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Many local Jewish not-for-profit organizations have entrusted their endowments to the Jewish Foundation for administration and management.
Such synagogue and agency funds are custodial accounts, owned by the beneficiary institutions but placed at the Foundation for management and investment. The beneficiary institutions can request distributions (of any amount) from their custodial accounts. In addition, the beneficiary institution receives quarterly reports detailing the individual fund’s activity. Beginning this past May, each institution with monies at the Foundation was invited to appoint a representative to meet with the Foundation’s Investment Chair and Consultant concerning investment policies and objectives.
The following area organizations have custodial accounts with the Jewish Foundation:
- Camp Laurelwood
- Congregation B’nai Jacob*
- Congregation Mishkan Israel
- Congregation Or Shalom*
- Ezra Academy
- Hebrew High School of New England
- Jewish Community Center
- Jewish Family Service
- Jewish High School of Connecticut*
- Temple Beth Shalom Rodfe Zedek*
- Temple Beth David
- Temple Beth Tikvah*
*New Fund 2007-2008
Top performance and lower management fees result in more money for our community.
The Foundation holds no individual stocks and has a well-diversified portfolio in domestic and international equity, alternative investments as well as income and bond funds. An outside investment consultant, Prime Buchholz, guides the Foundation’s Investment Committee, chaired by community member Alan Weiss.
The Investment Committee meets regularly both with and without Prime Buchholz to review investment performance, fund manager performance, as well as asset allocation policies and to consider asset allocation strategies. Investment objections include (i) ensuring that the Foundation can continue to distribute 5.25% (the Foundation’s current spending policy) from restricted and unrestricted funds while at the same time (ii) providing for the long-term growth of the endowment—the committee is constantly trying to balance these objections against risk.
The Foundation and its Investment Committee are committed to ensuring the preservation of our community’s endowment.
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