07
Jan
09

More Madoff “Aftershock”

Waiting for me in my e-mail inbox, from Brandeis University President Jehuda Reinharz:

Let me outline for you the current challenges. While some saw signs of an impending global financial crisis last year, no one could have predicted the intensity of the recession, or the Madoff debacle, and the major blow it would deal to philanthropy. The Madoff aftershock produced a second wave of financial crisis felt acutely in Boston’s major not-for-profit institutions, as well as many other cities in the United States and abroad. While it was a relief to report that the university never invested money with Bernard Madoff, sadly, some of Brandeis’s most staunch and generous supporters suffered major losses. It is very hard to calculate the immediate and long-term effects on the university’s fundraising results.

I’ve never been a big nor frequent donor to Brandeis – and I won’t exactly be passing on windfall profits to them this year either.  However, I can step up the frequency a bit, with some small donations here and there.  Maybe it will help some undergrad buy that extra book she needs…or some beers to take the edge off during this crisis.  Assuming she’s a senior in college, of course…

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