Another Jewish foundation appears to have been a victim of Bernard Madoff’s fraudulent investment firm.
According to its 2006 Form 990, the Rockville, Md.-based Charles I. and Mary Kaplan Foundation had more than $29 million of its $30 million in assets invested in a "Madoff brokerage account."
The foundation — and two of its officers, Edward and Irene Kaplan — are major donors to the Jewish Federation of Greater Washington and numerous other Jewish institutions in the Washington area, and the foundation funded the Jewish demographic study of the nation’s capital in 2003. Irene Kaplan is the most recent past president of the Jewish Federation of Greater Washington. She refused to comment when reached on Monday evening, saying, "I don’t have anything to add" when asked if she had been affected by the Madoff fraud.
