Boaz Blumovitz was brought into the JUF: The Chicago Jewish Federation eight years ago to lead its financial, technological, investments and other functions to the next level. As the CFO, he has since been a change agent like probably never before, said his staff. “Boaz considers himself as an in-house entrepreneur, finding new and innovative ways within the framework of this large corporation.”
Founded in 1900, the JUF – The Chicago Jewish Federation – is a nonprofit social services and humanitarian organization that makes grants to affiliate agencies and other beneficiaries primarily engaged in charitable, educational, social welfare and health activities. JUF’s community is thriving, diverse and inclusive – a place where its most vulnerable members are taken care of, feel connected with a sense of belonging and Jewish institutions are supported, successful and secure.
Blumovitz hit the ground running in his role as CFO and developed and introduced an overarching financial strategy with two notions to guide many decisions – simplicity and focus. Old traditions that did not meet these two standards were discontinued and replaced with contemporary clear goals and objectives.
Among other initiatives, Blumovitz launched a digital transformation project, changed the investment management model and outsourcing the portfolio for the first time, modified the real estate model and consolidated two main entities under one roof. As a result, total debt continues to decline.
“As we move forward, our goal is to be adaptable and forward-thinking, with a workforce prepared to meet the challenges and opportunities presented by the evolving landscape of the nonprofit sector,” he said. This includes offering agile work arrangements, focusing on sustainability and social responsibility, investing in data management skills, cybersecurity training, reskilling and upskilling through in-house training programs.
According to Blumovitz, having a vision is about seeing the bigger picture and understanding how financial decisions impact the organization’s long-term goals. “This forward-thinking vision has allowed us to make sound financial decisions that align with our mission,” he said.
Fostering a leadership style that emphasizes open communication and fostering passion for the organization’s mission have contributed to the financial and operational success. “Leadership, in my view, is about guiding the financial, investment, real estate, legal and information technology teams toward a common purpose,” said Blumovitz. “I’ve fostered an environment where our teams understand the larger mission of our organization and how their roles contribute to it.”
For his commitment to foster a cohesive workforce and make an impact in the community, Blumovitz has been named a titan.
