Orah Fund’s $500k milestone
THE Orah Fund – an Australian investment fund that donates all management fees to Jewish charities in Australia and Israel – reached a major milestone last week of delivering just over $500,000 worth of grants since it was established in December 2016.
THE Orah Fund – an Australian investment fund that donates all management fees to Jewish charities in Australia and Israel – reached a major milestone last week of delivering just over $500,000 worth of grants since it was established in December 2016.
It was the latest round of donations – amounting to $145,025 – that enabled the half-million-dollar mark to be met in less than three years.
Co-director Carole Pillemer said the real strength of this way of giving, and the reason the fund was created, was to provide a mechanism where grants could be raised and delivered to important Jewish Australian and Israeli charities without requiring individuals to make any donations, as all donations are generated from the fund’s managers waiving their fees.
“That way there is no dilution of investor’s returns,” she said.
“We are excited to grow the Orah Fund, as this will translate directly into more donations for worthy charities.”
She added that the fund is ideal for “anyone interested in doing well – and also doing good – at the same time.”
NSW-based charities to benefit from the latest round of donations include $50,000 for JCA, donations of $5000 or more to the Friendship Circle’s Friends@Home Program and Jewish House’s peer support service, $3500 to Courage to Care NSW, and $2500 to JConnect Sydney.
Allocations were also made to organisations that provide assistance to Israelis in need.
These included $16,500 to UIA for its Aleh, Tzohar and NET@ programs, $14,000 to JNF for its Dualis and Haverim Le’Refuah programs, $6000 to Save a Child’s Heart to cover the cost of flying eight children from Rwanda to Israel for life-saving surgery, $5000 for Magen David Adom’s breast milk bank, $2500 to ZDVO, and $1500 to Boys Town Jerusalem.
The Orah Fund’s next round of donations will be allocated in December 2019.
For more information, visit theorahproject.com.au.
SHANE DESIATNIK
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