This article is the final in a four-part series about how the recession has affected different parts of the university.
Tufts Hillel is focusing more on its annual fundraising campaign this year in the face of a loss in the value of its endowment, spending cautiously as it tries to maintain much of its student programming.
Hillel's operating budget may decrease by 15 percent this year, according to Tufts Hillel Associate Director and Chief Financial Officer Lenny Goldstein.
The organization, which focuses primarily on providing services for Jewish members of the Tufts community, pools its endowment with the university's endowment, which university officials expect to decrease by 25 percent in the coming year.
Hillel owns proportional unit shares in Tufts' endowment, which means that its investments move in tandem with those in larger endowment, according to Director of Public Relations Kim Thurler.
The decreased value of Hillel's endowments translates to a greater emphasis on its annual fund, which funds a large part of the organization's day-to-day operations. Rabbi Jeffrey Summit, Hillel's executive director, said that Hillel's ability to fundraise in the short-term may dictate its future actions.
"We rely a great deal on our annual campaign, and right now we are monitoring the success of our fundraising carefully to assess what cuts we might have to make this year and next year," he said in an e-mail. "[B]ut that will be determined as the semester progresses."
Judith Canter, Hillel's director of development, told the Daily that she expects a decrease in total fundraising, despite seeing some higher contributions from certain donors.
"While we have raised funds close to what we had raised by this date last year, we do anticipate ending the year below our original annual fund goal," she said, placing the loss in the range of 10 to 15 percent.
Last year, Hillel completed a $6.4-million fundraising campaign, beating an initial goal of $5.8 million.
"We are cautiously optimistic," Goldstein said. "It's been challenging, as it is for any business, any non-profit organization. While some people have stepped down, others have stepped up."
The decrease in value of the annual fund would force Hillel to make certain cutbacks. While declining to mention any specific programming that may be cut, Goldstein noted that Hillel would probably spend less money on this year's Israel Fest (iFest).
"We need to take a look at what our programming is and cut back around the edges," Goldstein said, adding that no programs have been eliminated so far.
At the university level, Tufts' loss of a $20 million investment in disgraced financier Bernard Madoff's Ponzi scheme has created concern over donors' willingness to give to the university.
For Hillel, the uncertainty is even more acute, as Madoff's scheme ensnared a large number of Jewish organizations and philanthropists. Goldstein said that the organization has remained unaffected so far.
"We don't currently receive any money from organizations that were directly affected, although something may emerge," Goldstein said.
But at the international level, a different story has emerged.
Jeff Rubin, a spokesperson for group that oversees Hillel organizations worldwide, told the Daily that the Hillel parent organization lost over $600,000 as a result of the Madoff scandal. These losses mainly affect Hillel centers in Israel and in the former Soviet Union.
"In general, all of our donations are down. We are no different from any organization in the world," he said. "A lot of Hillels are taking prudent action to make sure their financial stability remains intact."
At George Washington University's Hillel, officials are seeing smaller, but not fewer, donations, according to GW Hillel Executive Director Robert Fishman. He noted that some of his organization's donors lost money in Madoff's scheme.
