Foundation Facts

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.

Our Charitable Distributions

In the 2018 fiscal/calendar year, the Jewish Foundation distributed over $2.78 million to charitable organizations, 80% of that went to local Jewish organizations and synagogues. Click the thumbnails below to display a full sized image of those distributions organized by area of need.

Financial Information

Investment and Management of the Jewish Foundation Endowment Funds

In the 2018 fiscal/calendar year, the Jewish Foundation distributed over $2.78 million to charitable organizations (80% to local Jewish organizations and ended the year with over $50 million in total endowment funds. The Foundation’s Investment Committee in consult with the Foundation’s outside independent advisor, continues to employ a conservative and expert investment strategy and long-term outlook concerning the investment and management of the Foundation’s endowment funds.  In addition, the Foundation’s long-term approach to endowment spending has sought to maintain and grow each endowment fund while providing the beneficiary organization with guaranteed and consistent distributions.

The Foundation’s investments are guided by an independent and outside investment  advisor, SCS Financial Services, LLC, who, on a regular basis, meets with and reports to the Foundation’s Investment Committee. SCS’s  responsibilities include recommending, researching and conducting due diligence on all fund managers as well as regular monitoring and reviewing of the fund managers. In addition, SCS recommends an asset mix within established asset allocation guidelines, monitors portfolio performance, and recommends investment policy to the investment committee, which in turn must be voted upon by the Foundation Board of Trustees. 

THE FOUNDATION’S INVESTMENT OBJECTIVES INCLUDE:

(i) ensuring that the Foundation can continue to distribute according to a prudent spending policy from restricted and unrestricted funds
(ii) providing for the long-term growth of the endowment, while
(iii) constantly trying to balance these objectives against risk. The Foundation and its Investment Committee are committed to ensuring the preservation of our community’s endowment. 


In addition, some of the things the Jewish Foundation and SCS continue to practice include: 

  • Diversification 
  • High Quality Managers 
  • Disciplined Rebalancing 
  • Intense Oversight

ASSET ALLOCATION 

The Foundation will continue to maintain a disciplined, well-diversified portfolio which is regularly monitored and re-balanced. On 12/31/18, 29% of the portfolio was composed of fixed-income securities.  Another 47% included domestic and international equity. The balance of the managed fund included alternative assets such as emerging markets, private credit, private real assets, and private equity,  all of which are carefully monitored, vetted and continue to perform well. The Foundation also holds cash, life insurance and Israel Bonds. 

SPENDING POLICY 

Each year, the Board of Trustees of the Jewish Foundation approves a prudent spending policy that is applied to all unrestricted funds as well as Foundation owned restricted funds. The spending policy is developed in consultation with the outside Investment  Advisor,  as well as the Foundation’s Finance and Investment committees. In making its decision, the Board follows the Uniform Prudent Management of Institutional Funds Act (UPMIFA), and approves a spending policy that takes into account the uses, benefits, purposes, and duration of the endowment. 

The Jewish Foundation is a public charity, not a private foundation. It is a Type I Supporting Organization of the Jewish Federation of Greater New Haven. The Jewish Foundation is its own, separate, tax-exempt organization.  The Foundation files its own Form 990 and conducts its own audit. Its federal tax id number is 45-2403156.  

Publications & Links

Foundation Publications and Documents

Foundation Facts

    Let's Start a Conversation

    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)
    lstanger@jewishnewhaven.org
    Jewishnewhaven.org

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    For Professional Advisors

    If you are working with a professional advisor or advising a donor, here’s a useful guide for including the Don Bosco Prep in a charitable estate plan.

    DESIGNATED/ RESTRICTED FUNDS FOR SYNAGOGUES, AGENCIES AND OTHER ORGANIZATIONS 

    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.

    PACE (PERPETUAL ANNUAL CAMPAIGN ENDOWMENT) AND LOJE (LION OF JUDAH ENDOWMENT)  

    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  

    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.

    Download Info Sheet

    YOUTH PHILANTHROPY AND BUILD A TZEDAKAH FUNDS  

    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).

    OVER THE PAST TEN YEARS, BUILD A TZEDAKAH FUNDS HAVE DISTRIBUTED OVER $40,000 TO MORE THAN 60 ORGANIZATIONS!

    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.

    UNRESTRICTED FUNDS  

    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.

    FUND MANAGEMENT AND INVESTMENT OF SYNAGOGUE, AGENCY AND ORGANIZATION CUSTODIAL ACCOUNTS  

    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.