Nov 12, 2013

The Foundation Reaches Milestone Golden Anniversary of Creating Lasting Legacies and Caring for Miami’s Jewish Future

“As my parents planted for me before I was born, so I plant for those that will come after me.” -Talmud

Jewish tradition teaches us to make the world a better place for future generations. With this in mind, a group of Jewish philanthropists created The Foundation of the Greater Miami Jewish Federation almost 50 years ago, to build lasting legacies for the vibrancy and continuity of Jewish life in Miami and beyond.

“It’s really remarkable, The Foundation started with a bequest of only $50,000,” Harry B. Smith, the first Foundation Chair and a past Federation Board President from 1974 to 76, said.

According to the April 1964 Federation Board of Directors meeting minutes, the initial goal of Federation’s newly established Endowment Committee, later known as The Foundation, was to raise $2 million. It has now surpassed $200 million in assets.

“We have come a long way and I am very proud The Foundation has done so well and has such a feeling of reliability within the community,” Smith said.

Through The Foundation, more than 600 individuals and families have created lasting Jewish legacies. It continues to be a trusted philanthropic partner in the community and provides individuals and families numerous avenues to realize their charitable objectives regardless of age, wealth or focus of giving. Through philanthropic funds, endowment funds, charitable trusts and more, Miami’s Jewish community has been able to thrive.

“The notion of overseeing a foundation and raising dollars that are going to be held in endowment funds to support future generations in the community is critical,” said John Bussel, the current Chair of The Foundation.

In 2008, when America’s economy collapsed, The Foundation helped Federation continue its important mission of caring for those in need.

“The Annual Federation/UJA Campaign took a downturn and needs started to explode,” Bussel said. “People were losing their jobs and the necessity for services started to rapidly increase.”

The Foundation made a series of significant special grants in order to sustain the Federation’s commitment to Miami’s Jewish community and continue to fund the vital safety net as more and more people were turning to it for assistance. These grants, which now total $3.76 million, have minimized the impact of the economic downturn on our local and overseas agencies. They were in addition to the regular allocations from The Foundation’s unrestricted and Campaign endowments and also in addition to the Campaign contributions some Federation donors were able to increase or maintain because they had established donor-advised funds and supporting organizations with The Foundation.

“Since 2008, it’s easier now for people to understand the importance of leaving a legacy gift,” Bussel said. “The Foundation is an important place to leave a lasting Jewish legacy that will sustain the community for years to come.”

Continuing its mission, The Foundation introduced Create a Jewish Legacy, a collaborative, community-wide endowment program that benefits Miami’s Jewish agencies, synagogues, day schools and The Foundation. The one-year-old program has raised more than $13 million in estimated promised legacy gifts from 178 local supporters. Currently, the program has 17 partner organizations around the community.

“It’s great to be part of history and witness the continued growth of this important establishment in the community,” Smith said.

The Foundation supports Federation’s Mission of caring for those in need, strengthening Jewish life and advancing the unity, values and shared purpose of the Jewish people. Through the acquisition, professional management and distribution of capital resources, The Foundation ensures that the programs, services and institutions that serve people in Miami, in Israel and abroad will be enhanced and sustained for the ages.

To learn more about The Foundation, click here. To learn more about Create a Jewish Legacy, click here.

For more information on how you can have a lasting impact on Miami’s Jewish community, contact us at [email protected] or 786.866.8623.