Slingsghot Fund (via Press Release)
December 3, 2007– A new fund, created by young Jewish philanthropists to support innovative Jewish nonprofits, has announced the recipients of its inaugural grants. Dubbed the Slingshot Fund, the group’s aim is to highlight, encourage and provide financial support to the many innovative but undercapitalized Jewish nonprofits that exist throughout North America. The Slingshot Fund is indicative of a trend among North America’s next generation of Jewish funders, who are opting to support grassroots programs directly as opposed to the more traditional approach of giving to a centralized Federation system, which allocates money to pre-selected recipient agencies. While this trend is still in its early stages, recent studies conducted by the United Jewish Committee have outlined a dramatic drop-off in Federation giving among Jews under 50. From 2001 to 2005 the combined campaigns of North America’s federations were down by 11.1%.
A driving force behind Slingshot is Sharna Goldseker, age 33, the vice president of The Andrea and Charles Bronfman Philanthropies, and director of its 21/64 division. That division was set up five years ago to consider how best to engage younger (Gen X and Gen Y) Jewish donors. An excellent article on the subject by Sharna can be found at New Jersey Jewish News Online.
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