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!
  • British Jews are having their 'Open Hillel' moment. Do you think Israel advocacy on campus runs the risk of excluding some Jewish students?
  • "What I didn’t realize before my trip was that I would leave Uganda with a powerful mandate on my shoulders — almost as if I had personally left Egypt."
  • Is it better to have a young, fresh rabbi, or a rabbi who stays with the same congregation for a long time? What do you think?
  • Why does the leader of Israel's social protest movement now work in a beauty parlor instead of the Knesset?
  • What's it like to be Chagall's granddaughter?
  • Is pot kosher for Passover. The rabbis say no, especially for Ashkenazi Jews. And it doesn't matter if its the unofficial Pot Day of April 20.
  • A Ukrainian rabbi says he thinks the leaflets ordering Jews in restive Donetsk to 'register' were a hoax. But the disturbing story still won't die.
  • Some snacks to help you get through the second half of Passover.
  • You wouldn't think that a Soviet-Jewish immigrant would find much in common with Gabriel Garcia Marquez. But the famed novelist once helped one man find his first love. http://jd.fo/f3JiS
  • Can you relate?
  • The Forverts' "Bintel Brief" advice column ran for more than 65 years. Now it's getting a second life — as a cartoon.
  • Half of this Hillel's members believe Jesus was the Messiah.
  • Vinyl isn't just for hipsters and hippies. Israeli photographer Eilan Paz documents the most astonishing record collections from around the world:http://jd.fo/g3IyM
  • Could Spider-Man be Jewish? Andrew Garfield thinks so.
  • Most tasteless video ever? A new video shows Jesus Christ dying at Auschwitz.
  • 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.