JCC: Thanks for Your Interest

Over five years ago, when the JCC was preparing to launch a major capital campaign to upgrade and expand its College Avenue campus, the Foundation and Federation agreed to cover up to $100,000 of interest expenses on the bank loans needed to cover the construction costs, and also collateralized the loan. With all but a handful of the campaign pledges now paid off, the five-year “free interest” deal now comes to a happy end.  Said the Foundation’s  CFO Tammy Fitzpatrick about the interesting arrangement, “The bank called to inform me that the JCC loan is paid in full and that collateral for the loan  has been  released.”  She added, “There is a wonderful story to be told here about how the Foundation and Federation pulled resources for the good of the community — and it was an extreme success.”

Leave a reply