We are pleased to share the Jewish Community Foundation’s announcement of the establishment of a new $1 million endowment fund to support Temple Sholom!
Jewish Community Foundation announcement:
Thanks to the foresight and generosity of a member family who seeded the fund, Temple Sholom now has a significant endowment fund that will provide the congregation with stable, long term income for the synagogue in perpetuity.
We had the pleasure of working with the family, who have a deep appreciation of the important role that prudent fund management and strong governance play in ensuring the security and performance of their assets over time.
"We chose to establish this fund at the Jewish Community Foundation, because we know that they will manage it carefully and expertly. We are thrilled that Temple Sholom will be able to rely on income from the fund to meet its needs for generations to come,” said the family.
It was important to the family that they be able to leverage their giving to inspire others. So, in addition to seeding the fund, they established a program to match contributions, which not only maximized their own impact but that of every donor who joined them in giving.
“The Foundation supported our staff and leadership to confidently approach congregants about contributing to the fund," said Cathy Lowenstein, director of congregational engagement at Temple Sholom. "We were able to give everyone the opportunity to participate, which created the momentum necessary to reach our goal.”
Institutional endowment funds enable organizations to focus on their mission and mandate. As a vibrant, growing congregation with a large number of young families, Temple Sholom benefits from the stability a professionally managed fund brings, so they can plan for a strong future.
No one understands the importance of this more than Rabbi Moskovitz, who sees firsthand how Temple Sholom's needs are evolving and the value of being able to plan ahead to meet them. "The endowment will ensure our ability to serve every facet of our congregation through dynamic programming, strong leadership, and robust outreach for generations to come," he told us. "It also means we can undertake a long term approach to planning, because we have the financial strength to adapt to the changing needs of our congregation.”
Many local Jewish agencies, congregations and other organizations have endowment funds at the Jewish Community Foundation, including the Jewish Community Centre, Jewish Family Services, the Vancouver Holocaust Education Centre, and more. In addition, individual fund holders often choose to support an organization through their own donor advised or designated funds.
Diane Switzer, chair of the Foundation's board of governors, shared her thoughts on the importance of institutional funds and how they factor into the broader role of the Foundation: “We are very proud to manage endowment funds on behalf of so many crucial organizations across our community, and we take our responsibility to manage these investments prudently extremely seriously. This is how we carry out the important work of building and enriching our community.”
You can make a contribution to the Temple Sholom Endowment Fund at the Jewish Community Foundation here. If you’re interested in establishing a fund for an organization you’re involved with or an area of need you care about, please contact Marcie Flom, executive director, at 604.257.5100.