The American Jewish Congress, one of the oldest and historically
organizations of the Jewish-American establishment, has temporarily
its activities due to financial constraints.
Richard Gordon, president of
the AJCongress told The Jerusalem Post that the organization has
out of funding.RELATED:
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“We have the money in the bank, but can’t get to it due
to our constitution,” Gordon said.
“We expect to be able to access the
account within a few weeks.”
Although an official statement announcing
the cessation of the AJCongress has yet to be made, the decision was confirmed
by sources that spoke on condition of anonymity, as well as by an automated
e-mail response from one of the organization’s senior officials.
July 15, 2010, AJCongress has suspended most of its operations,” read the e-mail
sent by AJCongress’s Matthew Horn in response to an inquiry. “It has been a
great pleasure and honor working with you during my nearly five-year tenure with
AJCongress, both as its policy director and for the past two years as its
Rumors surrounding the imminent demise of the
nearinsolvent AJCongress have been circulating since shortly after news broke
that it had lost a large sum in an investment in the Bernie Madoff Ponzi
scheme.Reports group lost up to 90% of its endowment
Last April, the Post reported that the group may have lost as
much as 90 percent of its roughly $24 million endowment, and that it lacked a
large membership and donor base.
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.
Throughout its 92-year history, the American
Jewish Congress has had a huge impact on the Jewish-American
Under the leadership of its founder, the influential Rabbi Stephen S.
the support of notable jurists Felix Frankfurter and Supreme Court
Brandeis, the AJCongress was an early and strong supporter of human
Zionism and other matters important to the Jewish community in North
Ironically, it was originally formed as an alternative to the
American Jewish Committee, which is now rescuing it from insolvency.
are talking to the American Jewish Committee constantly,” said
“Where it will lead, I don’t know.”