Combined Jewish Philanthropies has received more than $11 million from George and Liz Krupp to establish a fund to help middle-class families afford tuition at five Jewish day schools in the greater Boston area, the Boston Globe reports.
The challenge gift will establish the Krupp Fund for the Future, with the aim of encouraging the five schools to prepare for their financial future. According to the terms of the gift, each school will receive $500,000 from the fund for every $1 million it raises in donations and $250,000 for every $1 million it raises in long-term commitments such as bequests and planned gifts.
The challenge is designed to encourage the schools, which already give financial aid to low-income families, to raise money to help middle-income families. The participating schools are Boston’s Jewish Community Day School in Watertown, Gann Academy in Waltham, Maimonides School in Brookline, the Rashi School in Dedham, and the Solomon Schechter Day School of Greater Boston in Newton.
George Krupp, who once taught in a Jewish day school, is the CEO of Berkshire Property Advisors. "I view day schools as the main producer of Jewish leadership in the United States," he told the Globe, "but they've become unaffordable. The model is unsustainable, especially as it relates to the middle class."