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!
  • A grumpy Jewish grandfather is wary of his granddaughter's celebrating Easter with the in-laws. But the Seesaw says it might just make her appreciate Judaism more. What do you think?
  • “Twist and Shout.” “Under the Boardwalk.” “Brown-Eyed Girl.” What do these great songs have in common? A forgotten Jewish songwriter. We tracked him down.
  • What can we learn from tragedies like the rampage in suburban Kansas City? For one thing, we must keep our eyes on the real threats that we as Jews face.
  • When is a legume not necessarily a legume? Philologos has the answer.
  • "Sometime in my childhood, I realized that the Exodus wasn’t as remote or as faceless as I thought it was, because I knew a former slave. His name was Hersh Nemes, and he was my grandfather." Share this moving Passover essay!
  • Getting ready for Seder? Chag Sameach! http://jd.fo/q3LO2
  • "We are not so far removed from the tragedies of the past, and as Jews sit down to the Seder meal, this event is a teachable moment of how the hatred of Jews-as-Other is still alive and well. It is not realistic to be complacent."
  • Aperitif Cocktail, Tequila Shot, Tom Collins or Vodka Soda — Which son do you relate to?
  • Elvis craved bacon on tour. Michael Jackson craved matzo ball soup. We've got the recipe.
  • This is the face of hatred.
  • What could be wrong with a bunch of guys kicking back with a steak and a couple of beers and talking about the Seder? Try everything. #ManSeder
  • BREAKING: Smirking killer singled out Jews for death in suburban Kansas City rampage. 3 die in bloody rampage at JCC and retirement home.
  • Real exodus? For Mimi Minsky, it's screaming kids and demanding hubby on way down to Miami, not matzo in the desert.
  • The real heroines of Passover prep aren't even Jewish. But the holiday couldn't happen without them.
  • Is Handel’s ‘Messiah’ an anti-Semitic screed?
  • 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.