Half of Jewish groups that applied got government loans totaling $264 million, survey finds

A new survey found that Jewish organizations have received at least $264 million in U.S. government loans under the recently passed stimulus bill.

As of now, the federal loans collectively represent the largest infusion of cash into the Jewish organizational world since the beginning of the COVID-19 pandemic. But even according to conservative estimates, the money fills less than half the anticipated need for Jewish nonprofits.

A document produced last month by Jewish Federations of North America, an umbrella group for communal fundraising bodies, says that Jewish organizations will require at least $650 million to weather the crisis. Other leaders have quoted higher numbers.

Jewish Federations CEO Eric Fingerhut said “it wouldn’t surprise me if it’s higher.”

. . . .

The loan amounts ranged from $5,000 to nearly $5 million, with the median at $256,000. Jewish Federations estimates that Jewish groups in total could receive as much as $500 million in government loans.

https://www.jta.org/2020/04/22/united-states/half-of-jewish-groups-that-applied-got-government-loans-totaling-264-million-survey-finds

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