Jewish Community Foundation of Montreal
Montreal, QC H3W 1M6
President: Brenda Gewurz
Executive Director: Kathy Assayag
Charitable Reg. #: 11897 4179 RR0001
Social Results Reporting
Grade: CThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Program Cost Coverage
Full-time staff #6
Avg. Compensation $119,024
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||1|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||1|
About Jewish Community Foundation of Montreal:
Founded in 1971, the Jewish Community Foundation of Montreal (JCF Montreal) began in recognition of the need for the Jewish community to have a contingency fund in case of emergencies. JCF Montreal began building an endowment fund, the investment interest on which would support innovative charity programs. Like all community funds, JCF Montreal provides a cost-efficient way for donors to establish a philanthropic foundation. JCF Montreal's primary activity is financially managing the funds endowed by donors. Today JCF manages $366.7m of which 91% are donor endowed or special trust funds, JCF Monteal has its own reserve funds of $30.6m. JCF Montreal pays out 5% of the earned investment income and interest. In F2014 JCF Montreal's donors allocated $50.3m in grants to more than 500 charities. In addition, JFC Montreal invests and manages special trust funds for seniors and parents of children with mental illness.
As a community foundation, JCF reports on its investment returns. JCF Montreal's funds gained 11.8% in F2014 compared with F2013 returns of 8.5% bringing the 3 year annualized return to 6.7%. JCF Montreal reports that the funds performance is directly related to the investment policies and strategies of its committee, its overweight position in equities (77%) and good selection of hedge fund managers. As a financial manager, there is no reporting of charitable results or the impact of donor grants.
Charity Intelligence's financial ratios do not fairly reflect community foundations's structure and operations. Administrative costs are better reviewed as a percent of investment assets and grants. JCF Montreal has administrative costs of $3.9m that are investment management fees ($2.9m to manage $342.7 million - 0.9% of assets) and its own management charge of $1.0m to administer grants of $50.3m - 2.0%). JCF Montreal holds $335.8m in donor-endowed funds and special trusts. It holds $30.6m in unrestricted funds.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||9.8%||6.4%||5.1%|
|Program cost coverage (%)||728.4%||1,017.2%||775.4%|
Summary Financial StatementsAll figures in $000s
|Goods in kind||0||0||1,800|
|Fees for service||0||0||908|
|Cash flow from operations||21,027||26,257||32,428|