Subscribe to The Jewish Standard free weekly newsletter

 
font size: +
 

Madoff scandal rocks Jewish philanthropic world

Area foundations take stock — or lose it

 
|| Tell-a-Friend || Print
 
 

A handful of local foundations appear to be unscathed by the fallout from Bernard Madoff’s alleged Ponzi scheme, but the full effects on donors have yet to be realized.

While the country’s economic downturn has taken place over the course of several months, this single instance was sudden and provided no time for those affected to make changes to limit the damage. Mark Charendoff of Englewood, president of the Jewish Funders Network, called the fallout on his organization’s members “absolutely devastating.”

“In a way, this is worse than the general economic downturn,” he said.

Unlike the unrest in the stock markets that has rocked the nonprofit donor base recently, the fallout from this scam is irreversible and, in some cases, complete.

“People understand that as much as the market went down, the market will go up. That’s not the case here,” Charendoff said. “There are some people who’ve just had all their money all in this one ‘safe place.’ That’s something that they just can’t recover from.”

One of the most notably hit organizations in New Jersey is the family foundation of Sen. Frank Lautenberg, reportedly one of the wealthiest members of Congress.

“Sen. Lautenberg was an investor in Bernard Madoff’s investment fund, primarily in the form of his family’s charitable foundation,” said Lautenberg’s spokesman, Scott Mulhauser.

According to a 2006 tax document obtained through the nonprofit tracking Website Guidestar.org, the foundation was a donor to more than two dozen Jewish and Israeli causes. Its contributions for 2006 totaled $765,509 to more than 100 organizations, including American Friends of Magen Dovid Adom, American Friends of Israel, the Anti-Defamation League, Chai Lifeline, Hadassah, UJA MetroWest, and UJA Federation of Northern New Jersey.

UJA-NNJ issued a statement on Tuesday that it has no connection with Madoff and remains unaffected.

“UJA Federation of Northern New Jersey and its Endowment Foundation did not have a relationship with Madoff, and we have confirmed with SEI, our investment manager, that no portion of the Endowment Foundation’s portfolio is invested with Madoff,” according to the statement.

Similarly, the Teaneck-based Russell Berrie Foundation had “zero exposure with Madoff,” said its president, Angelica Berrie. While the rest of the financial world takes a hit, Berrie looked at the situation as an opportunity for those who still have the means to make up for charities’ losses.

“The real emergency in the next few years is going to be the emergency in our community,” she said. “We have the opportunity to exercise our humanistic values.”

This new crisis within the fund-raising world will last years, too, said Charendoff.

“We don’t know how many years and we don’t know how severe it will be,” he said. “There are charities that are going to be affected that won’t even know about it for a year.”

While some organizations have no connection with Madoff and seemingly have been spared, they cannot yet account for all of their donors. For example, he said, a charity that received a six-figure gift from a donor this December may expect and plan for a similar gift next year.

“Next December is going to roll around and they’re going to find out the donor doesn’t have the capacity to make the gift,” he said.

The Jewish nonprofit world will eventually recover, though, he said.

“The only way we’re going to be able to minimize the damage to the charities we all care about is to work together to figure out what the needs really are — to figure out which programs can be salvaged, postponed, which organizations should merge,” he said. “We can’t avoid the damage but it is in our power to minimize it.”

 

More on: Madoff scandal rocks Jewish philanthropic world

 
 
 

‘Golden Boy’ Merkin charged with misleading Jewish investors, groups

Bernard Madoff is not the only trustee of Yeshiva University who resigned in shame last week.

While international attention continues to focus on Madoff, who faces charges for his alleged $50 billion Ponzi scheme, some leaders in the Jewish community, particularly within modern Orthodox institutions, are expressing shock and anger at the role played by J. Ezra Merkin, a prominent investment guru and philanthropist who appears to have misled at least some investors.

 
 

Massachusetts community reeling from foundation collapse

The news sifted through the Jewish community north of Boston, sparking shock, sadness, and regret.

The Robert I. Lappin Charitable Foundation, a pillar of the North Shore community and a supporter of popular programming like the Youth to Israel program, joined the mounting list of Jewish casualties of the still-unfolding Bernard Madoff financial scam.

 
 

The securities fraud of Bernard Madoff has rocked the Jewish nonprofit world — and the worst may be yet to come.

 
 
 
|| Tell-a-Friend || Print
 
 

Stay tuned for the return of comments

 

A love story

Cory Booker talks about growing up in Harrington Park, falling in love with Judaism

Often it’s easy to pick out a non-Jewish candidate trawling for Jewish votes.

He’ll show up at a shul wearing a fancy crocheted kippah with his name spelled out along the edge; it’ll be pinned to cover the bald spot precisely. (Really, if you’re going to wear one, you might as well benefit from it, right?)

He’ll throw out Yiddishisms with abandon — mishuganeh here, mensch there, oy, oy everywhere. He’ll talk about getting a bagel with a schmear. (Do you know any Jew who has ever eaten one of those? Me neither.)

In order to show his deep, lifelong sense of connection to the Jewish community, he’ll pander so hard it must make his teeth hurt.

But if you are looking for an actual Judeophile, a non-Jew whose connection to the Jewish world is longstanding, emotional, spiritual, intellectual, and clearly real, you would have to direct your gaze in another direction.

 

From the Union to the Union

Rabbi Daniel Freelander of Ridgewood moves from one Reform institution to head another

Rabbi Daniel Freelander of Ridgewood is an avuncular, charming, modest man. To talk to him is to feel entirely at ease.

And then you realize that you are talking to someone who has been instrumental in the development of liberal Judaism — in both the way it looks and operates, and even more profoundly in the way it sounds.

Rabbi Freelander, 62, is leaving his comfortable berth as senior vice president at the Union for Reform Judaism — the organization for which he has worked in various capacities for 39 years — to become president of the World Union for Progressive Judaism. In some ways the move is minor — the two organizations share a floor in a midtown Manhattan office building, and Rabbi Freelander is keeping his office. But in other ways it is huge — his responsibilities go from national to international, and from the Reform movement to the larger liberal world, of which Reform Judaism is a significant — but not the only — stream.

 

‘Stop at the Red Apple’

Founder’s daughter talks about her childhood at the Route 17 landmark

It’s one of those absolute generational and geographic divides.

If you are from somewhere other than here, or if you are below, say, 40 or so, the Red Apple Rest means nothing to you.

But if you are from here, defined very broadly, and if you are at least nudging middle age, then even if you never actually went there, your memory will conjure up images of that iconic place. It was what? A diner, sort of, or more accurately a cafeteria, a rest stop on the way up to the mountains. (And if you have to ask which mountains, then never mind. It’s the Catskills, dear. Now go and play while we grown-ups talk…)

The Red Apple Rest — the never-closed oasis that drew motorists off the macadamed hell that was Route 17 as they made their almost endless way to their vacations or summer bungalows — was created by Reuben Freed, who made it his life and loved it dearly. Elaine Freed Lindenblatt, 72, who lives in Tappan, N.Y. and is the youngest of Mr. Freed’s four children, has written a memoir, “Stop at the Red Apple,” chronicling the family’s life there. Its publisher, SUNY Press, will release the book in January.

 

RECENTLYADDED

Art versus life

Tenafly JCC to host work of mid-century Jewish artist

Stories about starving artists, creative souls driven to make art no matter what it does to them or to their families, are among our culture’s most basic tropes.

They can be tragic — the ballerina dancing to death in her red shoes, the writer starving in his garret — but they somehow end well, if posthumously, with the artist finally recognized for his or her genius.

It’s not impossible that this scenario will play itself out for the artist Jack Goresko, who certainly has the first part of it nailed. That’s the part where he had to live a tortured life, compelled to make art, driven to make art, ignoring his family and getting by on scraps, and dying, in 1991, largely unrecognized.

Now, though, his son, Eben Goresko, has gathered, restored, and begun to show his work. Jack Goresko’s paintings and sketches will be on display at the Kaplen JCC on the Palisades in Tenafly from November 2 to November 23. (The show will open with a reception on Sunday, November 2, from 1 to 3.)

 

The father of Jewish Home Family retires

Charles Berkowitz, visionary creator of compassionate services for the elderly, looks back

In 1970, when Charles P. Berkowitz of Glen Rock became assistant administrator at the Jewish Home and Rehabilitation Center in Jersey City, President Nixon was sending troops to Cambodia, antiwar riots were roiling college campuses, and the New York Marathon was making its debut.

Chuck Berkowitz, just 29 at the time, already had a vision far beyond that decade. He anticipated and implemented forward-thinking approaches to elder care that have earned him many awards and approbations in the past 44 years.

At the Jewish Home’s annual gala dinner last Sunday at the Rockleigh Country Club, he was feted upon his retirement as president and CEO of the Jewish Home Family, a position he held since June 2009. He became CEO of the Jersey City site in 1982. The facility, founded in 1915 as the Hebrew Orphans Home of Hudson County, moved to Rockleigh in 2001 as Hudson’s Jewish population declined.

 

Retelling Genesis

Okay. Let’s start with full disclosure.

I’ve never met Barry Louis Polisar, so it’s nothing personal. But his music for children — he says now that he’s been told that he’s a pioneer in the “kindie” movement (that’s indie music for kids) — was a huge part of our lives, back when my kids and the world and I were young.

Mr. Polisar is based in Maryland, but he sometimes played here; he’d do the occasional early-Sunday-morning live show at WFDU, at Fairleigh Dickinson University in Teaneck, and we’d all go to see him. We first heard about him on Kids America, an extraordinary (and therefore short-lived) children’s public radio show aired on WNYC, where such classics as “I’ve Got A Teacher, She’s So Mean” and “I Lost My Pants” and “Don’t Eat the Food That Is Sitting on Your Plate” were in heavy rotation.

 
 
S M T W T F S
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31