Marcie Flom

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.”

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.

An education legacy

In October, our community lost one of its most devoted supporters, Leon Glassman, z”l. Leon will be remembered for generations to come for his commitment to Jewish education and its central role in Jewish identity and continuity. Through the Jewish Community Foundation, Leon created a legacy that reflects his lifelong passion in these areas. Together with his wife Rose Marie, they made an indelible impact on our community – an impact that will ensure his memory lives on.

Leon and Rose Marie’s commitment to Jewish education goes back decades to their life as young parents in Regina. Their move to Vancouver was motivated in part because here they would be able to provide their children with a Jewish education, which they saw as an integral aspect of helping them develop strong Jewish identities.

Leon and Rose Marie recognized that the high cost of living in the Lower Mainland today has reduced the ability of many families to enrol their children in Jewish day schools and Jewish educational programs. They wanted to find a way not just to help families and children, but to strengthen Jewish continuity for the community as a whole.

In April 2016, Leon and Rose Marie made a million-dollar gift to create the Leon Glassman Fund for Jewish Continuity through Education endowment fund. The response from community members who share their passion, as well as from the day school community that understands so clearly the impact this endowment will make, was tremendous, and it inspired Leon and Rose Marie to make a second million-dollar gift to the fund.

The fund will provide a steady source of support for tuition assistance, so more children can reap the benefits of a Jewish day school education. This endowment will support an area of need that was close to Leon’s heart, enriching our community in perpetuity.

According to executive director Marcie Flom, the Jewish Community Foundation was “privileged to work with the Glassmans to create Leon’s legacy for the Jewish community.” She said, “Leon’s philanthropy reflected his life’s passion and his commitment to Jewish education in a way that perpetuates his memory for his children and grandchildren.”

Like Leon and Rose Marie, there are many community members who support causes that reflect their interests and their values. If you are among them, then you, too, can create a legacy at the Jewish Community Foundation that reflects your passions. To make a contribution to the Glassman Fund or for more information on how to create a legacy, visit jewishcommunityfoundation.com.

Where there’s a will …

Planned giving – the allocation of funds to charity in a will – is the lifeblood of many charitable organizations. But proper planning can deliver excellent financial benefits to the donor during their lifetime, too.

Aeronn Zlotnik, a financial advisor with ZLC Financial, said proper planning can ensure more money for a donor’s favorite charity and less money for Canada Revenue Agency.

“There’s a whole bunch of different vehicles we can use to make the experience much more tax efficient and better for the client,” he said. “For instance, you might be able to make a donation but then they’ll turn around and buy you an annuity so that you have some income on a go-forward basis.”

Buying an investment fund that is willed to the charity is another alternative. It could be structured so that the donor receives income tax-free. For instance, Zlotnik said, a $100,000 investment might provide $100 a month in income, which is designated return of capital, rather than new income, and is, therefore, tax-free.

“There are rules in place where you could donate securities and not have to pay for capital gains and so, effectively, you could increase your income today and make a charitable donation later and everybody wins,” he said.

The top rule of thumb, Zlotnik explained, is having a conversation with an advisor about intentions. There are other ways to decrease or eradicate taxes owed on an estate. Better still, there are ways to maximize the benefits while we’re still around to appreciate them.

Designating registered retirement savings plans or a registered retirement income fund to charity means the estate will avoid being taxed at the highest marginal tax rate of the deceased person, while at the same time generating a tax benefit for the plan’s total value. The dead have a tax advantage over the living, in that a tax credit arising from a bequest can be applied in its entirety to the estate’s tax bill, compared with a rate of 75% for a breathing taxpayer.

Transferring a life insurance policy to a charity allows the premiums to qualify for a tax benefit. Annuities, if arranged properly, can benefit the donor during life by providing interest income and a tax receipt for the donation to boot. In the end, the charity gets the principal.

The significance of planned giving to charities is crucial, according to Marcie Flom, vice-president, financial resource development for the Jewish Federation of Greater Vancouver.

“These planned gifts ensure the long-term stability and viability of not-for-profit organizations,” she said. “They provide resources that the charity can count on as a stable source of funding to carry out its mandate, its charitable work. By having a stable source of funding for their core mandate, it enables them to allocate resources to take some risks, to try new programs. It provides that stability.”

Endowed funds, which are a common product of planned giving, let an organization breathe a little easier, knowing that there will be guaranteed income at a certain level each year.

“Obviously, that’s the benefit for those agencies,” Flom said.

For the donor, in addition to the tax benefits, this approach is also a statement of philanthropic vision, which can continue even after they are gone.

“It’s a wonderful way,” said Flom, “for them to create a legacy in the community that reflects their charitable giving through their lifetime … and then, again, for the organization, it provides that long-term, stable funding that is so critical to the organization’s operations.”

Federation sustains success

As the 2014 Jewish Federation of Greater Vancouver annual campaign draws closer to a record $8 million mark, preparations are well underway to build on that success in 2015.

Cindy Behrmann, campaign director since 2012 and one of the primary drivers behind this year’s campaign will be heading off to a well-deserved retirement. Over the past few months, Federation was hard at work reviewing the financial resource development (FRD) department in advance of Behrmann’s departure at the end of December and has announced the following changes.

photo - Michelle Pullan — Michelle Pullan *(photo from Jewish Federation of Greater Vancouver)*

Michelle Pullan, Federation’s women’s philanthropy director since 2011, will assume the role of campaign director. Pullan has considerable experience in philanthropy and fund development, having enjoyed success as a fundraising manager at Ballet BC and director of development at Vancouver Heritage Foundation before joining Federation’s FRD team. She has taken on leadership and volunteer roles on behalf of Jewish schools in the community and has served on the boards of Camp Solomon Schechter and Camp Hatikvah.

Campaign coordinators Eva Bach and Anna Vander Munnik have been promoted to the role of campaign managers. Vander Munnik, with Federation since 2011, will focus her effort on managing the men’s philanthropy division, while Bach, who joined Federation in 2013, will manage the women’s philanthropy portfolio. Also returning in January from maternity leave will be director, marketing and communications, Becky Saegert.

Led by associate executive director Marcie Flom, the FRD team is well positioned to capitalize on and sustain the success enjoyed in 2014.

Plan your giving in Leave a Legacy Month

If you don’t have a will, get it done. That’s the message of the Canadian Association of Gift Planners, an organization that’s designated the month of May as Leave a Legacy Month. Calvin Fong, chair of the national program titled Leave a Legacy, said the program’s goal is to raise awareness of the importance of having a will, as well as the idea that people consider leaving a gift to charity in their will.

“If you die without a will you really have no control over how your estate gets distributed – legislation will dictate that instead,” Fong told the Independent. “Without a will, for example, you have no way of leaving a gift to your favorite charity or creating a trust for your spouse. Having a will ensures your wishes are articulated and carried out after your death.”

Just six weeks ago there were changes to the Wills, Estates and Succession Act (WESA) with important implications. The minimum age to create a will has been lowered from 19 to 16, wills created prior to marriage are still valid after marriage, and the courts have been granted authority to recognize non-compliant documents as wills, and ensure that a deceased person’s last wishes will be respected. For example, legislation now allows for the possibility that electronic versions of wills might be recognized. “The changes modernize legislation created over 100 years ago and streamlines things for the public,” Fong explained.

Tax savings is another reason to consider creating a will. Gifting money or assets to charity makes your estate eligible for a tax deduction upon your death, while creating a trust in your estate allows you to defer taxation of certain assets.

If considering gifting money to charity, start by figuring out what you want your personal legacy to be, advised Marcie Flom, director of the Jewish Community Foundation, which is housed at the Jewish Federation of Greater Vancouver. JCF works one-on-one with donors to create their legacies, using bequests, gifts of life insurance, gifts of cash and in-kind donations, annuities and charitable trusts. To date, it has 330 endowment funds and assets of $42 million that it manages on behalf of donors in the community.

With gifts of life insurance, donors name JCF as the owner and beneficiary. Upon their death, the proceeds of the policy enter an endowment fund they created during their lifetime, supporting causes that were important to them. “Some donors have various life insurance policies and discover that they no longer need them, so they decide to donate them to the foundation,” Flom explained.

With bequests, individuals stipulate a gift to the foundation in their will to support those causes. “It can take various forms, such as a set amount or a percentage of their estate,” Flom said. “It’s very personal, and usually people meet with me to talk about what they want to do, the idea being that we want to help increase your current income or estate value, while also creating a lasting legacy for the community.”

That legacy can involve donations to Jewish and non-Jewish causes, as the JCF distributes funds to both. And there’s a broad range of donors, Flom said, with some funds established with as little as $1,000, or no assets at all if it’s a planned gift. “Some donors make a modest contribution to their fund each year to build it over time,” she explained, “but legacy planning is not limited to those with means. Anyone can establish a fund in any amount and build it over time or establish a fund with a planned future gift.”

Some individuals use their legacy to involve and engage their children in active philanthropy. “They work with us on their philanthropy during their lives, but also use it as a method to engage their kids to take over that philanthropy after they’re gone,” Flom said. The children continue their parents’ legacy of lifetime giving by working together to direct support to their parents’ favorite charities and/or the charities that they are passionate about.

For more information, call the Jewish Community Foundation at 604-257-5100 or visit jewishcommunityfoundation.com. For more on Leave a Legacy Month, WESA changes and more, visit leavealegacy.ca or cra-arc.gc.ca.

Lauren Kramer, an award-winning writer and editor, lives in Richmond, B.C. To read her work online, visit laurenkramer.net.