Meeting the Need Interest-Free
Total Page：16
File Type：pdf, Size：1020Kb
17.5" 8.75" 2019 Annual Meeting the need interest-free 11.25" FRee of InteRest. Full of hope. NC JELF PROVIDES INTEREST-FREE, LAST DOLLAR APPLICATIONS ACCEPTED JELF.ORG SC (770) GA LOANS FOR HIGHER ED TO STUDENTS MAR 1 SEPT 1 [email protected] THROUGH THROUGH 396 IN ACROSS A FIVE-STATE REGION. 3080 APR 30 + SEPT 30 Reach out. FL @JELFLOANS CENTRAL OFFICE 4549 Chamblee Dunwoody Road Atlanta, Georgia 30338 4" THANK YOU FOR SUPPORTING MISSION. NC APPLICATIONS ACCEPTED SC GA LOANS FOR HIGHER ED TO STUDENTS MAR 1 SEPT 1 THR OUGH THR OUGH APR 30 + SEPT 30 FL 1980 inflation The on Rates avg. ↗2.7% tuition Rates on avg. need ↗260 % isThe Jewish community real. is not immune to hardship. Did you know that 31% of Jewish families have a household income of less than $50,000? Parents are struggling to fill the tuition gap more than ever before. JELF students come from single parent families, immigrant families, families afflicted with illness, ANNUAL REPORT ANNUAL job-related issues and special needs. And the list goes on. Our interest-free loans provide relief by helping Jewish students who have demonstrated need. The goal is to help them accomplish their educational and career goals. Educational Loan Fund Jewish 1 PAST PRESIDENTS HEBREW ORPHANS' HOME / ASYLUM OUR HISTORY 1889 - 1948 1889 Simon Wolf* Founded as the Hebrew Orphans’ Home in Atlanta, 1914 Joseph Hirsch* 1915 Victor Kriegshaber* JELF has been firmly rooted in providing care for 1935 Armand May* Jewish students in need since 1889. JEWISH CHILDREN'S SERVICE When the Orphans' Home closed its doors in 1930, due to changing times, the 1948 - 1989 1957 Albert Mayer* organization successfully transformed twice, first to Jewish Children’s Service 1959 Joseph Haas* 1962 Irving Goldstein, D.D.S.* (JCS) and then in 1989 to the Jewish Educational Loan Fund (JELF). 1965 Al Garber* 1967 Max Cuba* Based in Atlanta, JELF serves students across the original five-state region – 1970 Herbert Ringel* 1973 Abe Goldstein* Florida, Georgia, North Carolina, South Carolina and Virginia (excluding 1975 William Rottersman, M.D.* 1979 Joseph Patterson, M.D.* metro DC). JELF’s vision is that every deserving Jewish student can achieve 1981 Nanette Wenger, M.D. 1984 Marvin Botnick* their academic goals with as little interest-bearing debt as possible. 1987 Arthur Falek, Ph.D.* To view JELF's complete timeline visit jelf.org/history. JEWISH EDUCATIONAL LOAN FUND 1989 - PRESENT 1989 Beryl Weiner* 1991 Stephen Garber, Ph.D. 1993 Paul Hirsch, Ph.D. 1995 Nancy Abrams 1997 Bea Hirsch Feiman 1999 Judy D. Wolman, Ph.D. 2001 Albert (Hank) Greenstone* JELF Salutes Past President, 2003 Marianne Daniels Garber, Ph.D. 2005 Ned Montag Botnick 2007 Rob Smulian JELF will deeply miss and fondly remember our beloved 2010 Jeff Alperin Past President, Marvin Botnick. Marvin has been present 2012 Ed Hyken 2014 Rob Rickles at nearly every JELF event, Past Presidents' luncheon, 2016 Marianne Daniels Garber, Ph.D. MARVIN BOTNICK Loan Review and Annual Meeting. He often enlightened 2018 Stan Lowenstein *OF BLESSED MEMORY us with a D’var Torah and sage advice. Marvin played an instrumental role in JELF's growth through the past 50 years, for which we are so fortunate and grateful! ANNUAL REPORT ANNUAL CHILDREN OF THE HEBREW ORPHANS' HOME Jewish Educational Loan Fund Jewish 2 OUR BOARD PrESIDENT JELF takes money and turns it into .” These were the words of Rabbi Steven Lebow in his D’var Torah at JELF’s 2019 Annual Meeting. In 2019, JELF provided $1,278,194 to 296 students. Add that to what we have loaned since 1985 and JELF has provided over $13 million to help students go to college and graduate school – interest-free. That's a lot of mitzvot. “ This past year, JELF received a transformative grant from The Marcus Foundation which is allowing us to upgrade our technology and marketing initiatives. The goal is for JELF to effectively reach each Jewish student in our region who needs funding for their college education. 2020 also brings the implementation of JELF's fourth strategic plan. We plan to spend more time in communities throughout our region building relationships and spreading the word. I am honored to follow in the footsteps of great presidents. Together with a terrific board, an incredible staff, our supporters, and those who have been recipients of our loans (JELFies!), we look forward to achieving new heights – so that we can accomplish even more! Thank you for your support. JANE ARONOFF BOARD PRESIDENT OUR CEO In early 2019, I had the privilege of interviewing Sammy Rosenbaum for a video on JELF’s impact. During SAMMY our conversation, Sammy, who is currently studying to be a Rabbi at the Ziegler School of Rabbinic Studies, ROSENBAUM shared his thoughts on being able to pursue his dreams through JELF. ZIEGLER SCHOOL OF RABBINIC STUDIES Throughout history, Jews have had to support 2nd Year Student themselves. Being self-sufficient is important for us. HOMETOWN ” Boca Raton, Florida For JELF, lending for education is not just what we do…but what we stand for. Giving JELF To hear more JELFie applicants the gift of self-sufficiency is embodied in our principles and allows us to recycle our stories including dollars for true sustainability. Sammy’s, visit REPORT ANNUAL “ JELF's success continues to confirm our belief that there are even more families and students who need our JELF.org/video. help – and in 2020, it is our goal to reach them. I want to sincerely thank our donors and previous recipients who make this “circle of giving” a reality. We couldn’t do it without your support. Cheers to 2020! JENNA LEOPOLD SHULMAN Educational Loan Fund Jewish CHIEF EXECUTIVE OFFICER 3 JELF really was my last dollar solution. I had maxed out education loans and did not think I would be able to finish my degree. I am extremely grateful for the funds I received so that I was able to stay “at Embry-Riddle and accomplish my goal of receiving my B.S. in aerospace studies.” clontz HOMETOWN – HIGH POINT, NC According to the New York Times, at least 30% of students from over 100 universities said they had been “food insecure” in the past 30 days. IN ADDITION TO TUITION AND FEES, JELF HELPS STUDENTS WITH THE HIDDEN COSTS OF COLLEGE – TRANSPORTATION, FOOD, BOOKS, SUPPLIES AND MORE. FACT: Jews are better educated than any other major religious group in the world, Students are with an average of 13.4 years of schooling and a majority going onto higher education. more likely PEW RESEARCH STUDY [ 2016 ] than parents ANNUAL REPORT ANNUAL to reject a school because of cost. The average Parent PLUS* loan last year from JELF recipients was $11,924, an increase % VS. % of 40% over the past decade. 88 70 SALLIE MAE * A Parent PLUS loan is a fixed-rate, federal student loan for parents of undergraduate students. [2019] Jewish Educational Loan Fund Jewish 4 JELF JELF HAS since LOANED % % avg.2019 tuition $9,387,894 of94 students 43of 2019 2008 T O borrow money tuition prices costs JELF loan to pay for have risen in-state Public recipients come $10,116 2,406 their bachelor's JEWISH from Jewish degrees today, out-of-state STUDENTS families public IN NEED OVER a 45% rise 14more thanx the $22,577 earning THE PAST since 1993. median income private $36,801 10 YEARS ALONE. inflation. <$60K PER YEAR. JELF'S GIFT IS 99% IN THE SAVINGS repayment rate ANNUAL REPORT ANNUAL In 2019, JELF saved 296 students a collective $761,600 in interest that would have accrued over the life of their interest-bearing loans. JELF's loan funds are in a constant state of motion, from one student to the next. Educational Loan Fund Jewish 5 the journey The JELF experience is based on a cycle of giving. JELF markets its interest-free loan program through high JELF funds its schools, Hillel, universities, counselors, youth groups, camps interest-free loans through and more in order to let those in need know about our a combination 1 financial resources. of student repayments, contributions JELF then analyzes each student’s situation through a from individual donors, family comprehensive loan application and personal interview foundations, which takes place locally. and nearly 2 every Jewish Federation in Loan applications are evaluated anonymously and its five-state confidentially by a trained committee of JELF volunteers. region.* Students are awarded their loan checks in August and/or REFER TO P. 15 3 December, depending on when they apply. After their final graduation and a 6 month reprieve period, students have an 8-year graduated repayment schedule. This allows future Jewish students to take advantage of this ANNUAL REPORT ANNUAL 4 financial aid. Through our unique model, JELF’s funds are always in a constant state of tikkun olam. For more, visit jelf.org. Jewish Educational Loan Fund Jewish 6 The JELF experience is based on a cycle of giving. % increase Number of JELF Recipients SINCE 2013 6 2013 2014 2015 2016 2017 2018 2019 TOTALS 227 202 219 220 273 280 296 % increase JELF Dollars Loaned SINCE 2013 26 2013 2014 2015 2016 2017 2018 2019 TOTALS $852,110 $750,118 $800,000 $814,070 $1,000,046 $1,011,266 $1,278,194 Loan Data Comparisons 2018 vs. 2019 # OF STUDENTS STUDENT NEED JELF FUNDED 2018 2019 2018 2019 2018 2019 ANNUAL REPORT ANNUAL UNDERGRAD 220 230 $992,536 $1,093,046 $798,818 $973,972 GRADUATE 59 66 $270,730 $330,202 $212,448 $304,222 TOTALS 279 296 $1,263,266 $1,423,248 $1,011,266 $1,278,194 Jewish Educational Loan Fund Jewish 7 JELF Loans Awarded by Community 2018-2019 2019-2020 STUDENTS LOANS STUDENTS TOTAL LOANS COMMUNITY FUNDED AWARDED FUNDED NEED AWARDED BOCA – S.