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Financial Information

Investment and Management of the Jewish Foundation Endowment Funds

 In the 2017 fiscal/calendar year, the Jewish Foundation distributed over $2.8 million to charitable organizations (73% to local Jewish organizations, click here to see more) and ended the year with over $52 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. Click here for past Annual Reports, Form 990s, and audited financials.

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 12/31/17, 28% of the portfolio was composed of fixed-income securities.  Another 58% 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.  

IRS Tax Exempt Determination ltrJewish Foundation of GNH IRS Tax Exempt Determination ltrJewish Foundation of GNH (52 KB)