Community Foundation of NJ has record year: $108M for philanthropy

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Garden State families set a new mark for generosity, the Community Foundation of New Jersey announced on Tuesday.

Here’s more from the Morris Township-based nonprofit.

From the Community Foundation of New Jersey:

The Community Foundation of New Jersey (CFNJ) today thanked its more than 1,000 fundholders for new philanthropic gifts to CFNJ totaling $108 million in 2016.

These contributions, which will be deployed to support charitable work throughout New Jersey and beyond, exceed last year’s $100 million, which had been the greatest one-year increase in the public charity’s philanthropic assets.   

community foundation of njCFNJ currently stewards more than $400 million in charitable assets, supporting charitable causes in line with the advice of active fundholders, executing the philanthropic goals of fundholders who have left bequests, and directing funds toward the Foundation’s high-impact, broad-based leadership or ‘Changemaker’ initiatives.

“By partnering with our fundholders, we were also able to expand our Changemaker programming in 2016,” said Tom Uhlman, CFNJ’s Board Chair.

“This included expanding civic literacy in New Jersey schools to 65,696 students during the 2016 election, providing legal representation in family and immigration court to twice as many child refugees fleeing Central American gang violence as compared to 2015, extend by six months the life of New Jersey’s addiction support hotline, and fund the transportation costs for 83 school field trips across the state.”

In 2016, CFNJ made 5,718 unique grants totaling $56 million. Of this amount, 2,774 unique grants totaling $36.5 million supported nonprofits in New Jersey. Another 2,944 grants totaling $19.6 million supported nonprofits outside of New Jersey.

“Behind these philanthropic funds are families and businesses that are serious about improving their corners of the world,” said Hans Dekker, CFNJ’s president.

“In the course of working with these fundholders, we are able to really understand their philanthropic motivations and goals and help identify new ways to make an even deeper impact. It’s because of these relationships—built over time—that many fundholders entrust the Community Foundation to continue their legacy of giving in perpetuity.”

Approximately $29 million of the total grantmaking came from donor advised funds, through which individuals, families, and businesses not only support a wide range of organizations and issues, but also leverage CFNJ’s team of philanthropic professionals to achieve the most favorable tax treatment and greatest community impact.

Donor advised funds were responsible for some of the year’s most creative giving, from bringing 819 area youth to the National Winter Activity Center in Vernon, NJ, to experience the thrill of downhill skiing and learn about healthy living to hosting a Syrian refugee family in Morris County.

CFNJ fundholders granted approximately $1.2 million in scholarships in 2016, helping 557 young people achieve their dreams of a college education. Nearly 90 percent of CFNJ scholarships recipients graduate within four years.

Legacy Funds, through which donors entrust CFNJ to steward their giving in line with their philanthropic goals, were responsible for another $6.5 million of the year’s total giving, having impact on causes ranging from vision loss to animal welfare.

About the Community Foundation of New Jersey

Since 1979, individuals and businesses have opened charitable funds at the Community Foundation of New Jersey to fulfill their charitable goals and craft their philanthropic legacies. These Legacy Funds and Donor Advised Funds have granted tens of millions of dollars each year, and enabled the Foundation to launch its own Changemaker Projects that are improving New Jersey and its dynamic communities. The Foundation’s funds currently hold over $400 million in charitable assets and made over 5,000 grants last year to charitable work in New Jersey and around the world. 

 

 

 

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