Jewish Foundation of Manitoba
Winnipeg, MB R3N 2B2
President: Anita Wortzman
CEO: Marsha Cowan
Charitable Reg. #: 11923 9317 RR0001
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to The Cause
Full-time staff #10
Avg. Compensation $83,320
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||1|
|$120k - $160k||0|
|$80k - $120k||1|
|$40k - $80k||7|
About Jewish Foundation of Manitoba:
Founded in 1964, the Jewish Foundation of Manitoba (JFM) collects capital gifts from Manitoban philanthropists and keeps the amount in perpetuity – as of F2015, JFM holds an endowment fund of over 100 million dollars. The Foundation gives out the interest income from these funds to the Manitoba community through grants and scholarships. JFM offers ten fund types that donors can open depending on where they want their money to go. The Foundation supports Manitobans with its grants and awards, with a special focus on the Jewish community and Jewish-oriented charities.
The Jewish Foundation of Manitoba divides its granting activities into two classes: donor-designated distributions and undesignated distributions. Donor-designated distributions made up 83% of JFM’s granting activities in F2015 and represent money granted to Manitoba-based charities or awarded to individuals based on the donor’s wishes.
Undesignated distributions made up 17% of the Foundation’s granting activities in F2015. These distributions include grants to both Jewish-focused and general Manitoba-registered charities, including grants to Manitoba-registered charities whose services directly help women.
The Foundation also reports flow-through distribution activities, which are for donors who wish to support a specific charity. JFM establishes an endowment fund in the donor’s name with a portion of the capital amount and the remainder goes to the specified charity.
The Jewish Foundation of Manitoba is a Big-cap charity with total donations of $3.5m in F2015. Administrative costs are 36% of revenues and fundraising costs are 2% of donations, which falls just within Ci’s reasonable range for overhead spending. Of the Foundation’s $102.2m in investments in F2015, 63% are held in equities. The Foundation’s total return on investment was 9% in F2015 and 10% in F2014.
The Foundation holds funding reserves of $102.2m, which cover annual granting activities 181 times. Assuming a 5% annual return on the Foundation’s endowment funds of $92.5m, annual granting activities can be covered indefinitely.
This charity report is an update that is currently being reviewed by the Jewish Foundation of Manitoba. Changes and edits may be forthcoming.
Updated on June 24, 2016 by Katie Khodawandi.
Financial RatiosFiscal year ending December
|Administrative costs as % of revenues||36.0%||50.1%||32.4%|
|Fundraising costs as % of donations||2.4%||0.3%||2.1%|
|Program cost coverage (%)||18,058.2%||21,817.1%||17,983.4%|
Summary Financial StatementsAll figures in $000s
|Business activities (net)||0||0||0|
|Cash flow from operations||6,882||6,900||10,460|