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 establishment. Under the leadership of its founder, the influential Rabbi Stephen S. Wise, and the support of notable jurists Felix Frankfurter and Supreme Court Justice Louis Brandeis, the AJCongress was an early and strong supporter of human rights, Zionism and other matters important to the Jewish community in North America.Ironically, it was originally formed as an alternative to the American Jewish Committee, which is now rescuing it from insolvency.“We are talking to the American Jewish Committee constantly,” said Gordon.“Where it will lead, I don’t know.”
AJ Congress suspends activities
Organization lost most of its endowment in Madoff Ponzi scheme.
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 establishment. Under the leadership of its founder, the influential Rabbi Stephen S. Wise, and the support of notable jurists Felix Frankfurter and Supreme Court Justice Louis Brandeis, the AJCongress was an early and strong supporter of human rights, Zionism and other matters important to the Jewish community in North America.Ironically, it was originally formed as an alternative to the American Jewish Committee, which is now rescuing it from insolvency.“We are talking to the American Jewish Committee constantly,” said Gordon.“Where it will lead, I don’t know.”