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Thanks to Beth Sholom Congregation and Talmud Torah for partnering with Tzedakah, Inc. in hosting a series of lectures on the topic of tzedakah as part of its Wednesday Night Live learning program. The fourth and final lecture is scheduled for Wednesday February 4 at 9:10 pm. Tzedakah, Inc. president Ira Kaminow will talk about exciting new Israeli initiatives aimed at increasing nonprofit transparency, mistakes donors make in evaluating charities, how those mistakes can give charities the wrong incentives, what Jewish tradition has to say about the need for due diligence in giving, and what to look for in taking the measure of a tzedakah. Beth Sholom Congregation and Talmud Torah 11825 Seven Locks Road Potomac, MD Want a program like this at your synagogue or organizaton? If you're interested in setting up a program like this one at your congregation or other organization, click here to find out more. |
In the article "Tzedakah and Tzedek," Rabbi Daniel Feldman writes "A gabbai tzedakah [charity adminstrator], particulalry one who is salaried, bears a certain responsibility for the funds under his management, to ensure that they are not lost, squandard, or inappropriately distributed...The nature of this liability, however, is complex and should be analyzed in each individual instance by a competent authority." 
How would you rule? The administrator of charity funds that were raised for a widow and her children invested the money with a businessman who had a sterling reputation. The businessman soon went bankrupt and the money was lost. Did the adminstrator have any liability for the lost funds? Click here to see how the case was decided. |
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The following is adapted from a letter that appeared in The Jewish Press Investing in Jewish Youth Rather Than the Stock Market Ira Kaminow President Tzedakah, Inc. Jewish endowment funds have billions left even after Madoff Perhaps more astounding than the amount of money lost by Jewish charities in the Madoff swindle is the revelation of just how much money Jewish charities and foundations have in their coffers. Mark Charendoff, president of the Jewish Funders Network, was quoted as estimating that losses in the Jewish community were at least $2.5 billion. And, of course, many more billions remain in Jewish family foundations and charitable endowments. 
What's the best use for those funds? The question that should be raised is whether the accumulation of vast amounts of financial assets in the Jewish philanthropic community is the best investment of those resources.
It's a well-worn joke that the only thing two Jews can agree on is how much a third should give to charity. So I don't want to tell philanthropists how or when to donate their money. Many are exceedingly generous and do incalculable good. The Jewish community is in dire straights right now! I do, however, want to ask them to consider the following: Much of the American Jewish community is drowning. Intermarriage rates are astronomically high while the commitment of Jews to the Jewish enterprise in America and their attachment to Israel are both on steep downward inclines. If current trends continue, there will be fewer and fewer American Jews left to benefit from the billions stashed away in endowment funds. Invest in our children, not financial markets. My plea is simple. Now is the time to substantially spend down endowment funds to help stop the hemorrhaging in the Jewish community. By far the best investment of those many billions hoarded in financial assets is Jewish youth. Just imagine. Imagine the return the Jewish community would reap if thousands more kids would be able to go to Jewish day schools - kids who are now shut out by unaffordable tuition rates. Imagine the increased commitment to Israel if thousands more kids could go on subsidized missions to Israel. Imagine the return if we could reach more young adults through outreach organizations so that their children will grow up in committed Jewish homes. A bigger payoff. Whatever the rate of return from financial investments, just imagine how much more rewarding it would be for the Jewish community if the same amounts were invested in our youth. Not only would there be more Jews, more commitment to Jewish values and more support for Israel, there would be a greater financial return as well. The more kids who grow up in a solid Jewish environment, the more they will contribute to Jewish needs years and decades from now. A final word from our holy Talmud. The Talmud (Rosh Hashanah 6a) enjoins us: "And with regard to tzedakah, it should be distributed immediately. For what reason? There are poor standing (and waiting); it is obvious." Our poor and poor of spirit and commitment are waiting! |
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The experiment The authors asked subjects to unscramble short sentences. After each subject unscrambled the sentences he or she was asked to distrubute ten dollars between himself/herself and another player. One group had sentences that included "God concept" words: spirit, divine, God, sacred, and prophet (e.g., "the cookies are divine"). The second group had sentences that included "civic concept" words (civic, jury, court, police,and contract). The third group had sentences with only neutral words. Results: On average, subjects who had God-concept words in their sentences gave away $4.56 and kept $5.44 -- nearly 50-50; subjects who had civic concept words did almost the same, they gave away $4.44; those with only neutral words were the most selfish; they kept $7.44 and gave away just $2.56. Click here to see the complete article. |
Does giving donors rewards for their generosity increase contributions? Not always, according to a study by Dan Ariely, Anat Bracha, and Stephen Meier. It all depends on whether the availability of the personal rewards is known to others or kept confidential. The experiment Princeton University students were told that the experimenters would direct dollars to charity in proportion to the number of times the students clicked computer keys. Some were offered side payments -- which they could keep -- in addition to the money going to charity. Some subjects were told the number of clicks would be kept confiential. Others were told the number of clicks would be publicized. Results When the number of clicks was kept confidential, students gave more when they received a personal benefit. When the number of clicks was publicized, the number of clicks was statistically the same with and without the personal benefit. Conclusion -- people want the public image of doing good. The receipt of personal rewards for doing good tarnishes that image. But if no one knows there's a personal benefit...why not take it? Click here to see the complete article. |