Jewish Communal Fund (JCF) is celebrating fifty years of philanthropic stewardship under the new leadership of Rachel Schnoll, who was appointed Chief Executive Officer in June 2022. JCF is the largest and most active Jewish Donor Advised Fund (DAF), managing $2.6 billion in charitable assets for more than 4,500 funds. Founded in 1972, the Jewish Communal Fund has grown tremendously and has facilitated more than $2 billion in charitable giving to thousands of worthy causes in communities around the world.
“It is an honor to join the Jewish Communal Fund at such a critical time in our history,” says Schnoll, a former Managing Director at Goldman Sachs. “At a moment when there are such deep tragedies in the world, whether it be the rising Anti-Semitism, the number of children who go to bed hungry, or the war in Ukraine, there are more worthy causes than ever to which we can donate. It’s a great deal of responsibility and a privilege to help facilitate the philanthropy of our generous fundholders.”
The Jewish Communal Fund believes strongly in the power of multi-generational charitable giving. Over the course of fifty years, many fundholders have encouraged their children and grandchildren to open their own funds and begin a lifetime of giving. JCF recognizes the bonding impact philanthropy can have on a family, evidenced by JCF’s President, Michael L. Stern, who is the third generation of his family to open a fund, preceded by his parents and grandparents, and joined by his siblings. Stern is a partner at Stonehill Capital Management, an investment firm based in New York.
“As JCF celebrates its 50th anniversary, I am honored to play a role in setting the stage for our next 50 years of philanthropic leadership,” says Stern. “JCF has earned the trust of its fundholders, advisors, and community leaders, and plays a pivotal role in making our communities better places to live.”
In FY 2022, Jewish Communal Fund distributed nearly $600 million in grants to charities in all sectors. JCF Fundholders recommended a record-number of grants—80,000—to thousands of charitable organizations, an 11% increase from 2021. The average grant amount rose to $7,368. While grants were distributed to charities in all sectors, the largest categories of grants by dollar amount were directed to charitable organizations whose missions focused on education, community organizations and human services, and Israel/international.
A leader in the world of Jewish philanthropy, JCF distributed 24 percent of assets, above the industry average. A donor advised fund at JCF enables Fundholders to organize their charitable giving with ease and tax-efficiency. JCF’s educational events and tools—including recent webinars highlighting Jewish impact investments available on JCF’s robust investment platform—help Fundholders be more intentional with their giving and increase their philanthropic impact.
Jewish Communal Fund is one of the largest donor advised funds in the country, managing $2.6 billion in charitable assets for 4,500 donor advised funds. For the past 50 years, JCF’s donor advised funds make charitable giving easy, flexible and intentional for JCF’s fundholders. Learn more about JCF by visiting www.jcfny.org or calling (212) 752-8277.