Jewish Foundation of Manitoba

123 Doncaster Street, Suite C400
Winnipeg, MB R3N 2B2
President: Anita Wortzman
CEO: Marsha Cowan

Website: www.jewishfoundation.org
Charitable Reg. #: 11923 9317 RR0001
Sector: Fundraising Organization
Public Foundation

Charity Rating

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Donor Accountability

Grade: C+

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #10

Avg. Compensation $83,320

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 1
$120k - $160k 0
$80k - $120k 1
$40k - $80k 7
< $40k 1
Information from most recent CRA Charities Directorate filings for F2014

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.

Financial Review:

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 Ratios

Fiscal year ending December 		201520142013
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 Statements

All figures in $000s 		201520142013
Donations 3,4892,3413,385
Business activities (net) 000
Investment income 8,2808,80811,258
Other income 111112
Total revenues 11,78011,16014,655
Program costs 000
Grants 566432484
Donor-designated donations 2,7682,4702,380
Administrative costs 1,2601,1791,101
Fundraising costs 83672
Other costs 221172158
Cash flow from operations 6,8826,90010,460
Funding reserves 102,22194,28787,090
Note: Ci included contributions received for endowment funds in donations, increasing donations by $3.4m in F2015, $3.3m in F2014 and $2.4m in F2013. Ci adjusted for deferred donations, affecting donations by $0 in F2015, ($996k) in F2014 and $996k in F2013. Ci did not include gain on sale of capital assets, decreasing total revenues by $5k in F2015. Ci included flow-through commitments from the Foundation’s US subsidiary, increasing both donations and donor-designated grant costs by $71k in F2015, $51k in F2014 and $21k in F2013. Flow-through commitments of ($7k) in F2015, $9k in F2014 and ($19k) in F2013 are also included in donor-designated grant costs.

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