On Wednesday, the Federation’s Investment Committee held its quarterly meeting to review our progress and our investment strategy for our Foundation. The members of this committee clearly understand that they are the stewards of major community resources with approximately $140 Million in assets including not only Federation owned funds, but also funds for synagogues and Jewish communal agencies. They spent a substantial portion of the meeting discussing the current turmoil in the markets, including presentations made by our professional advisors from Bilkey Katz, and by one of our Investment Committee members, Stuart Hoffman, Chief Economist for PNC. All of this got me thinking about where can one get a good return on his/her money?
I would suggest that our Federation is the perfect place. We leverage the dollars donated. While our campaign raised $12.8 Million for 2011, we distributed over $20 Million in the community. A pretty good annual return! We diversify the investments in the community. Our campaign supports everything from formal and informal Jewish education to feeding the hungry and caring for the elderly. We have funds working in the international arena as well, with support to Jewish communities in Israel and around the world. Emerging markets like Russia are key to our portfolio with a large, needy Jewish population there. You can come and see some of our strategic investments in Israel by joining us in the Summer of 2012 on our Centennial Mega Mission. In fact, you can see our investments every day right here in Pittsburgh in each of our ten beneficiary agencies. Unlike other mutual fund investments, ours can be visible and tangible. They are not just something appearing in a prospectus. Our “fund managers” are some of the best in our industry. Hundreds of volunteers along with our sophisticated planning staff work tirelessly to insure that dollars go where they are intended and that we achieve the outcomes we have established.
I’ve never been more bullish on our work.
Shabbat Shalom.
P.S. I mentioned it above, but would like to point out that our 2011 Campaign has officially closed at $12.8 Million. This represents a quarter million dollar increase over last year, and the largest campaign achievement in our community’s history!!
Jeff Finkelstein, President/CEO
I would suggest that our Federation is the perfect place. We leverage the dollars donated. While our campaign raised $12.8 Million for 2011, we distributed over $20 Million in the community. A pretty good annual return! We diversify the investments in the community. Our campaign supports everything from formal and informal Jewish education to feeding the hungry and caring for the elderly. We have funds working in the international arena as well, with support to Jewish communities in Israel and around the world. Emerging markets like Russia are key to our portfolio with a large, needy Jewish population there. You can come and see some of our strategic investments in Israel by joining us in the Summer of 2012 on our Centennial Mega Mission. In fact, you can see our investments every day right here in Pittsburgh in each of our ten beneficiary agencies. Unlike other mutual fund investments, ours can be visible and tangible. They are not just something appearing in a prospectus. Our “fund managers” are some of the best in our industry. Hundreds of volunteers along with our sophisticated planning staff work tirelessly to insure that dollars go where they are intended and that we achieve the outcomes we have established.
I’ve never been more bullish on our work.
Shabbat Shalom.
P.S. I mentioned it above, but would like to point out that our 2011 Campaign has officially closed at $12.8 Million. This represents a quarter million dollar increase over last year, and the largest campaign achievement in our community’s history!!
Jeff Finkelstein, President/CEO
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