Jewish Communal Fund (NY) Granted $329m in FY 2014
The Jewish Communal Fund (JCF), the largest Jewish donor advised fund in the country, distributed a record $329 million in grants to charities in all sectors during the 2014 fiscal year ending June 30, 2014. This represents an increase of 17% in grant dollars as compared to the previous year. In addition, JCF fund holders recommended a record-number of grants – 39,000 – to charities in all sectors, a 10% increase from 2013.
“The incredible growth in the number and amount of grants distributed in fiscal year 2014 reflects the enormous reach that Jewish Communal Fund has, both in the Jewish world and in the secular community,” said Susan F. Dickman, Executive Vice President and CEO of Jewish Communal Fund. “We expect this trend to continue in the year ahead as we introduce a new and improved Donor Portal that will make it easier and more efficient than ever for our fund holders to make grants online.”
A leader in the world of Jewish philanthropy, JCF continues to be the largest and most active Jewish donor advised fund in the country with over $1.2 billion in charitable assets under management. In FY 2014, JCF distributed 27 percent of assets, well above the industry average.
While grants were distributed to charities in all sectors, the largest categories of grants by dollar amount went to community organizations, education and international/Israel-based charities.
In addition to the generous grants recommended by its fund holders, JCF awarded a community gift of $2 million to the UJA-Federation of New York’s Annual Campaign to help those in need in at home and abroad.
JCF’s institutional endowment, known as the Special Gifts Fund, awarded an additional $550,000 in grants to projects and agencies in the New York Jewish community in FY 2014. This included a $300,000 grant to help MJHS construct the first hospice inpatient residence in New York City to care for children as well as adults and name its Care Coordination Center. JCF is proud to support an organization that will bring comfort to families at a supremely difficult time in their lives. MJHS is one of the few hospices in the area to provide care to children who are still seeking curative treatment (also known as concurrent care.)
In 2014, the JCF Special Gifts Fund also granted $250,000 to the UJA-Federation of New York’s “Enhanced Support Services for Jewish Single-Parent Families Initiative.” Single-parent families represent a critically undeserved demographic with unique needs and challenges. UJA-Federation of New York’s Special Report on Poverty found that there are 25,000 people living in poor or near poor single-parent Jewish households, representing 24 percent of the near poor Jewish population. The goal is to provide a central location where single parents can access a wide array of services including emergency cash and food assistance, public benefits screening and enrollment, case management, legal services, financial counseling and employment training.
JCF Adds Mission-Aligned Investment Options; New Philanthropic Resources
JCF provides its fund holders with a wide array of best-in-class investment options in several asset classes. Recent additions to the JCF Investment Platform include mission-aligned investment options such as Israel Bonds and the Market Vectors Israel ETF. Charitable assets are invested and grow tax-free until the fund holder makes grants to charity.
JCF continues to be a leader in fostering support for innovation in the Jewish community. JCF recently published “Funding Jewish Innovation: A Resource Guide,” which provides concrete steps for finding and funding innovative Jewish projects and organizations. The Guide can be downloaded for free at www.jcfny.org/innovation.