COVID-19 RESPONSE: An opportunity to make an immediate difference
Use your Federation philanthropic fund to help Hebrew Free Loan make zero-interest loans to Bay Area Jewish community members in crisis.
Together, we can quickly pool capital held in donor-advised funds and supporting foundations to make a recoverable grant* enabling Hebrew Free Loan to dramatically increase the number of loans it can make. Please act now and join other Federation philanthropists in mobilizing funds to Hebrew Free Loan.
*Recoverable grants make funds available for a set term with the expectation that they will be returned at the end of the term.
Key Features:
- Recoverable grants from the Federation to Hebrew Free Loan will make funds available for a set period of time with the expectation that they will be returned by the end of the term
- Up to $5 million will be pooled from across our nearly 1,100 DAFs and supporting foundations, with funds transferred to Hebrew Free Loan in tranches for faster distribution
- $1.5 million in matching funds were contributed by Laura & Gary Lauder and our organization's endowment
- 5-year recovery period with 0% interest
- Minimum grant recommendation of $1,000, with a suggested cap of 20% of a fund's total balance to preserve capacity for other grantmaking*
- Hebrew Free Loan will return all funds repaid by borrowers to the Federation for proportional distribution to the participating DAFs and supporting foundations at the end of 5-year term (thus no liquidity for 5 years)
- Any portion of loans not repaid to Hebrew Free Loan will remain a charitable grant allocated proportionally across participating DAFs and supporting foundations
- No additional transaction fees will be charged to the DAF or supporting foundation beyond the regular administrative fees assessed quarterly
How it works:
- Fill out the information below to express your interest.
- You will receive a full overview and terms by email.
- If you do not have a donor-advised fund and would like to participate in this opportunity, learn more about opening up a fund.
Questions? Contact us.
