Agency Endowments
As the charitable endowment arm of the Greater Hartford Jewish community, the Jewish Community Foundation is dedicated to strengthening the financial resources of local Jewish charities. It accepts and holds designated funds for the benefit of area agencies and synagogues. An Agency Endowment Fund at the Jewish Community Foundation is a vehicle designed to hold and manage the assets of a specific charitable organization and distribute the fund’s net income to that organization on an annual basis. Distributions in excess of that amount may be requested for the unique and non-recurring or special needs of the organization.
The Foundation can help promote an agency endowment fund to the public and to the charity's supporters by giving it more visibility, thus encouraging interested donors to make charitable contributions that can be added to the endowment.
There can be significant advantages for an agency or synagogue to consider transferring all or a portion of their endowment to a permanent designated fund under the administrative umbrella of the Jewish Community Foundation:
- A common interest in the welfare of the Greater Hartford Jewish community and in serving the charitable purposes of the community
- Participation in a $70 million diversified investment portfolio that minimizes overall investment risk
- Investment oversight by a committee of experienced professionals
- Low management fees
- Quarterly and annual reporting backed up by a yearly independent audit
- A dedicated professional staff team ready to serve as a charitable gift planning resource
- State-of-the-art technology using sophisticated financial software for fund accounting tracking of gift restrictions, and investment reporting
- Added visibility in the community through the Foundation's Yearbook and other publications
- A “buffer” between the agency and endowment reduces the likelihood that the endowment will be invaded for current operation
- Relief from the time and expense of endowment accounting and management by agency staff and volunteers
- Assurance to donors that their endowment gifts will be held and dedicated to agency use in perpetuity
