Q&A with Foundation Trustee Jeffrey Loeb

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by Jeffrey Loeb, Foundation Trustee and family wealth consultant, Loeb & Loeb LLP

One secret to maximizing the power of a charitable investment is finding out where experts in the field turn for savvy financial advice. Noted estate planning attorney and member of our Board of Trustees Jeffrey Loeb relies on The Foundation, leveraging its resources and track record of success with strategic philanthropy. Through their Donor Advised Fund (DAF), Jeffrey and his wife, Janet, look to The Foundation for insight on making a lasting difference in Los Angeles and beyond.

We recently sat down with Jeffrey to talk about his partnership with the organization and his family’s focus on building a philanthropic legacy.

THE FOUNDATION: You have a unique view of The Foundation as both a trustee and donor. What do you see as the value of having a Donor Advised Fund with us?

JEFFREY LOEB: For Janet and me, it was, in part, a practical decision: The Foundation makes giving so easy. Once everything is set up online, we advise about the donations we would like it to make from our DAF, and then it makes sure the recipient is a tax-exempt organization that meets its broad criteria for the receipt of donations. From there, The Foundation takes care of making the disbursement to the recipient and, if we have requested it, having it made in honor, memory, or recognition of someone. It’s a big benefit for us because we make many smaller gifts each year, so instead of having to research and keep track of everything (like how and where to give), The Foundation offers us a one-stop shop.

I think there’s another compelling reason to open a DAF here as well. Part of the fee The Foundation charges for its work is ultimately used, along with other resources, to make meaningful grants in our community and in Israel. So the funds we contribute through our DAF go even further, helping more people and fostering a culture of sustainable community support.

The funds we contribute through our DAF go even further, helping more people and fostering a culture of sustainable community support.

THE FOUNDATION: What are your main areas of philanthropic interest?

JL: We give to a broad range of causes, but generally speaking, we like to support organizations engaged in medical research, the arts, educational institutions, environmental organizations, humanitarian causes, and Jewish agencies.

THE FOUNDATION: How has your service on our Board shaped your impression of The Foundation’s effectiveness?

JL: Especially during COVID, the needs of nonprofits across our community have spiked. I’m so thankful that The Foundation has had the wherewithal and agility to respond to those needs, funding the shortfalls many organizations have experienced. I sit on committees that review grant applications submitted by a sizeable number of deserving charitable organizations. In our decision-making process, we spend a considerable amount of time reviewing the merits of each application. This enables us to ensure our grants are tailored to cover costs that will help an organization become self-sustaining, targeted for the achievement of The Foundation’s broader goals and hugely effective in addressing a wide range of needs in our community.

THE FOUNDATION: You mentioned “agility.” Why is being flexible such a critical component of successful grantmaking?

JL: In a typical year, The Foundation does its grantmaking in a particular way. But these last couple of years have been far from typical, and the requests for support we’re seeing reflect that. We decided early on that one of our metrics for success would be our ability to respond quickly. When an organization is struggling, all the money in the world won’t matter if it doesn’t come at the right time.

About Jeffrey Loeb

Jeffrey Loeb is a partner at Loeb & Loeb LLP. He practices in the areas of estate planning and trust and estate administration, representing many high net worth individuals and families. Mr. Loeb focuses on helping clients develop a plan for the orderly transfer of assets during life or upon death, emphasizing the preservation of family wealth through the minimization of federal gift and estate taxes.

This article was featured in The Foundation’s Fall 2021 Legacy Magazine.