Jewish Free Loan, a provider of interest-free loans to Arizona’s Jewish residents, is transitioning to an unrestricted giving model with the establishment of its Founders Society.
“As the needs of the community evolve and change, including immediate demands created by the COVID-19 pandemic, JFL is adjusting its giving model so we can be as responsive as possible to the ever-changing needs of the community,” said Ellen Friedman Sacks, JFL’s executive director, in a press release.
As part of this transition, JFL will sunset the establishment of new Named Loan Funds. All existing Named Loan Funds, including those created by Dec. 31, 2020, will become part of the Founders Society. This society honors the individuals and families that help strengthen the foundation of JFL’s interest-free loan programs. All Named Loan Funds will continue to exist in perpetuity and donors will continue to have the ability to make contributions to these loan funds.
“As needs change within our Phoenix Jewish Community, JFL’s unrestricted giving model enables us to remain agile in serving the Jewish community,” said Laura Drachler, JFL’s vice president and chair of philanthropic initiatives, via email.
“This transition was extremely well-timed, as it ensured JFL could quickly pivot to meet the challenges recently brought on by COVID-19,” Drachler said. JN