Jewish Communal Fund offers you the opportunity to invest your charitable assets, potentially earning tax-free growth that translates into additional funds for charitable purposes. You may choose from the following two options:
- Option A: Pre-Set Investment Portfolios
- Option B: Customized Investment Allocation
Donors with fund balances over $500,000 may choose from a selection of approved additional investment options. Donors with fund balances over $1 million may also recommend that the assets be invested with, or managed by, managers that currently are not part of the JCF’s investment program.
See below for more information on JCF’s investment program, or contact Igor Musayev at 646-843-6889 or email firstname.lastname@example.org.
You may choose one option from the pre-set Investment Portfolios listed below:
- Money Market Portfolio
- Conservative Portfolio ($25,000 min)
- Moderate Portfolio ($50,000 min)
- Aggressive Portfolio ($50,000 min)
To view the underlying investments within each of the Pre-Set Portfolios, visit the Pre-Set Investments Performance Comparison page.
Primary Investment, Pooled
Pooled Income Funds
Pooled Stock Funds
Dodge & Cox – International Stock
Neuberger Berman – Genesis – Small Cap Blend
Neuberger Berman – Mid-Cap Intrinsic Value
Neuberger Berman – Socially Responsive – Lg Cap Blend
PRIMECAP – Odyssey Growth Fund
Sound Shore – Large Cap Value
Vanguard – Institutional Index
Vanguard – Mid-Cap Index
Vanguard Small-Cap Index
Vanguard – Total International Stock Index
Pooled Exchange Traded Fund
Privately Managed Investment Accounts
Eagle Capital Management, LLC (account established 6/1/2004)
GAMCO Asset Management Co. (account established 6/30/1990)
Horizon Asset Management (account established 12/21/2005)
Neuberger Berman, LLC (account established 12/31/2000)
- At least $5,000 of any donor-advised fund must be invested in the JCF Short Duration Bond Fund or the Treasury Trust Fund, both of which are managed by BlackRock. Donors should indicate their preferred default fund on the Fund Investment Recommendation Form.
- Proceeds in excess of $5,000 may be invested in any of the JCF investment options with a minimum of $2,500 per investment option.
- When additional contributions are made to a fund, a donor may recommend how the proceeds are invested, provided that at least $5,000 of the fund assets is in the JCF Short Duration Bond Fund or the Treasury Trust. If a written investment allocation is not received within 10 days of the date of gift, or an asset allocation is not on file, the contribution will automatically be invested in the JCF Short Duration Bond Fund or the Treasury Trust.
- Donors may recommend an asset allocation for their fund, and JCF will automatically rebalance the fund on a monthly basis to maintain that allocation unless a donor chooses not to have the fund rebalanced.
- A donor may recommend the reallocation of the fund balance four times per calendar year
- In addition to the existing investment alternatives, JCF offers donors the opportunity to invest in one or more privately managed portfolios with a minimum of $50,000 per manager.
- Donors with fund balances of over $1,000,000 may recommend a manager to JCF. The JCF Investment Committee together with an independent Investment Advisor will review the manager’s material and determine whether or not to accept the manager as part of the JCF program. Once an alternative investment is available, donors with balances of at least $500,000 may recommend an investment.* If an alternative investment is subject to a lock-up period of a year or more, the donor must maintain at least 5% of the total donor-advised fund balance in liquid investments. Donors who elect to invest in an alternative investment must sign an acknowledgement letter. (Please call the JCF office at 212.752.8277 to request a list of the available managers and request a copy of the acknowledgment letter.)
- Minimum investment requirements are set by each manager and may exceed $500,000.
Updated July 2013
Donors with a fund balance of over $500,000 may choose from a selection of approved additional investments. Donors with fund balances over $1 million may also recommend that the assets be invested with, or managed by, managers that currently are not part of the Jewish Communal Fund’s investment program, or may request to manage the assets in their own donor advised fund.*
These recommendations will be considered on a case-by-case basis and subject to particular criteria that include, but are not limited to, the type of investment program and strategy, stability of management, long-term performance, volatility of results, regulatory compliance, reputation, liquidity, fees and expenses, and transparency of transactions. JCF will refer the request to our investment consultants for their review. They, in turn, will report their findings to the JCF Investment Committee. The decision as to whether to approve a particular investment manager is within the sole and absolute discretion of the Investment Committee. Click here for the list of full requirements.
*The Investment Committee has approved several bond managers, stock managers, hedge fund managers, and fund of funds managers. For additional information, please call or email Susan Dickman or Saul Wadowski.
JCF offers a wide range of carefully selected, best-in-class investment options. Fund holders have the flexibility of recommending investment allocations up to four times annually.
Fund holders who maintain minimum balances of $1 million may choose from a selection of alternative investments or request a private fund manager.
A Fund Investment Recommendation form must be submitted to request an asset allocation for your fund. You may request a reallocation up to four times per calendar year. If your recommendation is accepted, the Jewish Communal Fund will implement such change as soon as practicable after receipt of your form.
When you complete the Fund Investment Recommendation form, you should indicate whether you wish all future contributions to be invested in accordance with a fixed asset allocation (and rebalanced monthly) or whether you would like to submit an investment recommendation for each contribution that you make to your fund. If you do not request an allocation for your contribution, and have not elected monthly rebalancing, your contribution will be invested in the primary investment on record.
Fund Investment Recommendation: Required to recommend an asset allocation for your fund
Acknowledgement for Privately Managed Accounts: Required if you choose a privately managed portfolio as an investment option
The management fee associated with each investment option varies. Please refer to the Annual Expense Ratio column of our investment performance chart (updated monthly) for the fee associated with each investment option. (Performance figures are net of asset management fees.)
There are no transaction costs charged to your fund when assets are liquidated or reallocated.
1. What is the objective of the investment program?
The Jewish Communal Fund (JCF) is committed to providing a comprehensive investment platform with high-quality attractive options in multiple asset classes. The spectrum of investment options provides donors, who have differing time and risk parameters, the opportunity to utilize the same platform.
2. How was the current menu of investment options chosen?
JCF’s Investment Committee retained the advisory services of Colonial Consulting, LLC. Colonial performed an investment manager analysis in order to create a recommended list of investment options for JCF. This was accomplished by analyzing asset classes, various performance and consistency measures, and reviewing that data versus representative benchmarks and peer groups. Other criteria included the review of fees, manager tenure, and corporate governance.
3. How often do the investment options change?
Our investment consultant and the JCF Investment Committee monitor and review the managers on a regular basis. This review includes the performance of the funds over a long-term business cycle. It is not expected that managers will change frequently.
4. What should I consider when making my investment choices?
Donors should primarily consider their grant making horizon and risk tolerance when making investment decisions.
5. What are the fees associated with the investment options?
The management fee associated with each investment option varies. Please refer to the Annual Expense Ratio column of our investment performance chart for the fee associated with each investment option. There are no transaction costs charged to your fund when assets are liquidated or reallocated.
6. Does each option have a minimum investment requirement?
There are minimum dollar amounts required for each investment option. Please refer to the Fund Investment Recommendation form.
7. What is required to change the investment allocation in my fund?
You must provide us with a completed Fund Investment Recommendation form. You may also fax the form to us at 212-319-6963.
8. How many options may I choose?
JCF requires that $5,000 of your fund balance be invested in the BlackRock Treasury Trust fund and/or JCF Short Duration Bond Fund. As long as minimum investment requirements are met, there are no other restrictions regarding the number of investments an individual may select.
9. Why is there a $5,000 minimum requirement for the primary investment?
Grants and monthly fees are paid from the primary investment account(s). If there is an insufficient amount in the account(s) to cover grants and fees, investments will be sold on a pro rata basis and the primary investment account(s) will be replenished up to $5,000.
10. How often can I change my asset allocation?
You may request a reallocation of your entire fund balance at any time, up to four times per calendar year.
11. Is my fund charged transaction fees for changing my asset allocation?
There are no transaction costs charged to your fund when assets are liquidated or reallocated.