The Jewish social services behemoth FEGS Health & Human Services will soon file for bankruptcy, the Forward has learned.
FEGS dumped millions into a for-profit tech subsidiary even as its own finances went south. By doing so, did the Jewish social service charity kill its own chances of surviving?
FEGS was long known as one of the most stable and largest Jewish social service agencies. If it could go belly up so quickly, what groups could be in danger of failing next?
The massive Jewish social service agency FEGS is shutting down, Crain’s New York Business reported on Friday.
FEGS had a reputation as a stable and well-managed social service agency. It stunned the non-profit world by revealing a $19 million loss, a shakeup at the top and looming cuts.
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.