Shalom Residences Foundation Establishes Organizational Endowment Fund - BERVIN Incentive Boosts Opening Balance to $840,000
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Stu Slayen | Mar 02, 2018
As 2017 wound down, the Shalom Residences Foundation made a major decision about the future funding of its vital service, and moved $732,000 to a new JFM organizational endowment fund. The deposit triggered the $108,000 BERVIN Incentive, a donorfunded initiative to entice organizations to grow their endowment funds.
Since 1978, Shalom Residences has been meeting the residential and programming needs of Jewish adults with intellectual disabilities. Today, the organization serves 35 people – mostly Jewish – with group homes and supported independent living.
“It is important that people in our community can have Jewish culture and content in their lives. That is why we formed the organization in the first place,” says Charles Tax, President of Shalom Residences Foundation, the organization’s fundraising arm. “We want people who are coming to us from a Jewish milieu to always have a Jewish milieu.”
The Province of Manitoba covers about 90% of the Shalom Residences core budget. The remaining 10% comes from fundraising, a Jewish Federation allocation, and occasional project grants. The organization covers the costs of Jewish community programs, special recreational opportunities, kosher food, and down payments on new properties.
“Moving most of our savings to the Jewish Foundation is a good long-term business decision for us,” says Tax. “We are impressed by the diversification of the Foundation’s investments and by the quality of the investment management. The BERVIN Incentive helped us to make the decision, too.”