Jewish Communal Fund (JCF) Company Profile

Background

Established in 1972, the Jewish Communal Fund (JCF) is a leading donor-advised fund (DAF) in the United States, dedicated to facilitating and promoting charitable giving within the Jewish community and beyond. JCF's mission is to enable individuals and families to achieve their philanthropic goals efficiently and confidentially, supporting both sectarian and nonsectarian organizations. Over the past five decades, JCF has grown from managing $4 million in assets for fewer than 200 donors to overseeing nearly $3 billion in charitable assets for over 4,800 donor-advised funds. This growth underscores JCF's significant role in the philanthropic landscape, particularly within the Jewish community.

Key Strategic Focus

JCF's strategic focus centers on simplifying and enhancing the philanthropic experience for its fundholders. By offering donor-advised funds, JCF provides a flexible and efficient vehicle for charitable giving, allowing donors to recommend grants to a wide array of organizations. The fund emphasizes support for Jewish charities and causes, with substantial contributions directed toward Israeli organizations and Jewish community services. Additionally, JCF maintains a commitment to supporting the broader community, including education, health, and human services sectors. The organization's adaptability is evident in its response to emergent needs, such as the increased support for Israeli charities following the October 7th tragedy in Israel.

Financials and Funding

In the fiscal year ending June 2023, JCF reported total revenue of approximately $1.04 billion, with expenses totaling around $924 million. The organization's net assets stood at approximately $2.74 billion. A significant portion of JCF's revenue comes from contributions, gifts, and grants, amounting to over $934 million. Investment income contributed approximately $40.5 million, while gains from the sale of assets added about $65.1 million. Notably, JCF's fundholders granted more than $1 billion to over 11,000 charitable organizations in fiscal year 2024, marking a substantial increase in charitable giving.

Pipeline Development

As a donor-advised fund, JCF does not engage in product development or clinical trials. Instead, its focus is on expanding and enhancing its philanthropic services. This includes increasing the number of donor-advised funds under management, diversifying investment options for fundholders, and strengthening partnerships with charitable organizations to maximize the impact of grants. JCF continually seeks to innovate its service offerings to meet the evolving needs of its donors and the communities they support.

Technological Platform and Innovation

JCF leverages advanced financial management systems to provide secure and efficient management of donor-advised funds. The organization offers mission-aligned investment options, such as the Market Vectors Israel ETF, allowing fundholders to invest in vehicles that reflect their values. By integrating technology into its operations, JCF ensures transparency, ease of use, and responsiveness to donor preferences, thereby enhancing the overall philanthropic experience.

Leadership Team

JCF's leadership comprises experienced professionals dedicated to advancing the organization's mission:

Rachel Schnoll, Executive Vice President and CEO

Appointed CEO in 2022, Rachel brings extensive experience in financial services and philanthropy, guiding JCF's strategic direction and operations.

Ashley Clemente, Chief Technology Officer

Oversees the technological infrastructure, ensuring secure and efficient management of donor-advised funds.

Ellen Smith Israelson, Vice President, Marketing & Business Development

Leads initiatives to expand JCF's reach and enhance services for fundholders.

Andrea Markezin-Press, President

Provides leadership and oversight, ensuring alignment with JCF's mission and strategic goals.

These leaders, along with the Board of Trustees, play pivotal roles in steering JCF's growth and impact.

Leadership Changes

In 2022, Rachel Schnoll succeeded Susan F. Dickman as Executive Vice President and CEO. Susan F. Dickman served as CEO until June 30, 2022, and was instrumental in JCF's growth and success during her tenure. Additionally, Beth Wohlgelernter, who served as Senior Vice President and COO, concluded her role on September 30, 2022. These leadership transitions mark a new chapter in JCF's ongoing commitment to facilitating impactful philanthropy.

Competitor Profile

Market Insights and Dynamics

The donor-advised fund sector has experienced significant growth, with assets under management surpassing $140 billion in recent years. This growth reflects increasing donor interest in flexible and tax-efficient charitable giving vehicles. JCF's position as the largest Jewish donor-advised fund underscores its prominence in this expanding market.

Competitor Analysis

Key competitors in the donor-advised fund space include:

Fidelity Charitable: One of the largest DAF sponsors, offering a broad range of investment options and serving a diverse donor base.

Schwab Charitable: Provides donor-advised funds with a focus on investment flexibility and donor education.

Vanguard Charitable: Emphasizes low-cost investment options and streamlined giving processes.

While these organizations serve a broad audience, JCF differentiates itself by focusing on the Jewish community, offering mission-aligned investment options, and maintaining deep connections with Jewish charities and causes.

Strategic Collaborations and Partnerships

JCF maintains a longstanding partnership with UJA-Federation of New York, contributing over $270 million to support various programs and initiatives. Additionally, JCF collaborates with numerous Jewish and non-Jewish organizations to facilitate effective grant-making and address community needs. These partnerships enhance JCF's ability to serve its fundholders and the broader community effectively.

Operational Insights

JCF's strategic considerations include:

Market Position: As the largest Jewish donor-advised fund, JCF leverages its deep understanding of the Jewish philanthropic landscape to offer tailored services.

Competitive Advantages: JCF's focus on the Jewish community, mission-aligned investment options, and longstanding partnerships with key organizations provide a unique value proposition.

Distinct Differentiators: The organization's commitment to confidentiality, flexibility, and responsiveness to donor needs sets it apart in the donor-advised fund market.

Strategic Opportunities and Future Directions

Looking ahead, JCF aims to:

Expand Donor Base: Attract a broader range of donors by highlighting the benefits of donor-advised funds and JCF's unique offerings.

Enhance Technological Capabilities: Invest in technology to streamline operations, improve donor experience, and ensure secure fund management.

Strengthen Community Impact: Increase grant-making to address emerging needs within the Jewish community and beyond, reinforcing JCF's role as a catalyst for positive change.

By building on its current strengths and exploring new opportunities, JCF is well-positioned to continue its mission of facilitating impactful philanthropy.