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March 8, 2002
Cash up but assets down
Mixed news at Federation annual general meeting.
PAT JOHNSON REPORTER
There was good news and bad news at the annual general meeting
of the Jewish Federation of Greater Vancouver Feb. 28. A successful
Combined Jewish Appeal campaign allowed Federation to distribute
substantially more money last year than in the previous 12 month
period. But the difficult market conditions brought an overall decrease
in the value of the assets held by the Jewish Community Foundation
of Greater Vancouver, a subordinate body that distributes funds
for capital projects and special causes.
Ron Rozen, treasurer of Federation, noted that the Jewish Community
Foundation of Greater Vancouver had a net loss of 1.4 per cent in
the market value of its investments, due to troubled market conditions.
Though the results were a disappointment, Rozen told the meeting,
the foundation fared better than many investments during the same
period. The previous year had seen a healthy growth in value of
about 12 per cent. Future returns on investment will reflect overall
market conditions, but foundation officials hope that this year
will see a return to profitability.
On the positive side, funding allocations from Federation to local,
national and overseas programs and agencies made 2001 a banner year.
Federation distributed $4.2 million, compared with $3.7 million
in 2000. Of this, almost $2.2 million went directly to local agencies.
The largest recipients of the funding distributions included the
Jewish Family Service Agency ($411,334), Federation ($405,813),
the Jewish Community Centre of Greater Vancouver ($338,858), Vancouver
Talmud Torah ($329,880) and Vancouver Hebrew Academy ($104,467).
The meeting also introduced to the community Federation's newly
appointed executive-director Mark Gurvis. The Long Island, N.Y.,
native has been at the Jewish Federation of Cleveland, Ohio, for
close to 18 years. His most recent position was as vice-president
for strategic and community planning. Gurvis flew in for the meeting,
but will take up the reins officially on March 18. (The Bulletin
will feature a full profile of Gurvis in the near future.) Gurvis
replaces Drew Staffenberg, who took a position last summer with
the Jewish Family and Children's Service in Philadelphia, Pa.
The meeting also approved a slate of board members and the executive
committee for the next year. Sondra Ritter will continue for a second
term as president.
She will be supported by Bob Willmot (immediate past president),
Fred Mikelberg (vice-president, allocations), Judy Oberlander (vice-president,
planning), Phyllis Moscovich (vice-president, leadership), Gary
Averbach (vice-president, financial resources development), Gail
James (secretary) and Ron Rozen (treasurer).
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