout within a year of your death, the balance of the Roth IRA must be entirely distributed by the end of the fifth calendar year after the year of your death. The rules governing beneficiary designation and distributions are complex, so you may want to consult with a tax advisor. College Sawing—Regardless of your age, or
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whether you've had your Roth IRA for five years, you can take out what you put in (but not necessarily rollover/conversion amounts from a traditional IRA or investment gains) without tax or penalty. So, if you and your spouse each contribute $2,000 annually to a Roth IRA to fund your eight-year old's college education, you will be able to withdraw $40,000 by your child's freshman year at age 18, even if you're both under the age of 591/2. Any further withdrawals beyond the amount of your contributions will not be tax-free, but will escape the 10% federal income tax penalty if the money is used for qualified higher education expenses you incur for an eligible person. This scenario does not impact an eligible couple's right to set aside $500 per child annually in a separate Education IRA. Beyond a 401 (k)~-After you've deferred sufficient compensation to maximize your employer's matching contribution to your 401(k) plan, you might want to consider using any additional funds you have to contribute to a Roth IRA. You won't get the immediate tax deduction and there arcs contribution limits, but the Roth IRA can be a tax-free supplement to your income in retirement. Retirement Tax Tamer—If you have a traditional IRA, you'll be required to begin taking withdrawals from it when you reach 7O.t/u, which will be subject to tax. At that time, you might consider making only the required minimum withdrawal from the taxable IRA, then taking the rest of what you need tax-free from a Roth IRA. That will help you minimize taxable income und possibly stay in a lower bracket. Reaching to the Corwertcd-Conversioxx Caveats If the above sounds appealing to you, youvli probably want to talk to your tax advisor to see if converting any traditional IRAs to a Roth IRA is a good idea for you Keep in mind that the income limits for conversion eligibility are lower-—$.100,000 modified adjusted gross income (AGI) for both single and joinfc-ffiera—than they are for making contributions to a Roth IRA. Nonetheless, here are BOine things to wateh out for if you do decide to convert:
Giving to a Charity Can Help You, Too Americans gave $19040 billion t<> charities in 1999. Making a difference in the lives of others can also make a difference in your tax returns.
Ways of Giving to Charities: WRITS A CHECK
• it's cany • I) 10 amount i« subtracted from your taxable income
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Bracket Creep-It you had a traditional IRA that you converted in 1998 and elected to spread the tax over four years, your annual bill will be determined by the tax bracket you're in for that particular year. So if your earnings jump, you could pay more tax in subsequent years than you did at first. State Tax—Know how the laws of the state where you reside treat Roth IRAs. Some states have imposed income taxes on Roth IRAs; others haven't. The Illusion of Income-The Roth IRA conversion will cause your adjusted gross income to go up. That could have implications on how you qualify for college aid and tax credits. Footing the Conversion Bill-'You must pay tax on any earnings and pre-tax contribution because the conversion represents a distribution from the IRA. If you're under 591/2 and you dip into your IRA funds to pay those taxes, yon generally have to fork over a 10% federal income tax penalty on the amount taken, plus ordinary income taxes, which are payable in the current tax year because that amount was .not converted to a Roth IRA. Unexpected Taxes-'lf you paid $2,000 into a nondeductible IRA in 1997 with the thought of converting it tax-free to a Roth IRA this year, you may be in for a surprise. That's because the government calculates taxes based on the taxable amount of all the IRA funds you have. So, if you have another $8,000 of deductible IRA assets you are not converting, you'll still have to pay tax cm 80% of the amount converted,-or $1,600. An insurance and financial professional can help you Figure out the impact the Roth IRA might have on your personal financial picture, If you want to try to figure the numbers on your own, several Web Sites, including www.prudential.com, feature an. interactive Roth IRA calculator to make the arithmetic easier.
• you'll save even more taxes • you'll have established a fund in your own'name and may suggest how the income is distributed to your favorite chari-tios PUNNED GMHG: .. ' • your donation will entitle you to receive incomo for life • you'll also be entitled to.an income tax deduction for the year that you donated to a charity by Betting up
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2. * ivwro complex than an annuity and suitable for large gifts <$KK),lHX) or mom) * you'll receive income tor life or a specified number of years (up to 20) • there arc; two types of OHT's: the unitrust pays you a percental of the iinntud ftppraisftd value, of the account; while the, annuity trust pays a fixed dollar amount or a fixed percentages of the amount donated.
Marty Ricks, Executive Director of the J e w i s h Federation Foundation (402-384-6440) can help you design a plan with Crescendo Interactive Software to beat suit your goals and iterate, You should also consult a financial planner, tm advisor or an- attorney.
JHEJEQUND&igN of the Jewish Federation of Omaha
Page 16
Jewish Press, Omaha, NE
February 2, 2001
Frequently Asked Questions about Federal Taxes You may receive cash or something of value in- of Investment Property. References: Publication stead of a fractional share if the number of shares 550, Investment Income and Expenses Tax Topic of new stock doesn't divide evenly into the number 409, Capital gains and losses. of shares of the old stock. You treat this as a sale of •My spouse and I both work and are eligible for the fractional share. If your basis in the new stock is determined, in the Child and Dependent Care Credit. May I • I received stock as a gift from my grandparents, whole or in part, by your basis in the old stock. include my five-year-old son's day school kinderlam selling the stock this year. How can I figure the Your holding period for the new stock will include garten tuition cost as a qualified expense in Form the holding period for the old stock, provided that 2441, Child Care Expenses? basis of the gifted stock? The expenses for kindergarten do not qualify for To figure the basis of property you receive as a the old stock was held as a capital asset at the time gift, you must know its adjusted basis to the donor of the exchange. Refer to Publication 550, the dependent care credit because kindergarten is just before it was given to you, its fair market value Investment Income and Expenses. References: primarily educational in nature. However, you can count the part of the expenses of sending your child (FMV) at the time it was given to you, and any gift Publication 550, Investment Income and Expenses to school that is for your child's care if it can be septax paid on it. « How do I figure the cost basis of stock that has arated from the expenses of education. If the FMV of the property was less than the If your child is in the first grade or higher, or if donor's adjusted basis, your basis for gain on its split, giving me more of the same stock, sol can figsale or other disposition is the same as the donor's ure my capital gain (or loss) on the sale of the stock? the cost of schooling can be separated, you must The basis of the old shares must be allocated to divide the total cost between the cost of care and adjusted basis plus or minus any required adjustthe old and new shares in proportion to the fair the cost of schooling. You can count only the cost of ment to basis during the period you held the property. Your basis for loss on its sale or other disposi- market value of each on the date of the split. Thus, care in figuring your credit. References: Publication is its FMV at the time you received the gift you generally divide the adjusted basis of the old tion 503, Child and Dependent Care Expenses Tax plus or minus any required adjustment to basis stock by the number of shares of old and new stock. Topic 602, Child and dependent care credit. The result is your new basis per share of stock. during the period you held the property. If the old shares were purchased in separate lots • My mother has recently moved into a nursing If the FMV of the property was equal to, or greater than, the donor's adjusted basis, your basis for gain for differing amounts of money, the adjusted basis home. Her social security and other income does not or loss on its sale or other disposition is the same as of the old stock must be allocated between the old cover all the expenses. My siblings and I make up the donor's adjusted basis at the time you received and new stock on a lot by lot basis. References: the difference. Can the portion I (we) pay be considthe gift. Increase your basis by all or part of the gift Publication 550, Investment Income and Expenses ered for dependent care and be deducted or credited? Tax Topic 409, Capital gains and losses. If you or one of your siblings can claim your tax paid, depending on the date of the gift. mother as a dependent on their tax return, then For complete information, refer to Publication 17, that sibling can also claim the medical expenses * When my stock split, the stock distributed to me chapter 14. References: Publication 17, Your which the sibling paid on behalf of your mother. was different than my original shares. How do I figFederal Income Tax. ure the basis of the shares of the two different kinds The medical expenses which the other siblings pay would not be deductible. • When I sell shares of stock in a company that of stock? Usually, the company issuing the new type of References: Publication 503, Child and Depenmerged with the company I originally invested in, do I use the basis and holding periods based on the stock will send you a letter explaining tax conse- dent Care Expenses; Publication 501, Exemptions, quences of the stock distribution, including how to Standard deduction, and Filing Information; purchase of shares in the original company? Usually, when you trade stock in. one corporation calculate the basis in t h e two different types of Publication 502, Medical and Dental Expenses; Tax Topic 602, Child and dependent care credits; Tax for stock in another as part of a merger, you have a stock. nontaxable trade. The basis of the stock you If you did not get such a letter or would like fur- Topic 354, Dependents; Tax Topic 502, Medical and received is the same as the basis of the old stock ther assistance, call IRS customer service at 800- dental expenses. adjusted for any gain recognized on the exchange 829-1040 or refer to Publication 550, Investment (Continued on page 17) and the value of property or money received. Income and Expense: Stock dividends under Basis (Editor's note: the following information i s provided a s a c o u r t e s y from t h e Internal Revenue Department. For more information, consult your accountant, attorney or your tax professional.)
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Six Simple Troths About Long Term Care by ROBERT M, NELSON, Vice President Estate Planning Division of Grace/Mayer——.
We are all growing older. . .America is aging: Today, the percentage of people in America over 65 is 12.5%, while in 1940 it was 6.9%. (The projection for the year 2025 shows that 24% of our population will be over 65 years of age!) Long Term Care costs are a real threat to a life time of savings: Today, the average nursing home cost in Omaha is more than $40,000 per year! Statistics tell us that 1 in 2 persons over age 65 will eventually r e q u i r e Long Term Care. (Surprising fact: 40% of Long Term Care patients are under age 64.) Many people would prefer to stay at home: Given the choice between institutional care and the comforts of one's own home, it is no surprise that many people would prefer to stay at home. Care provided at home is expensive but covered under many of today's Long Term Care policies. The government's role is often misunderstood: Medicare and Medicare Supplements are not designed to cover long term care costs. Medicaid is only available to those people with few assets and very limited income, which means the majority of Americans will not qualify for it. Congress will con sider legislation this year that may allow premiums for Long Term Care infutranee to be tax deductible. Desired Outcomes: Most of us desire to remain financially independent, retain our dignity, not, become dependent upon our children and receive quality medical care and services. It is ptwnible with a little advanced planning. Insurance Options: Choose a quality company, include cost-of-living benefits, consider both home health care, assisted living and nursing home benefits, know the reputation of both the company and your advisor. Start with someone you trust to discuHs how the above impacts your personal situation. Take your time but don't, procrastinate. Potico of mind may bo just around the corner.
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Trust & Experience
Jewish Press, Omaha, NE Page 17
FAQ about Federal Taxes (Continued from page 16) — — — — • » • « - « • »My babysitter refused to provide me with her social security number. Can I stilt claim what I paid for child care on my taxes while I worked? If so, how? Yes, assuming that you already meet the other requirements to claim the child care credit, but are missing the required ID number of the provider, you can still claim the credit by demonstrating "due diligence" in attempting to secure the needed information. When the care provider refuses to give the identifying information, the taxpayer can still claim the credit and is instructed to provide whatever information is available about the provider (such as name and address) on the form used to claim the credit (Form 2441, Child and Dependent Care Expenses, or Form 1040A, SCHEDULE 2, Child and Dependent Care Expenses? for Farm 1040A Filers). The taxpayer should write "see page 2" in the columns calling for the missing information. He/she would write at t h e bottom of page 2 t h a t t h e provider refused to give the requested information. This statement will show that the taxpayer used due diligence.) in trying to secure aud furnish the neceatsury information. References: Form W-10, Dependent Care Provider's Identification and Certification; Form 2441, Child and Dependent (.Jura Expenses; Form 2441 Instruetiona, Child and Dependent Care Expenses, Publication 503, Child and Dependent Cure Expenses; Tax Topic 602, Child, and dependent care credit.
ing information, the taxpayer can still claim the credit and is instructed to provide whatever information is available about the provider (such as name and address) on the form used to claim the credit (Form 2441, Child and Dependent Care Expenses, or Form 1040A, SCHEDULE 2, Child and Dependent Care Expenses for Form 1040A, Filers). The taxpayer should write "see page 2" in the columns calling for t h e missing information. He/she would write at the bottom of page 2 that the provider refused to give the requested information. This statement will show that the taxpayer used due diligence in trying to secure and furnish the necessary information. References: Form W-10, Dependent Care Provider's Identification and Certification; Form 2441, Child and Dependent Care Expenses; Form 2441 Instructions, Child and Dependent Care Expenses. Publication 503, Child and Dependent Care Expenses; Tax Topic 602, Child and dependent earn credit. •If I send tny child, who urns under the atfe of 13, to day camps instead of a child care facility for the summer, are these deductible expenses?
The cost of day cunip may qualify us a child expense. The cost of overnight, camp would not. Reference**: .Farm 2441, Child and Dependent Care Expenses; Form 2441 Instructions, Child and Dependent Care Expenses; Publication 503, Child and Dependent Care Expenses; Tax Topic 602, Child and dependent care credit. * AN a child care writer, are we required to ^ivc • I am thinking of having a family member babyout tax statements to any of our parents who request sit for my child full time, in their own home while 1 one? Can. we refuse, to (>ivu a tax statement to some- work. Are. either of us responsible for taxes on the one. who has a past dun balance with us? money I would pay? Can I deduct thin money as my AH a euro provideir, you are required to give your child care, expense even though my family member correct name, iiddre»H aud Taxpayer Identification is not ft re/jistercd day care provider? Number (TIN) to customers who paid ftwf* child care You may h a w deductible chiWctuv axpwuuw if, services during the year. A valid TIN can be the1* the family member is not your dependent find you Employer Identification Number (EIN) of the busi- meet all the tests to claim the Child and Dependent ness or the social security number of a sole propri- (Jure Credit. Your family member will be responsietor. ble for paying boxes on tho money earned und will Form W-10, Dependent Cure Provider's be considered to bo self-employed. References: Identification and Certification, or a similar state- Publication 503, Child and Dependent Care ment may be used for ,su<!h purposes KxponBca; Publication 530, Self-Employment Tax; A care provider who does not give the cuKiomer a Tax Topic 602, Child and dependent care credit. correct TIN in .subject to u penalty of $fi() for ouch failure unless tho failure in due l,o reuHonablo cause • Can elderly day care payments be claimed as a and not willful uofduet. The failure of a customer to deduction? fully pay a bill would not normally constitute reaElderly day care payments muy qualify us Child sonable cause. The penalty doc» not apply to quali- and Dependent Care Expenses, fied tax exempt care providers. In order to be a qualifying person, the person If the care provider refuses to give the identify•• receiving the elderly day care must be either your spouse who was physically or mentally not able to care for himself or your dependent who was physically not able to care for himself and for whom you ofgnmmgtip' can claim an exemption lor could claim an exemp'I dmok nnd tumeti out okay' tion except the person had $2,800 or more of fjross income in the year 2000). All of the other criteria Today, alcohol contributes to for claiming the. Child and Dependent Cure Credit the loading causes of death must HIHO be met. among young people. It's a different world now. References: Tublicatum 501), Child and Dependent Keep kids and drugs far apart. Cure KxpeuHus; Tax Topic fiO2, Child and dependent care credit. I nt I I W I MkwiMl >vi. I «H I'll) Nttim^H 1-800-648-4444
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Page 18
Jewish. Press, Omaha, NE
Arrsid Unrest, Israel Raises the Bar
for Sale of Bonds by PAULA AMANN, News Editor Washington Jewish Week
February 2,2001
-Tax Counseling'. Prog ram. How to Bent an Apartment -with Marks on Your Credit
Open through April 15 The Eastern Nebraska Office on Aging's Retired and Senior Volunteer Program is offering free income tax counseling for older adults in Douglas, Sarpy, Dodge, Cass and Washington counties from Jan. 25 through April 15. Tax Counseling for the Elderly program counselors, who are trained by the Internal Revenue Service, are available at 38 locations in the fivecounty area. Appointments are welcome. In-home visits can be arranged for the homebound. To make an appointment for income tax counseling in Douglas and Sarpy counties, call 444-6558, ext. 228. In Dodge and Washington counties, 7217780. In Cass County, call the First Lutheran Church in Plattsmouth at 296-2832. Please call for appointments weekdays between 9 a.m. and 1 p.m.
ROCKVILLE, MD-Gideon Selinger brought an urgent message to American Jews recently: Israel needs your investment. Selinger, head of the Jerusalem office of Israel Bonds, had just received word at the close of 2000 from Israeli Finance Minister Avraham Shochat that the Barak government had set a 2001 goal of $1 billion in bonds sales. The country's economy has been hard hit by indirect effects of the ongoing Palestinian uprising, explained Selinger. Tourism has plummeted and trade between the Jewish state and the Palestinian authority-which Selinger described as "quite substantial in recent years"--has dwindled to nearly nothing. Due to a computer programming error, the That adds up to estimated losses of between $1 and $2 billion, or about ll/2 percent, of Israel's Internal Revenue Service delayed mailing some Gross National Product, as a result of the unrest, 43,000 balance due notices for individual returns he said. Selinger put the best face on the situation, during the past few weeks. Before IRS identified the error, more than 55,000 however, explaining, "It could have been much notices were mailed to taxpayers that had incorrect worse. The past two years have been the best in calculations and mislabeled line items. However, the history of the Israeli economy." the amount due listed on these notices was correct. Meanwhile, defensive actions by the Israel In some instances, the "Total Payments and Defense Forces, police and security services are soaking up extra funds. "On top of it all," added Credits" line was blank and the figure that should Selinger, "IDF has redeployed in the north -there's have been on that line was printed on the line below, "Overpaid tax". a new border between Israel and Lebanon." What is IRS doing about the problem: IRS has With these new demands on state coffers, the corrected the problem for future notices. For • Jewish state is aiming for bond sales this year to notices that were delayed, IRS has included an match the high of 1992. Normally, said Selinger, explanation with the delayed notices. There is also annual sales stand at between $900 and $950 milan explanation that the due date printed on the lion. To reach the new goal, he said, will require notice reflects an extension without additional targeting some new contributors. , ,; < , penalty or interest. In most cases, taxpayers were "The encouraging thing is that we do see.new faces granted four additional weeks to pay the balance. at our activities in. the United States--and also in Taxpayers who received incorrect notices can conSouth America and Europe," Selinger noted. tact IRS Customer Service at 1-800-829-1040.
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Professor Shlomo Maital lias in no way diminished the enormous reservoirs of hatred toward Israel that Palestinians seem to harbor. This hatred makes it very difficult for pro-peace Israelis to argue for economic ties that have historically led to political ties in other parts of the world. The France-Germany model is an excellent example, where two countries that fought three bitter wars over 100 years made peace by becoming each other's best customer and by growing wealthy together, thus making future wars unthinkable. But in our case, extremists on the Arab side who portray the current conflict as a religious one of Jew against Moslem, have removed all logic from the table making constructive proposals for trade and mutual business links between Israel and the PA irrelevant, Israel faces a severe dilemma: The desire of many Israelis for national and personal security, through erection of defensible borders with the PA; and the fact that if-such geographic borders are also hermetically-sealed economic onea, the PA will sink into poverty, further generating violence and instability. It is tragic that Chairman Arufal ujid other Palestinian leaders do not seem to consider the suffering, poverty and deprivation that tho violence creates for the their people. An internationally renowned economist, Shlomo Maital is Academic Director of the Technion I n s t i t u t e of M a n a g e m e n t a n d Professor of International Economics and Finance at the David won Faculty of Industrial Engineering & Management at the TochnionIsrael Institute of Technology. He is also a visiting 1 professor at MIT'H Sloan School of Management and a visiting1 faculty member at several other U.S., Canadian and European universities. He has authored and edited several books and is a regular contributing commentator to Barren's.
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(except medical expenses, casualty and theft losses, and investment interest) by an amount that equals 3% of adjusted gross income over $128,950 (over $64,475 if married filing separately) in 2000. (Those amounts are adjusted annually for inflation.) The charitable deduction isn't always affected by this rule because most itemizers pay home mortgage interest and state and local taxes. So, in effect, those non-discretionary payments bear the burden of any reduction. But taxpayers with high adjusted gross incomes (people who make sizable charitable gifts) can have up to 80% of their itemized charitable deductions wiped out by the 3% rule. Urge that the charitable deduction be removed from that rule's ambit. 5. A deduction for charitable gifts made by April 15 on the prior year's tax return (at a donor's election). Under current law, a taxpayer can, for example, make a deductible contribution to an IRA for a prior year by the following April 15. Allowing parallel treatment for contributions that benefit the public at large not just the taxpayer—would further encourage charitable gifts. Visit our website; www.taxwi8egiving.com.
JTA NEWS BRIEFS • The U.N. Security Council voted unanimously Tuesday to reduce the number of its peacekeepers serving in southern Lebanon. The body also called on the Lebanese government to take control of territory along the border with Israel, an area that Hezbollah gunmen have used as a staging ground for attacks on the Jewish state. • Palestinians fired a mortar shell into a settlement in the G-aasa Strip, causing no injuries, according to the Israel Defense Force. The army called Tuesday's incident at th© Netzaiim settlement "very serious and grave,1* adding that it was the first time the PolMfcinimm have used mortar fire since violence erupted more than, four months ago. • Swiss banks plan to publish on Feb. 6 a list of 21,000 bank accounts that could belong to Holocaust victims, the Swiss Banking Association said Tuesday. The list is being published under a $1.25 billion settlement Swiss banks agreed to in 1998 as payment for Holocaust-era claims. • Britain's Orthodox Chief Rabbi stressed the importance of helping developing countries keep pace with the rest of the world in information technology. Speaking at the World Economic Forum in Davos, Switzerland, Rnbbi Jonathan SackB said Judaism encourages equal access to knowledge and information, • Israel's Histadrut labor federation reached n preliminary agreement with the government to end a strike over wages. Pending a final agreement, tho labor union eased some of its steps, ordering health fund and outpatient clinic workers to return to their jobs. Ben-Gurion Airport, which experienced disruptions during the weeklong strike, also WUP expected to operate normally.
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Page 19
The People's Tax Act
Suffering the Economic Effects of the lsraeli-*Palestinian Conflict It is still too early to predict the long-term economic consequences of the latest round of Israeli-Palestinian violence, but what is alreadyabundantly clear is that the impact on the Palestinian people is enormous and infinitely more serious than on Israel. With some 120,000 Palestinians unable to go to work in Israel, per capita income in the Palestinian Authority (PA) has plunged by at least 30 percent. Throngs of Israelis who used to flock to the West Bank on weekends to buy bargains have evaporated, and with them, some $800-$400 million of annual sales. In Israel so far, the main casualties have been the building industry, agriculture, where crops have gone unpicked, and tourism, which has lost 80 percent of its business. There has been no major outflow of foreign capital, although venture capitalists report that the inflow of investment funds has almost totally ceased. Should Israel separate its economy from the Palestinian Authority, at a time when political and military leaders in Israel are building contingency plans for a physical separation? So far, Israel has not made full use of its economic levers, but it is legitimate for Israel, virtually at war with the PA, to cut off economic relations. This would inflict severe hardship on the Palestinians. The Israel Finance Ministry estimates the Palestinian Authority would lose SO to 36 percent of its GDP, The PA has a per capita GDP one-tenth that of Israel; it is clear that the PA is not economically viable without trade with and jobs within Israel. The result of economic separation will be falling incomes, unemployment and rising poverty. The aid promised Chairman Arafat by Arab countries—even if*fully paid, a fact doubted by many observers-will only replace income lost by the PA during the current round of violence. For Israel, the end of economic relations would mean a one-time loss of about 1 percent of its GDP or about $1 billion. Foreign capital, however, does not flow into an unstable region. A major flight of capital could cut Israel's reserves in half and lead to a sixeable depreciation in the Israeli shekel. Israel's high-tech sector, which has led the recovery from the 1996-98 recession, could suffer and lead this sector to transfer its activities abroad, Still, Israel would remain a First World nation and will continue to grow its economy, while the Pnleatinians would suffer severe hardship. Along with many Israelis, I view with puzzlement and disappointment the fact that while the 2.7 million residents in the Palestinian territories have higher per capita incomes than any non-oil-rich Arab state—in largo mnusure through links with Israel's economy—thin fact
Jewish Press, Omaha, NE
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Page 20
Jewish Press, Omaha, NE
February 2, 2001
Proper Planning
Should I Elect COBRA Healtli Care . Continuation Coverage? If you are covered by an employer's group health plan, COBRA may give you the right to stay covered even if something happens, like losing your job, that would otherwise cause you to lose coverage. This continuation coverage under an employer's plan.is called "COBRA coverage." COBRA coverageusually lasts only for a limited time, and you usually have to pay for it. If you are covered by an employer's group health plan, and an event occurs that would otherwise cause you to lose that group health coverage, you :ieed to understand whether COBRA applies to your specific situation and, if so, what your rights are under COBRA. COBRA applies to most employer group health plans but not to all of them. For example, it does not apply to plans of employers with fewer than 20 employees or to church plans. Many plans of small employers, though, are subject to State laws similar to COBRA. If you are covered under a plan of an employer with fewer than 20 employees, you can contact the department or commission of insurance in your State to find out if you have rights to continuation coverage under your State's insurance laws. (Federal employees, while not protected by GOBRA, have.similar continuation coverage rights under another federal law.) What events result in COBRA rights and for how long is COBRA coverage available? Even if COBRA applies to your group health plan, it gives rights only to certain people who would be losing health coverage for certain specific reasons. Some of the most common situations that give people COBRA rights are: 8 Loss of job. If you are covered by your employer's group health plan and you lose or leave your job, COBRA generally gives you the right to stay in the employer's plan for up to X8 months. The same rights apply if you' are the spouse or dependent child of an employee who loses his or her job. (The 18-month period can be increased to 29 months if
J •
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someone in the family is disabled.) • Reduced hours. If you are covered by your employer's group health plan and your hours are reduced, the employer's plan may provide that you lose coverage unless you elect COBRA. In this case, COBRA generally gives you the right to stay in the employer's plan for up to 18 months. The same rights apply if you are the spouse or dependent child of an employee whose hours are reduced. (The 18-month period can be increased to 29 months if someone in the family is disabled.) • Death or divorce of spouse. You have the right to COBRA coverage if you are covered by a group health plan of your spouse's employer and you would lose coverage because your spouse dies or you and your spouse divorce or legally separate. In these cases, COBRA gives you the right to stay in the plan for up to 36 months. • Death or divorce of parent. You have the right to COBRA coverage if you are a dependent child covered by a group health plan of your parent's employer and you would lose coverage because your parent dies or your parents divorce or legally separate. In these cases, COBRA gives you the right to stay in the plan, for up to 36 months. • Change of Status as Dependent. COBRA also gives you rights if you are a dependent child covered by a group health plan of your parent's employer and you would lose coverage because you reach an age or condition that causes you to no longer be covered as a dependent under the plan. In these cases, COBRA gives you the right to stay in the plan for up to 36 months. If you become covered by another group health plan or by Medicare before your COBRA coverage would otherwise end, you usually lose the right to COBRA coverage. However, you do not lose the right to COBRA coverage if the new group health plan does not cover illnesses or conditions because you had them before you became covered under the plan. (Continued on page 22)
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Jewish Press, Omaha, HE
Page 21
Philanthropy Can Thrive Without Estate Tax by PAUL Q.
This article is printed with permission from The Chronicle of Philanthropy
without a surviving spouse grew 65 percent, and bequests to heirs rose 57 percent. For estates valNow that Cxeorge W. Bush is headed for the ued at $20-nul lion or more, the numbers are even White House, the estate tax and its deduction for starker: Charitahle bequests soared 246 percent, charitable bequests are likely to be short-lived, at while the value of the estates rose 135 percent least as we have known them. In his campaign, and bequests to heirs rone 75 percent. Mr. Bush promised to eliminate the tax, and ConMr. Havens also found that the mega-wealthy are gress is poised to consider revamping, if not abol- leaving bigger and bigger proportions of their estates to ishing, the levy. charity. In 1997, estates without a surviving spouse I once was opposed to such a move, counting that were valued at $20 million or more allocated 49 myself among those who view the estate tax as a percent of their assets to charitable bequests, up from catalyst for charitable giving. But I now believe 41 percent in 1995 and 34 per cent in 1992. that philanthropy would survive—and even Of course, such data do not prove that charitable thrive—without the tax. In fact, repealing it giving will continue to, increase if the estate tax is would lead to greater national and personal eco- phased out. But the numbers are evidence that nomic growth, encourage charitable giving to be reducing or eliminating the tax will not necessarily more of a voluntary act than one spurred by tax impoverish charities. incentives, and mobilize for charity the increasing Combine that evidence with a study published last affluence and philanthropic inclinations of many year by Bankers Trust Private Banking, for which Americans. Mr. Havona and I provided research assistance. In Instead of resisting repeal, charities and fund rais- the study, 112 people with assets of $5-million or ers might do better to contemplate how to become more were asked to chart both their expected and effective in an environment in which contributions can desired allocations of their estates to heirs, taxes, flow to them through a far less circuitous and expen- and charity. sive route than what the estate tax creates. On average, the respondents expected 16 percent The tax, which is levied on estates of $675,000 or of their estate assets to go to charitable organizamore—a threshold that is set to rise gradually to $1- tions or causes, 47 percent to heirs, and 87 percent million by 2006 escaped intact laat summer, when to taxes. But what those wealthy people desired was President Clinton vetoed a congressional effort to abol- altogether different. They wanted to see 26 percent ish it over 10 years. Proponents of the tax—many of their assets go to charity, 64 percent to heirs, and charity and foundation officials and financial planners only 9 percent to taxes, with an additional I percent among them—argued that eliminating it would have a to unspecified other purposes. devastating effect on philanthropy. In other words, if those wealthy people weretoget But too many people have uncritically accepted their wiah, their 76-porctmt reduction in taxes would such concerns. In fact, worries about a disastrous result in a 63-percent increase in charitable bequeata. impact on charities reflect a misappraisal of the posMoreover, the survey showed that the desire to itive effects that a reduction or elimination of the shift money from taxes to charity in stronger at estate tax would have for philanthropy, higher levels of wealth. Eespombnfca with a net For one thing, trends in charitable bequests over worth of $5 million or mare envisioned a greater the past decade indicate that a growing number of shift to charity, rather than to heirs, than wealthy wealthy Americans already are shifting their finan- people with a n e t worth below t h a t amount. cial legacies from heirs to charity. Besides such anecdotal evidence, a sound economic John Havens, my colleague at the Social Welfare argument exists as to why repealing the estate tax Research Institute at Boston College, has calcu- could spur more-and not less-giving. A key under lated that from 1902 to 1997, charitable bequests pinning of that argument is evidence that eliminatshot up HO percent, while the value of estates ing the estate tax would produce more income and
jobs, giving Americans more resources to pass on to charity. Aldona and Gary Robbins, senior research fellows at the Institute for Policy Innovation, in Dallas, estimated that abolishing the estate tax would increase the gross domestic product—a measure of economic activity—-by nearly $1 trillion during the next decade and create almost 275,000 jobs. That growth could be extremely beneficial for charitable causes. In 1999, Mr. Havens and I estimated how various rates of annual growth in the gross domestic product would affect wealth and charitable bequests over the nest 65 years. According to our most conservative estimate, annual economic growth of 2 percent would result in $41-trillion being disbursed from estates with no surviving spouse, $8-trillion of it in the form of charitable bequests. But we estimated that a rise in economic growth to our high-end projection of 4 percent would result in $136-triilion in estate assets being disbursed, $25-trillion of it in charitable bequests. Repealing or revamping the estate tax in a way that puts an end to economically unproductive estate-tax avoidance schemes would increase the likelihood that U.S. economic growth would be closer to the 4 percent projection than the 2 percent one, thus producing more dollars for charity. Doing away with the estate tax would increase not only the amount of giving, but also the quality of giving. Indeed, it would be the basis for a new era of spiritual depth in philanthropy, making the voluntary act of charity more fully a work of liberty and humanitarian care, and less the windfall fruit of a convoluted tax strategy. Certainly repeal of the estate tax will force many nonprofit inatifcutlona to become more creative in pursuing bequests. But the benefits of repeal, in the form of increased giving that is spurred by greater affluence and spiritually Inspired beneficence, rather than tax policy, .are ones that all of philanthropy should embrace. Paul- O, Schervtsh is professor of sociology and director of the Social Welfare Research Institute atBoston College. Me is currently a Fulbright Professor of Philanthropy at; University College Cork, in Ireland,
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If you make $100,000, you really make $69,000; if you make $50,000, you really make $36,000; and if you make $25,000, you really make, $21,000. What you really make is after taxes. But most investment return isn't calculated that way nor is it managed that way either, A trend among investment managers—those people who manage mutual funds, stock portfolios, and bond portfolios-is to consider taxes from the getgo. This, they say, can equate to a higher "real" return for investors. "It's a hot topic, especially around this time of • year," says Jack Yates, Executive Vice-president 'at - Pitcairn Trust Company in Jenkintown, PA. It's usually November when mutual funds and active investors begin to look at year-end tax planning. Individual and professional investors can off• set gains by declaring losses from poor performing investments. This can reduce the overall investment tax burden. Some portfolio managers claim they create lower tax burdens for investors through "low turnover." But others might say that means they're just not working a whole lot. Low turnover means the portfolio manager doesn't much sell holdings. "Low turnover can be deceiving," says Leonard Reinhart, chief executive of Lockwood Financial in Malvern, PA. "Often it just means buying a security and holding on to it; that's not being tax efficient." Tactical steps to reduce taxes is hard work. The return potential versus the option of selling, paying tax and investing in another security has to be considered. Also, transaction costs have to be noted, as well as timing. (If a stock, for example, is bought and sold within a year, it's subject to short-term capital gains, or income tax, versus long-term capital gains, or 20%.) So the distinction of tax sensitivity is important. Take the growth of a $100,000 equity portfolio managed over 30 years. Assuming a 13% annual return, that of the Standard & Poor's Index over the past 30 years, for both a taxable and a taxexempt portfolio, the results are dramatic; the taxable portfolio would be worth $1.65 million, while \$he non-taxable portfolio would be worth nearly $4 million. This example, illustrated in a recent Salomon Smith Barney report, shows that for the taxable investor 10 percentage points of return are given up in capital gains tax (three percentage points in dividends). Portfolio managers can't turn taxable accounts into tax-exempt accounts, but they can implement strategies to greatly reduce taxes and greatly enhance after-tax returns. Investors can vet man-
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agers for their tax-efficient style. Or, for those who trade for themselves, they too can take steps to minimize their own tax burdens. Yates says there are a few quick and easy things to reduce taxes. First, an investor should know when they purchased a security so they don't end up selling it a week before long-term capital gains kick in. Second, they should know all the associated costs with that transaction—ticket charges, commission costs, etc. to figure if it's worth selling or holding. Next, they should look to match losses against gains. It's this last point that demands constant attention. If someone buys a technology stock at, say, 50 with a two-year target price pf 75 and the stock gets whacked to 38 a month later, it may be worth selling immediately and matching that loss against another stock that has performed well over the year, Yates says. "You can always go back 31 clays later and buy the tech stock at whatever it's trading at. Meantime, you've locked in the credit," he says. Securities regulations prevent people from buying and selling the same security within 30 days to accrue a tax loss. This tactic of matching losses against gains, known as harvesting gains, doesn't have wait 'til fall either, Yates notes. "You can certainly monitor your portfolio all year long to avoid short-term gains and minimize income," he says. "Most people don't put it all together until April," Reinhart says. "By then, it's too late." Still, with all that said, the SSB report reminds: "Many analysts say investors should try to improve their 'tax efficiency' by reducing the difference between their pre-tax and their after-tax returns as much as possible. But focusing only on tax efficiency can be a mistake. Poor performance can more than offset any tax savings." It's about this time of year when mutual funds will be making tiieir distributions to shareholders. 4nd with such a tumultuous year in the stock market, you can bet many will be touting "tax savings" not "poor performance." But that's what they're really saying.
CQBBA Coverage? (Continued from page 20) What are 1 the requirements for obtaining COBRA coverage? • Cost of COBRA coverage. If you elect COBRA coverage, the plan can require you to pay for the entire cost of coverage, plus a small (2%) additional charge for administration. (If you are getting a longer period of coverage because of disability, you may have to pay more.)
February 2,2001
IRS Expands E-filing, Emphasizes Free Taxpayer Help WASHINGTON-Prom a new paperless e-filing option to expanded customer service features, taxpayers will find more and easier ways to get help from the Internal Revenue Service during this year's tax filing season. This week marks the beginning of 2001 filing season. More than 40 million tax packages have started arriving in mailboxes across the nation. The tax packages and forms reflect the small number of tax law changes for 2000. But the IRS has made a number of improvements aimed at making this tax season smoother for people filing an estimated 130 million individual returns this year. "The IRS has streamlined several important areas to reduce paperwork and cut, red tape," IRS Commissioner Charles 0. Rossotti said. "We are determined to improve service and take as much of the headache out of tax time as possible." This year, the IRS will help taxpayers by: Expanding E-filing. For the first time, millions of taxpayers can file taxes electronically without submitting any paperwork. This new version of paperless filing will be available to taxpayers who selfselect a Personal Identification Number. The Self-Select PIN-tilong with the adjusted gross income and tax amounts from last year's tax return-will serve as an electronic signature for an e-filed tax return. Adding A New Checkbox Disclosure Authorization. A new feature on the tax forms will be a checkbox allowing easier communication between a person's tax prepar&r and the IRS. Taxpayers may check this box to authorize the IRS to discuss processing problems over the phone directly with a person's paid prepare**. With more than half of tax returns coming from paid preparers, this change eliminates a barrier that slowed communication between taxpayers, practitioners and the IRS. Because the IRS can talk directly to practitioners, the checkbox will reduce tho number of IRS letters to taxpayers. Improving Telephone Service. The IRS is putting in place un improved call-routing system that will load to more, efficiency and help more taxpayers get bettor telephone service. This is one of the highest priorities during the IRS reorganization and modernization effort. More work remains, but the IRS is taking steps forward to provide better, phone-service. "These changes add up to making things easier for taxpayers," Rossotti said. "We still have more work to do, but we are making progress in our effort to provide world-class service." Free Tax Help Around the Clock Throughout the 2001 filing season, the IRS will provide telephone help 24 hours a day, seven days a week at 1-800-829-1040. Several other toll-free. services are available day or night, such as automated refund information- and TeleTax's recorded information on common tax topics (1-800-820-4477) or requesting copies of forms and publications (1-800-TAX-FORM or 1-800-829-3676). The IRS has also added more features and helpful information on its award winning web site at www.irs.gov. "Taxpayers can count on the IRS to get help around the clock, whether it's from the Internet or-our toll-free services," Roasotti said. If you prefer to visit an IRS office, walk-in service is available at more than 400 locations nationwide. At many si tern, walk-in service will be offered on 12 Saturdays between Jan. 27 and April 14. This year's tax deadlines will be April 18.
Taxpayers get an extra day because April 16'falls on a Sunday. E-fUing*s Speedy Refunds Available for more Taxpayers With the help of new features such as the SelfSelect PIN, E-filing will be easier than ever this year. The IRS has added 23 new forms this year that can be filed electronically, meaning almost all taxpayers can now use e-file. More than 35 million returns were filed electronically last year, and the IRS expects the number to top 42 million this year. Taxpayers who E-file get their refunds in less than half the time of paper returns. When choosing direct deposit with o.-file, taxpayers get refunds in an average of 14 days. "The secret to getting the fastest refund is to file early, use E-file and choose direct deposit," Rossotti said. "More and more Americans im; discovering that E-filing is fast, easy and accurate." E-filed returns are more accurate because math errors, one of the most common tax return mistakes, are caught automatically. The result? Taxpayers who E-file are far l«sa likely to got a letter from the IRS than those filing a paper return. More Taxpayer Help in the Years Ahead This marks the first filing season since the IRS reorganized in October, 2000. Tho agency underwent its biggest transformation in nearly a halfcentury, shifting from a geographically-based organization into one built around the needs of four different groups of taxpayers. One change is that people in a few states will mail their paper tax returns to a diffmmt IRS c<mter. As in previous years, simply use the pro-printed envelope in the tax package or check the. stateby-state listing in the package. In tli© long run, taxpayers will see new ways of doing buflinoHS m tho IRS puts in placo new programs and now technology to improve taxpayer service, with a special emphasis on solving problems before they start. Throughout this proctuts, the IRS will rontinut* to work to make sure everyone pays their fair share while also ensuring taxpayer rights are rospoetod and. safeguarded. "In the years ahead, the new organization will create an opportunity for revolutionizing how the IRS meets the needs of taxpayers," RosaotM anid. "For this year, we'll work hard to niukn suro these changes move forward while ensuring that taxpayers still receive prompt service and refunds (hiring the 2001 filing season,"
Jewish Press, Omaha, NE
Page 23
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Jewish Press, Omaha, NE
February 2,2001
World Travelers Believe in Helping Jews at Home by CLAUDIA SHERMAN, Foundation Public Relations C o o r d i n a t o r , i , ^ , M . » m , , n ,
Ruben and Louise Lippett have seen much of the world during their 52 years of married life. Ruben lippett is a retired businessman, a World War II veteran, and a volunteer. Louise Lippett worked alongside her husband at Iippetts Bottle Shop and has spent some 30 years volunteering. A native of Oakland, NE, Ruben, moved to Omaha when he was eight years old with his sister and Ms parents, Harry and Anna. A Central High School graduate who also attended Creighton University for two years and went on to graduate from the University of Nebraska at Lincoln, Ruben served in the infantry in Europe during the war. Toward the end of Ms five years of military service, he was assigned to the 71st Infantry Division, a unit that was part of General George Patton's Third Army. On May 5, 1945, the 71st liberated Gunskirehen, a subcamp of Mauthausen Concentration Camp. Captain Lippett was asked to ride with his commanding officer that day. About two miles from the camp, Lippett explained in a previous Jewish Press interview, "former inmates were wandering about, hundreds were dead on the road. . .there was confusion, turmoil, survivors, troops." Lippett said his first reaction was disbelief. He couldn't believe "they could do this to people. I knew at this time that most of the dead and near dead were Jews." Among their travels, Lippett and his wife returned 50 years later, joining other veterans of the 71st for a reunion that retraced their path through Europe. They also had an emotional meeting with survivors at Gunskirehen. After World War II ended, Ruben ran Iippetts Market, a grocery store at 25th and Davenport, with bis parents from 1946 to 1964. After the interstate was built, forcing them to close the grocery store, Ruben opened Lippetts Bottle Shop on the northeast corner of 72nd and Dodge. He sold his business in 1975 and went to work for Nebraska . Wine and Spirits as the wine manager, where he remained for 15 years.
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Ruben retired in 1991 to be at Louise's side when she was experiencing health problems. Both Ruben and Louise, a native Gmahan, have spent years volunteering for community organizations. Ruben has helped at the Red Cross Blood Center and Methodist Hospital and advised people who want to start businesses through SCORE {the Service Corps of Retired Executives) sponsored by the Small Business Administration. Louise, a former Grey Lady at the old Methodist Hospital, received a 20-year pin for her work at the hospitaTs gift shop. Ruben is a past president of the Henry Monsky Lodge of B'nai B'rith and Louise is a life member of Hadassah. Parents of two grown children, Mark and Sharon, the Lippetts are members of Beth Israel Synagogue. Recently, the Lippetts decided to create a n endowment fund to be administered by The Foundation of the Jewish Federation. The Lippett Family Endowment Fund will be used to aid and assist Jewish senior citizens living in the Omaha area who have special needs, particularly, but not limited to, medically-related needs and those who require financial assistance. The fund's income can be used to help residents of the Rose Blumkin Jewish Home as well as Jewish seniors who do not live thereMrs. Lippett pointed out that it's surprising how many Jews in the area are in need of financial assistance to afford health necessities. "We know there are older adults in our community who definitely can benefit from this fund," said Shane Kotok, Jewish Senior Services Director of Outreach Services. T h e income could be used to buy a hearing aid, for instance, or to help someone who's living on a limited income buy prescription drugs," she added. "Jews need to help Jews," the Lippetts believe. "We want to do something that we felt was a neglected field," Mr. Lippett added. They both agreed that it feels good to be able to help.
February 4, 2001
The JewieSi Fstfcratira a Omaha
by JEWISH PRESS News Service
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In response to the major earthquake that struck El Salvador last month and India last week, United- Jewish, Communities (If J O , through its . overseas arm,, has opened a mailbox ts collect funds for victims and their families. The American. Jewish Joint Distribution Committee {JBC} will collect relief faads on behalf of OJC aad the Jewish. Federations of North America. The JBC will work with a coalitioa of Jewish organizations to meet the challenges of these crisis. Tens of thousands of-people have been left homeless throughout El Salvador and the death toll is expected to reach more than 20,000 in India. The Health .Ministry is concerned about the possible outbreak of disease. Donations should be seat to the JDC mailbox at: JBC, 711 Third Avenue, New York, NY, 10017. Checks should be payable to JDC-E1 Salvador Relief Effort or the JDC-Indai Relief Effort. In addition, payments by credit card can be made on the JDC website; www.Jde.orgv UJC President also praised fee Israeli government for its humanitarian efforts to. meet the situation both in El Salvado and India. The Israeli response includes medical teams to assist the victims of the earthquakes, as well as shipments of medicines and medical supplies. The American Jewish Joint Distribution Committee and the American Jewish World Service are collecting contributions to help victims of the earthquakes. Further information is available at www.jdc.arg and www.4fws.0rg. Chid care - One of the most important decisions parents maKe. Check t otitj NEBRASKA HEALTH AND HUMAM SERVICES SYSTEM
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