The Berdie & Irvin Cohen (BERVIN) Incentive Fund was established in 2014 to provide an incentive to Jewish organizations to grow their endowment funds, or establish their first one. The Fund is another way the memory of Berdie and Irvin Cohen – a couple remembered for their values, work ethic, upstanding character, and good parenting – is honoured by their son.
In the past, some organizations have been nervous about establishing endowment funds because they understood that they could never access the contributed capital. The Berdie & Irvin Cohen (BERVIN) Incentive Fund addresses that concern, provides a financial incentive, and offers a higher rate of return than a typical GIC.
Here’s how it works:
- When a participating Winnipeg Jewish organization adds $720,000 in new money to its new or existing organizational endowment fund with the JFM, it triggers a $108,000 incentive contribution to their endowment from the Berdie & Irvin Cohen (BERVIN) Incentive Fund
Participating organizations are motivated to encourage their supporters to contribute to their endowment fund
- These same organizations are encouraged to deposit funds they already have held in reserve
- As an added bonus, once participating organizations reach the $1 million mark in new money, not only do they trigger the incentive contribution to their endowment, they also earn the right to withdraw capital from their endowment fund in the event of a “rainy day” or a special project (Withdrawal cannot exceed 50% of the original $1 million.)
The organization will continue to earn income on the balance that remains with the Foundation, and the organization can make further contributions, at its discretion, to rebuild to $1 million and beyond
Participating organizations are required to establish, increase, or broaden their relationship with the State of Israel through meaningful and innovative initiatives
Participating organizations have until 2025 to reach $1 million in new money. Organizational endowment funds at the Jewish Foundation of Manitoba are at the very heart of the sustainability of our community. As these funds grow, more annual income is generated for Jewish organizations that meet our educational, cultural, spiritual, and social service needs.
BERVIN Participating Organizations:
- B'nai Brith Jewish Community Camp
- Jewish Child and Family Service
- Jewish National Fund
- Winnipeg Board of Jewish Education