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In what is expected to be the greatest wealth transfer in U.S. history, researchers estimate that $59 trillion will be passed down between generations over the next half-century, with $6.3 trillion gifted to charity.1 And, according to recent trends, small, family-based foundations will drive a large portion of that philanthropic giving.2
John Bussel, Principal and Regional Director at Hewins Financial Advisors, a national, CPA-based financial advisory firm, addressed this topic as a featured panelist for The Jewish Federations of North America (JFNA)’s 2015 Investment Institute, hosted at the Diplomat Resort & Spa in Hollywood, Fla. from February 8-11.
Over 450 stakeholders from Jewish federations and foundations — representing more than $20 billion in assets under management (AUM) — joined for presentations focused on trends in Jewish philanthropy, endowment management and socially responsible investing (SRI), among other topics.
Bussel, who is President of the Miami-based Shepard Broad Foundation, as well as an experienced consultant for private and family-based foundations, discussed the role these groups have in propelling charitable initiatives at the local level and serving as a resource for larger foundations with similar objectives.
“Small foundation funding is an essential driver of effective philanthropy, as a resource of risk capital to fund new ideas and a source of deep knowledge and understanding for larger funders,” says Bussel.
Since 2001, the JFNA Investment Institute has offered Jewish federation and foundation leaders, trustee members, financial service providers and endowment professionals the opportunity to learn best practices in investment and endowment management.
For more information, please visit the JFNA’s main website.