Five Reasons Why Hindu Heritage Endowment Is Your Best Choice for Giving to Support Hinduism Worldwide
Hindu Heritage Endowment (HHE) is not simply another Hindu institution requesting your financial support. Rather it is a foundation that has developed a number of creative ways that enable you to more effectively support your favorite Hindu charities as well as enable the institutions themselves to establish more secure endowments.
1. Global Reach
Holds endowments that benefit Hindu institutions and activities worldwide.
Hindu Heritage Endowment currently holds over eighty endowment funds that benefit temples, ashrams, monasteries, orphanages, homes for the elderly and publications in Bangladesh, India, Malaysia, Mauritius, Pakistan, Sri Lanka and the United States. Having a combined market value of over $13 million, these funds show the global reach and unique diversity of the many institutions that are benefited in large and small ways by HHE. Most other Hindu endowments are limited geographically.
2. Life Income Plans
Charitable Remainder Trusts and Charitable Gift Annuities can be used to fund an endowment which would benefit institutions located in any country of the world.
Charitable Remainder Trusts and Charitable Gift Annuities can be used to provide life income to selected individuals with the remainder going to an existing HHE endowment or used to establish a new endowment benefitting Hindu institutions and activities worldwide selected by the donor. No other Hindu-based institution offers these options.
3. An Alternative to Direct Donations to Foreign Hindu Charities
Support a foreign Hindu charity and receive the same tax advantages as when supporting a US charity.
A direct donation to a foreign charity provides no charitable deduction and is not able to utilize gifts of appreciated stock. HHE has created an alternative method which provides the same amount to the foreign charity as a current gift and utilizes the tax savings to create an endowment providing additional permanent income. Tax savings include the charitable contribution deduction and, in the case of appreciated securities held a year or more, avoidance of all capital gains tax. The maximum portion of the donation that can be granted to the foreign charity is 70%.
4. True Versus Quasi Endowment
Create a true endowment with general contributions.
Many Hindu institutions set aside a portion of current income in an endowment to provide future support. However, as the donor did not direct the donation to the endowment, it is a quasi or board designated endowment and can be spent by current or future governing boards. This type of endowment clearly does not provide financial security for the future. An alternative is for the institution to use a portion of current income to create a true endowment at HHE. These funds are invested in perpetuity and cannot be spent and therefore provide great security for the institutions future. Many temples and institutions would beneift from moving their endowment funds to HHE for permanent security.
5. Greater Financial Stability
Investments in US financial markets.
For Hindu institutions outside the US and individuals in foreign countries wishing to establish an endowment for a local institution, HHE provides an alternative to investing in their national currency and national financial markets. HHE's investments are in US dollars and in the US financial markets, thus providing protection against currency devaluation and the greater fluctuations of foreign financial markets. Endowments in countries like Malaysia or India have devalueated significantly in recent years, and moneys transfered to HHE would enjoy protection against such erosion of principal.