Annual Report - the Jewish Federation of Omaha Foundation ...

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2 after seven years under the active leadership of steve bloch, I am humbled and excited to have assumed the presidency of the Jewish federation of omaha foundation (“foundation”). Under steve’s leadership, the foundation has grown and become known to many more members of our community. I decided to accept this important position because the foundation is essential for maintaining a strong Jewish community in omaha and together, we will make a difference. to provide some background information, the foundation, a separate corporate entity from the Jewish federation of omaha (“federation”), exists to support financial viability of the federation and its agencies. the mission statement of the foundation is printed on the back page of this report. the federation as the umbrella organization over the various agencies housed on the Jewish community center (“Jcc”) campus raises funds annually to operate these agencies, to pay the costs of operating the buildings on the Jcc campus and to support the overall mission of its umbrella organization, the Jewish federations of north america (formerly United Jewish communities) in its quest to assist Jews living in Israel and other parts of the world. How does the foundation support the federation? as our mission states, the foundation exists to establish and accumulate “enduring assets for permanent funding resources.” the primary type of enduring assets that have been accumulated in the foundation’s 27 years in business are endowment funds. endowment funds basically are donated dollars where the amount contributed is kept whole, with the annual income earned spent each year for the specific purpose that the contributor desired when he or she established the fund. some endowment funds are started when the donors are still living and some are set up at the donor’s passing as part of an estate plan. the foundation, over the years, has acquired numerous endowment funds which provide, for example, scholarships for Jewish children, support for the federation library, activities at the blumkin Home, financial assistance for the needy in the Jewish community, etc. In this report on pages six to ten you will see names of the numerous endowment funds that have been established over the years. We publish these names every year to recognize the generosity of the donors. We salute all these donors who, besides supporting the federation annual campaign, went a step further by establishing a permanent fund to support a worthwhile cause on the Jcc campus, thus creating a lasting legacy. on page 12 of this report you will notice the other types of funds besides endowment funds that our foundation staff has acquired over its 27 year history. there are many ways to help insure the future of our Jewish community here in omaha and around the world. anyone who would like to consider leaving a legacy for the omaha Jewish community should call Marty Ricks at (402) 334-6440 or me at (402) 496-1616 for a confidential meeting. sincerely, Jay noddle President table of contents president’s and Director’s Reports.........................2-3 Financial overview.....................................................4 Distributions...............................................................5 endowment and Custodial Funds........................6-10 pACe/loJe..............................................................11 President’s Report Fine tribute and Future Gifts........................................12 B’nai tzedek teen program.........................................13 Creating a legacy........................................................14 Donor Services.............................................................15 Cover photo: Pennie Z. Davis Child Development Center 10th Anniversary Family Shabbat.
there were many events worthy of note in the year ended June 30, 2010. a new foundation president, Jay noddle, took office in July 2009. Jay, in the last year, has been a hands-on leader who runs effective board meetings, is willing to learn every aspect of foundation involvement and stays committed to helping our foundation fulfill its goal of insuring the financial viability of our campus. the Rose blumkin Jewish Home was completed after three and a half years of construction. our office continues to be actively involved in the accounting for the project as well as the collection of pledges. out of $16.9 million raised, less than $2 million remains to be collected. We congratulate Jim farber, president of Jewish social services; Mike silverman, its executive director; Howard Kooper, the major fundraiser and chairman of the project; and nancy noddle, chairperson of the Interiors committee. What an outstanding facility for our esteemed elderly population! thanks to the leadership of Janie Murow, we observed a successful start to our b’nai tzedek teen Philanthropy program, with 32 omaha teens taking part and learning the importance of philanthropy (see page 13 of this Report). We witnessed a return to profitability after a significant fall in the previous fiscal year. the overall investment portfolio increased 7.62%. the chicago Pooled endowment Portfolio, which makes up 70% of our assets, increased by 11.18% in this fiscal year. We remain confident that the decision to invest a majority of our foundation funds with the Jewish federation of Metropolitan chicago is a prudent move. We attend their quarterly finance committee meetings by conference call and ask their chief Investment officer, David R. brief, cfa, to make a personal presentation each year at one of our board meetings. We regularly monitor their performance in comparison to other alternative cities that are available to us as part of the national Jewish federation Investment Program. as of June 30, 2010, our $39 million dollar investment in the chicago Pooled endowment Portfolio was 6.4% of their total assets of $612 million. Investing with this large pool of money enables us to diversify into asset classes that would not be available to us if we had continued to invest singly on our own. this is obviously a major investment for our foundation. If any of you, our constituents, desire to see chicago’s Investment Program overview, I would be pleased to email or send you a copy. It is very complete and informative. besides mentioning our new foundation president, I also want to thank him, as well as steve bloch for continued leadership, and our entire board of Directors, whose pictures are on the back cover. they are an intelligent, creative group who, in my twelve years at the foundation, have been supportive of me and my staff, and are always ready to consult and assist where needed. I also want to recognize our dedicated staff whose pictures are on page 15. laurie Peatrowsky (11 years with the foundation), Janet Henthorn (six years), and Mary bort (two years) work diligently and efficiently, enabling me to concentrate on working face to face with our committed donors. to close on a sad note, the passing of Phil schrager was a loss to our city. Personally I will miss our one-on-one meetings, which happened three or four times a year. I would leave those meetings inspired by his passion about the importance of having a strong Jewish community in omaha where our numbers barely make up one percent of the population. His Jewish heart was not limited to local needs. I recall his speech several years ago given at his home to kick off the Israel emergency campaign in response to the Hezbollah attacking northern Israel. It was typical Phil, speaking passionately about the cause and opening his wallet to make the lead gift, thus setting the example for others. Phil, you are sorely missed. May you rest in peace. Marty Ricks executive Director Director’s Report 3
Page 1: 2010 AnnuAl RepoRt Planning for Tod
Page 5 and 6: Miscellaneous Expenditures 3% Found
Page 7 and 8: Funds Providing Income for Designat
Page 9 and 10: Funds Providing Income for Designat
Page 11 and 12: Perpetual Annual Campaign Endowment
Page 13 and 14: B’nai Tzedek Teen Philanthropy Pr
Page 15 and 16: Donor Services the Jewish federatio

Annual Report - the Jewish Federation of Omaha Foundation ...

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