Financial Highlights

During this past year, the Foundation maintained a high level of service and
charitable activity on behalf of its donors and client agencies,
notwithstanding continuing  uncertainty and volatility in the financial markets. Highlighted below are the Foundation's achievements in fund management, endowment development, capital projects and grantmaking.
 

  

F U N D    M A N A G E M E N T
 


Assets under management, as of December 31, 2006, totaled $106,885,671.
A total of 1,159 individual trust and endowment funds were held in the following categories:

  • Donor Advised Funds.................$ 34,235,717                           

  • Custodial Funds...........................30,809,100                           

  • Charitable Trust Funds..................20,955,768                           

  • Restricted Endowment Funds........19,840,162                           

  • Unrestricted Funds.........................1,044,924                           

Contributions and capital additions in 2006 totaled $11,938,596.
The Foundation's financial statements were audited by Ernst and Young, an independent, certified public accounting firm and are available upon your request.
 

  

 E N D O W M E N T    D E V E L O P M E N T
 


The Foundation is providing planned giving and development consultation to the Jewish Federation of Greater Buffalo to support its Perpetual Annual Campaign Endowments (PACE) and Lion of Judah Endowments (LOJE). The Federation's Generations Endowment Fund has already received over $114,000 in donations.

The Foundation completed its seventh year of the Teen Tzedakah Program. Twelve teenagers spent the last academic year studying community needs and made allocations totaling $15,000 to both Jewish and non-Jewish agencies. A new group of teens will be participating in the program for the coming academic year.

Through the generosity of a small group of donors, the Foundation has established the Albert M. Silverberg Memorial Fund. The purpose of the fund is to provide assistance to individuals with disabilities to participate more fully in Jewish communal life.

The Trustees of the Foundation are actively encouraging support of the Foundation's Community Endowment Fund, which gives the Foundation the ability to meet emerging community needs which cannot be met through annual campaigns, or the normal operating budgets, of our agencies. The growth of this Fund is a high priority for the coming years. A special committee, chaired by Foundation Trustee, Jordan Levy, has been guiding the Foundation's efforts in this critical area of unrestricted giving, especially through gifts of life insurance..
 

  

C A P I T A L    P R O J E C T S
 
The Foundation is assisting the Weinberg Campus in its development of a new comprehensive program and facilities to serve the low-income elderly. This includes a 120-unit apartment complex, a social and medical day-care center and an innovative multi-disciplinary managed care system. To date, over $12 million has been raised for this new phase in the development of Weinberg Campus services. It is estimated that an additional $10 million in endowment funds will be required to provide financial assistance for the care of campus residents in the future.

The Kadimah School has launched the Hineini Campaign to build it endowment. Thus far, $1.5 million has been raised toward the school's goal of $5 million in permanent endowment funds for scholarships for needy families.

  

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The Foundation for Jewish Philanthropies
787 Delaware Avenue | Buffalo, New York 14209
Telephone (716) 882-1166 | Toll-Free (877) 933-6369
Fax (716) 882-3076

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