TZEDAKAH
JEWISH COMMUNITY FOUNDATION Twenty years ago, a handful of visionaries imagined creating a gateway for Jewish philanthropy in burgeoning south Palm Beach County. With compassion and foresight, they established the Jewish Community Foundation of South Palm Beach County. Since then, its growth has been remarkable. In 2005, under the leadership of President Charles Ganz and Vice President & Executive Director Leah B. Siskin, the Foundation
Charles Ganz
Thomas R. Kaplan
blossomed into a beacon of opportunity for everyone who shares in the commandment of Tzedakah. It provides numerous avenues for donors to realize their philanthropic objectives, regardless of age, degree of wealth or focus of giving. This year, the Foundation experienced significant advancements in a number of areas: •
Total assets under management rose to $57,500,000, deferred commitments rose to $110,096,130 for a combined total of $167,596,130. For 2005, overall outright and deferred gift commitment activity was $9,541,945. Some 57 new outright gifts or deferred gift commitments were established – a 9% increase over 2004.
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With a highly qualified investment committee co-chaired by Leon F. Thorpe and Michael J. Beckerman at the helm, investment returns of 4.58% were achieved in a flat investment market, compared to only 1.74% on the S&P 500 and a loss on the NASDAQ of 1.14%.
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Under Wendy Gutmann, LOJE Chair, 20 new Lion of Judah Endowment Fund commitments were established, resulting in a total of 175 LOJE Funds, ranking our Federation #1 in the United States – with commitments totaling $24,100,000. Sincere gratitude was expressed to our LOJE members at the “Ultimate Thank You” event featuring the noted designer, Judith Leiber.
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Equally important is the development of the new Jewish Women’s Foundation, with Roxane Frechie Lipton as Chair. We increased the number of new trustees by 19 for a total of 44, representing commitments totalling $210,000. An outreach cocktail and thank you reception, featuring Linda Richman, was held in March.
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A new Jewish Day School Endowment Fund initiative was launched with the endorsement of world-renowned philanthropist Michael Steinhardt. An initial generous gift of $500,000 was made by Dotti Seaman toward a goal of $100 million, to be raised over the next 10 years.
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David Pratt, PAC Chair, engaged John Porter, from the law firm of Baker Botts, LLP, to address more than 125 professionals on the topic of “Family Limited Partnerships – the Timing is Right” at our 21st Annual Seminar for Professionals in May. Our PAC Mitzvah Society grew from 29 to 34 members. This year’s honoree was the late Ralph Solomon. His wife, Delores, accepted the recognition award on his behalf.
Jerry Altheimer, Chair, Grants Committee, distributed scholarships to needy and deserving students totaling $41,950 for college study or trips to Israel for organized and accredited programs. This coming year we expect great things of our new chair, Thomas R. Kaplan.
WO R D S o f W I S D O M We’ve grown to young adulthood. Mature Federations have substantial endowments. Endowments should be one of the focuses of the next 25 years. – Al Gortz
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