The following is a reprint of the JCF's Money Matters column, published in the January 24, 2024 issue of the Jewish Community Voice, titled, "2023 Was a Great Year for the JCF, with 2024 Looking Strong too":
Thank you for your support of the South Jersey Jewish community, this year and every year.
For this column, please first note these highlights in the exciting six months ahead for the Jewish Community Foundation, Inc.:
• JCF Scholarship Awards: Local scholars aged 13+ may apply by March 8 for our array of financial awards for post-high school education, Israel travel, and technology. Visit jcfsnj.org/scholarships to apply.
• Spring JCF Grants: Nonprofits and synagogues serving South Jersey may apply by March 15 for up to $5,000 per application to use for new and innovative programs and services. Learn more at jcfsnj.org/grants
• Florida Reunion: To our friends in Southeast Florida, get ready for the 27th annual Florida Reunion! Details will be announced separately, but note that representatives of the JCF and Jewish Federation of Southern New Jersey will be visiting the week of March 11, with a variety of programs scheduled. It’s sure to be an eventful week!
• Life & Legacy Plus: Thanks to the more than 600 community members who have committed to leaving a legacy gift to any of the 23 participating Jewish organizations, our Jewish future remains bright. Please consider committing to a legacy gift by March 31 if you have not done so already, and you may earn incentive dollars for the beneficiary organization(s) you choose. It can be easy to do and cost you nothing during your lifetime. Check out jcfsnj.org/life-legacy for more details.
That’s a look ahead, now let’s also review JCF’s recent Fiscal Year (Oct. 1, 2022-Sept. 30, 2023):
The JCF manages endowment funds and donor advised funds for individuals, families, and organizations who aim to make the world a better place. We are a supporting organization of the Jewish Federation and its family of agencies, but we also support Jewish and secular organizations of all stripes by way of grants distributed from our more than 500 funds.
Donor advised funds (DAF) centralize charitable giving into one convenient online account. With a DAF, you can make tax-deductible contributions into the fund this year, and recommend grants at any future time, such as for your annual JFund gift to the Federation, your synagogue dues, or other cherished causes. (Don’t have a DAF? If you make multiple charitable gifts each year, you’ll love having one.)
Endowment funds, on the other hand, are designed to last for many decades. Each endowment provides annual support of the donor’s designated cause by paying out a percentage (usually 5%) of the fund’s average balance over the past 12 quarters. For example, a fund value of $20,000 will perpetuate a $1,000 yearly gift to the Federation. With an endowment fund, you, too, can create your Jewish legacy for future generations.
The past fiscal year for the JCF proved to be a strong one. Our DAFs and endowment funds are professionally-invested by SEI, a large, global investment firm based in Oaks, PA, and benefited from strong economic results in many sectors.
By the numbers:
• Total grants from all JCF funds increased by 12% from $2.98M to $3.35M.
• Total grants to the SNJ Jewish community increased 4% from $2.23M to $2.32M.
• Total grants to the entire Federation system increased by 11% from $1.64M to $1.82M.
• In all, the JCF processed payouts to over 350 nonprofit organizations locally and across the country.
• Over $76,000 in JCF Grants were awarded for 43 new and innovative local initiatives.
• JCF Scholarship Awards totaling $37,000 benefited 19 deserving local scholars.
I welcome your outreach with questions about the JCF. Please contact me to today at (856) 673-2571 or dsnyder@jfedsnj.org
Thank you, again, for giving back to others!