Harold and Adele Blumenkrantz of Monroe felt as they got on in years they wanted to make a statement reflecting their lifelong commitment to the Jewish community.

"We felt it was something we needed to do," said Harold Blumenkrantz. "We wanted to share some of our good fortune."

So the couple set up a $100,000 charitable gift annuity with the Jewish Federation of Greater Middlesex County, providing themselves with both a tangible and emotional return on those funds.

Planned gifts like the Blumenkrantzes' have become an increasingly important component of Jewish fund-raising campaigns, including that of the Middlesex federation. The Chronicle of Philanthropy has noted a growth in the number of donor-advised funds, charitable remainder trusts, and other types of planned giving.

Such gifts tend to allow donors to make a lasting impact on an organization, while receiving an income stream from the interest earned on the money.

A charitable gift annuity is in essence a "contract" between the donor and the federation, according to its executive director, Gerrie Bamira. In exchange for contributing cash or stocks to the federation, that donor will receive a guaranteed fixed income for life.

"For the rest of your life you're guaranteed a high rate of return paid quarterly," she said. "That rate never changes, and it is a much higher rate of return than on a savings account or CD. A significant part of it is tax-free. People often give several over a lifetime, staggering them as they get older."

That rate is higher the older the donor — who must be at least 60 — is when making a gift. For those 65 the rate is 6 percent; for those who are 85, the return rate is 9.5 percent. The donor also gets a significant tax deduction the year the gift is made.

"It works because it is a national program guaranteed by all the assets of the federation," said Bamira. "Just as important, it guarantees the future of the Jewish community and serves as a guarantee of Jewish life and educational programs in our community, abroad, and in Israel." The federation receives the full amount of the annuity upon the death of the donor.

Bamira noted that 10 years ago the Middlesex federation became the first in New Jersey to be licensed by the state. During that period, interest has remained strong in such annuities, resulting in "many dozens" of gifts ranging from $10,000 to $500,000.

Bamira called the Blumenkrantzes "a charming couple with a philanthropic heart," adding, "Their generosity will impact this community in a very positive way. It is an example of how to do good for the community and for yourselves. It is a win-win situation."

The couple also gave another $100,000 gift annuity to Memorial Sloan-Kettering Cancer Center, where Adele Blumenkrantz's mother was successfully treated for breast cancer many years ago.

However, it was the couple's strong commitment to Israel that prompted its gift to federation.

"We thought Israel needed as much help as it could get," said Adele Blumenkrantz. "We wanted to further our Jewish commitment."

Harold Blumenkrantz said the couple, who moved to Concordia from Teaneck, chose the federation because they now live in Middlesex County.

"We met with Gerrie, and she told us how the funds would be used," he said. "We felt this was the place we wanted our money to go."