The Jewish Federation Foundation, the Jewish Alliance of Greater Rhode Island’s endowment, had a “banner year,” with the value of the endowment increasing 36%, from nearly $54 million to $73.4 million, for the year ending May 31, 2021.
“It has been a banner year for the JFF, and we are so pleased that community members invested with us have seen such a great return on their investments,” said Mitzi Berkelhammer, JFF chair.
Three years ago, the Jewish Alliance made the decision to move the JFF funds to the Rhode Island Foundation. Now the Alliance’s donors get all the advantages of the RIF’s investment portfolio while remaining dedicated to the Jewish community.
“The Jewish Federation Foundation of Rhode Island has been a great partner. As part of the Rhode Island Foundation family, JFF and its donors benefit from our $1.3 billion endowment, with its average annualized return of 7.7% over the last 20 years,” said Daniel Kertzner, senior philanthropic adviser at the RIF and liaison to the JFF. “JFF donor-advised and endowed funds provide an excellent opportunity for individuals to maximize their charitable giving and leave a legacy for the community.”
One of the ways JFF donors are giving back to the community is through donor-advised funds. JFF DAFs are currently worth about $28.8 million and act as philanthropic bank accounts. After establishing a DAF with an initial gift of $2,500 or more, donors can use these funds to make grants to any 501(c)(3) nonprofit in Rhode Island, the U.S. and around the world.
In the last year, 124 JFF DAF advisers made 635 grants, contributing over $1.25 million to organizations important to them.
JFF also offers standard endowment funds, which donors establish to benefit the Jewish Alliance or other nonprofits in perpetuity, thus creating a philanthropic legacy.
If you are interested in creating a DAF or discussing planned giving and/or investing in the endowment, please contact the JFF at 401-421-4111 or email@example.com.
SARA MASRI (firstname.lastname@example.org) is the chief development officer at the Jewish Alliance of Greater Rhode Island.