Yeshiva U. Faces Growing Fiscal Crisis Amid Downgrades and Abuse Suit

Richard Joel Admits Problems as Rumors of Cuts Swirl

Storm Gathers: Yeshiva President Richard Joel has warned the flagship Modern Orthodox institution faces dark fiscal days ahead.
yeshiva u.
Storm Gathers: Yeshiva President Richard Joel has warned the flagship Modern Orthodox institution faces dark fiscal days ahead.

By Paul Berger

Published November 22, 2013, issue of November 29, 2013.
  • Print
  • Share Share
  • Single Page

Anxiety is building at Modern Orthodoxy’s flagship institution, Yeshiva University, as rumors swirl of looming cuts to address a financial crisis.

Y.U.’s official student newspaper, the Commentator, reported November 20 that the school’s president, Richard Joel, “may announce mandatory furloughs to Y.U. employees” pending an emergency meeting of the University’s board of directors.

School officials have declined to confirm or deny the report.

The Commentator story followed hard on the heels of a memo Joel sent out to faculty and staff a day earlier, warning of dire financial challenges ahead. The email was first reported by the JTA.

Several sources close to Y.U. have told the Forward that the school’s board will hold its emergency meeting early next week.

Y.U. board members did not respond to calls or emails for comment on November 19 and 20. Michael Scagnoli, a Y.U. spokesman, declined to comment on whether the meeting is taking place.

“We are talking about internal things at the university,” Scagnoli said on November 20. “So currently I am not going on the record to confirm anything like that that’s happening.”

Scagnoli said that he would have to look into whether he could provide a copy of Joel’s email to the Forward because it was private.

According to a copy of the email that the Forward obtained independently, Joel told staff: “We intended to achieve a balanced budget by this year so that we could then begin to reverse the trend of cutbacks. Despite our best efforts, we have not yet succeeded.”


The Jewish Daily Forward welcomes reader comments in order to promote thoughtful discussion on issues of importance to the Jewish community. In the interest of maintaining a civil forum, The Jewish Daily Forwardrequires that all commenters be appropriately respectful toward our writers, other commenters and the subjects of the articles. Vigorous debate and reasoned critique are welcome; name-calling and personal invective are not. While we generally do not seek to edit or actively moderate comments, our spam filter prevents most links and certain key words from being posted and The Jewish Daily Forward reserves the right to remove comments for any reason.





Find us on Facebook!
  • Why does ultra-Orthodox group Agudath Israel of America receive its largest donation from the majority owners of Walmart? Find out here: http://jd.fo/q4XfI
  • Woody Allen on the situation in #Gaza: It's “a terrible, tragic thing. Innocent lives are lost left and right, and it’s a horrible situation that eventually has to right itself.”
  • "Mark your calendars: It was on Sunday, July 20, that the momentum turned against Israel." J.J. Goldberg's latest analysis on Israel's ground operation in Gaza:
  • What do you think?
  • "To everyone who is reading this article and saying, “Yes, but… Hamas,” I would ask you to just stop with the “buts.” Take a single moment and allow yourself to feel this tremendous loss. Lay down your arms and grieve for the children of Gaza."
  • Professor Dan Markel, 41 years old, was found shot and killed in his Tallahassee home on Friday. Jay Michaelson can't explain the death, just grieve for it.
  • Employees complained that the food they received to end the daily fast during the holy month of Ramadan was not enough (no non-kosher food is allowed in the plant). The next day, they were dismissed.
  • Why are peace activists getting beat up in Tel Aviv? http://jd.fo/s4YsG
  • Backstreet's...not back.
  • Before there was 'Homeland,' there was 'Prisoners of War.' And before there was Claire Danes, there was Adi Ezroni. Share this with 'Homeland' fans!
  • BREAKING: Was an Israeli soldier just kidnapped in Gaza? Hamas' military wing says yes.
  • What's a "telegenically dead" Palestinian?
  • 13 Israeli soldiers die in Gaza — the deadliest day for the IDF in decades. So much for 'precision' strikes and easy exit strategies.
  • What do a Southern staple like okra and an Israeli favorite like tahini have in common? New Orleans chef Alon Shaya brings sabra tastes to the Big Easy.
  • The Cossacks were a feature in every European Jewish kid's worst nightmare. Tuvia Tenenbom went looking for the real-life variety in Ukraine — but you won't believe what he found. http://forward.com/articles/202181/my-hunt-for-the-cossacks-in-ukraine/?
  • from-cache

Would you like to receive updates about new stories?




















We will not share your e-mail address or other personal information.

Already subscribed? Manage your subscription.