JCL Completes Reconstitution of Second Century Funds; Unveils Jewish Foundation of Louisville Branding

[by Shiela Steinman Wallace]

The Jewish Foundation of Louisville’s Annual Meeting on Tuesday, May 15, was a time of new beginnings.

The meeting itself used a new format. In the first part, people who have endowments heard a report from Northern Trust, the company that manages most of the Foundation’s portfolio, and the Foundation’s investment performance. The group then adjourned for light refreshments before reconvening for a more informal presentation about endowments that was open to the entire community.

It also represented a fresh start for the entire endowment program at the Jewish Community of Louisville.

JCL Board Chair David Klein announced that, based on a recommendation from the Endowment Committee, money has been transferred from the unrestricted endowment funds to the Second Century Funds to make them whole, fully correcting a problem that happened several years before the Jewish Community Center and the Jewish Community Federation merged to form the JCL.

JCL President and CEO Stu Silberman introduced the organization’s new vice president and chief development officer, Stew Bromberg, as an experienced professional who brings passion and leadership to the organization.

Peter Resnik, the new Foundation chair, introduced the Jewish Foundation of Louisville’s new name and branding. The Foundation incorporates everything that was part of the Foundation for Planned Giving and the Second Century Funds.

He also presented an overview of the Foundation’s current position. Investments are steady and strong, he reported and there are new internal controls to ensure the Foundation’s integrity. With new staff, newly invigorated committees, new branding and a strategic plan for the JCL in the works, the Foundation is on the move.

Glenn Levine, the Endowment Investment Committee chair, explained how his committee meets quarterly with Republic Bank and Northern Trust to monitor how the Foundation’s funds are being managed. He also listed many of the organizations and programs that benefit from the Foundation, including Louisville’s Jewish congregations, BBYO, Hillel, the JCC, Jewish Family & Career Services, and Jewish overnight camps. He added that this year, the endowment is helping send 12 Louisville teens to Memphis to compete in the Maccabi Games.

Jim Tucker, Northern Trust’s senior vice president, presented a detailed picture of the Foundation’s funds during the first part of the meeting and a more general overview at the later gathering.

For more information about the Jewish Foundation of Louisville and to see the new branding, see the Foundation spread in the center of Community’s Family Matters section, or contact Stew Bromberg at 238-2755 or sbromberg@jewishlouisville.org.


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