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Jacobs is involved in many philanthropic efforts including those that grant educational opportunities for people from underprivileged backgrounds.<ref name="CC06"/> Because of this involvement, he has been associated with numerous organizations.
In March 2008, Jacobs was honored for his work with the [[Jewish Community Relations Council|JCRC]] and was awarded the Corporate Leader Award. He was presented with the award by his colleague, [[Fox News Channel|Fox News]] President and CEO [[Roger Ailes]].<ref>{{cite news|last=Boxer|first=Tim|title=JCRC - Doctor’s Advice To A Wife Can Be Lethal To Her Hubby|url=http://15minutesmagazine.com/archives/issue_88/pow_0806-05.htm|accessdate=15 January 2012|newspaper=15 Minutes Magazine|year=2008}}</ref><ref>{{cite news|last=Leon|first=Masha|title=CUNY Chancellor Matthew Goldstein Honored by JCRC|url=http://www.forward.com/articles/13144/|accessdate=15 January 2012|newspaper=[[The Jewish Daily Forward]]|date=11 April 2008}}</ref>
Jacobs was the honoree at the Cooke Center for Learning and Development on April 27, 2009, where he received the Cooke's Founders Award. He spoke out against discrimination directed towards people with disabilities. Jacobs has been a fervent supporter of disability awareness. He is against the misuse of the word "[[Mental retardation|retard]]" because of its offensive connotation towards people with special needs.<ref name="CC07">{{cite web|title=Cooke Board Chairman Takes Strong Stand Against Discrimination at Cooke Spring Gala|url=
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