LOS ANGELES--(BUSINESS WIRE)--The Jewish Community Foundation of Los Angeles (The Foundation), the leader in planned giving solutions for Greater Los Angeles Jewish philanthropists, today announced it has received a $3.4 million bequest from the estate of philanthropists Raymond J. and Shirley R. Kornfeld, long-time supporters of The Foundation. The charitable gift by the Kornfelds, who both passed away during the past decade, creates the Raymond and Shirley Kornfeld Endowment Fund, which will support educational and medical causes.
“The Kornfelds were both caring individuals who strongly believed in the power of education and good healthcare and chose to leave an enduring legacy for future generations,” said Foundation President and CEO Marvin I. Schotland. “We are gratified they selected The Foundation to administer their philanthropic directives. This substantial bequest underscores the confidence our donors and their professional advisors place in The Foundation as knowledgeable, responsible stewards of charitable assets.”
Raymond & Shirley Kornfeld
Raymond Kornfeld, a certified public accountant in the Los Angeles area for 60 years, was born in Montana in 1914. He earned his bachelor’s degree at the University of Montana and did graduate work at the Wharton School, University of Pennsylvania. During World War II he was a lieutenant commander in the U.S. Navy, serving in the South Pacific.
He met his wife Shirley, a Midwesterner, in the 1950s and their marriage lasted over 50 years, until Ray’s death in 2005. Although they didn’t have children of their own, the Kornfelds spent a lot of time with the children of Shirley’s niece, Barbara Seidman, and were like grandparents to them. “Ray was a remarkable man from small beginnings,” said Seidman. “He was the most open-minded person I ever knew.”
During their lifetimes, the Kornfelds supported numerous philanthropic and educational institutions, including the University of Pennsylvania, Jewish Free Loan Association, a nonsectarian program that distributes interest-free loans, and the Henry George School of Social Science in New York City, which offers tuition-free classes in economics.
Endowments Administered
The Kornfeld bequest is the newest of many endowments already established at and administered by The Foundation, including several notable permanent legacies in the past decade. Last year, well-known comedy writer Mickey Ross bequeathed more than $11 million to create the Mickey and Irene Ross Endowment, which provides the neediest Southern California residents with assistance in the basics of life: food, shelter, medical care and education.
In 2004, The Foundation received the largest single permanent gift in its history—a $14 million bequest that served as the cornerstone of the Werner and Ellen Lange Endowment Fund, designed to support initiatives and seed new projects “that will have a profound and lasting impact on the Jewish community—locally and in Israel.”
Since its creation approximately 10 years ago, The Belle and Harry Krupnick Endowment, dedicated to supporting the arts and education, has made major grants to help establish a Media Arts Center at Los Angeles Valley College; underwrite a celebration of the arts at the Skirball Cultural Center; and to support the public television series “The Jewish Americans.”
“These recent endowments fulfill their creators’ specific philanthropic wishes, while supporting causes that range from basic human needs to Jewish life, education and the arts. The common thread is boundless generosity and a desire to leave behind a perpetual testament for those who follow,” Schotland said.
About The Foundation
Established in 1954, the Jewish Community Foundation of Los Angeles is the largest manager of charitable assets and the leader in planned giving solutions for Greater Los Angeles Jewish philanthropists. The Foundation currently manages assets of $731 million (as of Dec. 31, 2010) and ranks among the 11 largest Los Angeles foundations. In 2010, The Foundation and its more than 1,000 donors distributed $52 million in grants to hundreds of organizations with programs that span the range of philanthropic giving. For more information, visit www.jewishfoundationla.org.