Monday, June 9, 2014
UJA-Federation Announces $50 Million Day School Challenge Fund
UJA-Federation of New York has announced the establishment of its $50 million Day School Challenge Fund, which will begin to enroll schools in September 2014.
The fund will match endowment dollars that schools raise on a one-to-three ratio, positioning participating schools to raise an aggregate $150 million. Once complete, the total of $200 million in endowment funds will provide a new source of revenue for schools to subsidize tuition and invest in educational excellence. The fund is targeted at providing tuition relief and building academic excellence. Schools have approximately three years to raise matching funds, and UJA-Federation will provide significant assistance in helping them do so.
This is the first-ever New York-area effort of its kind and covers Jewish schools in the five boroughs, Long Island, and Westchester — a region that contains 60 percent of day school students in the nation. UJA-Federation of New York is spearheading the Day School Challenge Fund, along with contributions from The AVI CHAI Foundation, the Jim Joseph Foundation, and individual vanguard donors...