Jewish Communal Fund NY Sends Out Record-Breaking Number of Grants in FY 2018
The Jewish Communal Fund (JCF), the largest Jewish donor advised fund in the country, distributed a record $435 million in grants to charities in all sectors during the 2018 fiscal year ending June 30, 2018 – a nine percent increase from 2017. JCF Fundholders recommended a record-number of grants – 58,224 – to thousands of charitable organizations, a 10 percent increase from 2017. The average grant amount was $7,467.74.
“More and more charitably-minded people are recognizing the benefits of using a donor advised fund to manage their charitable giving in a tax-advantageous and efficient manner,” said Susan F. Dickman, Executive Vice President and CEO of Jewish Communal Fund. She credits much of the increase to the new tax law and strong stock market gains. “Our goal is to help our Fundholders be more strategic and thoughtful in their charitable giving, and achieve their vision for making the world a better place.”
JCF continues to be the largest and most active Jewish donor advised fund in the country with close to $1.7 billion in charitable assets under management. In FY 2018, JCF distributed 25.5 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 were directed to charitable organizations whose missions focused on education, Israel/international, and community organizations.