2010
Year in Review
For the past 43 years the Jewish Endowment Foundation of Louisiana has continuously served our Jewish community by assisting donors from all walks of life in carrying out their charitable goals. Our foundation, which originally started in Greater New Orleans, now includes Baton Rouge, Monroe, and the entire state of Louisiana. We are proud to be the Louisiana Jewish community’s resource for planned giving.
This year, Nancy Sternberg Goodman joined the JEF family as the new coordinator for our Create a Jewish Legacy (CJL) project. Nancy is a native New Orleanian who recently returned to her hometown. We are delighted that she has joined our staff. Now that our CJL project is fully underway, Nancy, along with our Executive Director, Sandy Levy, will be working closely with our partner agencies: the Jewish Federation of Greater New Orleans, Jewish Family Service, the Jewish Community Center, New Orleans Jewish Day School, and Tulane Hillel, as well as synagogues and other local organizations that have joined in this community-wide effort. The members of the CJL Steering Committee are Morton Katz, Max Nathan Jr., Mimi Schlesinger, Eddie Soll, Carol Wise, and Ellen Yellin.
According to our 2009 audit, we hold $36.8 million in total assets. Thankfully, this was an increase from our assets in 2008, which totaled $34 million. With the addition of several new funds and more favorable market conditions, we once again saw growth of almost $3 million in our overall 2009 assets. The one area that continues to be a priority is our General Fund. These are the funds JEF uses to make grants and meet emergency needs. Immediately after Hurricane Katrina, we had approximately $6 million in our General Fund; today we have just under $3.5 million, which would be woefully inadequate to meet future obligations should a major calamity strike again. Therefore rebuilding our General Fund is a pressing need.
JEF holds approximately 400 restricted funds and several supporting foundations totaling $30.6 million. In 2008, $2.8 million was distributed from both our restricted and unrestricted funds and in 2009, $2.4 million was distributed. This generous financial support to 501(c)(3) nonprofits reveals the continuing generosity of JEF and our donors. In fact, according to our audit, $1,170,873 went to Jewish nonprofits and $396,441 went to non-Jewish nonprofits from our donor funds in 2009. We at JEF and in our Jewish community continue to be blessed with caring, loyal, and generous supporters. We are proud to be in the forefront of Jewish philanthropy in Louisiana.
The following funds have been opened since our last annual report through November 30, 2010; Donor Advised Funds: Mike Gertler JFS Counseling, Camp Henry S. Jacobs Create a Jewish Legacy, Maurice (Hippo) Katz Memorial, Robert L. Kohlmann No. 2, and Shir Chadash Conservative Congregation Create a Jewish Legacy; B’nai Maimonides Funds: Adam Bressler, Alonzo Brown, Manya Gaver, Todd Hamilton, Richard Adam Levin, Marlee Michaels, Max Michaels, Aaron R. Perles, Brooke Rittenberg, Brett Salus, and Gabrielle Shoshana Stone; Custodial Funds: Arnof Family Foundation II, Jewish Federation of Greater New Orleans Special Purposes Fund, and Milton Rosenson Jewish Federation of Greater New Orleans.
Unfortunately, in 2009 and 2010 we suffered the loss of a number of our long-time supporters and philanthropists. We extend our most heartfelt sympathy to the families of these devoted JEF donors.
The cover photograph of this year’s report features some of the individuals who have received JEF’s Tzedakah award over the past three decades. Their good deeds have generously benefited our Jewish community and our community as a whole. These role models for future generations have created a legacy for all of us to build upon. As we engage in our Create a Jewish Legacyproject, it is essential that we continue the work of these extraordinary philanthropists.
Today, each of us has an opportunity to help secure our future and the future of generations to follow. Though we know that these may not be the very best of times and that many of us are still recovering from Katrina and the recent economic downturn, we do respectfully ask that you consider making a gift to JEF’s General Fund, opening a new fund, or placing a bequest in your will in order to assist us in carrying out our important mission of securing the future of our Jewish community. No gift is ever too small; every contribution makes a difference.
Please call us to find out how you can plant for future generations as our ancestors so wisely planted for us.
Charles A. (Rusty) Levy III
President
Saundra K. Levy
Executive Director