n the summer of 2016, the Jewish Foundation of Greater New Haven Board of Trustees, following a recommendation of the Foundation’s Investment Committee, approved a RFP process (Request for Proposal) for a new investment advisor/consultant for the Foundation.  The Board also hired InHub Consulting of Chicago to assist with the RFP process and a RFP subcommittee was formed.  In December of 2016 SCS Financial was approved as the new Investment Advisor for the Jewish Foundation.

“The growth of the Foundation over the last few years warranted a review of the current consultative process. We recommended a RFP process as part of our due diligence as fiduciaries and because we wanted to explore options. One of the goals of the RFP process was to determine if it was appropriate to have both tactical and strategic in one consultant, “ stated Stephen August, Investment Chair of the Jewish Foundation.

For over 18 years, Prime Buchholz had served as the Investment Consultant for the Jewish Foundation. The process began with a RFI (Request for Information) which was submitted to numerous firms and publicized through financial outlets.  Eighteen firms submitted RFIs.  The submissions came from firms which ranged from large national to small boutiques and included consultants, outsourced chief investment officer models, as well as hybrids.  From the 18 firms which submitted RFIs, the subcommittee recommended 9 candidates who were then invited to submit full proposals.  Those 9 candidates were SCS Financial, Prime Buchholz (which was the Foundation’s current investment consultant), Colonial Consulting, Meketa Group, DiMeo Schneider, Fiduciary Investment Advisors, Goldman Sachs, JP Morgan, and Segal Rogerscasey.  After full review of the 9 proposals as well as supporting documentation, the subcommittee then recommended that 4 of the 9 candidates be interviewed in person and invited to make an in-person presentation, those 4 candidates were SCS Financial, Prime Buchholz, Colonial Consulting, and Meketa Group. Following the in-person presentations by the 4 finalists, SCS Financial was recommended by the subcommittee to the Foundation Investment Committee which approved the recommendation and in turn made the same recommendation to the Foundation Board of Trustees which approved SCS Financial as the new investment advisor for the Jewish Foundation of Greater New Haven. 

“ The analysis was that SCS was very flexible in both of these areas. They have unique models that offer broad exposure to new sectors at lower cost and commitment. In addition, their communication and response were analytical and timely, “ continued Steve August.

Founded in 2002, SCS Financial is one of America’s leading independent investment and wealth management firms with offices in Boston and New York.  SCS currently supervises approximately $17 billion in investment assets on behalf of 140 clients. SCS’ client base is diverse, encompassing endowments, foundations, ultra-high net worth individuals, family offices, sovereign wealth funds, and insurance companies.Over the next several months SCS will be working with the investment committee to execute a new Investment Policy Statement and transition the portfolio to an agreed upon asset allocation. 

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The Jewish Foundation can help you explore charitable opportunities that work for you. 

The Jewish Foundation is a trusted and expert resource for charitable gift planning and endowments and serves as a partner and resource for synagogues, local Jewish agencies, professional advisors and donors.

When you make a current gift or leave a bequest to the Jewish Foundation of Greater New Haven, you not only benefit our community, but you can also support the causes that are important to you.  You can designate that your gift be used to provide unrestricted funds to help meet community needs now and in the future or to endow a permanent fund to aid identified programs, your synagogue, agencies, organizations, or initiatives (Jewish or not Jewish, in Greater New Haven, Israel or beyond) that are of particular interest to you and your family.

Lisa Stanger, Esq., Executive Director
Tiberius Halai, Grants and Gift Manager
Beth Kupcho, Scholarship and Philanthropy Manager
Stephanie Licsak, Controller

Jewish Foundation of Greater New Haven
360 Amity Road
Woodbridge, CT 06525
203-387-2424, ext. 382
203-387-1818 (fax)

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With the Jewish Foundation, you can establish a named Restricted/Designated Fund for your synagogue, for Jewish education, for the needy, for Israel, for the arts, or for any charitable program or organization that is important to you.

These funds can be established in honor of a family member, or in memory of loved ones, and will provide annual distributions, in perpetuity, to the designated organization(s). The Jewish Foundation will make annual distributions to the designated charitable organization and, in the fund agreement,  you can provide for a contingent beneficiary organization should the designated organization cease to exist, lose its tax-exempt status or substantially alter its mission.  Restricted/Designated Funds can be established with a minimum gift of $10,000.


ENDOWING YOUR JEWISH FEDERATION ANNUAL CAMPAIGN GIFT Designated/Restricted Funds for the benefit of the Jewish Federation’s Annual Campaign are called “PACE” (Perpetual Annual Campaign Endowment) or “LOJE” (Lion of Judah Endowment).

A PACE fund is a designated/restricted fund which endows a donor’s UJA-Federation annual campaign gift. A LOJE fund is a type of PACE fund which provides a permanent endowment to perpetuate a woman’s annual Lion of Judah campaign gift.

PACE and LOJE funds allow our community, through permanent endowment funds dedicated to the Jewish Federation Annual Campaign, to insure that we have funds available that will continue to provide for vital programs and services both in Greater New Haven, in Israel and overseas… for present and future generations.

A named PACE fund can be established with a minimum commitment of $10,000 or a LOJE fund with a minimum commitment of $100,000. Commitments of under $10,000 are pooled together in the Jewish Foundation of Greater New Haven’s Community PACE Fund.


DONOR ADVISED/PHILANTHROPIC FUNDS For individuals and families seeking active involvement in philanthropy, a Philanthropic Fund (also called a donor-advised fund) allows the donor to create a named fund that provides flexibility in charitable giving. A Philanthropic Fund allows the donor to recommend distributions to any qualified tax-exempt organization-think of it as a charitable checking account. The Foundation administers the fund, invests the assets, and the donor receives quarterly statements describing their fund’s activity. These funds are a wonderful way to involve the family in giving---the donor and his/her family can sit around the dinner table and decide to which charitable organizations they want their fund to distribute. These funds can be established with a minimum gift of $10,000.

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The Foundation administers and promotes the Build a Tzedakah program which enables young adults to establish their own Foundation endowment fund and also, in conjunction with the Center for Jewish Life and Learning, includes local programs, classes and projects on philanthropy.

The Build-a-Tzedakah program allows young adults to engage in charitable giving by contributing $600 from their Bar or Bat Mitzvah gifts, with a match of $400 from a community donor. With this, the young adult now has a $1000 named charitable fund at the Jewish Foundation—they, or others, can add to the fund at anytime and in honor of special occasions- and, every December (Hannukah time), they will be given the opportunity to choose to which charity(ies) they want to make a distribution (distributions are based on the Jewish Foundation’s spending policy and must follow IRS regulations which include that they must be charitable and can only be made to US based public charities).


As part of its Build a Tzedakah program, the Jewish Foundation of Greater New Haven held a Pop-up Jewish teen giving circle. The teens, part of JTE (Jewish Teen Education) program, invited local organizations to present concerning funding needs. The program included discussion of philanthropic values, why people give, and how to give. The Jewish Foundation provided monies to the teens for their allocation process. The teens awarded the following grants: IRIS (Integrated Refugee & Immigrant Services) for a teen civil rights travel program this summer; Jewish Family Service of Greater New Haven for their Stars of David program providing post-adoption social support to adopted Jewish teens; JCC of Greater New Haven for their Makerspace.


Individuals or families can establish a named Unrestricted Fund at the Jewish Foundation with a minimum donation of $1,000. Unrestricted Funds allow the Foundation to meet the changing needs of the Jewish community through our grants process and community initiatives. Many community members have established such funds in honor of a special anniversary or birthday, or in memory of a loved one.


The Foundation’s professional staff and its centrality to the Jewish Federation insure continuous, permanent, and secure fund management and enhance donor confidence and prestige. In addition, placing endowment assets with the Jewish Foundation can serve to insulate financial management of an organization’s endowment from the vicissitudes that can occur through the organization’s own corporate governance. Many local Jewish organizations have entrusted endowments to the Jewish Foundation for administration and management--these include: The Jewish Cemetery Association of Greater New Haven, Congregation Beth Israel (Wallingford), Beth Israel (Orchard Street Shul)Cemetery Assocation, Congregation Mishkan Israel, Congregation Beth El-Keser Israel, Temple Beth David, Ezra Academy, the JCC, Jewish Family Service, Congregation Beth Shalom Rodfe Zedek, Congregation Or Shalom, Congregation B’nai Jacob and Temple Beth Tikvah.