Organizational Committees Update and Strategies for Growth
Meetings held by strategic, staff talent management, board talent management, infrastructure, and communications/marketing committees to review processes, conduct SWOT analysis, create surveys, recommend office space, and plan community surveys. Strategies discussed for increasing Donor Advised Funds include hosting parlor meetings, engaging professional advisors, promoting as family endeavor, and offering a user-friendly process with video presentations.
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Strategic Plan Committee meeting JANUARY 12, 2023
Staff Talent Management Committee met with entire staff in December to review process for information gathering. Staff SWOTs analysis conducted December 2022 Individual staff interviews in process to be completed by Feb.20, 2023 Committee: Board: Josh Waldorf , Miki Krakauer, Stephanie Koren Staff: Linda Meisel, Amy Zacks, Kim Marks
Board Talent management Committee met in December 2022 and discussed board survey Board member survey created to be distributed mid January 25, 2023 Committee: Board: Michael Feldstein, Wally Yosafat, Steve Lieberman Staff: Linda Meisel
Infrastructure: Office Space Office Space committee met in December 2022 There was general agreement that the committee would recommend that JCFGM should have physical office space with hybrid work model Board: Howard Cohen, Jim Schragger Staff: Linda Meisel
Communications/Marketing/Branding Community Survey First draft circulated Will be sent to entire CRM database Key Informant Survey First draft circulated Key informants identified Marketing/Communications Firms Recommendations collected Initial contacts made Committee: Board: Susan Falcon, Brenda Zlatin Staff: Kim Marks, Linda Meisel, Amy Zacks
Building Assets: Donor Advised Funds Meeting on January 4, 2023 Strategies for Increasing # of DAFs: 1. Parlor meetings hosted in someone s home with 3-4 prospects and presentation by staff member. Target Prospects should be people who are already giving 5k/year in charitable donations. 2. Need more info in the community about JCFGM 3. Professional advisors getting accountants (as well as financial planners and estate planning attorneys) to recommend JCFGM among other financial institutions. Begin the process of identifying local accountants and estate planning professionals for informational meetings. 4. Promote DAFs as family endeavor and involve adult children/grandchildren 5. Make process user friendly with video/presentation showing easy 1-2-3 step process for recommending grants and using fund holder portal Con t. on next slide
Building Assets: Donor Advised Funds cont. 6. When there s available money in the budget, have the foundation make a matching gift to the top ten grant recipients in a given year. This would encourage organizations (in particular local Jewish organizations) to promote giving through DAFs at JCFGM within their own constituencies. 7. Promote opening DAFs at the onset of one s retirement to enable charitable giving when there s no longer annual income. Also, to encourage people to consider DAFs during a windfall event (which often occurs at retirement). 8. Honor loved ones and name a DAF for a family member. Encourage tribute gifts to that fund upon their passing. 9. Tell stories, especially ones that pull at the heart strings. Highlight second generation advisors who keep their parents names preserved in the community. 10. Use social media (IN: Instagram, TikTok, YouTube. OUT: Facebook, Twitter) to present info in fun, edgy way. Keep LinkedIn short and professional. 11. Promote using RMDs (after paying tax on the income) to make contributions to DAFs 12. Promote company matching gifts Board: Michael Feldstein, Oliver Pimley, Jill Schwartz-Chevlin, Marc Wisotsky Staff: Linda Meisel , Amy Zacks
Building Assets: Unrestricted Funds of the Foundation Meeting on January 11, 2023 Foundation Funds: Approx. $340,000 in current unrestricted assets (in 5 Foundation Funds) Recommendation: Blend the 5 Foundation Funds into 1 Unrestricted Assets Fund DAF Succession: Currently 4 DAFs (that we know about) are being left to the Foundation, totaling $140,000 in assets today L&L Promises: 44 current Promises to Foundation, 7 already received from deceased and living donors. Need to assess potential income from future realized Promises. Recommendation: target current DAF holders for new Promises Life Insurance: 1 current policy with JCFGM as beneficiary, receiving $400,000 Restricted Funds: Assess Restricted Funds that are affiliated with a living individual and consider pursuing for L&L Promise Recommendation: combine permanently and temporarily restricted funds (per current accounting field standards) to make it cleaner to move assets to unrestricted foundation funds, when appropriate Other: Board of Trustees to continue discussing future distributions from TJCCA and sale of Ewing property Board: Joyce Kalstein, Scott Schaefer Staff: Amy Zacks
Life & Legacy Meeting on January 11, 2023 Realized Promises 25 Realized Promises totaling $1,444,643 have been deposited into funds at JCFGM. 14 came from deceased donors. 9 were outright gifts from living donors. Unrealized Promises of the 39 deceased legacy donors in the community, 25 did not ultimately make a gift that was deposited into JCFGM fund. Why? In some cases, the afterlife gift was designated for a special purpose. In some cases, the partner organization chose to keep the money for another purpose. In some cases the promise pre dated the L & L program, In some cases, the arrangement is second to die which means gift will be received after the second spouse passes away. How to encourage more Promises reaching funds at JCFGM? 1. Tell more success stories (Dick Kohn, Harold Borkan, etc.) 2. Draft 10-year Life & Legacy report This is where we are This is where we need to go 3. Plan 10-year L&L Celebration (either May 18 or in fall at 60thAnniversary event) 4. Have partners assess $ received under auspices of Life & Legacy 5. Follow-up with current donors re: formalization, use revised Promise form (possibly showing fund names), share suggested legal language 6. Reinforce national statistics: (example) By 2030, your organization should receive 20% of its income from a long-term growth fund Board: Scott Schaefer, Tiffany Willner Staff: Amy Zacks
Building Assets: Custodial Funds What is the value proposition for the organizations to use JCFGM as the vehicle for long term funds. Given the hesitancy of congregational investment committees to take risks, should we be offering more than one investment option at Vanguard is that possible, does it cost additional monies? How does the JCFGM investment committee think of this alternative? What is the value of growing the foundation with both Jewish and other funds and could we create a multi prong approach that allows both to happen but under different titles Case study: Can we develop an investment case study of an institution and use it as a model for other organizations including measures of success How do we integrate institutional giving in the long term strategy of building assets what is a dollar goal. Other Jewish communities/charitable groups- How can we craft an appeal to that audience and where do we find them.
Surveys Community Survey to learn community perception regarding JCFGM brand recognition Survey for other Foundations to learn best practices Key informant interviews- to learn from key community leaders Identified Key informants: Jill Jaclin, Doug Zeltt, Jeff Perlman, Conrad Druker, Mark Janofsky, Corey Safran, Jesse Treu, Ben Genek, Ellen Teller, Ben Sharlin, Jill Lavitsky, Eric Lavitsky, Timeline: Survey to community: February 6 Survey to other Foundations Feb/March Key informant interviews Feb/March 2 people at each interview. Strategic plan committee members should email Linda who they are willing to interview. Board: Susan Falcon Staff: Linda Meisel with input from all the committees
