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Tag: endowments

Community a work highlight

Community a work highlight

Marcie Flom leaves the Jewish Community Foundation after 21 years, to pursue the next chapter of her professional life. (photo from Jewish Federation)

“I just want to say that I have been blessed to have had the opportunity to serve this community for as long as I have, and I want to acknowledge all the support of the staff and volunteers I have had the pleasure of working with,” said Marcie Flom, whose last day as executive director of the Jewish Community Foundation of Greater Vancouver was Dec. 27. “Community work is a team effort, and we are very fortunate in the Vancouver community to have a wealth of talented and passionate volunteers and professionals who care deeply and contribute wholeheartedly to its success.”

Flom leaves her post after 21 years.

“It is always good to leave on a high note and I achieved my personal goal of stewarding the Jewish Community Foundation over the $100 million mark,” she said. “There is a very strong and competent team in place at the Foundation and Federation and exceptional lay leadership in the Foundation governors under chair Howard Kallner.

“With all that in place, it is the perfect time for me to move on to pursue the next chapter in my professional life. I’m planning to continue my work with donors and families to assist them with their philanthropy – it’s the piece of life’s work that brings me the greatest joy and fulfillment.”

Flom joined the Jewish Federation of Greater Vancouver in 2004, when she was recruited by then-new executive director of Federation Mark Gurvis, who now serves as chief executive officer of the Ronald S. Roadburg Foundation, for the role of Foundation director. (The Foundation was founded in 1989 as the endowment program of Federation and has developed from there.)

“I had spent most of my career in the not-for-profit sector working in the arts, first for the National Ballet of Canada in Toronto and then for the Vancouver Playhouse Theatre Company,” said Flom. 

This experience in marketing and development is one of the reasons Gurvis reached out to her.

“I was a new mother and consulting at the time, and I felt strongly that I wanted to raise my daughter in the community,” said Flom about why she accepted the Foundation position. “It was also a challenging time in Israel, and I thought it was the perfect time to use my experience for the benefit of the community here and in Israel. It was an excellent role for me, and I saw a great deal of potential for growing the Foundation and raising my daughter in a caring community.”

Flom’s role at the organization also grew.

“After a few years as Foundation director,” she said, “the Federation recognized that it needed a more donor-centric and holistic approach to working with donors to match their interests to fill gaps in community services and to meet emerging needs. I had the relevant experience in marketing and fundraising to integrate those functions operationally into a new philanthropic model which addressed financial resource development across the organization.

“I moved into a VP role, which was largely operational. With the level of operational experience and knowledge that I cultivated, I was positioned to serve in greater capacity, culminating in my most recent role, with oversight of the community engagement and local and overseas allocations processes. It was the perfect role as I wrapped up my time with Federation, the integration of revenue and the distribution and granting of charitable funds. I also managed the allocation of our communities Israel Emergency Funds alongside chair Stephen Gaerber and the director of Federation’s Israel office, Rachel Sachs. I cannot begin to express how meaningful and impactful that process has been for me personally during one of the darkest periods in the history of the country.”

Federation is currently recruiting a senior development professional to fill the vacancy Flom’s departure leaves. Not an easy task.

“One of the things that stands out most about Marcie is her people-first approach,” wrote Ezra Shanken, Jewish Federation chief executive officer since 2014, in his weekly Shabbat message last November, when he announced Flom’s decision. “She has mentored many of our staff over the years, and has built authentic and long-lasting relationships with partners and donors who speak of her impeccable integrity, her strategic approach, and her genuine care for community.”

Shanken wrote that it was with “mixed emotions that we share that Marcie will be stepping down from her role with us at the end of this year. We will miss her, but she is ready to start a new chapter in her career, and we are excited for her.”

Among the highlights of her time at the Foundation, Flom said, “Of course, participating actively in our community’s growth and seeing the funding directly impact capacity across community has been incredibly rewarding, but I am also so grateful to have had the opportunity to work with so many community members to help them achieve their philanthropic goals through association with Federation and through their funds at the Foundation. That aspect of my work has always been a true pleasure, and it was only possible because of the many trusted relationships I have with the people I have worked with across our community, including lay leaders and the professionals. Those are treasured and greatly valued.”

There were challenges over the years, notably COVID and Oct. 7.

“I also distinctly remember the financial crisis of 2008,” said Flom. “Isaac Thau was chair of the Foundation’s investment committee at the time, the markets were significantly down and there was tremendous pressure related to portfolio performance. Isaac fondly recalls it as ‘the time that we couldn’t walk through the JCC lobby without wearing a helmet.’ It was challenging for sure, but the Foundation closed the year with a moderate loss compared to others like the Vancouver Foundation and, in the end, the way we navigated that time helped to build our reputation.”

That reputation no doubt helped the Foundation reach the milestone of more than $100 million in assets under management. 

“The growth is attributable to the strategic plan but, more importantly, the trust and confidence the Foundation has built in our community,” Flom affirmed. “The governance and committee structure in place, the passion, knowledge and expertise of our volunteers, particularly at the governor and investment committee tables, have all built confidence so more and more community members and charitable organizations are turning to the Foundation to manage their assets and assist them with their philanthropy.”

The Foundation distributes more than $3 million annually to “a broad range of charitable organizations and areas of service across community through its unrestricted grant program and from donor-advised and -designated funds,” she said. “The Foundation works with fund holders to meet new and emerging needs in the community, support organizations and their program delivery, and to provide legacy support for organizations to carry out their important work in perpetuity.” 

Format ImagePosted on February 14, 2025February 13, 2025Author Cynthia RamsayCategories LocalTags endowments, Jewish Community Foundation, Jewish Federation, Marcie Flom, philanthropy
Giving for the future

Giving for the future

Creating an endowment fund with the Jewish Community Foundation is not solely an enterprise taken on by high-net-worth individuals and families. (screenshot)

Established in 1989, the Jewish Community Foundation now has more than 350 endowment funds and $85 million in assets under management. Marcie Flom, the executive director of the foundation, told the Independent that creating an endowment is not solely an enterprise taken on by high-net-worth individuals and families – anyone with a desire to put a fund in place can do so.

“The foundation tries to impress upon individuals and families in the community the importance of perpetuating their lifetime of community participation and giving, so that their children and grandchildren will have a community centre, camps and day schools to go to,” Flom said.

The foundation offers many different options and works with a broad range of community members – each with their own economic circumstances – to establish an endowment fund. Together, they ascertain what is important to the community member.

“I have a personal meeting to try and understand what their objectives are, what they are trying to accomplish. Are they thinking about doing this in their lifetime or after their lifetime? And I would ask such questions as, would they want to involve their children during or after their lifetime? Is teaching tzedakah one of their objectives?” Flom explained.

To illustrate, if a person wanted to support a synagogue and ensure that the shul will still be economically viable for their children, they could set up a designated fund for that purpose. This would be done by making a bequest through their estate, meaning there would be no cash outlay during their lifetime.

There also are donor-advised funds, with which the foundation can help people direct support to issues and needs that are of concern to them. The fundholder is entirely in charge but the foundation can help match the holders’ interests to organizations addressing those issues and needs.

“We have a strong knowledge and understandings of what the needs are through our association with the Jewish Federation of Greater Vancouver, their planning council and the community-convening work that we do,” said Flom. “We can help donors make their philanthropic decisions and direct their support where it is really impactful and meaningful for them.”

Further, members can create unrestricted funds. Here, the foundation calls upon charitable organizations within the community to submit proposals for funding. This granting process provides timely support to a wide range of pressing, emerging and ongoing community interests and needs.

“When we were in COVID and were hit with unprecedented needs and change, those unrestricted funds were invaluable because we could respond in real time and put resources where they were most needed in the community,” Flom said.

Currently, with issues such as rapidly rising inflation, food insecurity and housing affordability affecting many in the community, unrestricted funds allow the foundation to be nimble.

“Unrestricted funds have the most flexibility for the foundation to work in partnership with the organizations that are delivering the services, such as Jewish Family Services and Tikva Housing,” Flom said.

The various funds can be created in numerous ways. For example, a person in their 50s on a modest income may have taken out a life insurance policy in their 30s. This person could decide that, upon their passing, the net proceeds of the policy should go to a legacy fund. There would be no cash outlay for them and they would receive an annual tax receipt for their premium payments.

Another choice is for a family to pledge $1,000 a year for 15 years to build up a fund. By making that donation, they would also be receiving a tax credit while the fund grows.

Or, individuals who consider themselves “asset rich but cash poor” could leave a bequest from their estate to add to the fund they started during their lifetime.

“We all care about our community and we all have a role to play in supporting and nurturing it, and the foundation provides a number of ways to do that. The foundation is in tune with the needs of the community and can help donors to really have an impact with their grants,” Flom said.

“We have so many people who are committed to maintaining and growing our community, to making sure it is really strong and healthy and that next generations are engaged in community. We are so fortunate to have a very generous community that helps sustain us,” she said.

According to the foundation’s website, more than $3.3 million in distributions were made in 2020/21, supporting a range of community organizations, programs and services. For more information, visit jewishcommunityfoundation.com, call 604-257-5100 or write [email protected].

Sam Margolis has written for the Globe and Mail, the National Post, UPI and MSNBC.

Format ImagePosted on March 24, 2023March 22, 2023Author Sam MargolisCategories LocalTags bequests, endowments, Jewish Community Foundation, Marcie Flom, philanthropy
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