Five Jewish day schools in Greater Boston are set to receive money from an $11.25 million fund intended to help middle-class families pay tuition.
George Krupp, chief executive of Berkshire Property Advisors, and his wife, Liz, have created the Krupp Fund for the Future, as a “challenge gift” to support and encourage Jewish day schools to prepare for their financial future. Schools will receive money from the fund once they “work for it” and also raise money, George Krupp said in a telephone interview Friday.
“I view day schools as the main producer of Jewish leadership in the United States,” Krupp said, “but they’ve become unaffordable. The model is unsustainable, especially as it relates to the middle class.”
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.
Krupp, who once taught in a Jewish day school and sent his children to one, said he understood the benefits of such schools from firsthand experience.
He said the challenge was meant as a catalyst for the schools, which already give financial aid to lower-income families, to raise money to help middle-income families. Otherwise, such families soon will not be able to afford tuition, and the schools may have to close, Krupp said.
“This is a really critical time for the Jewish community,” Krupp said.
For every $1 million a school raises in donations, it will receive $500,000 from the Krupp fund.
For every $1 million a school raises in long-term commitments, such as money willed to the school, it will receive $250,000 from the fund. Combined Jewish Philanthropies of Boston will manage the fund.
“Day schools are one of the single best investments we can make to secure a vibrant future for the American Jewish community,” Barry Shrage, president of Combined Jewish Philanthropies, said in a statement. “It is critical that we act now to make sure that future is secured.”