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Jewish Foundation reports major increase in grants despite poor return on investments in 2022

By BERNIE BELLAN

July 8, 2023 Despite the negative return on investments in the Jewish Foundation of Manitoba’s investment portfolio in the 2022 fiscal year (which ended Dec. 31, 2022), the Foundation was still able to increase the total value of gifts by $1.3 million last year (from $5,785,558 in 2021 to $7,061,598 in 2022).That was one of the highlights in the latest Jewish Foundation Annual Report, which was released at the Foundation’s Annual General Meeting, held on Wednesday, June 14.

In his report, Foundation Chief Financial Officer Ian Barnes noted that “The 2022 investment return certainly did ebb in the short term. The investment portfolio returned -7.44% before fees; -7.61% net of fees. Relatively speaking, the Foundation performance was 2nd quartile, and the return comes as no surprise given the 2022 global markets. The median return was -8.37%.“While mindful of 2022 performance, the Foundation is undaunted and is pressing ahead with its longer-term objectives of providing ongoing, sustainable support and improving the experience for its constituents. Grant commitments continued their increasing trend, with the Foundation committing an additional $1.3 million over the previous year. This is a result of both an increase in the endowment fund base and an increase in the annual distribution rate. The distribution rate will continue to increase for 2023.”

Addressing the downward trend in the markets, which characterized the entire 2022 investment year, Barnes observed that “While the investment returns may ebb and flow in the short term, the Foundation will measure itself by its performance over the long term and its continued relevance to its constituents…”

Elsewhere in the financial report, the following figures were given:

• A total of $90,957,501 has been granted by the Foundation since its inception in 1964• Women’s Endowment Fund grants totaled $68,000 in 2022

• 105 kids were able to attend summer camp as a result of campership grants• 3510 Tribute cards were sent, contributing $114,832

• There were 9 new signers in the Book of Life

• 108 new funds were established

• 10 Bar/Bat Mitzvah funds were established

• 32 Jewish charitable organizations with endowment funds received $1,599,615 from those funds – which represented 25% of the Foundation’s total distribution

• $188,750 was awarded in education awards and scholarship grants to 68 different recipients

Of the $7,061,598 in grants made by the Foundation in 2022, $5,868,989 were designated grants.

Of those designated grants, $4,354,295 (74.19%) were for the Jewish community, while $4,354,295 (12.51%) were for the general community.

In the table below you can see a list of some of the grants made to Jewish organizations. We were curious as to why the amounts fluctuated so much in certain cases from 2021 to 2022.

Jewish Foundation CEO John Diamond explained that “Donor directed/advised funds are just that. Each year, those funds that are donor directed/advised, decide where to send their distribution. It is their decision to make.”

We had asked in particular about the grant made to Gray Academy, which was over $35,000 less in 2022 than 2021. Diamond explained that “this was a timing issue. The donor made 2 distributions on their commitment to a long-term gift in 2021 therefore, no gift was made in 2022.”

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First year medical student Tim Rozovsky founds new association for local Jewish medical students

By MYRON LOVE In the face of a concerning surge in antisemitism over the past nearly three years, I am happy to report a good news story in that regard.  Tim Rozovsky, the founder of the new Jewish Medical Students’ Association of Manitoba, reports that he and his fellow Jewish students enrolled in the University of Manitoba’s Max Rady College of Medicine are not experiencing any significant issues involving antisemitism.
Hopefully, the matter of the notorious Med school Valedictorian who used his podium to attack Israel was a one-off.
“My goal in forming the Jewish Medical Students’ Association of Manitoba,” says the first year medical student, “was to create a safe, supportive environment for my fellow Jewish medical students.”
He reports that the current first year class at the school has eight Jewish students – an increase over more recent years – with maybe a dozen more in the other years.
For a new medical student, Rozovsky already has an impressive resume. He was born in Russia and grew up in Israel. After the completion of his army service in 2018, the then-22-year-old rejoined his parents, Dr. Katya and Alexander, who had moved to Winnipeg a few years before.  
Prior to coming to Winnipeg, Rozovsky had completed a personal trainer program out of The Academic College at Wingate in Jerusalem. Some readers may know the young man from his work as a Master Personal Trainer at the Rady JCC.
Shortly after arriving here, he enrolled in a kinesiology program at the University of Winnipeg. He graduated with a BKin Honours in 2023 and did post graduate work at the University of Manitoba. Last fall, he received his MSc in Physiology and Pathophysiology  – earning two gold medals, along with 32 awards and scholarships in the process.
Rozovsky says that it was his mother who inspired him to pursue a career in medicine. Dr. Katya Rozovsky is an associate professor at the University of Manitoba and an attending radiologist, specializing in pediatric diagnostic imaging. 
(Tim also adds that his wife, Irina Gelzin, whom he married about a year ago, is training to be a nurse.)
Insofar as the  Jewish Medical Students’ Association of Manitoba is concerned, Rozovky reports that the group gets together multiple times a year. One of its programs was a joint Chanukah celebration with the Jewish Physicians Association of Manitoba.
There was also a joint program with the Christian Medical and Dental Students’ Association of Manitoba.
“More recently, we have been helping prospective Jewish medical students with their applications,” he says. “Hopefully we will be able to get together over the summer with the incoming Jewish students.”
As to his own future plans, Rozovsky notes that it is too early for him to be deciding on a specialty.  “My goal,” he says, “is to work hard and get good grades and become the best doctor that I can be.”

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Gray Academy to Represent Manitoba at National Reach for the Top Competition

Gray Academy staff (l-r): Daniele Miller, Lindsey Leipsic, Nick Maier

By NOAH STRAUSS Posted June 6) Gray Academy’s Reach for the Top team is headed to Moncton, New Brunswick, to represent Manitoba at the National Reach for the Top tournament.
Reach for the Top is a Canadian school league that quizzes teenagers on a variety of different topics, from science and history to pop culture. Reach started out in 1961 in Vancouver, where a local CBC station broadcasted the new show; it eventually became a national broadcast starting in 1966. Alex Trebek, who famously hosted Jeopardy!, started out by hosting Reach for the Top.
Gray Academy’s very own team, made up of Grade 7 and 8 students, will travel to Moncton, New Brunswick, to compete as Team Manitoba. By winning the provincial Reach tournament, they secured their spot in the national competition.
Faculty members at Gray Academy are very supportive of the program. The Jewish Post spoke with three different staff members at the school. Coach and high school teacher Danielle Miller says she is excited for the trip; although she will not be accompanying the team herself, shehas coached them all year.
“This year we had over 20 students come to the club to join us, they practice twice a cycle at lunch,” Miller said. Due to the large turnout this year, two teams had to be formed. At lunch practices, students split into two teams of four where each player has a buzzer. The two teams compete to see who can answer the most questions correctly.
One of the two teams did exceptionally well at various tournaments throughout the year and will be traveling to nationals as the sole team representing Manitoba.
Co-coach Micah Doerksen described Reach as a great academic competition where young minds are tested on various topics through quick,fast-paced questions.
High school guidance counselor Lindsey Leipsic said, “We have athletes, non-athletes, we have students who are really involved and students who are not as involved at school, and we have quiet leaders, and we’ve seen friendships be built in Reach.” Some of her favorite memories of Reach involve seeing students from across Winnipeg come to Gray Academy and bond with one another. Lev Chisick, who is competing at nationals, agreed, saying, “Moncton is going to strengthen our school spirit and make us a better team.”
As the junior team makes their way to Moncton, the senior team will head to provincials. Later this week, students from the senior team will travel to Virden, Manitoba, to compete at the provincial level. The team qualified after placing high enough at their most recent tournament, which took place at St. Paul’s.
Confidence is high as the school heads into these final tournaments. When Nath Goldenberg, who is also competing at nationals, was asked what he is most looking forward to, his answer was short and sweet:“Winning.”

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