2012 AnnUAL REPORT

THE JEWISH COMMUNITY FOUNDATION OF MONTREALTaking care of tomorrow... today

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Robert Kleinman FCA Executive Director

Joel Segal President

A year ago, we talked a lot about dreams – yours, ours and those who rely on them to live the quality of Jewish life that was built on the dreams of others. Our 40th anniversary has provided numerous occasions to realize how far we have come. Today, we have much to report on the dream front.

Last year, we issued a record-number of 4,500 cheques to almost 500 organizations. We distributed almost 24 million in funds to hundreds of social service, educational, religious and community organizations on behalf of our donors. That is staggering.

It wasn’t all about the money. It was about doing good and helping others to do good. And in doing that, we fulfilled dreams – for our donors and their beneficiaries.

We are so grateful for all the opportunities that brought us together this year. Our annual Book of Life signing event hosted by Barbi and Stanley Plotnick, was attended by a diverse and enthusiastic group of individuals and families; our B’nai Tzedek kids demonstrated their sense of community responsibility and did us proud; our annual scholarship presentations connected donors and grateful recipients in what has come to be a most powerful and emotional demonstration of what a family can do for others. And our Man of the Year, David Azrieli, showed us the power of dreams and its ability to bring you through darkness and chaos into a meaningful life of making life better for others.

We continued to examine the way we do business, focussing a critical lens on all aspects of our operations. We learned a lot from you. Your input will help us do even better when it comes to communicating and serving you in the future.

Our visioning process has delivered what we hoped it would – measurable results to stimulate community growth and a vibrant future. We are proud to be a partner of the Federation GEn J initiative to build a stronger and better community through identity-building programs that support access to quality Jewish education, the camping experience and outreach and engagement opportunities.

We are reminded every day of the goals simply stated 40 years ago by Arthur Pascal z”l and other leaders like Milly Lande z”l and Boris Levine z”l, who we lost last year, to provide a safety net for the future and enhance the quality of Jewish life.

They quietly set out to do their jobs, with passion and conviction, focussing on the future. They inspired others to share their dreams. We hope we have sustained their vision and helped realize their dreams.

Dreams imagined; dreams fulfilled. That is our mandate-and our promise to you.

Thank you – our donors, our leadership and our professionals – for bringing your dreams to us and for all the Tzedakah you have inspired with your example.

Shana Tovah,

message from the president and executive director

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The Foundation’s Annual Meeting began the yearlong celebration of the dreams of its founders, its honouree and forty years of leadership and growth that continue to enrich the Montreal Jewish community and represent the vision and values of its donors. Joel Segal was installed as president, Brenda Gewurz as vice-president.

David Azrieli C.M., CQ, 2011 Man of the Year was recognized for his philanthropic accomplishments here and in Israel.

In his remarks he announced the creation of a $1.8 million endowment fund to benefit the Miriam Home.

The work we do at the Foundation is truly, as they say, ‘the stuff dreams are made of’.

- Barry Pascal, President

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David you have enriched Jewish lives and transformed the landscape of Israel. It is an honour to honour you.

- Joel Segal

Other Meeting Highlights

Total assets of the Foundation grew from $ 253 to $ 285 million.

$40 million in gifts were received.

$27 million in allocations were made to benefit the community.

new board members include Kathy Lempert, Philip Nadler CA, Gideon Pollack and Francine Wiseman.

Alyssa Wiseman and Adam Shapiro, B’nai Tzedek Council co-chairs, received the Passion for Action award for their outstanding leadership.

Barry, you brought so much to this Foundation: strong leadership, grace, innovation and a positive attitude, no matter what the challenge.

- Joel Segal, incoming president

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The work we do at the Foundation is truly, as they say, ‘the stuff dreams are made of’.

- Barry Pascal, President

Presented annually by the Foundation’s Professional Advisory Committee (PAC), the 2012 program served up a variety of current topics including cross border issues, charitable giving updates and voluntary disclosure and assessment practices; timely issues appealing to practitioners who, as part of their practice, have occasion to work with their clients incorporating philanthropy in their estate plans. Presenters included Abraham Leitner, Davies Ward Phillips & Vineberg LLP, new York; Steve Moses CA, PSB Boisjoli LLP; Sydney Sweibel, Sweibel novek LLP and JCF Executive Director, Robert Kleinman FCA.

As in previous years, several professionals were honoured for their successful efforts to encourage bequests and gifts to the Foundation.

Together, we have been able to provide unparalleled expertise that serves personal and philanthropic goals.

- Rhonda Rudick, PAC co-chair

Barry, you brought so much to this Foundation: strong leadership, grace, innovation and a positive attitude, no matter what the challenge.

- Joel Segal, incoming president

professional development seminar

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OPPOSITE PAGE

1. Barry Pascal, Alyssa Wiseman

2. Joel Sega, Barry Pascal

3. David Azrieli, Joel Segal

4. Mildred Lande C.M. z”l, Arthur Pascal C.M. z”l

THIS PAGE

1. Robert Kleinman FCA, Joel Segal, Sydney Sweibel, Rhonda Rudick, Phil nadler CA, Abe Leitner, Steve Moses CA

2. Hillel Becker, Peter Wolkove, Carl Laxer, Oscar Respitz Q.C., Barry Clamen FCA

3. Co-chairs Rhonda Rudick (2nd from left) & Phil nadler CA (far right) with 2012 honourees: Tasso Lagios, Mark Brender, Barbara novek, Oscar Respitz Q.C., Barry Pascal, Richard Vineberg FCA, Jayne Blumenthal, Seth Dalfen

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I arrived from Chicago in 1943, the bride of Louis Dorsey. We enjoyed a happy life for over 55 years. … Active in our community, Louis was particularly devoted to the Y, where he was Honourary President and active in sports well into his 80’s! I am proud to have initiated the annual Abramowitz Hadassah Art Auction.

- Dorothy Dorsey

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2012 SIGNERS

Shoshana & Joe Chemtob Miriam CohenDorothy Dorsey Michael Engels Beverley Friedman nancy Geller Henriette & Marcel Korner Joel Milgram Samuel Orshan Barbi & Stanley Plotnick Jane & Lawrence Plotnick Sid & Miriam Ross Harriet Saalheimer nancy & Moti Sherer Shirley & nathan Wasser

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OPPOSITE PAGE

1. Sam Orshan and friend

2. 1st signers of the Book of Life. Honourary presidents Oscar Respitz Q.C., Barry Clamen FCA, Mildred Lande C.M. z”l, Michael Blumenstein, Sheila Zittrer

3. Joe & Shoshana Chemtob and family

THIS PAGE

1. 2012 Book of Life Signers

2. Stanley & Barbi Plotnick, Robert Kleinman

3. Dorothy Dorsey

book of life

Since 1993 the Foundation has honoured donors by inviting them to submit their family story. Every year, at the signing evening, families come to officially sign their excerpts. The 2012 event was hosted by Stanley and Barbi Plotnick.

Among the Book’s authors – Holocaust survivors, war heroes, self-made entrepreneurs and grateful immigrants who have started new lives in Montreal.

At the same time, the Book is a testament to those no longer with us who left an enduring legacy of leadership and Tzedakah.

No one has to tell you we have an extraordinary community. One read-through of the Book of Life brings our community – and our families – to life.

- Joel Segal

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I moved from Egypt to Montreal at the age of 13… At the age of 25 I met Shoshana Dangoor, an Israeli tourist and, one month later, convinced her to marry me. We had limited language skills, few friends, no money. But we had determination. …

- Joe & Shoshana Chemtob

…My life is a long story about a Jewish boy, who succeeded with God’s help. My wish is to help strengthen Jewish organizations, for future generations…

- Sam Orshan

book of dreams

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The annual scholarship presentations took place in September to an overflow group of students, parents and donor families. Always a special event, it connects donors and students and puts a face on those in whose memory the scholarship was created.

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This award is making a dream of mine a reality, bringing an incredible educational opportunity within my reach.

- Ron Ollo

EVELYN JOY ABRAMOWICZ SCHOLARSHIP

Sigalit Gal

THERESE & DAVID BOHBOT SCHOLARSHIPS

Anthony Cimino, Levy CorobowJennifer Elbaz, Kimberly ElbazEli Gershtein, Chana notikEric Penney, Rebecca RouimiAlisa Soukhodolskaia, Yuri StavchanskyyDebbi Zeituni

MARLENE BRAND MEMORIAL SCHOLARSHIP

Esther Viragh

BERNICE & GORDON BROWN SCHOLARSHIP

Jessica Erin Meirovici

HADAR CHEMTOB MEMORIAL SCHOLARSHIP

Daniela Carolina Cymberknop

FANNY AND ERNEST FIEDERER SCHOLARSHIP

Elad Emru

YEHOSHuA FRIEDMAN MEMORIAL SCHOLARSHIPS

David Abitan, Olivia BensimonSora Binder, Akiva DrorLevi Dworkin, Rachel FurstSamara Kandelshein, Rachelle Kuperstok Keren Lallouz, Miriam MandelRivka novoseller, Leah PeresElisheva Rand, Meyer Rand, Oren Wasser

JACK GITLITZ CA MEMORIAL SCHOLARSHIPSFOR STuDY IN ISRAEL

Sarah Berger Richardson Elizabeth Moorhouse-Stein

HARRY HOPMEYER MEMORIAL SCHOLARSHIP

Adam Plotkin

MITCHELL KARPER MEMORIAL SCHOLARSHIP

Samantha Benlolo, David Plotkin

MITCHELL KARPER MEMORIAL SCHOLARSHIPSFOR STuDY IN ISRAEL

Bat El Ohayon, Ronnie Ollo

MICKI & NORMAN KEESAL;SAMuEL POLLACK SCHOLARSHIPS

Rebecca Cohn

HENRIETTE & MARCEL KORNER SCHOLARSHIPS

Leehi Yona, Jessica Yudcovitch

LIELA KLINGER KuRTZMAN MEMORIAL SCHOLARSHIP

Amanda Beker

KAREN E. LATT MEMORIAL SCHOLARSHIP

Karen Willoughby

LEVITT FAMILY FOuNDATION SCHOLARSHIPS

Joanne Haboucha, David PerezRebecca Perez, Melissa Szilagyi

IRENE BRAND LIEBERMAN MEMORIAL SCHOLARSHIP

Allyson Cooperman

BASSIA & SASCHA MARMERSTEIN MEMORIAL SCHOLARSHIP

Maria Fuller, Kevin Gan

HENRY OELBERG MEMORIAL SCHOLARSHIP

Angela Wilson

DR. OSKAR & SALLY SCHICKLER SCHOLARSHIPS

Ana Carina Dumitru, Tania Sasson

MANNY WEINER SCHOLARSHIP

Florence Mudzongo

MCGILL DEPT. OF JEWISH STuDIES

JACK GITLITZ CA MEMORIAL SCHOLARSHIPS

Jonathan Lazare, Michael Schwartz

SHEVA & DAVID HONIG SCHOLARSHIP

Marion Becheri

DR. OSKAR & SALLY SCHICKLER SCHOLARSHIPS

Bakinaz Khalifa Abdall, Racheli Haliva

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B’nAi TzeDekkids who Care

OPPOSITE PAGE

1. 2011 Scholarship recipients

2. Ron Ollo, Phyllis & Ian Karper

3. Gordon Brown z”l, and recipent

THIS PAGE

1. Talia Bensoussan, Lauren Wiseman, Co-chairs, BT Council

2. “Brunch ‘n’ Baskets”

3. Joel Segal, Francine Wiseman, BT Chair, Kathy Cohen, Robert Kleinman

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A new generation of philanthropists

B’nai Tzedek is a teen philanthropy program founded on the fundamental principle that Tzedakah is far more than just a passive act of charity. It is a lifestyle. Today, there are over 150 B’nai Tzedek members. Each of them cares deeply about some cause or organization.

Just before Pesach, B’nai Tzedek kids got together with BBYO Eastern Region to exchange ideas on com-munity leadership and service. Co-chaired by Talia Bensoussan and Lauren Wiseman, the presentation included BT basics of fund management and alloca-tions. Following brunch, the action moved to a nearby warehouse where teens helped pack B’nai Brith Pesach baskets. Some teens even got the chance to deliver the baskets and experience the gratitude of the families they visited.

It was a great year in so many ways but the highlight for me was watching BT kids pack Passover baskets for those needy families among us.

- Fran Wiseman, BT chair

We were invited to do something good; feel great; be involved... Mission accomplished.

WHAT BT KIDS CARED ABOuT IN 2011

Agence OmetzAlzheimer’s GroupAuberge Shalom…pour femmesAutism Speaks Canada BBYOBialik High SchoolCamp B’nai BrithCombined Jewish AppealDans la RueFree the ChildrenFriendship CircleHelp HaitiJPPS LibrarySir Mortimer B. Davis - Jewish General HospitalJEM WorkshopMake a Wish FoundationMeals on WheelsMontreal Holocaust Memorial CentreOneXOne Children’s CharitySegal Cancer CentreSolomon Schechter AcademySun YouthToronto ZooUTT/HerzliahWeizmann Canada

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We are greatly appreciative of those individuals and families who, during their lifetime or by a will bequest, have demonstrated that Tzedakah and the spirit of Tikkun Olam live in their hearts and in those of their families.

DESIGNATED FuNDS

Heather AdelsonHarry, Eva and David Geller Memorial FundGEn J Education FundJoseph Katz ScholarshipFelice Pascal Memorial FundRabbi Sidney Shoham Scholarship Fund

FAMILY FOuNDATIONS

Azrieli Foundation Endowmentfor the Miriam HomeFondation de Marie Francoise et Marc BeauchampSamuel & Saidye Bronfman Family FoundationRabbi Ronnie Cahana FundMark Cohen FundJacques FoisyMarvin Kasner FundPearTree Family FoundationRSM Richter Chamberland FundJeremy Reitman FundStephen Reitman FundBarbara Segal Family Foundationnabil Tabet FundAvi Wallerstein Fund

B’NAI TZEDEK FuNDS

Henry Jacob BasselJordan BicherHarrison BrockTheo CapeDavid KalichmanJoshua Levinenoah MatarassoSara Masciotra-Milsteinnaomi OvadiaAriel RosenZachary RosenJonah Davis Yanofsky

BEQuESTS

Oscar Birnbaum z”lEdith & Edward Jakubowicz z”lHilde Jasen z”lCharles Lerner z”lMarion Schneiderman z”lDr. Steven S. Zalcman z”lJack Zimmerman z”lBella Zuckerman z”l

LEGACY SOCIETY

Michael EngelsDeborah WeintraubGabriel Weintraub

new endowment funds

APRIL 1, 2011 – AuGuST 1, 2012

we remember

“…It’s my honour to continue my family’s legacy of contributing to a prosperous Jewish community and a strong, democratic, Jewish State of Israel.”

- Michael engels

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Martin Levine z”l

Stanley Hyman z”l President 1999-2001

Marjorie Bronfman z”l 1999 Woman of the Year

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OPPOSITE PAGE

1. Michael, nancy & Steven Engels

THIS PAGE

1. Joel Milgram

2. Edward z”l & Marsha Bronfman

3. nancy Geller

new donors

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...Our parents were deeply involved and committed to many Jewish organizations and we are fortunate to be able to follow their leadership.

- Joel Milgram

...My parents, Eva and Harry, both worked, and raised my brother David and me in a traditional Jewish home. They sent us to UTT to benefit from a Jewish education. Being a part of the Foundation is a way for me to honour their memory...

- nancy Geller

...Through the exemplary leadership of my parents, Lucy and Allan Bronfman, I developed a commitment to help ensure the well-being of community life both in Canada and in Israel. My bond with Montreal’s Jewish community has never been broken and I hope my children retain the same significant feelings for their roots.

- edward z”l and Marsha Bronfman

Martin Levine z”l

Marjorie Bronfman z”l 1999 Woman of the Year

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Our donors create legacies through the establishment of endowment funds which are invested with professional investment managers under the guidance of the Foundation’s investment committee. A 5% allocation is granted annually according to donors’ instructions.

Designated funds enable donors to select programs or causes to sustain in perpetuity. Allocations in their names are made annually to those organizations which are most meaningful to them.

Family Foundations/philanthropic funds offer an easy and meaningful way to give as a family. Allocations are decided on an annual basis in consultation with family representatives.

undesignated funds are created by donors who wish to leave a legacy without any restrictions. These funds enable the Foundation’s allocations committee to respond to changing needs of our community and fund innovative projects.

JCF ALLOCATIONS COMMITTEE GRANTSfrom Undesignated Funds

COMMuNITY ORGANIZATIONS

Federation CJA (GEn J) $332,700Communauté Sépharade Unifiée du Québec 38,500 Hellenic Community of Greater Montreal 5,000Jewish Public Library 5,000Leave a Legacy 5,000

JEWISH CuLTuRE & EDuCATION

Shaping Our Future 209,400 United Talmud Torahs of Montreal 70,000Klez Kanada 40,000Mod Three Productions LLC 25,000Segal Centre for Performing Arts 12,000Canadian Centre for Architecture 5,000D.O. Film 5,000Tellastoryfilms.com 5,000

RELIGIOuS INSTITuTIONS

Jewish Unity Partnership Inc. 20,000Ghetto Shul 18,500

MISCELLANEOuS 23,700

TOTAL $819,800

TZEDAKAH ALLOCATIONS IN PARTNERSHIP WITH JCF DONORSDesignated and Philanthropic Funds

COMMuNITY ORGANIZATIONS

Combined Jewish Appeal $6,445,500UIA Federations Canada 554,600Fondation du Grand Montréal 218,700Foundation for the YM-YWHA 174,400Montreal Holocaust Memorial Centre 138,000YM-YWHA Montreal Jewish Community Centres 130,100Camp B’nai Brith Inc. 122,600Centraide of Greater Montreal 106,200United Jewish Appeal of Greater Toronto 78,000Communauté Sépharade Unifiée du Québec 77,600Association Sépharade de la Banlieue Ouest de Montréal 66,400Camp Moshava 54,000B’nai Brith Canada 47,600Communaute Sepharade de Ville St. Laurent 29,000Camp Massad 25,100David Suzuki Foundation 22,000March to Jerusalem 15,700Bathurst Jewish Community Centre 13,500Centre Communautaire de la petite Italie 12,500B’nai Brith Foundation 11,700Canadian Centre for Diversity 10,000Canadian Amateur Synchronized Swimming Assocation Inc 10,000Trevor Williams Kids Foundation 8,000Tyndale St-Georges 7,300Radio Shalom 6,500YMCA Foundation 6,000Choices for Youth Inc 5,000Eastern Ontario & Western Quebec Christmas Cheer Foundation 5,000Info-Secte / Info Cult 5,000

HuMAN SERVICES

The Sir Mortimer B. Davis - Jewish General Hospital Foundation 1,714,800Montreal Heart Institute Foundation 431,700Montreal General Hospital Foundation 394,500Miriam Foundation 390,900The Montreal Children’s Hospital Foundation 342,300Chabad Lubavitch Youth Organization 286,300The Friendship Circle 230,500Mizrachi Montreal 189,600Chaverim Donne La Main 150,000Alzheimer Groupe Inc. 127,600CHUM - Fondation du Centre Hospitalier de l’Universite de Montréal 107,100Maimonides Hospital Foundation 103,400Cummings Jewish Centre for Seniors Foundation 102,700Agence Ometz 92,000Jewish Hospital of Hope Eldercare Foundation 89,800Mary Katz Claman Foundation 80,000Auberge Madeleine 75,000Mount Sinai Hospital Foundation 66,000Juvenile Diabetes Research Foundation Canada 55,800Auberge Shalom... pour femmes 54,900Maison Shalom 50,700Toujours Ensemble 50,700Foundation for Gene and Cell Therapy 50,000Donald Berman Yaldei Developmental Centre 49,100Royal Victoria Hospital Foundation 47,200Fondation Cité de la Santé de Laval 41,100Sun Youth Organization 40,400Hebrew Free Loan Association 37,400Fondation de l’Hôpital Sainte-Justine 36,000Sir Mortimer B. Davis JGH Ladies Auxiliary 35,600Cancer Research Society Inc. 35,000JEM Workshop Inc. 33,600Just for Kids Foundation 32,700Canadian Cancer Society 31,100MAZOn Canada 31,000Sunnybrook & Women’s Foundation 30,000Honor Aid Society 25,600Fondation IntgréACTIOn du Quebec 25,000Mount Sinai Hospital Corporation 25,000OneXOne Foundation 25,000St. Mary’s Hospital Foundation 25,000

2012 allocations36.9

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Community Organizations

Human Services

Jewish Culture & Education

Religious Institutions

Israel / Overseas

Miscellaneous

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Cummings Jewish Centre for Seniors 23,100Migdal Ohr Tower of Light Children’s Foundation 22,800Emunah Women of Canada 20,900Doctors without Borders 20,100MAB-Mackay Rehabilitation Centre 20,100Jewish Community Rehabilitation Foundation 18,700Chabad Lifeline 18,500Fondation Père Sablon 16,000Montreal Canadians Children’s Foundation 16,000Montreal B’nai Brith Food Baskets Inc 15,800Shriners Hospitals for Children 15,700McGill University Health Centre Foundation 12,800AMI-Quebec Action on Mental Illness 12,300Urban Pardes 12,000Project Genesis 11,400BMP Foundation 11,000Multiple Sclerosis Society of Canada Quebec Division 10,800Inner City Summer Day Camp 10,000Terry Fox Foundation 10,000Hatzoloh Rescue Squad of Montreal 9,400Cedars Cancer Institute at the McGill University Health Centre 9,300Crohn’s & Colitis Foundation of Canada 6,700Mount Sinai Hospital Foundation of Toronto 6,700Alzheimer Society of Montreal 6,500Défi Corporatif Canderel 6,200L.O.V.E. Leave Out Violence 6,100Cyclo nord Sud 6,000Montreal Oral School for the Deaf Inc 5,600Argyle Institute of Human Relations 5,500Société de Saint Vincent de Paul de Montréal 5,500Leukemia & Lymphoma Society of Canada 5,500Mount Sinai Hospital Auxiliary 5,400Fondation C.E.D. Inc 5,000Fondation Réhabilitation Centre Ubald-Villeneuve 5,000Hospital for Sick Kids Foundation 5,000Kaiser Foundation 5,000

CuLTuRE & EDuCATION

Segal Centre for Performing Arts 784,400McGill University 352,400Université de Montréal 189,600JPPS-Bialik 165,500Fondation de l’Université du Québec à Rimouski 150,600Bronfman Jewish Education Centre 140,900Lower Canada College 120,500Selwyn House School 106,800Scholarships 100,700Governors of St. Francis Xavier University 100,000The Akiva School 96,800Canadian Society for the Weizmann Institute of Science 96,100Concordia University 81,100Trinity College School Foundation 81,000Hebrew Academy 74,500Thomas More Institute 60,400Fondation du Festival des Films du Monde 60,000Cinémania 56,000Chaya Mushka Seminary – Ben Weider Education Centre 50,700Fondation HEC Montréal 50,000Jewish Public Library 45,300

Solomon Schechter Academy 44,300Klez Kanada 42,500Beth Jacob Seminary 41,100Free Hebrew for Juniors 32,900La Fondation de la Tolérance 28,700Jewish Education Program 28,200Canadian Institute for Jewish Research 23,400Rabbinical College of Canada 23,300Les Grands Ballets Canadiens de Montréal 22,000The Study School Foundation 20,200English Montreal School Board (EMSB) 20,000OISE/UT 20,000B’nai Brith Hillel Foundation of Montreal Inc. 16,900Beth Jacob School 15,200HEC Montréal 15,000University of Western Ontario 15,000Opéra de Montréal 14,500Montreal Symphony Orchestra 13,800Bais Yaakov Elementary School 13,200Beth Rivkah Academy 12,700St. George’s School of Montreal 12,600The Montreal Museum of Fine Arts 11,300Jerusalem Foundation of Canada Inc. 10,500Canadian Zionist Cultural Association 10,100Canadian Vocal Arts Institute – University of Montreal 10,000La Fondation de L’Ecole Buissonniere Inc 10,000Summit School Foundation 9,800Torah Fax 9,200United Talmud Torahs of Montreal 8,500Les Ballets Jazz de Montréal 7,700Fondation de l’Université du Québec à Montréal 6,800Rabbinical College of Quebec 6,800Montreal Symphony Orchestra Foundation 6,500Loyola High School Foundation 6,500Lakefield College School Foundation 6,000Keren Aryeh Leib & Chana Education and Scholarship Fund 5,000

RELIGIOuS INSTITuTIONS

Va’ad Mishmeres Mitzvos 423,700Congregation Shaar Hashomayim 210,200Congregation Dorshei Emet / Reconstructionist Synagogue 91,200Congregation Shaare Zion 64,100Montreal Community Mikvah 60,000Montreal Torah Centre 59,100Congregation Chevra Kadisha B’nai Jacob Beit Hazikaron 36,500Congregation Tifereth Beth David Jerusalem 36,500Kollel Torah Mitzion 36,500Spanish & Portuguese Synagogue 36,300Beth Zion Congregation 31,200Temple Emanu-el Beth Sholom 27,800Congregation Shaare Zedek 27,300Yeshivat Aish HaTorah – College of Jewish Studies 25,900Adath Israel Poale Zedek Anshei Ozeroff Congregation 24,700Montreal Community Kollel 19,600Congregation Beth Ora 18,300Or Menachem Synagogue 16,000Chasdei Levy Yitzcok 15,000Congregation Beth-El 13,900Congregation Or Hahayim 12,800

Yeshivat Yesodei Hatora 12,600Yeshiva Gedola Merkaz Hatorah 12,200Congregation Beth Tikvah 12,000Kupas Hachesed Meoroth 11,000First Mesifta of Canada 10,500Beth Israel Beth Aaron Congregation 9,400Jewish Experience 8,300Congregation nahar Chalom de Hampstead 8,700Kollel Avrechim du Centre Chouva Israel 8,700Académie Taryag D’Arizal 8,500Chasdei Tovim Meoros 8,500House of Israel Congregation 8,100noam Jewish Center 7,900Congregation Toldos Yakov Yosef 7,100Yeshiva Skver Montreal (YSM) 6,000Congregation Shomrim Laboker 5,800Kolel of Congregation Chaside Belz Umachzike Hadasz 5,200Holy Blossom Temple Foundation 5,000Jewish Unity Partnership Inc. 5,000

ISRAEL/OVERSEAS

Canadian Friends of Mishon La’Choleh 250,000ORT Canada 189,600Israel Cancer Research Fund 115,200Can Serve Foundation 75,800Jewish national Fund of Canada 70,500Canadian Magen David Adom for Israel 57,600Canadian Friends of Yeshiva University 43,500Canadian Associates of Ben Gurion University of the negev 38,200Aid to Disabled Veterans of Israel Beit Halochem (Canada) 27,400Hadassah-WIZO of Montreal 24,500Canadian Friends of Hebrew University 23,400new Israel Fund of Canada 14,200Canadian Friends of Bar Ilan University 10,500Canadian Friends of Shalva Israel Association 10,000Ezras Cholim 10,000ICEJ Canada Aid & Development 10,000na’amat Canada 9,800Canadian Friends of Jaffa Institute 6,800Enablis Foundation Canada 6,000Canadian Friends of Hartman 5,500Canadian Friends of the World Union for Progressive Judaism 5,500Canadian Red Cross 5,300

MISCELLANEOuS 2,344,500

TOTAL $23,014,900

ALLOCATIONS SuMMARY

Grants from undesignated funds $819,800 Grants from designated and philanthropic funds 23,014,900

TOTAL ALLOCATIONS $23,834,700

2012 allocations

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JCF Leadership Institute

The ChangeLeaders program, which brought lay and professional leaders together to learn for the first time, completed its first cycle. The response to the program was very positive. Participants are taking on active change agent roles in community, as well as personally and professionally.

Connecting through culture

A total of almost $200,000 was granted to 10 programs in 2012. All were chosen for their commitment to providing new and original ways to connect culturally with the Jewish community. Among them:

LE MOOD provides year-round opportunities for young adults of different voices to give or attend sessions in a variety of formats such as lectures, hands-on workshops, text-study, film, meditation, discussions, panels, exhibits, cooking and performances, including music, theatre and dance.

Awesome Sauce is a three-day gathering bringing together 50 of the most innovative, entrepreneurial, artistic and visionary Jewish young adults from around the world to Montreal. This group will completely reimagine Jewish gatherings, ceremonies, holidays, dating and spirituality through the lens of new media.

Green Kippah Collective is a sprouting diverse community of creative people (business and social entrepreneurs, movers and shakers, inventors, artists and recent graduates) interested in trans-formative, innovative and cultural experiences. The emphasis is on connecting Jews to their culture and heritage by exploring our collective relationship to agriculture, food and the environment.By creating the first urban garden in the heart of the Montreal Jewish community, the mission fosters opportunities to reconnect with the processes of working the land and growing food to feed disadvantaged members of the community.

The Shaping Our Future initiative is creating new ways to plan and prepare for the challenges of the future through leadership development, institutional strengthening and cultural grants that connect communities.

shaping our future

Le Mood 2011

Institutional Strengthening

Launched by Federation CJA this year under the “GEN J” umbrella and in partnership with the Foundation, The Generations Fund is an endowment fund aimed at ensuring a strong and vibrant Jewish community in Montreal through identity-building initiatives. The Generations Fund for Educational Excellence, the first part of the fund to launch this year, will support middle-income families with a tuition reduction, so that they will be better positioned to choose a Jewish day school education for their children.

Camps GEN J expanded its commitment to strengthen Montreal Jewish overnight camps and capacity building by working with lay and professional leadership. Board development workshops centred on governance and best practices, while intensive consultation with the Foundation for Jewish Camps, a strategic partner, is ongoing.

Synagogues GEN J continued its Tools for Shuls program, which engages professional, spiritual and lay leaders from synagogues throughout the greater Montreal area in data-driven growth and decision making.

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For the year ending March 31, 2012 we are reporting a loss of 0.12% on the Jewish Community Foundation (“JCF”) of Montreal’s pooled fund. This is in contrast to last year’s 8.39% return and leaves the fund with a 2-year return of 4.05%. Over a 3-year period the return is 7.87% which is 1.5% above our policy benchmark.

This performance is directly related to the investment policies and strategies of the committee – primarily to use a fund of fund investment approach, to diversify the pool into an array of asset classes and to hedge in-vestment strategies to mitigate risk against significant losses. This will be further explained below.

During the last fiscal, year market action was dominated by the financial and economic situation of Europe and concerns over a slowdown in the Chinese economy. Equity markets were mixed and volatile during the period with the S&P rising 8.54%, while the MSCI and the S&P/TSX composite fell 0.19% and 9.76% respectively.

Asset Allocation Performances

Equities Over the long term, equity holdings are generally expected to generate returns superior to those of less risky assets such as bonds and cash. Within the JCF’s equity allocation are both marketable (traded on public exchanges and highly liquid) and non-market-able (private partnerships, not publicly traded and less liquid) holdings. Included among the marketable holdings are U.S., Canadian and foreign equities. Among the non-marketable holdings are positions in private equity and distressed debt.

This category makes up 40% of the fund and includes traditional market equities (Canadian, US and for-eign), private equity, and distressed debt.

Our Canadian equity allocation’s (10%) fund of fund manager (“fof”), SEI, reported a 12.73% loss this year against the benchmark -9.76% (S&P/TSX Composite).We have moved this allocation from SEI to a States-treet Composite Index Fund.

Our US, International, and Emerging Markets Funds, managed by Commonfund, reported a 3.68 % loss against a benchmark of -.19%. (30% allocation). Subsequent to end of year, over half the interna-tional portfolio was moved to a more passive indexed strategy.

Our Private Equity and distressed debt fofs reported a 7.73% aggregate return. These “illiquids” continue to contribute positively to the total performance of the pool.

Real Assets Real asset investments provide attractive return pros-pects, portfolio diversification, and a hedge against unanticipated inflation. This category of investment

is typically less liquid than publicly traded securities. JCF includes real estate and natural resources in its allocation to real assets.

10% of our assets are placed in this asset class and returned 11.64%

Hedge Funds Hedge funds provide portfolio diversification, seeking to generate high long-term real returns by exploiting market inefficiencies. Unlike traditional marketable securities, hedge funds have historically provided returns largely independent of overall market moves.

30% of our portfolio is placed in hedge fund FOFs which lost 6.64% against a benchmark of -3.42%. Our hedge fund allocation has suffered as “stock pickers” have lagged behind the market as a whole and mar-ket correlations have been above historical norms. For diversification purposes, we have moved 50% of our allocation from Commonfund to HSBC.

Fixed Income Fixed income assets generate stable flows of income, providing greater certainty of nominal cash flow than other asset classes. They have the lowest histori-cal and expected returns of the asset classes included in the JCF’s portfolio.

20% of the pool is placed in fixed income. Over 70% of the fund is run by State Street in a Canadian Fixed Income Index Fund, with the balance basically invested in Israeli Bonds which the pool has traditionally held. The net return on fixed income was 8.02%. This re-turn was driven by a further decline in interest rates last year.

Currency and Currency Hedging The returns described above are described in the currency of the fund. As about 70% of the pool is in-vested in $US, currency fluctuations have an impact on the final returns described in $CDN. The fund uses a dynamic hedging formula with the aim of signifi-cantly reducing the foreign currency risk.

This past year the Canadian dollar appreciated against the US greenback. The exchange rate moved from 0.97 to 0.99 which increased the value of our US investments by 2.7%.

However the Investment committee hedges currency fluctuations. The hedging this year resulted in a cur-rency loss of 1.6%. On a net basis currency increased the overall return by 0.4%.

Conclusion

The market remains an uncertain and volatile. Inter-est rates are at record low levels. The Investment Committee will maintain its policies of diversification and hedging.

investment committee report

16

As at March 31 2012 2011 2010 2009 2008 $ $ $ $ $

ASSETS

Cash 6,704,189 5,422,439 3,197,637 4,151,206 1,028,310 Sundry receivables 1,450,222 1,415,417 2,434,090 1,447,404 1,396,381Balance of sale - - - - 800,000Investments 294,193,620 264,480,563 231,546,531 195,933,534 260,274,775Investments in private Canadian companies 14,536,932 14,376,096 15,251,904 19,609,181 24,539,509Capital assets 728,714 724,314 777,588 445,249 445,249 317,613,677 286,418,829 253,207,750 221,586,574 288,484,224

LIABILITIES AND NET ASSETS

LIABILITIES

Grants and accounts payable 168,411 123,435 211,406 615,574 525,859Trust funds payable 85,659,807 97,951,370 86,621,632 73,673,317 96,843,808

85,828,218 98,074,805 86,833,038 74,288,891 97,369,667

NET ASSETS

Restricted for endowment purposes 206,663,565 164,829,861 144,066,891 129,495,546 167,467,910Unrestricted 25,121,894 23,514,163 22,307,821 17,802,137 23,646,647

231,785,459 188,344,024 166,374,712 147,297,683 191,114,557

317,613,677 286,418,829 253,207,750 221,586,574 288,484,224

balance sheetfinancial summary

17

16.2

-21.5 0.8

10.2

2010

2009

2008 2007 2006

10.88.4

20112012

-.1

statement of operationsand changes in net assets

Year ended March 31 RESTRICTED uNRESTRICTED TRuST FuNDS TOTAL FuND TOTAL FuND FuNDS FuNDS SuBTOTAL PAYABLE BALANCE BALANCE 2012 2011 $ $ $ $ $ $

CONTRIBuTIONS AND REVENuES

Endowment and other contributions 63,996,619 1,791,119 65,787,738 - 65,787,738 39,632,563 Administration fees - 908,302 908,302 - 908,302 865,793Investment income (loss) 2,466,482 (125,639) 2,340,843 864,198 3,205,041 20,254,695

66,463,101 2,573,782 69,036,883 864,198 69,901,081 60,753,051

Trust fund additions - 8,312,419 8,312,419 10,443,706

66,463,101 2,573,782 69,036,883 9,176,617 78,213,500 71,196,757

DISTRIBuTIONS AND ExPENSES

Grants paid 23,014,940 819,798 23,834,738 - 23,834,738 27,425,876 Administration fees 570,880 83,214 654,094 254,208 908,302 865,793Overhead and other expenses 1,985,874 891,543 2,877,417 3,687 2,881,104 2,719,173

25,571,694 1,794,555 27,366,249 257,895 27,624,144 31,010,842

Trust fund drawings 19,439,484 19,439,484 6,886,865

25,571,694 1,794,555 27,366,249 19,697,379 47,063,628 37,897,707

Change in the year 40,891,407 779,227 41,670,634 (10,520,762) 31,149,872 33,299,050Interfund transfers 942,297 828,504 1,770,801 (1,770,801) - -

41,833,704 1,607,731 43,441,435 (12,291,563) 31,149,872 33,299,050

Net assets, beginning of year 164,829,861 23,514,163 188,344,024 97,951,370 286,295,394 252,996,344

Net assets, end of year 206,663,565 25,121,894 231,785,459 85,659,807 317,445,266 286,295,394

INVESTMENT PERFORMANCE

RETuRN OF POOL BY YEAR (%)

GROWTH IN TOTAL ASSETS

201020112012

350 M

300 M

250 M

200 M

150 M

100 M

50 M

0

Arthur Milly Boris Manny Sheila Stanley Marvin Michael Ingie Alex Marlene Henry Robert Harry Gordy Marjorie Barry Bobby Joel Yoine Micky Irving Aaron Harvey Sheila & Victor Dodo Herby Alvin Barbara David Brenda Monty Gordon Oskar... Thérèse Etty Peter Todd Martin Armand Susan Sam Miriam Lawrence Ian Kathy Annette Phil Gideon Steven Irwin Francine Talia Lauren Alyssa Jamie Adam Matthew Victoria Katherine Norman Stephen Charles Edward Donna Rhonda Rhoda Murray...

16

1 Cummings Square, Montreal, Québec H3W 1M6 514 735-3541 Fax 514 345-6410 www. jcfmontreal.org

BOARD AND STAFF 2011-2012

FOuNDING PRESIDENT

Arthur Pascal C.M. z”l

HONOuRARY PRESIDENTS

L. Michael BlumensteinBarry Clamen FCAMarvin Corber C.M., FCASenator Yoine Goldstein Stanley Hyman, z”lMildred Lande C.M. z”lHarvey LevensonBoris G. Levine C.M., FCA, z”lJoel RabyRobert RaichOscar Respitz Q.C. Gordon Schwartz z”lRobert VinebergSheila Zittrer

Proud Member

OFFICERS

IMMEDIATE PAST PRESIDENT

Barry Pascal

PRESIDENT

Joel Segal

VICE-PRESIDENT

Brenda Gewurz

SECRETARY

Barbara novek

TREASuRER

Michael Etinson

BOARD OF DIRECTORS

Thérèse Attias Howard Berish FCA Etty BienstockMichael Frankel CAPeter JacobsIan KarperArmand KessousKathy LempertSusan LevinePhilip nadler CASam OlielGideon PollackMiriam RolandSteven SitcoffTodd SoneIrwin TaubenRichard Vineberg FCAFrancine WisemanLawrence Young

40TH ANNIVERSARY COMMITTEE

Sheila Zittrer, ChairAnnette AmarThérèse AttiasEtty Bienstock

Brenda GewurzKathy LempertSam Oliel

CHAIRS OF COMMITTEES

ALLOCATIONS/VISIONING

Peter Jacobs, Todd Sone

AuDIT

norman Daitchman FCA

B’NAI TZEDEK

Francine Wiseman

INVESTEMENT

Allan Schouela

PROFESSIONAL CONSuLTANTS

Philip nadler CARhonda Rudick

MARKETING

Brenda Gewurz

SCHOLARSHIP

Allan Levitt

STAFF

ExECuTIVE DIRECTOR

Robert A. Kleinman FCA

ExECuTIVE VICE-PRESIDENT

Joel King BCL, LLB

DIRECTOR OF FINANCE

Joelle Mamane CA

DIRECTOR OF MARKETING

Marlene Gerson

ExECuTIVE DIRECTOR EMERITuS

Emanuel Weiner

ADMINISTRATIVE ASSISTANTS

Sharron Hébert, Bryna Hersh

1981

the jewish community foundation of montreal