CU Jewish Endowment Foundation
ANNUAL REPORT 2017-18
Arthur Siegel and Barry Weiner, co-chairs
A subsidiary of CU Jewish Federation, the CU Jewish Endowment Foundation is dedicated to enhancing and preserving the quality of Jewish life in our community by establishing and maintaining a secure financial base for the wide range of programs and services designated by its individual funds. So as to secure long-term support for Jewish organizations and individuals in the Champaign-Urbana area, CUJEF was established to receive, hold, invest, and manage contributions and to utilize the earnings accordingly. It acts semi-independently to manage and administer endowments and to provide all members of our community with the means to arrange for long-term support of Jewish programs and institutions, either through donations to an existing endowment or creation of a tailored one.
The majority of CUJEF investments are in a well-diversified pool of low-expense stock and bond index funds. Earnings are allocated monthly to each endowment in proportion to its share of total funds managed. All funds are audited annually by an independent certified accounting firm.
CUJEF disperses funds through quarterly reviews of proposals submitted to its Board. Board members are: Ben Fox, Hagit Itzkowitz, Paula Kaufman, Ira Lebenson, L. Lee Melhado, Julia Robinson, Randy Rosenbaum, Alexander Scheeline, Arthur Siegel, Maury Topolosky, and Barry Weiner. Linda Bauer, and Robert Ore are ex-officio members of the board.
Thanks go to the many people through whose foresight and generosity our community has been able to meet countless needs that would otherwise go unfunded. Thanks also go to Financial Officer Djavid Novrouzov, whose financial acumen and hard work ensures the integrity and well-being of the funds under CUJEF’s responsibility.
At the end of FY18, funds donated to CUJEF totaled $2,505,389 with a market value of $3,445,372. The following disbursements totaling $112,948.99, were made throughout the year:
In support of programming for specific purposes:
Sustaining and developing a vibrant Jewish community depends on visionary investments by its members. If you are interested in starting a fund or have questions about CUJEF, please contact Art Siegel (firstname.lastname@example.org) or the CUJF office (email@example.com).