Fundamental to a sustainable Jewish Community of Louisville agency for generations to come is an endowment that supports needed programs and services, and helps maintain a predictable income stream when the economy generates waves. Last week a group of interested community members composed of endowment veterans and more recent additions to the agency’s leadership team convened to make some needed updates to the endowment.
The group began the process by rebranding the existing endowment. The new entity will be known as the Jewish Foundation of Louisville, and it will continue to manage the former Jewish Community Center Second Century Funds, the former Jewish Community Federation donor advised funds, and unrestricted funds.
Investments will continue to be managed by Northern Trust and Republic Bank, and will be overseen by the Endowment Investment Committee. Distributions will adhere strictly to the spending policy approved by the JCL’s Finance Committee in 2010.
The Jewish Foundation is also committed to growing community assets with a goal of directing supplemental income into the planning and allocations process so that a higher percentage of Annual Federation Campaign dollars can be used to more directly support those in need. As Foundation assets increase, the Foundation will be able to fund new and innovative programs that will continue to meet the changing needs of the Louisville community.
Several types of endowments can be established at the Jewish Foundation of Louisville, using a variety of financial planning tools. For more information please contact Matt Goldberg, 238-2707, or Jamie Pillsbury, 618-5303. Donors are also advised to contact their tax professionals.