2018-08-15 / Columns

Establishing a fund with JCF is a great deal for you and SNJ

MONEY MATTERS
LEONARD GLICKMAN
Executive Director, Jewish Community Foundation

Everybody loves a good deal.

Whether it’s buying back-to-school clothes, delicious food for a party, or even a new car, we all feel good knowing when we get great value for our money spent. It’s basic economics plus basic psychology rolled into one.

What does it mean, however, to get a good deal by being a donor to the Jewish Community Foundation, Inc.?

In order to help answer that, let’s pull back the curtain and illustrate how we operate.

Briefly, the JCF manages donor advised funds (DAFs) for donors that streamline annual charitable giving, and endowment funds that ensure legacy gifts continue for many generations.

As the administrator of these funds, the JCF charges a modest 1% annual fee based on each fund’s assets, charged quarterly at .25%. These fees account for the bulk of our income to maintain operations, with additional dollars arising from generous sponsorships and individual contributions, and the utilization of specific endowment funds that were established by donors to ensure JCF’s continuity well into the future.

What expenses do these fund fees and other income sources cover for JCF?

First and foremost, the JCF provides many services that benefit the community.

As you may know, the JCF awards Grants every fall and spring that help fund new and innovative programming throughout the local Jewish and secular community; in fact, we have awarded nearly $2-million in about two decades to benefit the community. Similarly, the JCF manages nearly a dozen Scholarship and Emerging Leader Award Funds, which provide financial assistance to local scholars and future leaders from the community. And for those of you familiar with the Jewish section of the New Camden Cemetery—we oversee that too, ensuring that the grounds remain in proper, respectful shape.

What’s more, we are here to help Jewish Federation agencies, synagogues, and day schools plan for the future by growing endowment funds that we manage to benefit their operations. In other words, when an organization wants to develop a pipeline of annual income from an endowment fund, the JCF is here to help it meet its goals and secure its future.

Similarly, we frequently work with donors in reaching their philanthropic dreams, as well as assisting in involving their children and grandchildren in giving back to others, thus passing on the important Jewish value of Tikkun Olam.

The JCF also hosts events that benefit the community, including an exciting program we are currently planning for Oct. 29 featuring a dynamic speaker named Jeremy K. Balkin. As an author of the recently published book, “Millennialization of Everything,” Balkin is an expert on guiding organizations in understanding the fledging Millennial generation. (Check out www.jcfsnj.org/balkin, as more information will be announced very shortly.)

It’s worth mentioning that the JCF consists of a team who handle all of the above listed services and more. By starting a fund with the JCF, the small administrative fee enables you to have your own DAF or endowment fund to enhance your charitable giving efforts, while also providing scores of additional benefits for the SNJ Jewish community.

If you like the sound of this deal, I invite you to call me at (856) 673-2541 to set up a time to talk in more detail. I am confident that you will get well more than your money’s worth when you’re a JCF donor.

lglickman@jfedsnj.org

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