More than $44 Million Given by CFNJ Fundholders to Nonprofits in 2015
January 13, 2016
The amount, which will be deployed to charitable work throughout New Jersey and beyond, represents the greatest one-year amount of philanthropic assets gifted to CFNJ in its 35-year history.
CFNJ currently stewards more than $360 million in charitable assets, making grants to nonprofit organizations in line with the advice of active fundholders or philanthropic goals of those who leave bequests.
In 2015, CFNJ granted out more than $44 million on behalf of these New Jerseyans. Of this amount, 2,555 individual grants totaling $21 million supported nonprofits in New Jersey, including in all twenty-one counties. Another 2,746 grants totaling $23 million supported nonprofits outside of New Jersey, including in all fifty states.
“Coming off of this very successful year, we will focus even more on linking our fundholders and other philanthropists in the community to our work on critical challenges facing the state,” said Tom Uhlman, CFNJ’s Board Chair. “We find that fundholders, including many new ones, are eager to have an even greater impact through their giving. Our leadership initiatives and support from our team are helping them achieve this objective.”
Approximately $32.2 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.
CFNJ fundholders granted nearly $2 million in scholarships in 2015, helping 475 young people achieve their dreams of a college education.
Legacy Funds, through which donors entrust CFNJ to steward their giving in line with their philanthropic goals, were responsible for $4.4 million of the year’s total giving, impacting causes ranging from vision loss to animal welfare.
“What we’re most proud of is how well-rounded this giving really is. There is not an issue or cause that isn’t a passion for one of our fundholders,” said Hans Dekker, CFNJ’s President. “We help them take their giving to the next level and achieve real change in the communities they care about, no matter how audacious their goals may be.”
CFNJ marked its 35th anniversary last fall by celebrating the success of its Changemaker Fund, which has added to the fundholder experience by helping young girls escape human trafficking, putting an end to solitary confinement for New Jersey’s incarcerated kids, and helping 100,000 children from low-income families start the school day with a nutritious breakfast. The Changemaker Fund will announce its 2016 funding areas in the coming months.
About the Community Foundation of New Jersey
Established in 1979, the Community Foundation of New Jersey’s mission is to support charitable giving that is inspired by its fundholders, targeted at making communities stronger, driven by creative solutions, and effective in achieving lasting change. Through a combination of Legacy Funds and Donor Advised Funds, the foundation has granted an average of more than $30 million each year to charitable organizations and currently stewards over $360 million in charitable assets for current needs and future challenges.