Jewish Community Foundation of Montreal

1 Cummings Square
Montreal, QC H3W 1M6
President: Brenda Gewurz
Executive Director: Kathy Assayag

Charitable Reg. #: 11897 4179 RR0001
Sector: Fundraising Organization
Public Foundation

Social Results Reporting

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 ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #6

Avg. Compensation $119,024

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 1
< $40k 3
Information from most recent CRA Charities Directorate filings for F2012

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.

Financial Review:

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 Ratios

Fiscal 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 Statements

All figures in $000s
Donations 39,79338,71872,300
Goods in kind 001,800
Fees for service 00908
Investment income 35,41823,7014,483
Total revenues 75,21262,41979,492
Grants 50,29633,68940,868
Donor-designated donations 002,406
Administrative costs 3,8902,4743,789
Fundraising costs 000
Cash flow from operations 21,02726,25732,428
Funding reserves 399,361342,665316,885
Note: JCF Montreal reports its management and administrative charge on grants as a fees for service revenue. This administrative charge was $1.032m in F2014 (2.1% of grants), $0.953m in F2013 (2.8% of grants) and $0.908m in F2012 (2.1% of grants). Charity Intelligence has removed this management fee as a revenue.

Comments added by the Charity:

No comments have been added by charity
Go to top