Jewish Community Foundation of Los Angeles Reports Fiscal 2015 Financial Results
April 6, 2016
Charitable grantmaking by the Jewish Community Foundation of Los Angeles (The Foundation) and its donors reached a record $96 million in 2015, rising 35 percent from $71 million in the preceding year, it was announced today. The funding supported causes ranging from education to human services to health initiatives to civic life, said The Foundation, the largest manager of charitable assets for Los Angeles Jewish philanthropists.
The Foundation disclosed that inflows from donors to both newly established and existing charitable funds it administers rose to $138 million, increasing from $135 million in the prior year. Accounting in part for total inflows were additions from 69 newly created donor funds. At Dec. 31, 2015, total charitable assets under management stood at approximately $985 million (unaudited), reported The Foundation.
President and Chief Executive Officer Marvin I. Schotland stated: "The record level of grant activity in 2015-and the deep, broad range of causes to which our donors extend their support-speaks to their abiding commitment to philanthropy and exemplary spirit of generosity. The Foundation's own institutional grantmaking endeavors last year were equally 'deep' and 'broad,' sustaining causes that included: Los Angeles domestic- and sexual-violence intervention efforts; local Jewish social innovation; and economic self-sufficiency and pluralistic Jewish identity in Israel, among other highly meaningful initiatives."
Last year's $96 million in distributions caps a five-year period from 2011 through 2015 during which Foundation grants totaled $339 million. Over that same span, inflows to The Foundation have totaled $528 million. "As The Foundation's total charitable assets under management have risen, so too has the scale of our annual grantmaking," Schotland added. Illustrative of that point, The Foundation CEO said that 2015 grantmaking alone exceeded The Foundation's total managed charitable assets 25 years ago.
Breaking down 2015 grantmaking, Schotland said that 29 percent of total monies awarded went to support education and related initiatives, while 22 percent of all distributions were directed to institutions and causes sustaining human services. Other areas supported include: Jewish continuity (15 percent); health (12 percent); civic life (11 percent); and arts, culture and humanities (8 percent).
Schotland further noted that $35.7 million, equal to 37 percent, of all grants supported programs and institutions in the community at large, while more than $60.3 million, or 63 percent of all distributions, was directed to Jewish causes. Grants directed to initiatives in Israel last year approximated $13.9 million, equivalent to about 15 percent of total distributions, Schotland added. "We continue to emphasize that The Foundation affords its donors the ability to support a virtually limitless range of causes-Jewish and secular alike. Nothing underscores this more than 2015 grantmaking, during which more than one-third of all distributions were awarded to institutions and initiatives in the broader community."
About The Foundation
Established in 1954, the Jewish Community Foundation of Los Angeles manages charitable assets of approximately $985 million (as of 12/31/15, unaudited) entrusted to it by over 1,200 families and ranks among the 10 largest Los Angeles foundations. The Foundation partners with donors to shape meaningful philanthropic strategies, magnify the impact of giving, and build enduring charitable legacies. Over the past 25 years, The Foundation has distributed more than $1 billion in grants to thousands of nonprofits across a diverse spectrum. www.jewishfoundationla.org