from The Jerusalem Post:

AJC, smashed by Madoff, looks for merger

A storied 92-year-old American Jewish advocacy group is looking to save its staff and programs from termination by merging with a larger organization, over a year after losing its financial base in the Madoff swindle.

… According to its Internal Revenue Service Form 990 for 2008, its net assets dropped from $16.9m. in 2007 to $3.8m. in 2008. It has spent much of the time since the collapse trying to find a replacement financial base.

Now, The Jerusalem Post has learned, the organization is speaking to the American Jewish Committee in an effort to initiate some type of merger with the much larger advocacy group, whose 2008 Form 990 showed net assets of $117m.