Elizabeth Rowley, CFOS Director of Development accepting a check from Elise Gold on behalf of JFS

If you’re reading this, then you likely remember 2008.  Yes, the financial crisis hit.  At that time, the Diane Finkelstein Fund for Families in Crisis had money invested in an endowment fund.  And yes, at that time, the Board of Directors did what they thought was the most responsible thing to do.  Money was withdrawn from these growth stocks and put in the bank for safe keeping.

Let’s roll back the tape even further.  Diane Finkelstein was a dear friend to Jewish Family Service.  When she lost her life to cancer over twenty years ago, her family set up a fund in honor of their beloved.  JFS manages this fund.  The fund is used for financial aid to help individuals and families when they are experiencing a crisis.  There is an extensive application process; part of the process is that the committee reviews the needs of the applicant.  They pay special attention to:

1. documentation of the financial need
2. assurance that there is a plan. The money won’t be used as a band aid, but will help the person or family as they are getting back on their feet

In addition to an annual generous donation made by the Finkelstein’s, money is raised in other ways:

• We receive money from FEMA (when I came to this agency, I learned that FEMA funds are not only used for disasters such as hurricanes and floods, but for when there are other crises that people experience)
• United Way- through their Community Impact Grant
• Premier Cares Foundation to offer assistance to people who have gastrointestinal and urological disorders
• Fund raising events over the years
• Warmly received donations from people like you

Why am I sharing this all with you?  Let’s fast forward the story to 2015.  The Board of Directors realized that the monies raised could do much better than sitting in the bank!  I imagine that here is where you are chuckling when you think of the interest that the bank yields.  Yes, JFS prizes itself in offering wonderful programs; we thought that it is best to leave financial investing to others.

We are delighted to join in a partnership with the Community Foundation of Orange Sullivan County.   The “Jewish Family Service-Diane Finkelstein Fund for Families in Crisis” is an agency endowment that CFOSC manages.  Most of the interest will be reinvested so that the fund can grow.  A small percentage will be drawn each year both to help more people in need of funds and to help with agency overhead.  We are delighted to launch this collaboration; it gives us an opportunity to serve more people and ensure that funds will be available to local families in crisis forever!  If you are interested in contributing to this fund or starting an endowment earmarked to any JFS program, don’t hesitate to contact me at 845-341-1173 or the Community Foundation at 845-769-9393.