CJP Investments Fall by $49m
from Boston Business Journal:
Total support and revenue at Combined Jewish Philanthropies of Greater Boston Inc. fell 65 percent in fiscal 2009 after the nonprofit suffered unrealized losses of $49.3 million on its investments.
CJP of Greater Boston reported total support and revenue of $41.1 million for the year ended June 30. That compared with $117.1 million in the year-earlier period, according to an audited financial statement recently made available.
Investment losses aside, the nonprofit’s total donor support also was hurt by the downturn in the economy, falling to $84.4 million in fiscal 2009, compared with $106.7 million in fiscal 2008. Gifts and bequests during fiscal 2009 were $40.3 million, down from $61.1 million in fiscal 2008, according to CJP’s financial statements.
CJP ended fiscal 2009 with $541.6 million in assets. Most of that amount, some $479 million, was classified as investments. Total liabilities were $77.8 million.