A Legacy of Giving: The Werners’ Philanthropic Journey with JCF
For Diane and Michael Werner, philanthropy is more than just writing checks. It’s about maximizing the impact of every dollar they set aside for charitable giving. As longstanding donors with Jewish Communal Fund (JCF), the Werners have found innovative ways to amplify their philanthropy through impact investing, setting an inspiring example for others in the Jewish community.
Choosing JCF: A Strategic Decision for Impactful Giving
The couple’s journey with JCF began in 2000 when their financial planner suggested exploring donor advised funds (DAFs) for charitable giving. “JCF had a great reputation and gave us the opportunity to give through a Jewish organization that also contributes to other organizations,” explain the Werners. Michael adds, “We were extremely impressed with their low expenses, efficient operations, and donor interface. Plus, part of the profits go to the Jewish community!”
What truly sets the Werners apart is their approach to utilizing their DAF. Unlike many donors who use money market funds or traditional investments for their charitable dollars, the Werners leverage JCF’s impact investing options to immediately put their money to work.
They invest in organizations like Ogen and Hebrew Free Loan Society (HFLS), which provide interest-free loans to individuals and businesses in need. “By lending to HFLS and Ogen, we can use those same dollars for philanthropic good right now, even before we distribute them as grants,” they explain. “For us, that’s a win-win.”
Measurable Results: The Power of Interest-Free Loans and Financial Empowerment
This strategy allows the Werners to maintain a reserve in their JCF account for future giving while simultaneously making a tangible difference in people’s lives. They view the impact of these social impact loan programs as equal to or even better than traditional investment returns.
HFLS, for instance, has received over $4.3 million in interest-free loans from JCF donors since 2018, enabling it to make over $5.2 million in loans to 660 borrowers across New York City, Long Island, and Westchester. These loans have helped lower-income students attend college, supported working families, and empowered entrepreneurs to start businesses—all with an impressive 99% repayment rate.
The Werners’ commitment to financial empowerment through their philanthropy aligns perfectly with JCF’s impact investing options. “Financial empowerment is a critical part of our giving strategy because these programs provide more than just financial relief; they cultivate a sense of dignity and hope,” they share.
Responding to Crisis with JCF’s Impactful Resources
Even during times of crisis, such as the events of October 7th, 2023, the Werners leveraged their JCF account for maximum impact. They made grants to organizations deeply embedded in Israel, like JDC-Israel and UJA-Federation of New York, while also providing loans to Ogen, which has extended $25 million in loans since the war began.
Advice for Fellow Philanthropists: Start Early, Maximize Impact
For those considering impact investing through their DAF, the Werners offer encouragement: “Start early, even if you start small. You can’t experience the fun of it until you do it, and then you’re hooked!”
The Future of Philanthropy: Doubling Your Impact with JCF
The Werners’ story demonstrates the powerful potential of combining traditional charitable giving with impact investing through a donor advised fund. If their approach inspires you and want to explore how you can maximize the impact of your own philanthropy, Jewish Communal Fund offers a variety of Jewish Impact investment options.
To learn more about these opportunities and discuss how you can incorporate impact investing into your philanthropic strategy, contact Igor Musayev at [email protected]. Igor can provide detailed information about the available options and help you tailor an approach that aligns with your values and giving goals.
Together, we can build a stronger, more resilient Jewish community and create positive change in the world.