The Newly Designed
1994 DeVille Concours
SLUMP page 35
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"Developers who had the
toughest times during the last
three or four years have either
sold their real estate holdings,
gone out of business or changed
their approach by going public,"
said Michael Horowitz, presi-
dent of the Selective Group, a
real estate development firm in
Farmington Hills and chairman
of the Allied Jewish Campaign's
real estate division.
"Some developers in the of-
fice and commercial business
are going through difficult
times, and that may affect what
they are giving to charities," Mr.
Horowitz said. "The malaise
we're seeing in the nation's
economy is creating uncertain-
ty, and in general, if people are
not optimistic, they don't open
stores or restaurants."
In recent years, the down-
turn in the real estate markets
it doesn't show a trend.
"If you take a look at real es-
tate as an economic pocket that
is in a bit of trouble, the consis-
tency tells you something," Mr.
Gelfond said. "The fact that the
real estate division held its own
over the last two years is a pos-
itive surprise. The solid base of
support people in the real estate
business have toward the Jew-
ish community, even amid an
economic siege, is impressive."
One way the Federation has
compensated for the recent re-
cession, higher taxes and other
factors tugging at the pocket-
books of donors is to broaden
the scope of its fund-raising ef-
forts to bring younger people
into the fold.
After attending a Federation
seminar on finance last year,
Stuart Raider said he was in-
s ired to make a 50 000 gift in
THE
94
s have arrived...
at
Rinke
p
REAL ESTATE
DIVISION CONTRIBUTIONS
TO
ALLIED JEWISH CAMPAIGN
YEAR
AMOUNT RAISED
NUMBER OF CONTRIBUTORS
1990
$5.6 MILLION
727
1991
$5.2 MILLION
704
1992
$5.2 MILLION
709
1993
$5.2 MILLION
720 (PROJECTED)
:
1994 Sedan DeVille
1994 ELDORADO
SOURCE: JEWISH FEDERATION OF METROPOLITAN DETROIT
and the related decrease in
charitable gifts has led to a
transformation in the way fund-
raising organizations market
themselves.
Federation has
broadened the
scope of its
fund-raising
efforts.
Charity officials report that
the recession and other factors
have caused large gifts to di-
minish in frequency and size.
To offset this downturn, chari-
ties have broadened their use
of newsletters, direct-mail
pieces and other marketing
tools. The approach has led to
more gifts of smaller size, and
in some cases, increased annu-
al contributions.
"Those in the real estate
world contributed an addition-
al $125,000 to our challenge
fund last year," Mr. Gelfond
said. "The annual gift amounts
(to the real estate portion of the
Campaign) have leveled off, but
the form of a life insurance pol-
icy that listed as beneficiary the
United Jewish Foundation.
For the gift, Mr. Raider re-
ceives a sense of well-being and
an income tax deduction. He
also plans to pay the annual
$500 premium on the policy.
"The insurance plan allows
an average donor the opportu-
nity to give more than what
might be possible at a given
time," said Mr. Raider, 34, vice
president with Raider-Dennis
Agency, an insurance firm in
Farmington Hills. "It allows me
a chance to give a bigger gift
than my means. It was a very
easy procedure."
Meanwhile, Leo Maxbauer,
an area banker, said he and his
wife, Terri Farber, recently gave
a gift to a philanthropic fund set
up by the Federation.
"Being a banker, I under-
stand the impact of a business
cycle when it goes from good
times to a recession and the im-
pact that it can have on certain
community groups," said Mr.
Maxbauer, 38. "My wife and I
will add to the fund in coming
years, but future contributions
depend on our tax position and
other factors." El
1994 SEVILLE SLS
24
g
A*
Month
Lease
....
52 4
MONTH
. . . .
*GMAC SMARTLEASE 24 months. First pymt. plus $550 ref. sec. dep., $2,000.00 down plate of transfer fee due
on delivery. 4% state tax additional. Mile limitation of 30,000. 100 per mile excess charge over limitation. Lessee
has option to purchase at lease end. To get total payments, multiply payment by number of months.
R
INKE CADILLAC
I - 696ATVANDYKE
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191
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7 5 8 — 8 0 0
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If traveling west on 1-696, exit Hoover, follow Service Drive to RINKE.
If traveling east on 1-696, exit Van Dyke; take second bridge past Van Dyke over expressway to RINKE.
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