22nd of July 2014 / Serving Oregon & Southwest Washington since 1959

Beth Israel consolidates endowed funds at foundation


article created on: 2011-12-01T00:00:00

The Oregon Jewish Community Foundation with Congregation Beth Israel announce that the temple has consolidated its endowed funds with the foundation. CBI is Portland’s oldest congregation and the leading voice of Reform Judaism in Oregon. It was the first Jewish congregation established west of the Rockies and north of California.

“This is a terrific expression of confidence in our foundation,” said OJCF President Eric Rosenfeld. “Many thanks are due to Congregation Beth Israel’s Board of Trustees and professional staff for their tremendous support for OJCF’s mission to build a strong Jewish community, now and for the future.”

“Having our funds invested with the Jewish community foundation is an important step in being a community partner. It’s a win-win decision. Beth Israel will have a voice in foundation business with a seat on the board of trustees, and benefit from top-notch investment oversight,” commented CBI Treasurer Miles Newmark. “We also look forward to having our development director Jen Feldman working closely with foundation director Julie Diamond on the development of legacy giving for Temple.”

OJCF welcomes Jeff Wolfstone as the new board appointee. Wolfstone is a current trustee of the CBI Board, serves on the development committee and is a past president of CBI.

OJCF’s investment committee includes investment advisors, CPAs, estate planning attorneys and wealth managers. The committee monitors investments closely with banking partner First Republic, and makes all decisions on asset allocations and manager selection. First Republic, which serves many nonprofit endowment organizations, is an advisor and custodian of the foundation investments.

Former CBI Board of Trustee member and current budget committee member Richard Glassman, has joined the OJCF investment committee and will add his expertise to the ongoing analysis of foundation investments. Glassman also serves as co-chair of CBI’s investment committee.

“We are thrilled to again be partnering with OJCF. CBI is has a long history of community involvement and acknowledges the importance of having all Jewish organizations working closely together to have the greatest impact,” said CBI’s Executive Director Sydney Baer. “We have great respect for the work of OJCF and their other partners. We look forward to being a part of their board and Investment Committee.”

“The board and committee members of Beth Israel took great care in making this decision. We at the foundation are honored to have their trust and confidence as both a financial partner and a resource for the development of philanthropic giving among synagogue membership,” said Julie Diamond, foundation executive director. “We share the same goal of making sure we have a secure and vibrant Jewish experience available through Congregation Beth Israel for people at every stage of life.”

In addition to is exceptional investment services, OJCF is the center for planned giving and endowment development in our Jewish community. The foundation currently has $43,339,822 in assets under management. This includes funds invested at First Republic, segregated funds and real property. The foundation has an annual independent audit, most recently provided Hoffman Stewart and Schmidt, P.C.

OJCF manages investments for a total of 25 Jewish organizations.

Call Julie Diamond, executive director, at 503-248-9328 or visit www.ojcf.org or the planned giving website, www.ojcfgift.org to learn more about options for a planned gift or endowment.

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