Day Schools See Endowment Successes
By THE ASSOCIATED
Baltimore, MD - June 2103 - For area day schools trying to create an endowment program, it has been an extremely successful year. Since September, when they officially began fundraising for the Russel Family Generations Day School Endowment Project, the six participating school have raised approximately $4 million. That represents close to one-third of the $14 million to be raised at the conclusion of the three-year project.
“We are thrilled with the progress we’ve made,” says Doni Greenwald, who sits on the Russel Family Generations Day School Endowment Project committee at the Talmudical Academy of Baltimore. “We have a great community.”
In addition to TA, participating schools include Bnos Yisroel of Baltimore, Torah Institute, Talmudical Academy of Baltimore and Bais Yaakov School for Girls. By the fall, these schools are expected to raise $2,000 per enrolled student.
The Russel Family Generations Day School Endowment Project is designed to help these schools achieve long-term financial stability and provide money to fund scholarships. The program is funded through a gift from Baltimore’s Russel family and a partnership between PEJE (Partnership for Excellence in Jewish Education), AVI CHAI Foundation and THE ASSOCIATED: Jewish Community Federation of Baltimore. The Associated is also providing consultation.
According to Greenwald, the project will ensure that the schools will be in a better economic position for the future. “When a school is in a better economic position, it can focus on its mission – better education for its children,” he says.
“We have unlimited needs but limited resources,” adds Ari Krupp, TA’s Chairman of the Board. “We are confident that this project will help us meet our long-term needs.”
In addition to helping establish endowments, the program also is helping these schools put in place the fundraising and development operations, as well as the governance, to support strong schools and quality education.
“It’s been wonderful watching what the schools are capable of doing when given the tools and training,” says Jill Goldenberg, PEJE’s Strategy Manager for Endowment and Legacy. “The schools have made tremendous leaps forward and we see very constructive changes in the culture of philanthropy at many of the Orthodox schools.”
She adds that the schools are on track to meet the fall benchmark.