Posted: Friday, May 5, 2017 – 7:52 PM
By John L. Seitz
The Jewish Community Foundation of Los Angeles (www.jewishfoundationla.org), the largest manager of charitable assets and planned-giving solutions for local Jewish philanthropists, reported financial results for fiscal year ended Dec. 31, 2016, during which it awarded grants totaling approximately $81 million to nonprofit initiatives and organizations locally, nationally and in Israel.
Approximately $43 million or 53 percent of total 2016 grants were awarded to causes in the L.A. area, with the balance going to programs across the U.S. and throughout the world, principally Israel. By field of interest, some $22.5 million, or 28 percent of total awarded grants, was directed to programs supporting human services, while distributions of $20.6 million, equal to 25 percent, went to education initiatives.
At fiscal-year end, the foundation’s total charitable assets under management stood at $1.1 billion, reflecting the continued strong inflow of contributions from donors.
President/CEO Marvin I. Schotland stated: “The foundation’s accomplishments last year reflect the deep, abiding generosity of our donors who make us doubly blessed – both with their compassion to better the world as well as the resources to do so. Putting these impressive numbers into context, just over half of 2016 grant monies were deployed into programs locally – the very embodiment of a community foundation.
“The growth of our asset base beyond the $1 billion threshold is significant. As our assets grow, so too does the availability of monies that can in part be returned to the community in the form of our own grantmaking.”
Last year’s $81 million in grant awards breaks down by field of interest as follows: human services – $22.5 million; education – $20.6 million; Jewish continuity – $14.1 million; health – $9.7 million; arts, culture and humanities – $6.3 million; civic life – $4.8 million; international or foreign affairs – $2.4 million; environment and animal welfare – $700,000; and science – $400,000.