Chabad on Campus International's Endowment Fund
The Chabad on Campus International Fund is a dedicated and permanent source of financial support for COCI and its mission of supporting the efforts of the Shluchim and Shluchos to guide and inspire students on campus on the personal Jewish journey of each individual.
Each year, a portion of the Fund determined by its board will be remitted as an annual distribution to support COCI, while any appreciation in excess of this annual distribution is retained in the endowment. As a result, the endowment can provide the financial foundation for the COC family for generations to come.
Donors can restrict their giving to support specific programs, departments, or purposes. The payout from these funds can only be spent in support of the fund’s designated purpose. Unrestricted funds are more flexible in nature and are critical in supporting structural operating expenses and transformative strategic initiatives.
Who manages COCI’s endowment?
The Chabad on Campus International VP of Finance manages all the day-to-day aspects of the endowment fund. Investment decisions, allocations, and payouts are determined by a board of directors appointed by the CEO of Chabad on Campus International.
The Fund is a limited liability company solely owned by Chabad on Campus International. This LLC is a disregarded entity for tax purposes, meaning that the IRS (and the State of New York) would ignore the LLC for tax purposes and the LLC would, therefore, be tax-exempt automatically because of COCI’s tax exemption. This limited liability company has its own board of managers (directors) separate and apart from the COCI board. The LLC is an entirely separate entity for “corporate” purposes and has its own financial assets and financial reports.
Who is on the Board of Directors?
Dr. Howard Morgan, Chair
Rabbi Yossy Gordon
Rabbi Eitan Webb