Hebrew College Will Sell Building To Eradicate $32 Million Debt
The Hebrew College in Boston must sell its building as part of a deal to free itself of a $32.1 million debt that threatened its existence, according to the school’s president.
Rabbi Daniel Lehman sent a letter to the college’s board members Nov. 18 telling them that the college has struck a deal with its creditor to eliminate its obligation.
As part of the agreement, Hebrew College must put up its building for sale, with the proceeds going to the creditor.
“Together with the nearly 50 percent reduction in operating expenses over the past three years, as well as changes in management and board composition, the planned resolution of our debt will pave the way for sustainable, responsible growth in the years ahead,” Lehman wrote. “We are grateful for our creditor’s willingness to work with us to reach this outcome.”
Why I became the Forward’s Editor-in-Chief
You are surely a friend of the Forward if you’re reading this. And so it’s with excitement and awe — of all that the Forward is, was, and will be — that I introduce myself to you as the Forward’s newest editor-in-chief.
And what a time to step into the leadership of this storied Jewish institution! For 129 years, the Forward has shaped and told the American Jewish story. I’m stepping in at an intense time for Jews the world over. We urgently need the Forward’s courageous, unflinching journalism — not only as a source of reliable information, but to provide inspiration, healing and hope.
Support our mission to tell the Jewish story fully and fairly.
