A Special Interest Fund is a charitable vehicle where the total amount of the gift is invested and carefully managed to provide growth over time. Each year, a portion of the fund is distributed, usually without touching the principal. This fund is designed to last in perpetuity. These funds can be created to honor the memory of a loved one (e.g. Marty Olswanger Fund) while others can provide long-term support to very specific agencies or programs (e.g. B’nai Tzedek, David Bornblum Scholarship Fund). The number of Jewish Foundation designated funds continues to grow and each has its own special purpose, spending policy and vision.
Example: In 2019, five years after the “new” Jewish Family Service was launched as a department of the Memphis Jewish Community Center, generous local donors Avron and Wendy Fogelman stepped forward to help launch a $7.5 million endowment campaign that would benefit the critical services offered by Jewish Family Services into the future. Renamed the Wendy and Avron B. Fogelman Jewish Family Service, this important agency has provided life-sustaining services to the Memphis Jewish community for more than 150 years. The Jewish Foundation of Memphis has been the proud leader of this fundraising effort, raising more than its $7.5 million goal.
