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www.jewishjacksonville.org
Jacksonville Jewish News • August 2016
JEWISH COMMUNITY FOUNDATION OF NORTHEAST FLORIDA
Don’t have to be a millionaire JCF takes local Jewish professionals on recent investment summit to Israel $41,000, $71,000, $43,000. These are the amounts of tuition, room and board for University of Maryland, Harvard University and the average costs for an out of state student according to the College Board’s web site. It is interesting to note that 812 universities have $529-billion in endowment assets. These endowments, funded largely by alumni, are a vital resource for student scholarships, research funding, benefiting countless individuals across the country. Yet even with the vastness of these endowments, college students and their families need to find additional resources to fund the college experience. Books, travel, healthcare and student fees add to the cost of securing a college education. Establishing an endowment fund at these institutions often requires a minimum donation. At Duke University a minimum of $100,000 is needed to start a financial aid college scholarship fund. There is a great alternative here at the JCF to help you create a scholarship endowment fund in any amount. The fund can be in your name or in honor or in memory of a loved one, and you don’t have to be a millionaire to start a fund. Here at the Jewish Community Foundation of Northeast Florida, Inc., donors have the opportunity to establish college scholarship funds that benefit Jewish and non-Jewish students from Jacksonville. Donors may establish awards to recognize Jewish students who have demonstrated leadership in and out of the classroom. Others may wish to provide stipends for leadership development for professionals employed in our Jewish agencies and organizations or for teacher training for our religious or Jewish day schools. If you are thinking you might like to start a college scholarship endowment fund or a special award fund, please consider some of the following benefits of launching that fund with the JCF: • Support local high-achievers: A scholarship fund with the JCF can ensure that your fund’s annual award benefits Jacksonville Jewish young adults, thus helping your fellow community members. You can even give priority to applicants who attend your alma mater or are members of your fraternity or sorority. • Build the Jewish connection: An award from your scholarship fund with the JCF can be allotted to Jewish individuals, if preferred, to
BY JEFF KLEIN
Jewish Community Foundation of Northeast Florida
MONEY MATTERS BY JEFF KLEIN, Executive Director
support local Jewish students and leaders, and also strengthen their connection with the Jacksonville Jewish community. • Meet the award winners: The JCF hosts a Scholarship & Emerging Leader Awards Reception, where award winners are honored for their achievements, and where the fund donors can meet the awardees, which is always a wonderful celebration. • Earn a tax deduction: By establishing a fund with the JCF, you will qualify for charitable tax deductions, and your gift can be structured in a number of ways, like donating stock or bonds, leaving a bequest in your will, or utilizing a charitable remainder trust. The JCF and your professional advisor(s) can collaborate to ensure maximum tax-efficiency for your gift. • Create your legacy: Your fund will support the community for generations on end, and will serve as a way to remind your loved ones about giving back. The JCF’s Scholarship & Emerging Leader Awards are a very impactful and meaningful type of fund for many of our donors. Recently a JCF donor said “This fund got started when I suggested to my mother-in-law (who has since passed away) to donate to a scholarship fund to help Jewish students in financial need attend college. She loved the idea and I worked with the JCF to launch the fund,” he explained. “My late first wife was very interested in adolescent medicine and helping needy adolescents succeed in life, and her mother, wanted to help Jewish children. This scholarship fund beautifully combines those wishes and also brings me great pleasure every time we award the scholarships.”
The Jewish Community Foundation of Northeast Florida Inc. was excited and honored to be a part of the Jewish Federations of North America’s first ever Israel Investment Summit this summer. Local participants included Jeff Klein, JCF Executive Director; James Nolan, Esq. of Gray Robinson; Michael McCranie, CFP AEP of McCranie Wealth Management; Jeffrey M. Jacobs, CPA of JJCPA LLC; Missy Blanton of ECM Group; and Edward Feldman of Fidelity Investments. The local delegation was part of a larger group of 27 individuals from North America representing Jewish community foundations and endowment funds. The mission of the summit was to enhance the participants’ understanding of the investment opportunities in Israel and to encourage foundations as well as private investors to consider including Israel in their investment portfolios. Highlights of the summit included meeting with private equity and venture capitalists and one of the first stops on the itinerary was the Tel Aviv Stock Exchange which included
Jeffrey Jacobs, Missy Blanton, James Nolan, Michael McCranie, Edward Feldman and Jeff Klein at the opening bell of the Tel-Aviv Stock Exchange
the opening bell trading ceremony. More than 17 briefings were held during the trip, including large investment firms Psagot Investment House in Tel Aviv and to more boutique firms CyberSpark in Be’er Sheva. The group was also privileged to meet with the top leadership in the Israeli economy, including Karnit Flug, Governor of the Central Bank of Israel, in addition to a private meeting with Reuven Rivlin, President of the State of Israel.
The trip was coordinated locally by the JCF Professional Advisory Committee, chaired by Mark Kraus CLU. The PAC’s objective is to engage professional advisors in the community so that they may learn about opportunities to benefit their clients with financial and estate planning strategies, which may include a charitable component. Mel and Debbie Gottlieb generously underwrote costs associated with the Israel Summit for our local delegation.
Highlights from the JCF’s trip to Israel
Embassy of Israel’s Acting Minister for Economic Affairs, Inbal Hanasab, Edwatd Feldman, James Nolan, Michael McCranie, Shai Babad, Director General, Israel Ministry of Finance, Jeff Jacobs, Jeff Klein, Miss Blanton
James Nolan (far left) who was meeting with the current President of the State of Israel, Reven Rivlin
From left to right, James Nolan, Dr. Karnit Klug, Governor, Bank of Israel, Alfred Wheeler, and Edward Feldman collaborate during a meeting
Jeff Jacobs and Michael McCranie pose for a quick pic in Bee’er Sheva at the offices of high tech venture capital, Jerusalm Venture Partners
JCF Executive Director Jeff Klein taking his turn ringing the opening bell of the Tel-Aviv Stock Exchange
JEWISH COMMUNITY FOUNDATION OF NORTHEAST FLORIDA 2016-17 FEDERATION ALLOCATION: $83,560