Under the leadership of Chair Peter Resnik, CFA, CPA, the Jewish Foundation of Louisville is taking positive steps to fulfill its potential and play a positive role in the future of the Louisville Jewish community.
One of the Foundation’s goals is to support innovation and Jewish life in Louisville. As one step toward that goal, the Foundation will reinstitute its grant-making program. In its first year, fiscal year 2014-15, a pool of $25,000 will be available for grants. While the specific criteria and application process will not be determined until the committee meets in April, Resnik indicated that Jewish organizations in Louisville will be eligible to apply.
“Our wonderful ability to restart these grants is in part driven by the JCL’s [Jewish Community of Louisville’s] declining reliance on unrestricted Foundation funds to manage its operations and agency allocations over the last few years. We also hope that these grants will help provide increasing confidence in our donor community as to how our resources can be best directed,” said Resnik.
In addition to grant making, Resnik reported, the Foundation Committee is focusing on marketing, rate setting and operational management. The Foundation Committee is working closely with the Financial Resource Development Group, chaired by Glenn Levine, CFP, AAMS, which is responsible for managing the investments.
To ensure Louisville’s Foundation is establishing payout rates that are in step with what other foundations are doing, the Foundation Committee recently completed an informal peer review study that included Jewish communities of similar size and another Louisville community foundation.
The analysis shows, he explained, that the Jewish Foundation of Louisville is competitive with other foundations, and may even be a bit more generous in its pay-out rate. This year, it is 5.39 percent. At the same time, the Foundation is growing its capital for the future in an overall balanced investment portfolio.
In recent months, the Foundation has also succeeded in attracting substantial new gifts from donors and self-directed endowments, contributing to its overall growth.
The Foundation’s funds include individual endowments, JCC Second Century Funds, unrestricted funds and funds the Foundation manages for other Jewish institutions. As of February 28, those funds total $10,307,337.
“The Committee’s membership is comprised of a great mix of long time leaders, donors with organizational history and counsel and a new generation of volunteers who are learning and providing fresh perspectives. Its members are Chair Peter Resnik, Susan Blieden, Ross Cohen, Jane Goldstein, Robert Kohn, Glenn Levine, Bruce Miller, Bruce Roth and Michael Shaikun.
For more information about the Jewish Foundation of Louisville or about establishing or contributing to an endowment fund, please contact Foundation Chief Development Officer Stew Bromberg, sbromberg@jewishlouisville.org or 238-2755. Additional information is also available online at jewishlouisville.org/federation/foundation.