Alef Fund Inc

Overview

Alef Fund Inc, established as a nonprofit organization, is dedicated to supporting Jewish education in Georgia through scholarship programs. Operating under the designation of a 501(c)(3) organization, Alef Fund aims to enhance the affordability and accessibility of Jewish educational opportunities for families, particularly those with children attending Jewish preschools and schools.

History

The Alef Fund was founded in response to legislative changes in Georgia, specifically the Education Expense Credit law, which allows taxpayers to receive a dollar-for-dollar state tax credit for contributions made toward student scholarships. This initiative aims to improve educational opportunities for students wishing to attend participating Jewish private schools.

Programs and Services

Alef Fund primarily focuses on providing scholarships to students in pre-kindergarten through secondary public school levels who seek admission to Jewish educational institutions. The organization’s scholarship offerings are critical for families from low to middle-income backgrounds, facilitating wider access to Jewish education.

Funding and Financials

The majority of Alef Fund’s revenue is generated through contributions, amounting to over $3.7 million in recent fiscal years. These contributions are vital as they allow Alef Fund to fulfill its commitment to awarding scholarships. The organization has successfully awarded scholarships totaling over $36 million since its inception in 2008, impacting more than 4,200 students.

In the most recent fiscal year, Alef Fund reported total assets of approximately $6.2 million and total liabilities nearing $6 million. The organization maintains a non-compensatory model for its leadership and staff, ensuring that all funds are directed towards scholarship programs rather than administrative costs.

Partnerships and Community Engagement

Alef Fund collaborates with various stakeholders, including the Jewish Federation of Greater Atlanta, to maximize the impact of its scholarship programs. The organization's partnership with GOAL, Georgia's largest student scholarship organization, enhances its ability to administer tax credits and scholarships effectively. This relationship streamlines processes and expands the support network for Jewish education across Georgia.

Recent Developments

In 2023, Alef Fund resolved operational challenges related to the submission of tax credit applications, securing a recovery of $2.6 million in pledged donations. This resolution ensures that all pledged amounts will be honored, thus maintaining the financial stability necessary for scholarship distribution to partner schools.

Conclusion

Alef Fund Inc plays a pivotal role in the landscape of Jewish education in Georgia, providing essential financial support to families and ensuring that students have access to quality educational opportunities. Through its commitment to scholarship funding, community engagement, and reliable partnerships, Alef Fund continues to strengthen the Jewish education system and support families across the state.