Jewish Community Foundation 2010 grants exceed $4 million
By JULIE DIAMOND
article created on: 2010-11-01T00:00:00
The Oregon Jewish Community Foundation granted more than $4 million in fiscal year 2010, ending June 30. The grants came from both endowed funds and donor advised funds, with a total of $3.7 million from the donor advised funds.
These dollars provide much needed help to support and enrich the lives of people of all ages in Portland, around Oregon, in Israel and other areas around the world. These grants contribute to advance the outstanding work of the Foundation’s 25 member agencies, including Jewish Federation of Greater Portland, Cedar Sinai Park, Jewish Family and Child Service, and many more.
In keeping with the Jewish values of helping all those in need, donor advisors also directed grants to organizations such as Providence Health, Oregon Food Bank, Portland State University, OHSU Cancer Institute, Ronald McDonald House, Portland Art Museum, Portland Center Stage and Legacy Good Samaritan Foundation (Hopewell House).
OJCF endowment grants for the fiscal year totaled $184,195. The funds came from the Foundation’s Community Endowment Fund, the Leonard and Lois Schnitzer Supporting Foundation, Friendly Rosenthal Fund, First Hebrew Benevolent Fund and the Oregon-Israel Fund. The scholarship grants from Arthur P. Krischevsky Memorial Scholarship Fund, the Albert Kailes Scholarship Fund and the Rebecca and Sada Tarshis Memorial Scholarship Fund totaled $114,000.
For the period that ended Sept. 30, 2010, OJCF had a total of $39,596,107 in assets under management. The Foundation’s banking partner and advisor for foundation investments is First Republic Bank. The annual independent audit by Hoffman, Stewart and Schmidt, P.C. was completed in July 2010, and found no material issues of concern.
The Foundation’s board, under the direction of President Eric Rosenfeld, and professional staff continue to work together on the four key goals of the OJCF Strategic Plan developed in 2009 under the leadership of then president Stan Geffen.
“The goals are 1) grow total assets under management to $75 million by 2015; 2) improve our community’s understanding of OJCF’s mission and services through more effective education and engagement; 3) increase our board’s involvement in OJCF to help strengthen the Foundation’s visibility in our community; 4) review, revise and update our OJCF policies,” stated Rosenfeld, who contributed to the development of the OJCF Strategic Plan.
The OJCF Policy Task Force, chaired by Jim Meyer, is reviewing and updating OJCF policies, including the structure of donor advised funds, endowment calculation methods, and streamlining the processes for awarding scholarship funds. The task force is also evaluating and revising the Foundation’s policies for Charitable Gift Annuities. CGAs provide fixed income for life and the benefits of tax savings from a charitable tax deduction. They also are intended to create an endowment after the death of the annuitant. These are particularly attractive for individuals over 70 years of age. OJCF currently offers CGAs and handles the investment of funds and administration of annuity payments. Members of the Policy Task Force, in addition to Meyer, are Ben Isenberg, Sharon Morell, Stan Blauer, Eric Rosenfeld, Ilene Davidson and Steve Gradow.
OJCF’s award-winning teen philanthropy program, OJCYF, kicked off its eighth year this fall with 28 teens from across the community connected by their desire to put in action their Jewish values and learn firsthand about non-profits through site visits, fundraising and grant-making. This year, Jonathan Emanuel has joined the OJCYF team as an adult advisor, in addition to Julie Diamond, the interim executive director of the Foundation. Emanuel continues in his other roles as a youth director and educator, including serving in this capacity at Congregation Neveh Shalom and leading the Portland Jewish Youth Initiative. Foundation board members Sharon Morell, Rob Shlachter and Mike Tannenbaum are part of a newly formed OJCYF advisory committee. Several OJCYF teens recently volunteered at Hand to Hand and will help at Jewish Federation’s Super Sunday annual phonathon on Dec. 12.
The PJ Library, continues to engage families with young children in meaningful Jewish experiences “one book at a time.” The program provides free monthly mailings of high quality Jewish books and music to families with one Jewish parent and children up to the age of 6. The program is funded by individual donors, the OJCF Community Endowment Fund, the OJCYF and the Harold Grinspoon Foundation. PJ Library has touched the lives of nearly 1,000 children in our community.
As the year end approaches and you review your tax and financial matters, consider supporting your community through the many possibilities at OJCF. These including donor advised funds, charitable gift annuities, charitable remainder trusts and charitable lead trusts, for example.” Consult with your professional advisor for more details and visit www.ojcfgift.org for information and resources.