|
|
December 31, 2004/Tevet 19 5765, Vol. 57, No. 18
Matching-grant program raises millions for Jewish education
RACHEL POMERANCE
Jewish Telegraphic Agency
NEW YORK - In the world of Jewish philanthropy, Joshua Landes, 42, was no lightweight.
But it wasn't until the Manhattan money manager heard of an unusual matching-grant opportunity that he chose to greatly increase his charitable giving.
Due to a landmark matching-grant program for Jewish educational institutions, Landes and some 85 others chose this year to make their first large donations, ranging from $25,000 to $250,000, or to increase their largest previous gift by at least 500 percent.
The program gives a needed boost to Jewish education.
Unlike most matching-grant programs, this one, created by the Avi Chai Foundation and the Jewish Funders Network, allowed the donor to choose the beneficiary, and provided matching grants of up to $50,000.
Interest far exceeded the expectations of the program, which was announced last spring by Avi Chai, one of the largest Jewish foundations, with assets of $500 million, and the Jewish Funders Network, an association of more than 800 Jewish foundations and funders.
Avi Chai originally planned to provide $1 million worth of matching grants over two years. But in its first two-month application period this fall, the program drew $3.4 million worth of eligible donations.
Avi Chai matched the amount, generating $6.8 million for Jewish education.
Funds will go to synagogues, schools and summer camps in 20 states across North America. More than $2.5 million, or 75 percent of the donations, will go to Jewish day schools.
Many Jewish benefactors continue to put their financial support behind non-Jewish institutions like museums or universities.
In that context, the matching-grants program was both an experiment and a model, organizers say.
"If we're really going to create fundamental change in Jewish education in this country, it's because we're going to inspire more philanthropists to invest in some of the great ideas that are out there," said Mark Charendoff, president of the Jewish Funders Network. "The Jewish community has been unsuccessful at identifying and inspiring those philanthropists, and this was a creative approach to using the tool of leverage to capture their attention."
|
|
