In 1972, a small group of visionary leaders from United Jewish Appeal of Greater New York and the Federation of Jewish Philanthropies formed Jewish Communal Fund (JCF.) They saw an important role for donor advised funds (DAF)—then a new philanthropic service—stating, “We have forged a tool of great social potential, and we need only wider recognition to become a great stabilizing force for voluntary institutions, particularly those sponsored by the Jewish community.”
Back in 1973, JCF’s first Annual Report lists AUM of $4,000,000, and 148 grants totaling $698,000 distributed to charities. Over five decades, JCF has evolved as one of the most active and largest independent donor advised fund in the country, currently managing $2.6 billion in charitable assets for more than 4,500 funds.
Since its inception, JCF has sent grants totaling $8 billion to thousands of charities. As we continue to celebrate 50 years of philanthropic excellence, we usher in new leadership. Rachel Schnoll, former MD at Goldman Sachs and active member of the Jewish community, takes the helm together with our new COO Marina Lewin, former COO of the Foundation for Jewish Camping.
“I am excited about taking the mantle of leadership and steering JCF into its next half-century of philanthropic impact,” Rachel said. “I look forward to building on the impressive growth and impact that JCF has had under Sue Dickman’s able leadership.”
As one of the early DAFs, JCF has always been on the cutting edge and remains committed to innovation and upholding the highest standard of fiscal oversight. JCF introduced a diverse investment platform when other DAFs offered only 2 or 3 choices, and our investments have always been professionally managed by external advisory services (currently Mercer). Recognizing the importance of social impact investments, JCF added ESG investments, mission-aligned (Jewish values) investments, and loan programs. Because we facilitate and promote philanthropy, JCF provides practical philanthropic education, creating our own resources and working with innovative partners such as Goodnation, a hybrid digital and in-person philanthropic advisory service. Jewish Communal Fund continues to set the standard for exceptional customer service for fundholders at all levels of giving.
Recognizing that some of our most active philanthropists require special services, JCF’s Private Client Group offers customized investments and services to UHNW individuals and family offices. The PCG can vet managers not currently on the platform, including CIOs of FOs. For decades JCF has worked with wealth managers at numerous firms to provide their clients with superior service. JCF accepts many assets, including real estate, privately held businesses, and complex assets.
Looking back at our JCF legacy, JCF President Michael Stern stated, “It gives me great pride that in addition to facilitating grant-making for our thousands of donors, since 1996 Jewish Communal Fund has made an annual, unrestricted major gift to UJA-Federation of New York to support Jewish programs and initiatives in the Greater Metropolitan area.” In addition, JCF’s endowment, the Special Gifts Fund, continues to change lives for the better, granting out more than $22 million since 1999. These Special Gifts Fund grants have enriched the lives of so many diverse members of our community. Grants have funded construction or improvement of food pantries, soup kitchens, sensory gyms and hospice care. Our impact is felt even more so in times of need. JCF’s fundholders give generously after disasters, both natural and manmade, around the country and the globe. Most recently, Special Gifts grants supported emergency relief in Ukraine to help thousands fleeing from the conflict.
We look back with pride on Jewish Communal Fund’s accomplishments and many contributions to the people of New York and beyond. It is our hope that in another 50 years, we will celebrate a century of philanthropy that has bettered the lives of so many people.