Articles of interest
A Foundation for the future
By Barbi Green-- Ten years ago, Vision magazine profiled three philanthropic trailblazers in a story about a bold and unprecedented gift to the Jewish Foundation of Greater Toronto.
Driven by shared values, priorities and a mutual desire to help build a thriving Jewish community, Morris Perlis, Allan Silber and Ed Sonshine (Counsel Corporation’s then President, Chairman & CEO and Vice-Chairman, respectively) made a record donation of $10 million in personal stock to establish the first donor advised funds.
The gift, which took advantage of the Federal government’s then drastic cuts to capital gains taxes for donated securities, brought the Foundation’s assets to $71 million and opened the floodgates for similar donations.
Chaired at the time by David Goldstein, the Foundation’s assets grew from $71 million to over $200 million today. Now chaired by Honey Sherman, the Foundation encompasses over 490 individual funds and has over $160 million in planned gifts (designated as bequests in wills or donated life insurance policies). In addition, every year the Jewish Foundation distributes millions of dollars to support organizations and programs across Canada, Israel and around the world.
The growth has been both dramatic and profound. And just as the Jewish Foundation has flourished, so too have the three families that raised the charitable bar in Toronto a decade ago. Ten children, ten daughters and sons-in-law and 15 grandchildren later, the spirit and tradition of giving continues.
Indeed, the Perlis, Silber and Sonshine children, together with their spouses, are embracing philanthropy and their community – seeking out projects and roles that resonate and inspire.
When Alan, Herschel and Nathan Perlis decided to collaborate on a fund with the Jewish Foundation, camp was the obvious focus.
“For me and my brothers, and our wives, camp was probably the most integral part of what created our background, our Jewish being,” said Alan.
“We wanted to help people who couldn’t have the same experience that we had, because for us, this was the most important experience growing up.”
Every year, the three couples will contribute to the newly-created Perlis Family Camp and Community Fund, with two-thirds dedicated to camp scholarships and the remainder to building the fund’s capital.
For the next generation of Sonshines, a strategic restructuring of their parents’ fund has placed increased responsibility for grant-making in their capable hands. For Daniel Sonshine, the current co-chair of UJA Federation’s Jewish Chamber of Commerce, this new challenge has allowed his family to dream bigger, broadening their scope to include United Jewish Appeal, Mount Sinai Hospital, Zareinu, and a new program they’re spearheading at the Speech and Stuttering Institute.
While individual interests and circumstances undoubtedly impact their charitable choices, their parents’ actions remain the common denominator.
“Philanthropy and charitable work have always been a huge part of our parents’ lives,” said Daniel. “I remember being a bit amazed when they made that Foundation gift ten years ago. It showed me just how important giving really was to them. As a result of their lifelong approach to charitable work, community involvement and philanthropy have always been things that I value.”
“For my parents, when it came to tzedakah, it wasn’t a matter of if, but a matter of where,” said Josh Silber. “In our own unique ways, I hope my siblings and I will be as effective as my parents were in stressing the importance of giving.”
Alan Perlis echoed the sentiment when it comes to his growing brood.
“I hope that they’ll continue the giving, continue the tradition that was started by my parents and passed on to my brothers and our wives,” he said, “that we’ll raise them as well as our parents raised us to understand the importance of giving and philanthropy and helping others.”
| The Next Generation of the Silber, Sonshine and Perlis Families |
(L-R) Ed Sonshine, Allan Silber and Morris Perlis |