The Foundation currently manages about 1,400 funds for individual, family, and foundation donors. Designated (33%) and Donor Advised Funds (30%) comprise the largest proportion of the Foundation’s assets, followed by Community Action (Unrestricted) Funds (24%), and Custodial Funds (13%).
The Foundation is sensitive to the philanthropic interests of our donors but also attempts to call attention to the importance of unrestricted giving. In recent years, the Foundation has increasingly highlighted opportunities for legacy giving and the organization works directly with donors and with their professional advisors – including attorneys, accountants, and financial consultants – to provide counsel on charitable giving options. Such charitable options include Community Action (Unrestricted) Funds, Donor Advised Funds, Custodial Funds, and Designated Funds, which incorporates individual, field of interest, and scholarship funds.
The Foundation and our donors make grants to charitable institutions in Greater Hartford, across the country, and around the world. In FY20, the Foundation awarded $4.5 million in grants. These grants fund innovative projects, community-wide initiatives, and a broad range of programs and institutions. Grants from Community Action (Unrestricted) Funds are awarded through a competitive grant application process; grants from Donor Advised Funds are made upon the recommendation of donors, after review and approval by the Foundation Board; and grants from Designated Funds are made automatically each year to fulfill the charitable interests for which the funds were originally created.
While the Foundation and our donors make grants to many organizations and programs, our four areas of community grant-making priority are: Jewish education, Jewish outreach and engagement, non-profit capacity building, and seniors and aging.