Twnty-two New York City, Long Island, and Westchester Schools
Participated in Initiative
UJA-Federation of New York announced Tuesday that its Day School Challenge Fund (DSCF) has generated $84 million in new endowment dollars for participating Jewish day schools and yeshivos in New York. Twenty-two schools from New York City, Long Island, and Westchester participated in the DSCF, raising $53 million. An additional $31 million was contributed from the match fund, yielding a total of $84 million for regional students.
The DSCF launched in September 2014 with a $51 million Challenge Fund – $20 million from UJA’s endowment, together with significant funding from The AVI CHAI Foundation, The Jim Joseph Foundation, and eight visionary families. This Challenge Fund was used to match new endowment dollars raised by participating schools.
The new endowment dollars provide a predictable revenue stream for schools to provide scholarships and invest in educational excellence. The fund is managed and invested by UJA-Federation, with annual distributions to the schools.
“We are very proud that, together with the participating schools, we were able to inject $84 million in new endowment funds into the New York yeshivah and Jewish day school system. The results are highly impactful, with many schools either launching their first-ever endowment or significantly increasing existing endowments. These new endowment funds will benefit the schools for years to come, allowing for significantly more scholarships and the ability to invest in academic excellence,” said Eric S. Goldstein, CEO, UJA-Federation of New York.
The 22 DSCF participating schools represent the spectrum of North American day schools and yeshivos: Abraham Joshua Heschel School, Barkai Yeshivah, Carmel Academy, Hannah Senesh Community Day School, Hebrew Academy of Long Beach, Hebrew Academy of the Five Towns and Rockaway, Hebrew Academy of Nassau County, Manhattan Day School, Mazel Day School, North Shore Hebrew Academy, Ramaz, Rodeph Sholom School, SAR Academy, Schechter School of Long Island, Solomon Schechter School of Manhattan, Solomon Schechter School of Queens, Solomon Schechter School of Westchester, The Shefa School, Westchester Day School, Yeshiva Darchei Torah, Yeshivah of Flatbush, and Yeshiva of South Shore.
The DSCF was the first-ever New York-area effort of its kind and covered Jewish schools in the five boroughs, Long Island, and Westchester – a region that contains 60 percent of day school students in the nation.