NEWS: LOCAL

In good times and bad, Jewish Day Schools get support they can count on

Despite the financial challenges of the times, Chicago-area Jewish day schools are once again getting major support from a source they’ve learned to count on. 

Sixteen schools will share $1,461,696 this year from the Jewish Federation of Metropolitan Chicago’s innovative Jewish Day School Guaranty Trust Fund. 

The Fund, a permanent endowment that provides support to the schools each year, now has distributed more than $7.6 million to enhance day school education in the Chicago area. 

That money is in addition to the Federation’s $3 million annual allocation to the schools, and other support, ranging from more than $23 million in loan guarantees for capital projects to services as varied as special education, health initiatives, security grants and finance administration. 

“The Day School Trust Fund started as a groundbreaking effort to guarantee that our day schools would have a perpetual source of funds they could count on regardless of economic or other concerns,” said JUF/JF President Steven B. Nasatir. “The last few years have indelibly proven the worth of that promise. The Fund is a model that can and should be duplicated in communities all over the country.” 

The Trust Fund’s success is the result of groundbreaking cooperation between the Jewish Federation and schools serving students from every branch of Judaism. Out of that grew an innovative funding mechanism that allows the schools to meet critical immediate financial needs while growing an endowment that assures long-term support. 

Fund distributions, which are based on enrollment, go to Akiba-Schechter Jewish Day School; Arie Crown Hebrew Day School; Bais Yaakov Girls High School; Chicago Jewish Day School; Chicagoland Jewish High School; Fasman Yeshiva High School (HTC); Hannah Sacks Bais Yaakov Girls High School; Hillel Torah North Suburban Day School; Ida Crown Jewish Academy; Joan Dachs Bais Yaakov/Yeshivas Tiferes Tzvi; Keshet Day School; Seymour J. Abrams Cheder Lubavitch Hebrew Day School; Lubavitch Girls High School; Solomon Schechter Day School; Telshe Yeshiva High School Program; and Yeshiva Ohr Baruch-The Veitzener Cheder.  

Gifts to the Trust Fund, part of the Federation’s Centennial Campaign, are over and above the donors’ annual gifts to the Jewish United Fund Annual Campaign and to the individual schools. 

For details on the program, contact the Federation’s Legacies and Endowments Department at (312) 357-4853 or legacy@juf.org. 

Joel Schatz is the assistant director of Communications of the Jewish United Fund/Jewish Federation of Metropolitan Chicago. 

  

Posted: 6/21/2011 4:18:40 PM
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