jcfmontreal.org ANNUAL REPORT 2020 RESILIENCE INDEX 04 Letter from the President 05 Letter from the Executive Director 06 COVID-19 Crisis Relief 07 Mission, Values, Commitment 08 Grantees 16 Philanthropic Development 18 Financial Summary 20 Investment Report 22 Person of the Year 2019 TABLE 24 LIFE & LEGACY ® OF 26 Nova Grants CONTENTS 28 Scholarships 30 PAC Seminar 32 Governance 34 Professional Team INDEX MESSAGE FROM THE PRESIDENT ‘‘ Between stimulus and response there is a space. In Family Store, Tomche Shabbos, the Chessed Fund, just to that space is our power to choose our response. In name a few. We also understood that we had the power our response lies our growth and our freedom. to respond to the broader community and we quickly authorized emergency funding to Centraide and La Viktor Emil Frankl, (1905 – 1997), Auschwitz Fondation du Grand Montreal, who were organizing food ‘‘ survivor, author of ‘Man’s Search for Meaning’ and shelter relief for our fellow Montrealers and Quebecers. I believe that our response to the novel coronavirus thus Next year the Jewish Community Foundation will be far would have made our founders proud. Their vision, celebrating its fiftieth anniversary! We will be honoring the five decades old, foresaw the need for a rainy-day fund women and men who through their dedication and hard and thanks to them we were able to not only respond to work have helped ensure the vitality of Montreal’s Jewish the crisis but will have the ability to plan for a recovery community. One such person is the late Arthur Pascal, who, that will keep our community strong. together with other founders of the JCF understood the I wish to thank Kathy Assayag on behalf of the JCF board importance of planning and securing the future. The JCF and the community at large. Kathy’s leadership and was established with the idea of creating an emergency perspective garnered numerous requests to sit at so many fund to respond in the event of an adverse situation. tables where her skills and broad networks could mobilize Today, 49 years later, I am in awe of their foresight. As resources with focus, determination and compassion. I Frankl suggested in his profound words, in the space also owe a debt of gratitude to the staff of the JCF who of COVID-19, an unimaginable global pandemic, the continued to punch well above their weight in order to JCF had the power to choose our response based ensure we could respond to our generous donors in on our mission and our financial strength. In March, facilitating their personal philanthropy at this critical time. as the lockdown measures took hold, thanks to our I thank the Executive and Board of Directors for their emergency reserve fund capitalized over many years, we leadership and support over the course of the year and were uniquely positioned to choose our response. We particularly in the past 6 months during the pandemic. immediately approved $1.5 million towards relief efforts The pandemic will continue to create pressures and facilitating and convening an integrated response to challenges on our beloved Community. The JCF will stand Montreal’s emergency needs. strong in our response as we must ensure the future of We were able to convene a Community response in our Community and allow for the next generation to partnership with Federation CJA including food relief nurture the freedoms we have enjoyed living in such a to isolated seniors and newly vulnerable families. We storied Community. In our response, as Frankl said, we will joined forces with the Hebrew Free Loan Association of secure the growth and freedom for those here and abroad Montreal, to offer interest-free loans to small businesses who will need our collective help now more than ever. who were impacted by the pandemic and who did not qualify for the government backed loan program. We Wishing you all a happy and healthy new year ahead. also funded 15 Jewish day camps to help subsidize fees, Sincerely, operate safely in smaller groups and enabled them to purchase the necessary personal protective equipment. Danny Ritter, CA, CPA, CFA Together with Federation CJA, we funded COVID relief President grants to several aid organizations including MADA, the The Jewish Community Foundation of Montreal 4 RESILIENCE through the generosity of our valued fundholders who in the past year, collectively distributed over $114 million to MESSAGE diverse charities and programs. It has been humbling to witness the determination of our donors who acted so FROM THE decisively during this time of uncertainty. It has also been inspiring to witness the commitment of EXECUTIVE the members of the JCF professional team who despite working remotely, juggling kids at home, or taking care of parents – have continued to dedicate themselves to DIRECTOR serve our clients. I want to thank Joelle Mamane for taking care of the business side of our operation so For the past seven years, I have had the privilege of leading effectively and express gratitude to Bobby Kleinman for the Jewish Community Foundation. For each of those the wisdom and experience he so generously shares. years, as I prepared to address our valued fund holders in our annual report, I would choose a word in Hebrew Finally, a word of thanks to Danny Ritter, our President to highlight a particular thought. These words, deeply who has been a source of formidable support to me. I am meaningful to me, were relevant to our work in promoting grateful for the important discussions we had aimed at philanthropy and reflected the experience of that year. deciding how best we could respond to the crisis. Under his leadership and with the support of our Board members As I contemplated the events of the past six months, I we deployed an emergency fund that did and will continue pondered on what word I could possibly use to describe to do a lot of good. At the core of our board members’ what we are currently going through. Amidst the purpose is the will and ability to make a difference, based COVID-19 pandemic, we have been challenged in ways on a deep and true sense of care for others. previously unimaginable. We all encountered unforeseen adversities of, at times, existential proportions. Upon As the COVID-19 pandemic is far from being resolved, reflection, the word that came to mind was resilience. we will need resilience and endurance to continue to One of the possible corresponding words in Hebrew is meet the many challenges ahead. ‘Amidut’, meaning to stand-up, to recover, to stay strong. With this, I wish to express my gratitude to our fundholders What is it that makes us resilient and enables us to and colleagues, who together, make miracles happen at surmount difficulties? The answer is purpose, whether it times that matter most. is through our work, being there for our loved ones, or by supporting our community. In other words, finding purpose by looking beyond ourselves and serving others. With warmest wishes, Nowhere is that concept better reflected than by giving Kathy R. Assayag tzedakah. This act of social justice is demonstrated Executive Director ANNUAL REPORT 2020 5 COVID-19 CRISIS RELIEF At the very start of the pandemic the Jewish Community Foundation of Montreal deployed its emergency fund to respond to people in need. Relief efforts were done in partnership with Federation CJA and have been primarily focused on food relief, support to isolated seniors, providing safe day-camp experiences, as well as a small business loan program. The JCF has committed $1,500,000 towards relief efforts thus far. Our ability to do so is made possible by the fees we charge our clients, as well as accumulated investment earnings, which over time helped us build a reserve for emergency purposes. We thank our fundholders for making this possible and pledge to continue to do everything we can to help people recover from the crisis. JEWISH COMMUNITY BROADER EMERGENCY RELIEF FUND COMMUNITY RELIEF $100,000 $100,000 Allocated to Allocated to 15 summer camps La Fondation du Grand Montréal $1.5 Million $300,000 $150,000 Allocated to the loan program* Allocated to Centraide $580,000 Awarded to 73 organizations for food aid and support for the elderly *In partnership with Hebrew Free Loan Approved *Numbers as of August 15, 2020 6 MISSION The Jewish Community Foundation’s mission is to grow a strong, sustainable community that embodies the Jewish values of tzedakah, tikkun olam and dor I’dor; from one generation to another. VALUES We want to ensure that Montreal and its organizations remain strong and vibrant by helping build and carefully steward financial resources and offer tax-smart solutions that magnify the power of giving to create more impact. We are here to help individuals and families support the causes they care about and achieve their philanthropic goals. COMMITMENT We are committed: • To helping individuals and families support the causes they care about and achieve their philanthropic goals • To finding solutions that are tax-wise, create greater impact and reflect our clients’ values • To ensuring Montreal and its organizations remain strong and vibrant by helping build and carefully steward financial resources $114 Million $1.43 Billion YEAR Grants & Charitable Donations Assets Under Management AT A 2,465 1,100 GLANCE Number of Funds Number of Grantees ANNUAL REPORT 2020 7 OUR GRANTEES Our fundholders continue to direct their philanthropic dollars to the causes they hold dear to their hearts, in both the Jewish and broader community. Last year, the Jewish Community Foundation distributed almost $114 million to a total of 1,100 organizations and charitable programs.