FEGS, the giant Jewish social service agency, filed for bankruptcy in the Eastern District of New York on March 18, the latest step in the months-long collapse of the massive charity. The Chapter 11 filing comes nearly two months after FEGS admitted it would close amid mounting financial problems. Concurrent with the filing, FEGS announced…
The Jewish social services behemoth FEGS Health & Human Services will soon file for bankruptcy, the Forward has learned. That filling could come as early as March 18, according to someone with knowledge of the decision, who asked not to be named because of the confidential nature of the process. FEGS did not respond to…
The Jewish social service charity FEGS dumped increasingly large sums into a for-profit subsidiary in the years prior to its mysterious downfall in January, the Forward has learned. The AllSector Technology Group, a for-profit corporation owned by FEGS, was meant to earn money for FEGS. Instead, in 2011, FEGS began paying out massive sums to…
The collapse of one of the largest Jewish charities in the United States is raising concerns about the future of the Jewish social service ecosystem. The massive New York-based social service charity known as FEGS said on January 30 that it would shut down, just seven weeks after it revealed a stunning, previously undetected $19.4…
The massive Jewish social service agency FEGS is shutting down, Crain’s New York Business reported on Friday. The Forward reported December 12 that the agency had discovered it lost $19.4 million in its last fiscal year. FEGS had an annual budget of $252 million, and claimed to aid over a hundred thousand New Yorkers per…
Days after one of the largest Jewish social service not-for-profits in the country announced it had unexpectedly lost $19.4 million, the mystery surrounding the catastrophic shortfall is deepening. FEGS, a New York City-based social service organization, will not say when or how it learned of the $19.4 million loss. Nor will FEGS do more than…
The massive New York Jewish social service agency FEGS will cut programs after discovering it lost a startling $19 million in the 2014 fiscal year, the Forward has learned. The organization abruptly dropped its new CEO on the day it disclosed the loss to staff. FEGS revealed the $19 million loss in an all-staff email…
100% of profits support our journalism
