The Israeli nonprofit community is shell-shocked this morning as the fallout continues from Madoff’s alleged scam. Yesterday, The Chais Family Foundation, established in 1985, announced it is closing its doors. Dedicated to the advancement of Educational Excellence in Israel and the deepening of Jewish Identity throughout the world, both the UJC and The Joint are two of the largest recipients of their funding. A host of smaller nonprofits also have commitments for 2009 that have now vanished into thin air.
A list of their grantees can be found here.**
Our post from yesterday has an ever-growing list of the hit being taken in the world of Jewish philanthropy.
update: this from JAFI following the announced closure of Chasis –
“The Jewish Agency is closely following the Madoff affair. It is still too early to reach any conclusions as to its effect on the Jewish Agency.”
**update: The Chais Family Foundation has apparently taken this page down from their site. You can find a similar list of projects previously funded by CFF on our post, A Watershed Moment.