TIGHT TIMES from page 19
Making Money Work
The need to raise funds and
maximize investment income.
roadway Star Bruce Adler
ayearell Street lilezoter
audiences with an eve-
ning's entertainment that
they not soon tor get.
His wide-ranging talent
enables him to do just
about anything it takes to
bring an audience to its
Vaudeville comedy. „gen
tle lullabys and ballads.
Born into a theatrical fam-
ily, he began pertorming
at age 3 and has contin -
ued the lamily traditions
over the years by
in shows celebrating
Yiddish culture and the-
Lori Lippitz, folk singer, was captivated she
the sound of klezmer music and in 1988
started her ovvn group named atter a
Jewish ghborhood: Maxwell Street or Max".
The group soon attracted recently x Koffman its
Russian musicians, including Ale,
first pianist, and now is arranger and violinist.
The band's unique variety involves a multitude
of talents, from jazzmen to younger
20, 2002 7:00
15600 J•L• Hudson Drive,
Southfield, MI 4807
Available from $50
Joseph E Savin
ZIONIST ORGANIZATION OF AMERICA
7001 Orchard Lake Road • Suite 310 • West Bloomfield, MI 48322
hat's the difference
between a foundation and
a federation campaign?
A foundation, such as the Jewish
Fund, makes distributions from a
base of assets — in this case, $60
million from the sale of Sinai
Hospital. The Federation must raise
funds every year for its ongoing allo-
cations, says Mark Davidoff,
Federation's executive director and
chief operating officer.
In addition, the Jewish Fund fol-
lows a policy that allows it to distrib-
ute 5 percent of its assets for grants on
an annual basis, says Jodee Fishman
Raines, director of the Jewish Fund.
There is a connection, though,
between these two groups.
"Our funds," says Mark Schlussel,
president of the Jewish Fund board,
clients ask for, say $1,000, and only
ket is down, it lowers the income we
get $400. And we've had to tell some
count on," he says.
people we'd like to fund to find the
As a result, his agency has had to
eliminate some outreach programs,
She watches on a weekly basis as the
like parenting workshops and commu-
number of people who need help
nity presentations. Sadly, it's these pro-
grows and the money her organization grams that reach the people who are
has to loan out shrinks. People can't
most at risk, he says.
pay back their loans as quickly in a
He has, however, found other
down economy, she says. But these
resources, like a $75,000 grant from
funds are supposed to be recycled back the Knight Foundation. This one-time
into the program to help others. So
grant is related to the economy, to
now there's less in the loan pool to
help people affected by Sept. 11.
Meanwhile, Margot Parr, executive
For the first time in 107 years, the
director of Jewish Home and Aging
HFLA — the oldest
in the Jewish commu-
nity — is considering
holding a fund-raiser
to increase its lending
capital, she says.
agencies her board
refers clients to for
additional help, like
Jewish Family Service
(JFS), also are hurt-
"The problem in an of the Hebrew Free of the Jewish
and Aging Services
ours," says Norman
Keane, Mary Keane's husband and JFS
Services (JHAS), says her agency's
executive director, "is that when the
budget has dropped about $500,000.
economy is down, there's an increasing "In a budget of more than $4.2 mil-
need for our services."
lion, it has dropped significantly to
He says that while Federation takes
$3.8 million," she says.
this growing need into account and
JHAS operates eight different pro-
that the community has been "most
grams and serves 1,800 frail Jewish
generous," his agency has felt the
older adults. "In preparing for this
effects of the economic downturn for
loss, we haven't made any changes to
the past couple of years.
our resident services, like nursing care,
"We rely on donations and on
meals and activities," she says.
invested donations. So when the mar-
But she has cut two staff positions,