Securing The Future
The Jewish Community Center hopes millions in endowments
will provide program stability.
LONNY GOLDSMITH
Staff Writer
lthough construction pro-
jects often draw a lot of
attention, Jewish
Community Center of
Metropolitan Detroit leaders are bet-
ting that what is offered inside a reno-
vated building can draw funds as well.
The JCC is raising $18 million for
capital improvements to the 23-year-
old Kahn Building in West Bloomfield
and the 42-year-old Jimmy Prentis
Morris branch in Oak Park. Those
kinds of projects are generally well
understood as necessary bricks-and-
mortar.
The more radical departure this
time around is the effort to raise $7
million that will become permanent
endowments that help underwrite the
that programs will go on," said Hugh
center's day-to-day programs.
Greenberg, chairman of the JCC
The funds will be invested by the
Campaign Committee.
United Jewish Foundation of
Some of the existing programs that
Metropolitan Detroit — the Jewish
the JCC is looking to fund include
Federation of Metropolitan Detroit's
swim teams, summer camps, the
banking/real estate arm. UJF already
library and book fair.
manages approximately $300
million, including $4 million of
existing JCC endowments.
Foundation President Robert
Slatkin said endowments will
generate 7.5 percent in interest
income a year — "presumably
through good times and bad" —
to the program that the donor
designated. That would mean an
approximately an additional
$525,000 towards future pro-
Federation Executive
JCC Campaign
gramming.
Vice President Bob
Committee Chairman
"The endowments will assure Aronson.
Hugh Greenberg.
Endowment money is figured into
the revenues that the center takes in co
during a given year. Since the money
is generally earmarked for specific pro-
grams, it goes right into that depart-
ment's budget.
It would be counterproductive for
major allocating agencies like
Federation and the United Way to
reduce funding the JCC once endow-
ments are raised, Greenberg says.
"There's no reason to want to do
that," he said. "Federation wants the
center to be successful. They'd be
pleased to have additional cushion."
In the fiscal year 1997-98 that
ended in May, program fees made up
32 percent of the budget, membership
dues 26 percent, and allocations from
Federation and United Way 25 per-
cent. Endowment income accounted
A Better Meeting Hall
Handleman family gives $1 million to renovate the major social and
performance hall at the JCC.
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LONNY GOLDSMITH
Staff Writer
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Bloomfield Hills industrial-
ist has made a $1 million
contribution to renovate,
refurbish and rename
Shiffman Hall at the Kahn Jewish
Community Center in West
Bloomfield.
Work on the Marion and David
Handleman Auditorium-Hall is sched-
uled to start this fall or winter and be
completed by next summer.
"The JCC is something my wife is
very close to," Handleman said. "She's
been a member for almost 50 years, as
well as a board member.
MEETING HALL on page 10
10/16
1998
8 Detroit Jewish News
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An artist's rendering of the Marion and David Handleman Auditorium-Hall.
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