Investments Jewish News Jan 22, 2018

Investments & Giving

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Investments & Giving

Super Sunday Sunday, Jan. 28 • 10 am – 1 pm

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nited Jewish Federation of Tidewater’s biggest phone-a-thon fundraising day of the year— Super Sunday—raises money for the annual campaign. The annual event supports UJFT’s

work, which directly impacts the lives of Jews in Tidewater as well as around the world. The community’s generosity on that day helps provide scholarships for students to attend Jewish day schools, helps Jewish elderly receive food, medical, and transpor-

tation assistance, and protects and strengthens communities in Israel, among other endeavors.

This year’s Super Sunday will include:

Three ways to help make Super Sunday a success and to reach its fundraising goal:

• Activities for children in the gym until noon, • Marketplace for shopping, • Tzedakah box decorating project hosted by Nadiv YAD’s Men Giving Circle, and • O peration Hamantaschen—an opportunity to make hamantaschen and write cards for care packages for service

Volunteer to make phone calls 10 am–11:30 am or 11:30 am–1pm (babysitting services will be available for volunteers).

members who are deployed overseas so they will be able to celebrate Purim.

Jeremy Krupnick, Super Sunday chair, says, “I am very excited about this year’s Super Sunday event. We really want the Jewish

Answer when one of the volunteers calls.

community to come out and participate this year—whether that be through volunteering, or coming to check out the new and exciting activities we have going on during the day. You won’t want to miss Super Sunday…it’s going to be amazing!”

Donate!

For more information or to volunteer, visit www.JewishVa.org/ SuperSunday or call 757-965-6138.

jewishnewsva.org | January 22, 2018 | Investments | Jewish News | 17

Investments & Giving Life & Legacy

Portnoys agree on their legacy Barbara Gelb

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hen talking with Erinn and Dr. Felix Portnoy, the commitment and love they have for the Jewish community is obvious. As parents of very young children, they feel compelled to step up and provide for the Jewish future of the next generation, and are thrilled to be able to do so by leaving a gift through the Life & Legacy program.

Erinn was born and raised in Wilmington, N. C. After her brother, Adam moved to Norfolk to start his dental practice, her parents made the move to Tidewater. Erinn and Felix followed a few years later.

Felix was born in Moldova, USSR, and in 1978 moved to Israel. He speaks with emotion about the activism of Jews

and Jewish organizations in the United States that enabled him and many other Jews to leave the USSR. The Soviet Jewry movement was a long struggle, but Felix believes that in many ways it was what helped American Jewish communities form and strengthen Federations, Community Relations Councils, and other organizations. Felix’s family moved to Kiryat Yam, which coincidentally happens to be the United Jewish Federation of Tidewater’s sister city. In 2004, Felix moved to North Carolina as a student, and that is where he met Erinn.

Erinn says that her parents shaped her Jewish identity and modelled how to be and how to live a Jewish life, emphasizing tzedakah and tikkun olam. “It was a small Jewish community, and we lived our lives around the synagogue. My mom made

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me a life member of Hadassah in elementary school.

They really directed my life to becoming who I am Jewishly and as a person.”

For Felix, who grew up in Israel, he says it was easy to be Jewish there.

“Everyone went to a Jewish school,” he jokes. “But when I moved to the United States it was very different. Unless you actively seek Jewish involvement, you won’t have it. I learned a lot from Erinn’s family and they really reconnected me with my tradition.”

Felix and Erin Portney amd their daughters.

The Portnoys agree about how they want to be rememWhen they heard about the Legacy Match bered and the kind of legacy they hope Life Insurance program. However, they to leave. Felix says he would like to be realized that being younger was an advanremembered as a family person. “That is tage because they can get a lower rate and very important to me. I try to devote as be able to leave a more substantial gift to much as I can to my wife and children.” the community.

Erinn agrees, and adds that she is so Through the Legacy Match program, glad that “Our kids will remember when TJF pays a portion of the premiums their dad went to a Hanukkah party at on policies of $100,000 for a single life their school, or when he dressed up as policy and $250,000 for a two-life policy. an Israeli soldier on Yom Ha’atzmaut and The donor saves money by paying only marched them around the gym. They’ll part of the premium, which is also tax know that the Jewish community was deductible. important to us.”

As Felix says, “I appreciate the opporThe Portnoys’ hope is for the Jewish tunity the Tidewater Jewish Foundation community to, at the very least, maintain gave us to do this. It really amplified our the same level of services that are progift and made it possible for us and our vided today, and hopefully improve it. friends and other people in our commu“The generation before us did a great job nity to take an active role in the Life & of providing for us. That is why we are so Legacy program.” happy to be able to participate in the Life & Legacy program.”

For more information on the Legacy Match As a younger couple, when the Life Insurance program, call Barb Gelb at Portnoys first heard about after-life giving, 757-965-6105. they didn’t expect to be able to participate.

Investments & Giving 3 reasons retirees should look both ways when crossing Wall Street

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ost Americans don’t trust Wall Street. Yet many will put the bulk of their retirement savings in the stock market’s hands.

The increasing disappearance of company pensions and the growing popularity of the 401(k) shifted the retirement-planning paradigm from employer to employee over the last 30 years, pouring billions of dollars into the stock market. Now nearly half of the 127 million American workers who put in at least 35 hours per week participate in 401(k)s.

On the other hand, less than a third of Americans in a recent Bloomberg National Poll said they had a favorable view of Wall Street. The low approval rating (31 percent) is unchanged since the 2008 financial crisis.

Against this backdrop of cynicism are the vagaries of the stock market itself.

Some financial experts think that, given market unpredictability and a less clear

financial path to retirement than it was decades ago, leaning on stocks primarily for retirement funds poses a heightened risk.

“The ceiling always falls. And whereas pensions provided a measure of stability—set payouts based on a percentage of income—the 401(k) is a huge gamble,” says Mario Henry, a financial services professional and author of How to Hire Your House.

“Meanwhile, according to Benefits Pro, about $5 trillion is invested in 401(k) accounts managed by Wall Street, but who’s really benefitting? An individual pays into a personal investment account with no guarantees. Everything points back to people investing in stocks that ultimately make Wall Street wealthier.

Too many people who invest their retirement savings in the market aren’t able to retire and prosper.”

Henry lists three reasons he thinks

taking a retirement road down Wall Street can be bumpy or worse: Retirement - pension = pressure to invest. Pensions brought certainty for generations of retirees. Then the economic model shifted dramatically, putting much more of the planning pressure on the employees. “We are living in the first generation that largely will be without a pension,” Henry says. “People who are in a quiet panic about having enough for retirement are vulnerable to bad investment advice and high fees. Often they get caught up in the idea of a long-term bull market and don’t know about or explore other investmentoptions.”

Remember the recession? Many people haven’t recovered from the 2008 debacle, Henry points out. “It was more than a cautionary tale,” he says. “It had a huge impact on retirement savings. Going forward,

it’s important to note a 401(k) usually benefits the higher earners because the middle- and lower-income workers often don’t have the tools to manage their accounts successfully.”

Fickle or under-funded 401(k)s. Many workers aren’t able to put enough into their retirement plans. The ante has gone up with people generally living longer and needing funds for 25 to 30 years or more.

“Also, it’s impossible to be immune from the risk that the stock market can dive as you approach retirement,” Henry says.

“And, some people will inevitably make bad investment choices.”

“I do believe Wall Street has a part to play in someone’s investment portfolio,” Henry says, “but to be 100 percent dependent on a system for your retirement saving that isn’t proven to perpetuate your income is not a wise strategy.”

jewishnewsva.org | January 22, 2018 | Investments | Jewish News | 19

Investments & Giving Five smart things to do before you start investing Hoboken, NJ ( January 2018)—You’re young, you’re eager, you’re out in the workforce earning money, and you’re ready to jump into investing full force.

Or maybe you’ve been working for a few years but have been too busy getting yourself established (and yes, having a bit of fun) to get serious about preparing for the future. Either way, you’ve done a little homework and believe you’re ready to pick an investment and put your money into it.

Not so fast, says financial expert and best-selling author Eric Tyson, MBA. Before you make any wealth-building investments, you first need to get your financial house in order.

“Before you think about investing, you need to have a good financial foundation in place,” says Tyson, author of Investing in Your 20s & 30s For Dummies®, Second Edition(Wiley, 2017, ISBN:

978-1-119-43140-4, $19.99). “There’s a natural order to managing your money and setting yourself up for a secure future.

If you don’t follow it, you can set yourself up for big headaches down the road—or at least fail to maximize your nest egg.”

Tyson explains that most young people today have debts from lingering college loans or credit cards, and have little savings for unexpected expenses. Even though investing sounds like an exciting solution to financial wellness, you need to take care of a few other issues first.

Here are the five things Tyson says you should do before you start investing.

First things first: Set your financial goals. Do you have establish£ed financial goals that you’re working toward?

If not—and frankly, too many young people simply don’t think this way— Tyson advises you to figure out your

financial goals before you begin investing.

Otherwise, you won’t know how much to save or how much risk you need to take or are comfortable taking. Plus, there may be several goals you want to save for and that will affect your investing strategy.

“When I was in my 20s, I put some money away toward retirement, but my bigger priority was to save money so I could hit the eject button from my management consulting job and start my own business,” says Tyson. “I kept the money I saved for the start-up of my small business, which was a shorter-term goal, safely invested in a money market fund that had a decent yield but didn’t fluctuate in value.

“By contrast, my retirement was a longer-term goal, so I invested the bulk of my retirement money in stock funds,” he adds. “If these funds fluctuated and declined in value, that was okay in the

short-term, because I wouldn’t be tapping that money.”

Pay off any high-cost debt. This might be a bit of a no-brainer, but paying off any consumer debt you have, such as on a credit card or auto loan, should be your first priority. Consumer debts are charged a high interest rate (many 18 percent or more per year), which keeps the debt growing and can cause your debt to quickly spiral out of control.

Tyson recommends reducing and eventually eliminating this debt—otherwise, it can be a major obstacle to investing and achieving your future goals.

“Paying down debts isn’t nearly as exciting as investing, but it can make your future investment decisions less difficult,” explains Tyson. “Rather than spending your time investigating specific investments, paying off your debts with money

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20 | Jewish News | Investments | January 22, 2018 | jewishnewsva.org

Investments… you’ve saved may indeed be your best investment.”

Build an emergency reserve. No one knows for sure what life will bring, so having a reserve of cash on hand just makes good financial sense. Tyson generally recommends having at least three to six months’ worth of living expenses as an emergency reserve. Invest this money in a money market fund. Without a financial safety net in place, later on you may be forced to sell an investment at a lower price.

“If you have generous parents or dear relatives, you can certainly consider using them as your emergency reserve,” says Tyson. “Just be sure you ask them in advance how they feel about that before you count on receiving funding from them. If you don’t have a financially flush family member, the onus is on you to establish a reserve.”

Assess paying student loans. Many millennials are now starting out with student loan debt. If you’re one of them, you’re probably questioning whether you should focus on paying down that debt first or investing your extra money. Tyson says that your choice will likely depend on the interest rate on this debt (after factoring in any tax breaks) and how that compares with the expected return from investing.

The question you need to consider is this: Can you reasonably expect to earn an average annual rate of return from your investments of more than the effective interest rate on your student loan?

In addition, there are some other factors you should consider when deciding whether you should pay down student loans faster. Maybe paying off your student loans faster has no tax benefit or drains your emergency reserves. Or maybe you’re game to invest in growth-oriented, volatile investments like stocks and real estate. These are good reasons not to pay off your student loans any quicker than necessary.

Now, find a way to commit to saving 10 percent of your salary. To accomplish your financial goals, you need to continually be saving money. Tyson recommends saving 10 percent of your annual income

“Paying down debts isn’t nearly as exciting as investing, but it can make your future investment decisions less difficult.

each year for the rest of your working life.

Admittedly, this is no small task. Some people may be able to find a higher paying job or even get a second job, but for most, this 10 percent will have to come from spending cuts.

“To reduce spending, sit down and figure out where your money goes,” says Tyson. “Examine your bill-paying records and credit card statements. Tally up how much you spend dining out, operating your car, paying taxes, and everything else. Then prioritize and determine where you can cut back on spending to boost your saving rate. This may require a lifestyle shift that may or may not be easy at first—but once you get started, it will quickly become your new normal and you will stop feeling deprived.”

“Even if you’ve got a great job and a bright future on the horizon, it’s unwise to dive into investing without first carefully considering your long-term goals and getting your personal finances in order,” concludes Tyson. “When you’re young, you’ve still got plenty of time to invest, so don’t get ahead of yourself. Focus on getting your finances in order, and in the years to come, you’ll reap the benefits of the strong foundation you’ve built.”

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jewishnewsva.org | January 22, 2018 | Investments | Jewish News | 21

Investments & Giving The new tax law lets you use college savings for Jewish day school. Is that a good thing?

Ron Kampeas

WASHINGTON (JTA)—When the new tax bill was signed into U.S. law by President Donald Trump on Dec. 22, an unexpected constituency benefited: parents who send their kids to Jewish day schools.

Until now, the college savings plans known by their tax codes, 529s, could only be used for college tuition. But effective as of Jan. 1, up to $10,000 may be withdrawn annually from the tax-free plans to help pay for private school.

“For private school parents, it’s another reason to consider investing using a 529 plan,” Roger Young, a senior financial planner at T. Rowe Price, says.

Parochial schools have celebrated the change. While Catholic school advocates led the lobbying for the tax break for private schools, Orthodox Jewish umbrella bodies also were involved in advocating for the move. At the same time, however, proponents of church-state separation have decried the provision as chipping away at support for public schools.

Experts are still not sure whether the new provision will have much of an impact. On the one hand, day school parents in some states now have an opportunity to save hundreds of dollars a year in tax breaks. On the other hand, the 529 system was designed for long-term savings and may not be the best vehicle for frequent withdrawals.

This is what we know so far.

Who benefits?

Anyone who is paying or contributing to a private school education.

“It will assist people in the middle class of the Orthodox community who are already struggling with their economics generally and paying for education as part of that,” says Nathan Diament, the Washington director of the Orthodox Union, which lobbied for the change.

The way 529s are set up, contributions are not tax deductible from federal taxes, but the earnings are. In addition, 35 states offer state income tax exemptions on

contributions—generally between $2,000 and $10,000 a year, and depending on whether the contributor is an individual or a couple.

This means that in some states, private school parents (and grandparents) score twice: a state income tax exemption on up to $10,000 being put into the plan and a $10,000 exemption on the withdrawal.

The state income tax exemption, when applicable, creates an immediate tax break for contributors, even if they don’t keep the money in long enough to benefit from the federal tax break on accrued earnings.

Jewish day schools are heavily concentrated in the Northeast and states there vary widely in their tax policies.

New York, for instance, offers the $10,000 tax deduction; New Jersey offers none.

State chapters of the Orthodox Union and Agudath Israel of America, umbrella bodies for Orthodox groups, are lobbying for more generous state-level 529 benefits.

This is a windfall for day school parents, right?

Not quite—it’s more like a gentle breeze.

The state savings typically amount to hundreds of dollars. Say a state taxes income at 8 percent and allows tax exemptions on up to $10,000–that’s $800 in savings per child.

The federal tax savings on revenue depend on the parents and their personal circumstances.

“These are the kind of questions parents have to discuss with personal financial advisers and accountants,” Diament says.

With tuitions at private colleges reaching as high as $70,000 a year, there may not be enough of an incentive to divert money to day school tuition. Money for a university accrues interest for 18 years if parents open a 529 when a baby is born.

A New York Times projection says parents dumping $200,000 into an account when a baby is born and doing nothing would have more than $370,000 to spend come college time.

Accordingly, day school investments

22 | Jewish News | January 22, 2018 | jewishnewsva.org

inherently will accrue less interest: If you open a 529 when a child is born, you’ll be making withdrawals when she is five or six years old. Parents with kids already in the day school system—and who have opened 529s, carefully planning to cover college tuition—may be less inclined to divert funds to day school tuitions. Parents of newborns may have a greater incentive to open a 529 now and accrue some tax-free interest in the next five years or so.

Additionally, parents planning for an 18-year haul can afford riskier investments—and potentially greater returns—than parents who will want to start cashing in their investments within five or six years.

“If you’re putting money into a 529 for elementary or high school expenses you need to carefully consider your time horizon,” Young says. “If you have a longer time horizon, you can be more aggressive.”

Noam Neusner, a communications adviser who worked on tax policy for the George W. Bush administration, suggests grandparents could use the new break as a means of encouraging their children to go the day school way.

“If you’re a grandparent contributing to a child’s day school tuition, this provides a way to ensure you can continue to support that investment into the future, regardless of if you’re alive,” he says. “You designate funds for the 529, and ensure that your grandchild has funds for future years in day schools.”

Won’t day schools seize the opportunity and raise tuitions?

Tax experts have speculated that in much the same way that universities have tailored tuitions to gobble up tax breaks, the same could happen at the day school level.

But Jewish day school officials say that’s unlikely among their schools, which are striving to persuade more parents to make the day school commitment.

They would rather use the new rule as an enticement to parents to sign up their kids rather than a new avenue for revenue,

officials say.

“Schools are already under pressure since the recession started [in late December 2007] to hold the line on tuition,” says Dan Perla, the director of financial vitality for Prizmah, a new umbrella body for Jewish day schools.

If this is a victory for those who believe in “school choice,” does this mean it’s a loss for public education advocates?

The groups that lobbied for the change made no secret of a broader agenda: to chip away at American civil traditions that balk at funding religious institutions.

In an online statement, Agudah calls the provision “a significant, symbolic, national school-choice victory” even if its benefits do not immediately accrue day school families who choose not to open 529s.

Orthodox groups have welcomed the emphasis by the Trump administration and its education secretary, Betsy DeVos, on funneling more federal funds to private schools, including religious schools.

That’s why the the fight isn’t over.

Having lost the battle on the federal level, secularists and public education advocates are likely to push back on the state level—meaning they may fight to adjust local laws in order to counteract the new provision.

“It would provide tax breaks for families to send their children to private religious schools,” Americans United for Separation of Church and State said before the bill passed. “Congress should be finding ways to fund our public schools, not finding new ways to send money to private religious schools.”

Perla of Prizmah says he did not anticipate too much pushback from state legislatures, which will be under pressure to preserve deductions after the federal tax law did away with so many of them.

“States are already going to be under pressure to hold the line on state and municipal tax increases,” he says. “The political environment won’t be conducive.”

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Three ways to avoid toxic financial advice and rash decisions

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nvestors hear so much conflicting information and advice in the media these days that it’s perhaps easier than ever to become confused and make decisions based on emotion rather than on sound financial advice with a well-structured financial plan.

“With the growth of the internet, social media and TV, investors are constantly tempted to lose focus on what they can control and instead focus on things out of their control,” says Jason Labrum, founder and president of Labrum Wealth Management (www.labrumwealth. com) and author of the upcoming book Financial Detox: How to Steer Clear of Toxic Advice, Achieve Financial Independence and Manage Your Wealth for Maximum Impact.

High-strung investors fret over every dip in the stock market. They wonder who will win the next election and what that will mean to their investments. They hear about a crisis overseas or one here at home and ponder whether to abandon their carefully planned investment strategy based on the fear and uncertainty they feel as a result of the latest news reports.

Take a deep breath, Labrum says.

“You shouldn’t change what you’re doing just because of current events,” he says. “I often tell my clients, ‘I forbid you to freak out and stress out about the market. Turn off the news, turn off the TV and go enjoy the aspects of your life you work so hard for; family, friends, and your passions.’ ” To getting caught up in the toxic atmosphere and advice created by a 24-hour news cycle, Labrum says the savvy investor needs to: • Stay disciplined. The investment returns that the market delivers can be phenomenal if you stay focused, Labrum says. The problem: Investors react to media hype and make behavioral blunders based on emotional decisions rather

than fact-based reality. “One key factor in investment success is learning how to maintain discipline and stick to the goal oriented financial and investment plan that is created for them,” he says.

• Know your volatility tolerance. It’s important to understand your tolerance for volatility when you’re building your portfolio. “Volatility is not necessarily risk; it’s an expected part of investing,” Labrum says. “However, your behavior can turn volatility into risk if you make decisions based on fear or panic.” If your goal is simply to save for retirement, and you would rather avoid the stress of watching market swings, then a strategy with a 5 percent volatility portfolio may be perfect, he says. If you have more ambitious goals (such as leaving money to heirs or giving to charity), and volatility doesn’t give you the jitters, then a higher percentage of volatility may be appropriate. The key is to find a balance that allows you to achieve your financial goals, but at a level of volatility you’re comfortable with.

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• Listen to your advisor. People are prone to make emotional decisions with their investments. A good advisor, preferably a fiduciary advisor, should be able to help you avoid acting rashly and maintain the discipline you need to be a successful investor, Labrum says. The fiduciary advisor should be able to look at the situation without the impassioned bias you bring to it, and help you make sure you don’t panic and that you stick to your financial plan.

“Perhaps the most important thing is to educate yourself about finances and investing,” Labrum says. “You don’t have to know everything and you don’t have to do this all on your own, but you do have to know enough about the financial system to not get taken advantage of. That’s the only way to make smart choices that will make a real difference in your life.”

jewishnewsva.org | January 22, 2018 | Investments | Jewish News | 23

Investments & Giving These philanthropists want to find the next big Jewish idea through angel investing Debra Nussbaum Cohen

NEW YORK—Are you an open-minded person who cares about Jewish life and has at least $50,000 a year to spare?

If so, a group of elite philanthropists may want you to join their quest for the next big Jewish idea. Guided by a philosophy that champions collaboration and experimentation, they are looking to help transform Jewish life in North America by making early-stage investments in promising Jewish endeavors.

Led in part by retired hedge fund manager Michael Steinhardt, the Areivim Philanthropic Group is open to individual philanthropists and foundations who each commit a minimum of $50,000 per year; many end up investing significantly more in projects they believe in. The goal is to leverage the power of the collective and make it possible for philanthropists to make a bigger impact jointly than they can on their own.

“Areivim is not a mega group, but the closest there is,” Steinhart says. “Areivim is intended to really achieve things that are not being achieved in the Jewish community.”

The name Areivim comes from the Hebrew phrase “Kol Yisrael areivim zeh bazar”—“all Jews are responsible for one another.”

The group isn’t exactly new. Steinhardt launched Areivim in 2005 with the late Jewish philanthropist and Detroit billionaire William Davidson with the hope of it becoming a $100 million fund comprised of 20 philanthropists each investing $5 million.

But it wasn’t easy getting mega donors to coordinate and compromise and work as a team, Steinhardt says.

“Affluent philanthropists generally like to work individually,” he says.

So after a few years Areivim changed its approach. Now the group, which has seven members and is looking for more, focuses on funding early-stage research and development of programming to advance Jewish life.

The members are the Avi Chai Foundation, the David S. and Karen A. Shapira Foundation, the Paul E. Singer Foundation, the Julie and Martin Franklin Charitable Foundation, the RecanatiKaplan Foundation, the Steinhardt Foundation for Jewish Life, and the William Davidson Foundation.

“We grow very carefully and slowly,” says Iryna Gubenko, Areivim’s manager of strategic partnerships and sole staffer.

“They have to be really passionate about the growth of the Jewish community and in investing in new things. We don’t fund existing things. It’s all experimental in nature.”

The focus is on Jewish, Hebrew and Israel education. Areivim helped create and promotes Hebrew Public, a network of Hebrew-language public charter schools; started a Hebrew-immersion summer camp program called Kayitz Kef; and launched an English-language version of Israeli Scouts called Israeli Scouts Atid.

Areivim also offers formal endorsements of projects begun by others that meet Areivim’s criteria for best practices.

David Shapira, a supermarket mogul from Pittsburgh, was one of Areivim’s early members. When he first started giving big through his family foundation, he realized he had much to learn.

“Seeing other experienced philanthropists at work helped us develop our own philosophy and approach,” says Shapira, now Areivim’s co-chair.

Today the Shapira Foundation’s biggest project is Onward Israel, an internship program for Birthright and other teen trip alumni that aims to impart a long-lasting connection with Israel. The project is officially endorsed by Areivim.

The Areivim group meets every three or four months. The hope is that successful initiatives piloted by Areivim will attract major funding down the line.

Rabbi David Gedzelman, president d CEO of the Steinhardt Foundation for Jewish Life, believes that Hebrew fluency, connection to Israel and positive Jewish experiences are excellent ways to achieve

24 | Jewish News | Investments | January 22, 2018 | jewishnewsva.org

that.

“The vast majority of American Jews don’t see themselves as religious people.

Yet we believe that they have an interest in connecting to Jewishness somehow,” Gedzelman says. “How do we create opportunities for Jewish content that don’t necessarily require theological commitment? Learning and internalizing modern Hebrew language is such an opportunity.”

One of Areivim’s most successful endeavors has been Hebrew Public, formerly known as the Hebrew Charter School Center. Led by Steinhardt’s daughter Sara Bloom, the network manages four schools in New York City and has another six affiliates across the country.

The publicly funded charter schools are prohibited from teaching religion, but they can teach about Israel and Hebrew language. On a recent visit to Harlem Hebrew in Manhattan, about 25 kindergartners, including non-Jewish African-American and Hispanic children, comfortably responded in Hebrew to a teacher’s questions. None of the children had ever spoken Hebrew until they started school just a few months earlier.

Another Hebrew-focused Areivim effort, Kayitz Kef (also known as Hebrew at Camp), brings the charter schools’ approach to language immersion to Jewish summer day camps. Areivim partners have invested over $1.3 million in Kayitz Kef since 2013. This summer, Kayitz Kef’s fifth, the program ran at 10 day camps, and its backers want to expand it further.

Areivim is also taking another successful program, Israeli Scouts (called Tzofim in Hebrew), and translating its approach for English-speaking American Jews.

The United States has 22 Hebrewlanguage chapters of Israeli Scouts, with most of the 3,500 participants the children of Israelis who want their kids connected to the language and culture of their home country. Last September, after a year of planning and Areivim’s backing, Israeli Scouts opened its first two Englishlanguage chapters, in Manhattan and on Long Island.

Another area of Areivim focus is food.

The group endorses OneTable, an initiative launched in 2014—with the help of two Areivim members, the Steinhardt Foundation and the Singer Foundation— that has underwritten thousands of Shabbat meals hosted in locations ranging from Brooklyn to San Francisco. The idea is to support 20-and 30-somethings to engage and host other millennials for Shabbat dinner, coach them when needed and make sure the approach is fun.

The dinners vary wildly, from a Chabad-organized dressy cocktail party for young professionals on Manhattan’s Upper East Side to a Shabbat dinner in Philadelphia themed “Christmukkah.”

A newer Areivim-endorsed program, the Jewish Food Society, founded with help from the Singer Foundation and support from several of the Areivim partners, is using events, an online recipe archive and storytelling to revitalize Jewish culinary traditions, including recipes from Tehran to Teaneck.

Culinary events “attract people who are completely unaffiliated and maybe are more interested in cooking,” says Areivim’s Gubenko. “It’s very young, hip.”

Up next for Areivim: how to make a lasting impact on Jewish identity through early childhood education.

“We’ve got to get it to work,” Steinhardt says. “It’s good to get kids when they’re young.”

Five funders—two of them Areivim members—have committed to funding a planning grant to explore the best direction for investment in early childhood education.

“To date, Jewish early childhood education has not attracted large-scale philanthropic investment,” Gedzelman says. “But we’re trying to significantly change that.”

This article was sponsored by and produced in partnership with the Steinhardt Foundation for Jewish Life. This article was produced by JTA’s native content team.)

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jewishnewsva.org | January 22, 2018 | Investments | Jewish News | 25