Jump to 4% means Jewish community to get additional $240,000 for year
As Chair of The Ottawa Jewish Community Foundation, I am pleased to announce exciting news that will benefit our whole community.
Thanks to the generosity and vision of donors like yourselves, the Foundation is realizing its goal of ensuring the long-term vitality of Jewish Ottawa. Due to its investment success over the last number of years, the Foundation’s Board of Directors is pleased to share the news that we have made the decision to increase the 2017 disbursement rate to four per cent.
A hallmark of the Foundation is its ability to provide a steady revenue stream for organizations. Historically, this revenue was dispersed at 3.5 per cent on an annual basis. With prudent investing, in 2017, the Foundation achieved a net return of 8.2 per cent, representing $4.8 million in investment income.
The Foundation team takes a careful, responsible and methodical approach when making its decisions. We understand that we have to balance meeting needs in the community today with the ability to continue doing so in the future.
As such, it was with diligent consideration, and after reviewing historic investment returns, that we decided to increase disbursements in order to further help people today – and, we hope, also attract and inspire additional philanthropists.
The increased distribution rate means the Ottawa Jewish community will get approximately $240,000 more for the year.
The decision has already been enthusiastically received by beneficiaries.
“Tamir values the Foundation because we know our dollars are invested wisely, and, while being responsive to current and real budget pressures, funds are also there for the next generation,” explained Bob Thompson, the immediate past president of Tamir.
While this course of action will be evaluated annually based on investment returns, we strongly feel this is the right decision for our community.
Indeed, with currently more than $65 million in assets under management, the Foundation has the ability to provide significant and meaningful support to an even larger number of people and organizations.
For our generous community members, this is a perfect time to open a fund or to add to one, and join us in enhancing Jewish life now and for the future. There is an expression that says: “The songs of our ancestors are the songs of our children.” This sums up Foundation’s work as we strive to ensure that this song continues, beautiful and strong for many generations to come.
Gillie Vered is the Chair of the Ottawa Jewish Community Foundation. To find out more about the Foundation, please contact the Director of Development, Micah Garten, at firstname.lastname@example.org, 613-798-4696, ext. 270.