Annual Report FYE 7-31-11.pdf - Jewish Foundation of Greater New ...

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Message from the Director and Chair
he Jewish Foundation is a trusted and expert resource for charitable gift planning and endowments and
Tserves as a partner and resource for synagogues, local Jewish agencies, professional advisors and
donors. The Jewish Foundation is committed to promoting Jewish philanthropy, for the UJA-Federation,
for our agencies, for Jewish education, for our synagogues, for Israel and for Jews in need at home, overseas,
and in Israel.
The virtue of giving is important and rewarding. The challenge of difficult times brings great opportunities to excel.
The Jewish Foundation is adapting to change. Our recent successes will help us jump start our future goals.
Therefore we will create a greater awareness of our mission and become the first choice in Jewish philanthropy.
—Stephen Glick, Chair
Stephen Glick
Incoming Chair, Board Trustees
Jewish Foundation oF Greater new haven
David Trachten
Outgoing Chair, Board Trustees
Lisa A. Stanger, Esq.
Director
Fiscal Year
the JeWish foundation of greater neW haven CompLeted the
fisCaL year ending JuLy 31, 2011 With some important Changes
and aCCompLishments.
Corporate changes:
n March 2011, the Jewish Foundation filed the necessary documents to become
a non-stock corporation in the State of Connecticut. This change in corporate
status will separate and protect the Jewish Foundation endowment funds from
the operating activities of the Jewish Federation and the JCC. Prior to March
I2011,
the Jewish Foundation was not corporately separate from the Jewish Federation of
Greater New Haven, Inc. In addition, the Jewish Foundation has also applied to the IrS for
its own tax-exempt determination letter.
In order to protect the Jewish Foundation assets, a committee was formed to research
and evaluate different types of asset protection and insurance structures for the Jewish
Foundation. The committee, in consultation with outside counsel and the Jewish Federations
of North America, looked at a number of types of possible corporate structures—
the structure that was chosen for the Jewish Foundation of Greater New Haven, Inc. is
a Type I Supporting Organization of the Jewish Federation of Greater New Haven, Inc.
This structure was recommended as the best means to help ensure that the Jewish
Foundation and the Jewish Federation continue to work together, while also providing
protection for and separation of the Jewish Foundation assets.
Naked a man comes into the world, and naked he leaves it; after his
toil, he carries away nothing except the deed he leaves behind.
Koheleth rabba
Endowment Snapnapshot as
of July 31, 2011
TOTAL ASSETS:
$38 Million +
TOTAL FUNDS
530 Individual funds and
Charitable Trusts
Development and grants
snapshot fiscal year ending
7/31/11
NEW FUNDS
30 new funds established
TOTAL DONATIONS
$6.1 million+
TOTAL CHArITABLE DISTrIBUTIONS:
$1.7 million+
TOTAL KNOWN BEqUEST
COMMITMENTS
4 known bequest commitments
totaling over $5million
Jewish Foundation oF Greater new haven
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