2012 - Jewish Community Foundation of Montreal

what dreams are made of
1971
2012
2012 AnnUAL REPORT
THE JEWISH COMMUNITY FOUNDATION OF MONTREAL
Taking care of tomorrow... today
1971
2012
message from the president and
executive director
A year ago, we talked a lot about dreams – yours, ours and those
who rely on them to live the quality of Jewish life that was built
on the dreams of others. Our 40th anniversary has provided
numerous occasions to realize how far we have come. Today,
we have much to report on the dream front.
Last year, we issued a record-number of 4,500 cheques to almost
500 organizations. We distributed almost 24 million in funds to
hundreds of social service, educational, religious and community
organizations on behalf of our donors. That is staggering.
It wasn’t all about the money. It was about doing good and helping
others to do good. And in doing that, we fulfilled dreams – for our
donors and their beneficiaries.
We are so grateful for all the opportunities that brought us
together this year. Our annual Book of Life signing event hosted
by Barbi and Stanley Plotnick, was attended by a diverse and
enthusiastic group of individuals and families; our B’nai Tzedek
kids demonstrated their sense of community responsibility and
did us proud; our annual scholarship presentations connected
donors and grateful recipients in what has come to be a most
powerful and emotional demonstration of what a family can do
for others. And our Man of the Year, David Azrieli, showed us the
power of dreams and its ability to bring you through darkness
and chaos into a meaningful life of making life better for others.
Our visioning process has delivered what we hoped it would –
measurable results to stimulate community growth and a
vibrant future. We are proud to be a partner of the Federation
Gen J initiative to build a stronger and better community through
identity-building programs that support access to quality Jewish
education, the camping experience and outreach and engagement
opportunities.
We are reminded every day of the goals simply stated 40 years
ago by Arthur Pascal z”l and other leaders like Milly Lande z”l and
Boris Levine z”l, who we lost last year, to provide a safety net for
the future and enhance the quality of Jewish life.
They quietly set out to do their jobs, with passion and conviction,
focussing on the future. They inspired others to share their
dreams. We hope we have sustained their vision and helped
realize their dreams.
Dreams imagined; dreams fulfilled. That is our mandate-and our
promise to you.
Thank you – our donors, our leadership and our professionals –
for bringing your dreams to us and for all the Tzedakah you have
inspired with your example.
Shana Tovah,
We continued to examine the way we do business, focussing a
critical lens on all aspects of our operations. We learned a lot
from you. Your input will help us do even better when it comes
to communicating and serving you in the future.
Joel Segal
Robert Kleinman FCA
President
Executive Director
3
Barry, you brought so much to this
Foundation: strong leadership, grace,
innovation and a positive attitude, no
matter what the challenge.
1
- Joel Segal, incoming president
JCF 40th annual meeting
2
The Foundation’s Annual Meeting
began the yearlong celebration
of the dreams of its founders,
its honouree and forty years of
leadership and growth that continue
to enrich the Montreal Jewish
community and represent the vision
and values of its donors. Joel Segal
was installed as president, Brenda
Gewurz as vice-president.
David Azrieli C.M., CQ, 2011 Man
of the Year was recognized for his
David you have enriched Jewish lives and transformed
the landscape of Israel. It is an honour to honour you.
- Joel Segal
Other Meeting Highlights
philanthropic accomplishments
here and in Israel.
Total assets of the Foundation grew
from $ 253 to $ 285 million.
In his remarks he announced
the creation of a $1.8 million
endowment fund to benefit the
Miriam Home.
$40 million in gifts were received.
$27 million in allocations were
made to benefit the community.
1981
4
3
New board members include Kathy
Lempert, Philip Nadler CA, Gideon
Pollack and Francine Wiseman.
Alyssa Wiseman and Adam Shapiro,
B’nai Tzedek Council co-chairs,
received the Passion for Action
award for their outstanding
leadership.
The work we do at the Foundation is truly, as they say,
‘the stuff dreams are made of’.
- Barry Pascal, President
4
Presented annually by the Foundation’s
Professional Advisory Committee (PAC), the
2012 program served up a variety of current
topics including cross border issues, charitable
giving updates and voluntary disclosure and
assessment practices; timely issues appealing to
practitioners who, as part of their practice, have
occasion to work with their clients incorporating
philanthropy in their estate plans. Presenters
included Abraham Leitner, Davies Ward Phillips
& Vineberg LLP, New York; Steve Moses CA, PSB
Boisjoli LLP; Sydney Sweibel, Sweibel Novek LLP
and JCF Executive Director, Robert Kleinman FCA.
As in previous years, several professionals were
honoured for their successful efforts to encourage
bequests and gifts to the Foundation.
1
professional development seminar
Together, we have been able to provide unparalleled expertise that
serves personal and philanthropic goals.
- Rhonda Rudick, PAC co-chair
1980
2
OPPOSITE PAGE
1. Barry Pascal, Alyssa Wiseman
2. Joel Sega, Barry Pascal
3. David Azrieli, Joel Segal
4. Mildred Lande C.M. z”l, Arthur Pascal C.M. z”l
THIS PAGE
1. Robert Kleinman FCA, Joel Segal, Sydney Sweibel, Rhonda
Rudick, Phil Nadler CA, Abe Leitner, Steve Moses CA
2. Hillel Becker, Peter Wolkove, Carl Laxer, Oscar Respitz Q.C.,
Barry Clamen FCA
3. Co-chairs Rhonda Rudick (2nd from left) & Phil Nadler CA (far
right) with 2012 honourees: Tasso Lagios, Mark Brender,
Barbara Novek, Oscar Respitz Q.C., Barry Pascal, Richard
Vineberg FCA, Jayne Blumenthal, Seth Dalfen
3
5
book of life
2012 SIGNERS
Shoshana & Joe Chemtob
Miriam Cohen
Dorothy Dorsey
Michael Engels
Beverley Friedman
Nancy Geller
Henriette & Marcel Korner
Joel Milgram
Samuel Orshan
Barbi & Stanley Plotnick
Jane & Lawrence Plotnick
Sid & Miriam Ross
Harriet Saalheimer
Nancy & Moti Sherer
Shirley & Nathan Wasser
1
No one has to tell you we have an extraordinary community. One read-through
of the Book of Life brings our community – and our families – to life.
- Joel Segal
Since 1993 the Foundation has honoured donors by
inviting them to submit their family story. Every year,
at the signing evening, families come to officially
sign their excerpts. The 2012 event was hosted by
Stanley and Barbi Plotnick.
Among the Book’s authors – Holocaust survivors,
war heroes, self-made entrepreneurs and grateful
immigrants who have started new lives in Montreal.
At the same time, the Book is a testament to those
no longer with us who left an enduring legacy of
leadership and Tzedakah.
2
2
I arrived from Chicago in 1943, the bride of Louis Dorsey.We enjoyed
a happy life for over 55 years. … Active in our community, Louis was
particularly devoted to the Y, where he was Honourary President and
active in sports well into his 80’s! I am proud to have initiated the
annual Abramowitz Hadassah Art Auction.
- Dorothy Dorsey
OPPOSITE PAGE
1. Sam Orshan and friend
2. 1st signers of the Book of Life. Honourary presidents
Oscar Respitz Q.C., Barry Clamen FCA,
Mildred Lande C.M. z”l, Michael Blumenstein,
Sheila Zittrer
3. Joe & Shoshana Chemtob and family
THIS PAGE
1. 2012 Book of Life Signers
2. Stanley & Barbi Plotnick, Robert Kleinman
3. Dorothy Dorsey
6
3
1993
1
…My life is a long story about a Jewish boy,
who succeeded with God’s help. My wish is
to help strengthen Jewish organizations,
for future generations…
2
- Sam Orshan
book of dreams
I moved from Egypt to Montreal at the age of 13… At
the age of 25 I met Shoshana Dangoor, an Israeli tourist
and, one month later, convinced her to marry me.We had
limited language skills, few friends, no money. But we had
determination. …
- Joe & Shoshana Chemtob
3
7
1
2011 scholarship recipients
The annual scholarship presentations took place in September to an overflow
group of students, parents and donor families. Always a special event, it
connects donors and students and puts a face on those in whose memory the
scholarship was created.
EVELYN JOY ABRAMOWICZ SCHOLARSHIP
Sigalit Gal
THERESE & DAVID BOHBOT SCHOLARSHIPS
Anthony Cimino, Levy Corobow
Jennifer Elbaz, Kimberly Elbaz
Eli Gershtein, Chana Notik
Eric Penney, Rebecca Rouimi
Alisa Soukhodolskaia, Yuri Stavchanskyy
Debbi Zeituni
JACK GITLITZ CA MEMORIAL SCHOLARSHIPS
FOR STUDY IN ISRAEL
Bassia & SasCha Marmerstein
MEMORIAL SCHOLARSHIP
Sarah Berger Richardson
Elizabeth Moorhouse-Stein
Maria Fuller, Kevin Gan
HARRY HOPMEYER MEMORIAL SCHOLARSHIP
Angela Wilson
Adam Plotkin
DR. OSKAR & SALLY SCHICKLER SCHOLARSHIPS
MITCHELL KARPER MEMORIAL SCHOLARSHIP
Ana Carina Dumitru, Tania Sasson
Samantha Benlolo, David Plotkin
MITCHELL KARPER MEMORIAL SCHOLARSHIPS
FOR STUDY IN ISRAEL
MARLENE BRAND MEMORIAL SCHOLARSHIP
Esther Viragh
BERNICE & GORDON BROWN SCHOLARSHIP
Jessica Erin Meirovici
MCGILL DEPT. OF JEWISH STUDIES
JACK GITLITZ CA MEMORIAL SCHOLARSHIPS
Elad Emru
LIELA KLINGER KURTZMAN
MEMORIAL SCHOLARSHIP
Yehoshua Friedman Memorial ScholarshipS
Amanda Beker
David Abitan, Olivia Bensimon
Sora Binder, Akiva Dror
Levi Dworkin, Rachel Furst
Samara Kandelshein, Rachelle Kuperstok
Keren Lallouz, Miriam Mandel
Rivka Novoseller, Leah Peres
Elisheva Rand, Meyer Rand, Oren Wasser
Jonathan Lazare, Michael Schwartz
SHEVA & DAVID HONIG SCHOLARSHIP
Leehi Yona, Jessica Yudcovitch
FANNY AND ERNEST FIEDERER SCHOLARSHIP
Florence Mudzongo
MICKI & NORMAN KEESAL;
SAMUEL POLLACK SCHOLARSHIPS
HENRIETTE & MARCEL KORNER SCHOLARSHIPS
Daniela Carolina Cymberknop
Manny Weiner SCHOLARSHIP
Bat El Ohayon, Ronnie Ollo
Rebecca Cohn
HADAR CHEMTOB MEMORIAL SCHOLARSHIP
Henry Oelberg MEMORIAL SCHOLARSHIP
Marion Becheri
DR. OSKAR & SALLY SCHICKLER SCHOLARSHIPS
Bakinaz Khalifa Abdall, Racheli Haliva
KAREN E. LATT MEMORIAL SCHOLARSHIP
Karen Willoughby
LEVITT FAMILY FOUNDATION SCHOLARSHIPS
Joanne Haboucha, David Perez
Rebecca Perez, Melissa Szilagyi
IRENE BRAND LIEBERMAN
MEMORIAL SCHOLARSHIP
Allyson Cooperman
2
1980
3
This award is making a dream of mine a reality, bringing
an incredible educational opportunity within my reach.
- Ron Ollo
8
A new generation of philanthropists
We were invited to do something good; feel great;
be involved... Mission accomplished.
B’nai Tzedek is a teen philanthropy program founded
on the fundamental principle that Tzedakah is far
more than just a passive act of charity. It is a lifestyle.
Today, there are over 150 B’nai Tzedek members. Each
of them cares deeply about some cause or organization.
Just before Pesach, B’nai Tzedek kids got together
with BBYO Eastern Region to exchange ideas on community leadership and service. Co-chaired by Talia
Bensoussan and Lauren Wiseman, the presentation
included BT basics of fund management and allocations. Following brunch, the action moved to a nearby
warehouse where teens helped pack B’nai Brith
Pesach baskets. Some teens even got the chance to
deliver the baskets and experience the gratitude of the
families they visited.
1
It was a great year in so many ways but the
highlight for me was watching BT kids pack Passover
baskets for those needy families among us.
- Fran Wiseman, BT chair
What BT kids cared about in 2011
2
3
OPPOSITE PAGE
1. 2011 Scholarship recipients
2. Ron Ollo, Phyllis & Ian Karper
3. Gordon Brown z”l, and recipent
THIS PAGE
1. Talia Bensoussan, Lauren Wiseman, Co-chairs, BT Council
2. “Brunch ‘n’ Baskets”
3. Joel Segal, Francine Wiseman, BT Chair,
Kathy Cohen, Robert Kleinman
Agence Ometz
Alzheimer’s Group
Auberge Shalom…pour femmes
Autism Speaks Canada BBYO
Bialik High School
Camp B’nai Brith
Combined Jewish Appeal
Dans la Rue
Free the Children
Friendship Circle
Help Haiti
JPPS Library
Sir Mortimer B. Davis Jewish General Hospital
JEM Workshop
Make a Wish Foundation
Meals on Wheels
Montreal Holocaust Memorial Centre
OneXOne Children’s Charity
Segal Cancer Centre
Solomon Schechter Academy
Sun Youth
Toronto Zoo
UTT/Herzliah
Weizmann Canada
B’nai Tzedek
Kids who Care
9
We are greatly appreciative of those individuals and families who, during their lifetime or by
a will bequest, have demonstrated that Tzedakah and the spirit of Tikkun Olam live in their
hearts and in those of their families.
Designated Funds
B’nai Tzedek Funds
Heather Adelson
Harry, Eva and David Geller
Memorial Fund
GEN J Education Fund
Joseph Katz Scholarship
Felice Pascal Memorial Fund
Rabbi Sidney Shoham
Scholarship Fund
Henry Jacob Bassel
Jordan Bicher
Harrison Brock
Theo Cape
David Kalichman
Joshua Levine
Noah Matarasso
Sara Masciotra-Milstein
Naomi Ovadia
Ariel Rosen
Zachary Rosen
Jonah Davis Yanofsky
Family Foundations
Azrieli Foundation Endowment
for the Miriam Home
Fondation de Marie Francoise
et Marc Beauchamp
Samuel & Saidye Bronfman
Family Foundation
Rabbi Ronnie Cahana Fund
Mark Cohen Fund
Jacques Foisy
Marvin Kasner Fund
PearTree Family Foundation
RSM Richter Chamberland Fund
Jeremy Reitman Fund
Stephen Reitman Fund
Barbara Segal Family Foundation
Nabil Tabet Fund
Avi Wallerstein Fund
we remember
Bequests
Oscar Birnbaum z”l
Edith & Edward Jakubowicz z”l
Hilde Jasen z”l
Charles Lerner z”l
Marion Schneiderman z”l
Dr. Steven S. Zalcman z”l
Jack Zimmerman z”l
Bella Zuckerman z”l
Marjorie Bronfman z”l
1999 Woman of
the Year
Legacy Society
Michael Engels
Deborah Weintraub
Gabriel Weintraub
Stanley Hyman z”l
President 1999-2001
April 1, 2011 – August 1, 2012
new endowment funds
Martin Levine z”l
“…It’s my honour to continue my
family’s legacy of contributing to a
prosperous Jewish community and
a strong, democratic, Jewish State
of Israel.”
- Michael Engels
10
1
new donors
...Through the exemplary leadership of my parents, Lucy
and Allan Bronfman, I developed a commitment to help
ensure the well-being of community life both in Canada
and in Israel. My bond with Montreal’s Jewish community
has never been broken and I hope my children retain the
same significant feelings for their roots.
- Edward z”l and Marsha Bronfman
1
n z”l
...Our parents were deeply involved and committed
to many Jewish organizations and we are fortunate
to be able to follow their leadership.
- Joel Milgram
2
...My parents, Eva and
Harry, both worked, and
raised my brother David
and me in a traditional
Jewish home. They sent us
to UTT to benefit from a
Jewish education. Being a
part of the Foundation is
a way for me to honour
their memory...
1993
OPPOSITE PAGE
1. Michael, Nancy &
Steven Engels
- Nancy Geller
THIS PAGE
1. Joel Milgram
2. Edward z”l & Marsha
Bronfman
3
3. Nancy Geller
11
9.9
4.2
2012 allocations
6.2
36.9
Community Organizations
Human Services
16.5
Jewish Culture & Education
Religious Institutions
Israel / Overseas
Miscellaneous
26.2
Our donors create legacies through the
establishment of endowment funds which
are invested with professional investment
managers under the guidance of the
Foundation’s investment committee. A 5%
allocation is granted annually according to
donors’ instructions.
Designated funds enable donors to
select programs or causes to sustain in
perpetuity. Allocations in their names are
made annually to those organizations
which are most meaningful to them.
Family Foundations/philanthropic funds
offer an easy and meaningful way to give
as a family. Allocations are decided on an
annual basis in consultation with family
representatives.
Undesignated funds are created by
donors who wish to leave a legacy without
any restrictions. These funds enable
the Foundation’s allocations committee
to respond to changing needs of our
community and fund innovative projects.
Jcf allocations committee grants
from Undesignated Funds
COMMUNITY ORGANIZATIONS
Federation CJA (Gen J)
$332,700
Communauté Sépharade
Unifiée du Québec
38,500
Hellenic Community of Greater Montreal 5,000
5,000
Jewish Public Library Leave a Legacy 5,000
JEWISH CULTURE & EDUCATION
Shaping Our Future
United Talmud Torahs of Montreal
Klez Kanada Mod Three Productions LLC Segal Centre for Performing Arts Canadian Centre for Architecture D.O. Film Tellastoryfilms.com
12
209,400
70,000
40,000
25,000
12,000
5,000
5,000
5,000
RELIGIOUS INSTITUTIONS
HUMAN SERVICES
Jewish Unity Partnership Inc. Ghetto Shul 20,000
18,500
MISCELLANEOUS
23,700
Total
$819,800
TZEDAKAH ALLOCATIONS IN PARTNERSHIP
With Jcf Donors
Designated and Philanthropic Funds
COMMUNITY ORGANIZATIONS
Combined Jewish Appeal $6,445,500
UIA Federations Canada 554,600
Fondation du Grand Montréal 218,700
174,400
Foundation for the YM-YWHA 138,000
Montreal Holocaust Memorial Centre YM-YWHA Montreal Jewish
Community Centres 130,100
122,600
Camp B’nai Brith Inc. 106,200
Centraide of Greater Montreal United Jewish Appeal of Greater Toronto 78,000
Communauté Sépharade Unifiée du Québec 77,600
Association Sépharade de la Banlieue
Ouest de Montréal 66,400
54,000
Camp Moshava B’nai Brith Canada 47,600
Communaute Sepharade de Ville St. Laurent 29,000
Camp Massad 25,100
22,000
David Suzuki Foundation March to Jerusalem 15,700
13,500
Bathurst Jewish Community Centre Centre Communautaire de la petite Italie 12,500
11,700
B’nai Brith Foundation Canadian Centre for Diversity 10,000
Canadian Amateur Synchronized
Swimming Assocation Inc 10,000
8,000
Trevor Williams Kids Foundation Tyndale St-Georges 7,300
6,500
Radio Shalom YMCA Foundation 6,000
Choices for Youth Inc 5,000
Eastern Ontario & Western Quebec
Christmas Cheer Foundation 5,000
Info-Secte / Info Cult 5,000
The Sir Mortimer B. Davis - Jewish
General Hospital Foundation 1,714,800
431,700
Montreal Heart Institute Foundation Montreal General Hospital Foundation 394,500
390,900
Miriam Foundation The Montreal Children’s
Hospital Foundation 342,300
Chabad Lubavitch Youth Organization 286,300
230,500
The Friendship Circle Mizrachi Montreal 189,600
150,000
Chaverim Donne La Main Alzheimer Groupe Inc. 127,600
CHUM - Fondation du Centre Hospitalier
de l’Universite de Montréal 107,100
103,400
Maimonides Hospital Foundation Cummings Jewish Centre for
Seniors Foundation 102,700
92,000
Agence Ometz Jewish Hospital of Hope
Eldercare Foundation 89,800
Mary Katz Claman Foundation 80,000
Auberge Madeleine 75,000
66,000
Mount Sinai Hospital Foundation Juvenile Diabetes Research
Foundation Canada 55,800
Auberge Shalom... pour femmes 54,900
50,700
Maison Shalom Toujours Ensemble 50,700
50,000
Foundation for Gene and Cell Therapy Donald Berman Yaldei Developmental Centre 49,100
Royal Victoria Hospital Foundation 47,200
Fondation Cité de la Santé de Laval 41,100
40,400
Sun Youth Organization Hebrew Free Loan Association 37,400
36,000
Fondation de l’Hôpital Sainte-Justine Sir Mortimer B. Davis JGH Ladies Auxiliary 35,600
35,000
Cancer Research Society Inc. JEM Workshop Inc. 33,600
Just for Kids Foundation 32,700
31,100
Canadian Cancer Society MAZON Canada 31,000
30,000
Sunnybrook & Women’s Foundation Honor Aid Society 25,600
Fondation IntgréACTION du Quebec 25,000
25,000
Mount Sinai Hospital Corporation OneXOne Foundation 25,000
25,000
St. Mary’s Hospital Foundation Cummings Jewish Centre for Seniors 23,100
Migdal Ohr Tower of Light
Children’s Foundation 22,800
20,900
Emunah Women of Canada Doctors without Borders 20,100
MAB-Mackay Rehabilitation Centre 20,100
Jewish Community Rehabilitation Foundation18,700
Chabad Lifeline 18,500
16,000
Fondation Père Sablon Montreal Canadians Children’s Foundation 16,000
Montreal B’nai Brith Food Baskets Inc 15,800
15,700
Shriners Hospitals for Children McGill University Health Centre Foundation 12,800
AMI-Quebec Action on Mental Illness 12,300
12,000
Urban Pardes Project Genesis 11,400
11,000
BMP Foundation Multiple Sclerosis Society of Canada
Quebec Division 10,800
10,000
Inner City Summer Day Camp Terry Fox Foundation 10,000
9,400
Hatzoloh Rescue Squad of Montreal Cedars Cancer Institute at the
McGill University Health Centre 9,300
Crohn’s & Colitis Foundation of Canada 6,700
Mount Sinai Hospital Foundation of Toronto 6,700
6,500
Alzheimer Society of Montreal Défi Corporatif Canderel 6,200
L.O.V.E. Leave Out Violence 6,100
Cyclo Nord Sud 6,000
5,600
Montreal Oral School for the Deaf Inc 5,500
Argyle Institute of Human Relations Société de Saint Vincent de Paul de Montréal 5,500
Leukemia & Lymphoma Society of Canada 5,500
5,400
Mount Sinai Hospital Auxiliary
Fondation C.E.D. Inc 5,000
Fondation Réhabilitation
Centre Ubald-Villeneuve
5,000
5,000
Hospital for Sick Kids Foundation Kaiser Foundation
5,000
44,300
Solomon Schechter Academy Klez Kanada 42,500
41,100
Beth Jacob Seminary Free Hebrew for Juniors 32,900
28,700
La Fondation de la Tolérance Jewish Education Program 28,200
23,400
Canadian Institute for Jewish Research Rabbinical College of Canada
23,300
Les Grands Ballets Canadiens de Montréal 22,000
The Study School Foundation 20,200
English Montreal School Board (EMSB) 20,000
OISE/UT 20,000
B’nai Brith Hillel Foundation of Montreal Inc. 16,900
Beth Jacob School 15,200
HEC Montréal 15,000
15,000
University of Western Ontario Opéra de Montréal 14,500
13,800
Montreal Symphony Orchestra Bais Yaakov Elementary School 13,200
Beth Rivkah Academy 12,700
12,600
St. George’s School of Montreal The Montreal Museum of Fine Arts 11,300
10,500
Jerusalem Foundation of Canada Inc. 10,100
Canadian Zionist Cultural Association Canadian Vocal Arts Institute –
University of Montreal 10,000
10,000
La Fondation de L’Ecole Buissonniere Inc 9,800
Summit School Foundation Torah Fax
9,200
8,500
United Talmud Torahs of Montreal Les Ballets Jazz de Montréal 7,700
Fondation de l’Université du Québec
à Montréal 6,800
Rabbinical College of Quebec 6,800
Montreal Symphony Orchestra Foundation 6,500
Loyola High School Foundation 6,500
6,000
Lakefield College School Foundation
Keren Aryeh Leib & Chana Education
and Scholarship Fund 5,000
RELIGIOUS INSTITUTIONS
CULTURE & EDUCATION
Segal Centre for Performing Arts McGill University Université de Montréal JPPS-Bialik Fondation de l’Université du
Québec à Rimouski Bronfman Jewish Education Centre Lower Canada College Selwyn House School Scholarships Governors of St. Francis Xavier University The Akiva School Canadian Society for the Weizmann
Institute of Science Concordia University Trinity College School Foundation Hebrew Academy Thomas More Institute Fondation du Festival des Films du Monde Cinémania Chaya Mushka Seminary – Ben Weider
Education Centre Fondation HEC Montréal Jewish Public Library 784,400
352,400
189,600
165,500
150,600
140,900
120,500
106,800
100,700
100,000
96,800
96,100
81,100
81,000
74,500
60,400
60,000
56,000
50,700
50,000
45,300
Va’ad Mishmeres Mitzvos 423,700
Congregation Shaar Hashomayim 210,200
Congregation Dorshei Emet /
Reconstructionist Synagogue 91,200
Congregation Shaare Zion 64,100
Montreal Community Mikvah 60,000
59,100
Montreal Torah Centre Congregation Chevra Kadisha
B’nai Jacob Beit Hazikaron 36,500
Congregation Tifereth Beth David Jerusalem 36,500
36,500
Kollel Torah Mitzion Spanish & Portuguese Synagogue 36,300
31,200
Beth Zion Congregation Temple Emanu-el Beth Sholom 27,800
27,300
Congregation Shaare Zedek Yeshivat Aish HaTorah – College of
Jewish Studies 25,900
Adath Israel Poale Zedek
Anshei Ozeroff Congregation 24,700
Montreal Community Kollel 19,600
18,300
Congregation Beth Ora Or Menachem Synagogue 16,000
15,000
Chasdei Levy Yitzcok Congregation Beth-El 13,900
12,800
Congregation Or Hahayim Yeshivat Yesodei Hatora Yeshiva Gedola Merkaz Hatorah Congregation Beth Tikvah Kupas Hachesed Meoroth First Mesifta of Canada Beth Israel Beth Aaron Congregation Jewish Experience Congregation Nahar Chalom de Hampstead Kollel Avrechim du Centre Chouva Israel Académie Taryag D’Arizal Chasdei Tovim Meoros House of Israel Congregation Noam Jewish Center Congregation Toldos Yakov Yosef Yeshiva Skver Montreal (YSM) Congregation Shomrim Laboker Kolel of Congregation Chaside
Belz Umachzike Hadasz Holy Blossom Temple Foundation Jewish Unity Partnership Inc. 12,600
12,200
12,000
11,000
10,500
9,400
8,300
8,700
8,700
8,500
8,500
8,100
7,900
7,100
6,000
5,800
5,200
5,000
5,000
ISRAEL/OVERSEAS
Canadian Friends of Mishon La’Choleh ORT Canada Israel Cancer Research Fund
Can Serve Foundation Jewish National Fund of Canada Canadian Magen David Adom for Israel
Canadian Friends of Yeshiva University Canadian Associates of Ben Gurion
University of the Negev Aid to Disabled Veterans of Israel
Beit Halochem (Canada) Hadassah-WIZO of Montreal Canadian Friends of Hebrew University New Israel Fund of Canada Canadian Friends of Bar Ilan University Canadian Friends of Shalva
Israel Association Ezras Cholim ICEJ Canada Aid & Development Na’amat Canada Canadian Friends of Jaffa Institute Enablis Foundation Canada Canadian Friends of Hartman Canadian Friends of the World Union
for Progressive Judaism Canadian Red Cross MISCELLANEOUS
Total
250,000
189,600
115,200
75,800
70,500
57,600
43,500
38,200
27,400
24,500
23,400
14,200
10,500
10,000
10,000
10,000
9,800
6,800
6,000
5,500
5,500
5,300
2,344,500
$23,014,900
ALLOCATIONS SUMMARY
Grants from undesignated funds
Grants from designated and
philanthropic funds
TOTAL ALLOCATIONS
$819,800
23,014,900
$23,834,700
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JCF Leadership Institute
Institutional Strengthening
The ChangeLeaders program, which brought lay
and professional leaders together to learn for the
first time, completed its first cycle. The response
to the program was very positive. Participants are
taking on active change agent roles in community,
as well as personally and professionally.
Launched by Federation CJA this year under the “GEN
J” umbrella and in partnership with the Foundation,
Connecting through culture
A total of almost $200,000 was granted to 10
programs in 2012. All were chosen for their
commitment to providing new and original ways
to connect culturally with the Jewish community.
Among them:
LE MOOD provides year-round opportunities for
young adults of different voices to give or attend
sessions in a variety of formats such as lectures,
hands-on workshops, text-study, film, meditation,
discussions, panels, exhibits, cooking and
performances, including music, theatre and dance.
Awesome Sauce is a three-day gathering bringing
together 50 of the most innovative, entrepreneurial,
artistic and visionary Jewish young adults
from around the world to Montreal. This group
will completely reimagine Jewish gatherings,
ceremonies, holidays, dating and spirituality through
the lens of new media.
Green Kippah Collective is a sprouting diverse
community of creative people (business and social
entrepreneurs, movers and shakers, inventors,
artists and recent graduates) interested in trans­
formative, innovative and cultural experiences. The
emphasis is on connecting Jews to their culture and
heritage by exploring our collective relationship to
agriculture, food and the environment.By creating
the first urban garden in the heart of the Montreal
Jewish community, the mission fosters opportunities
to reconnect with the processes of working the land
and growing food to feed disadvantaged members
of the community.
The Generations Fund is an endowment fund aimed
at ensuring a strong and vibrant Jewish community
in Montreal through identity-building initiatives. The
Generations Fund for Educational Excellence, the first
part of the fund to launch this year, will support middleincome families with a tuition reduction, so that they
will be better positioned to choose a Jewish day school
education for their children.
Camps
GEN J expanded its commitment to strengthen Montreal
Jewish overnight camps and capacity building by
working with lay and professional leadership. Board
development workshops centred on governance and
best practices, while intensive consultation with the
Foundation for Jewish Camps, a strategic partner, is
ongoing.
Synagogues
GEN J continued its Tools for Shuls program, which
engages professional, spiritual and lay leaders from
synagogues throughout the greater Montreal area in
data-driven growth and decision making.
shaping our future
The Shaping Our Future initiative is creating new ways to
plan and prepare for the challenges of the future through
leadership development, institutional strengthening and
cultural grants that connect communities.
Le Mood 2011
14
investment committee report
For the year ending March 31, 2012 we are
reporting a loss of 0.12% on the Jewish Community
Foundation (“JCF”) of Montreal’s pooled fund. This
is in contrast to last year’s 8.39% return and leaves
the fund with a 2-year return of 4.05%. Over a 3-year
period the return is 7.87% which is 1.5% above our
policy benchmark.
This performance is directly related to the investment
policies and strategies of the committee – primarily
to use a fund of fund investment approach, to diversify
the pool into an array of asset classes and to hedge investment strategies to mitigate risk against significant
losses. This will be further explained below.
During the last fiscal, year market action was
dominated by the financial and economic situation of
Europe and concerns over a slowdown in the Chinese
economy. Equity markets were mixed and volatile
during the period with the S&P rising 8.54%, while
the MSCI and the S&P/TSX composite fell 0.19% and
9.76% respectively.
Asset Allocation Performances
Equities
Over the long term, equity holdings are generally
expected to generate returns superior to those of less
risky assets such as bonds and cash.Within the JCF’s
equity allocation are both marketable (traded on
public exchanges and highly liquid) and non-marketable (private partnerships, not publicly traded and
less liquid) holdings. Included among the marketable
holdings are U.S., Canadian and foreign equities.
Among the non-marketable holdings are positions in
private equity and distressed debt.
This category makes up 40% of the fund and includes
traditional market equities (Canadian, US and foreign), private equity, and distressed debt.
Our Canadian equity allocation’s (10%) fund of fund
manager (“fof”), SEI, reported a 12.73% loss this year
against the benchmark -9.76% (S&P/TSX Composite).
We have moved this allocation from SEI to a Statestreet Composite Index Fund.
Our US, International, and Emerging Markets Funds,
managed by Commonfund, reported a 3.68 % loss
against a benchmark of -.19%. (30% allocation).
Subsequent to end of year, over half the international portfolio was moved to a more passive indexed
strategy.
Our Private Equity and distressed debt fofs reported a
7.73% aggregate return. These “illiquids” continue to
contribute positively to the total performance of the pool.
Real Assets
Real asset investments provide attractive return prospects, portfolio diversification, and a hedge against
unanticipated inflation. This category of investment
is typically less liquid than publicly traded securities.
JCF includes real estate and natural resources in its
allocation to real assets.
10% of our assets are placed in this asset class and
returned 11.64%
Hedge Funds
Hedge funds provide portfolio diversification, seeking
to generate high long-term real returns by exploiting
market inefficiencies. Unlike traditional marketable
securities, hedge funds have historically provided
returns largely independent of overall market moves.
30% of our portfolio is placed in hedge fund FOFs
which lost 6.64% against a benchmark of -3.42%. Our
hedge fund allocation has suffered as “stock pickers”
have lagged behind the market as a whole and market correlations have been above historical norms.
For diversification purposes, we have moved 50% of
our allocation from Commonfund to HSBC.
Fixed Income
Fixed income assets generate stable flows of income,
providing greater certainty of nominal cash flow
than other asset classes. They have the lowest historical and expected returns of the asset classes included
in the JCF’s portfolio.
20% of the pool is placed in fixed income. Over 70%
of the fund is run by State Street in a Canadian Fixed
Income Index Fund, with the balance basically invested
in Israeli Bonds which the pool has traditionally held.
The net return on fixed income was 8.02%. This return was driven by a further decline in interest rates
last year.
Currency and Currency Hedging
The returns described above are described in the
currency of the fund. As about 70% of the pool is invested in $US, currency fluctuations have an impact
on the final returns described in $CDN. The fund uses
a dynamic hedging formula with the aim of significantly reducing the foreign currency risk.
This past year the Canadian dollar appreciated
against the US greenback. The exchange rate moved
from 0.97 to 0.99 which increased the value of our US
investments by 2.7%.
However the Investment committee hedges currency
fluctuations. The hedging this year resulted in a currency loss of 1.6%. On a net basis currency increased
the overall return by 0.4%.
Conclusion
The market remains an uncertain and volatile. Interest rates are at record low levels. The Investment
Committee will maintain its policies of diversification
and hedging.
15
balance sheet
financial summary
As at March 31
2012
$
2011
$
2010
$
2009
$
2008
$
Cash Sundry receivables
Balance of sale
Investments
Investments in private Canadian companies
Capital assets
6,704,189 1,450,222
-
294,193,620
14,536,932
728,714
5,422,439
1,415,417 -
264,480,563
14,376,096
724,314
3,197,637
2,434,090
-
231,546,531 15,251,904
777,588
4,151,206 1,447,404 - 195,933,534 19,609,181 445,249 1,028,310
1,396,381
800,000
260,274,775
24,539,509
445,249
317,613,677
286,418,829
253,207,750
221,586,574
288,484,224
Grants and accounts payable
Trust funds payable 168,411
85,659,807
123,435
97,951,370 211,406
86,621,632
615,574 73,673,317 525,859
96,843,808
85,828,218
98,074,805
86,833,038
74,288,891 97,369,667
Restricted for endowment purposes
Unrestricted
206,663,565
25,121,894
164,829,861
23,514,163 144,066,891
22,307,821
129,495,546
17,802,137 167,467,910
23,646,647
231,785,459
188,344,024
166,374,712
147,297,683
191,114,557
317,613,677
286,418,829 253,207,750
221,586,574
288,484,224
ASSETS
LIABILITIES AND NET ASSETS
Liabilities
Net assets
16
statement of operations
and changes in net assets
Year ended March 31
RestrictedUnrestricted
Trust Funds
FundS
FundS
Subtotal
Payable
$
$
$
$
Total Fund
Balance
2012 Total Fund
Balance 2011
$
$
Contributions and Revenues
Endowment and
other contributions
Administration fees
Investment income (loss)
63,996,619 - 2,466,482 1,791,119
908,302 (125,639) 65,787,738
908,302 2,340,843 - - 864,198 65,787,738 908,302 3,205,041
39,632,563
865,793
20,254,695
66,463,101 2,573,782
69,036,883 864,198 69,901,081
60,753,051
8,312,419 8,312,419
10,443,706
Trust fund additions
- 66,463,101 2,573,782 69,036,883 9,176,617 78,213,500
71,196,757
23,014,940 570,880 1,985,874 819,798 83,214 891,543 23,834,738 654,094 2,877,417 -
254,208 3,687 23,834,738
908,302
2,881,104
27,425,876
865,793
2,719,173
25,571,694 1,794,555 27,366,249 257,895 27,624,144 31,010,842
19,439,484 19,439,484 6,886,865
Distributions and Expenses
Grants paid
Administration fees
Overhead and other expenses
Trust fund drawings
25,571,694 1,794,555 27,366,249 19,697,379 47,063,628
37,897,707
Change in the year Interfund transfers
40,891,407 942,297 779,227 828,504
41,670,634 1,770,801 (10,520,762) (1,770,801) 31,149,872
- 33,299,050
-
41,833,704 1,607,731 43,441,435 (12,291,563) 31,149,872
33,299,050
Net assets,
beginning of year
164,829,861 23,514,163 188,344,024 97,951,370 286,295,394
252,996,344
Net assets, end of year
206,663,565 25,121,894 231,785,459 85,659,807 317,445,266
286,295,394
Investment Performance
Growth in total assets
350 M
16.2
RETURN OF POOL BY YEAR (%)
300 M
250 M
8.4
10.2
10.8
2007
2006
200 M
150 M
-.1
100 M
2012
-21.5
2011
2010
0.8
2008
50 M
0
2012
2011
2010
2009
17
the jewish community
foundation of montreal
OFFICERS
Immediate Past President
Barry Pascal
President
Joel Segal
Vice-President
Brenda Gewurz
Secretary
1981
Barbara Novek
Treasurer
Michael Etinson
Board AND STAFF 2011-2012
Founding President
Arthur Pascal C.M. z”l
Honourary Presidents
L. Michael Blumenstein
Barry Clamen FCA
Marvin Corber C.M., FCA
Senator Yoine Goldstein
Stanley Hyman, z”l
Mildred Lande C.M. z”l
Harvey Levenson
Boris G. Levine C.M., FCA, z”l
Joel Raby
Robert Raich
Oscar Respitz Q.C.
Gordon Schwartz z”l
Robert Vineberg
Sheila Zittrer
Board of Directors
Thérèse Attias
Howard Berish FCA
Etty Bienstock
Michael Frankel CA
Peter Jacobs
Ian Karper
Armand Kessous
Kathy Lempert
Susan Levine
Philip Nadler CA
Sam Oliel
Gideon Pollack
Miriam Roland
Steven Sitcoff
Todd Sone
Irwin Tauben
Richard Vineberg FCA
Francine Wiseman
Lawrence Young
40th Anniversary Committee
Sheila Zittrer, Chair
Annette Amar
Thérèse Attias
Etty Bienstock
Brenda Gewurz
Kathy Lempert
Sam Oliel
CHAIRS OF COMMITTEES
Allocations/Visioning
Peter Jacobs, Todd Sone
Audit
Norman Daitchman FCA
B’Nai TZEDEK
Francine Wiseman
Investement
Allan Schouela
professional consultants
Philip Nadler CA
Rhonda Rudick
marketing
Brenda Gewurz
Scholarship
Allan Levitt
STAFF
Executive Director
Robert A. Kleinman FCA
Executive Vice-President
Joel King BCL, LLB
Director of Finance
Joelle Mamane CA
Director of Marketing
Marlene Gerson
Executive Director Emeritus
Emanuel Weiner
Administrative Assistants
Sharron Hébert, Bryna Hersh
Arthur Milly Boris Manny Sheila Stanley Marvin Michael Ingie Alex Marlene Henry
Harry Gordy Marjorie Barry Bobby Joel Yoine Micky Irving Aaron Harvey Sh
Victor Dodo Herby Alvin Barbara David Brenda Monty Gordon Oskar... Thérèse Ett
Todd Martin Armand Susan Sam Miriam Lawrence Ian Kathy Annette Phil Gideon
Irwin Francine Talia Lauren Alyssa Jamie Adam Matthew Victoria Katherine N
Stephen Charles Edward Donna Rhonda Rhoda Murray...
1 Cummings Square, Montreal, Québec H3W 1M6
514 735-3541 Fax 514 345-6410 www. jcfmontreal.org
16
Proud Member