Chronicle of Philanthropy: Sydelle F. Meyer Charitable Foundation will close


In its daily update on Madoff’s effect on the charity world, the Chronicle of Philanthropy added a few more names to the growing list of Jewish charities that took losses.

The Chronicle focused on how hard charities in Palm Beach, Fla., had been hit.

Among them was the Sydelle F. Meyer Charitable Foundation, in West Palm Beach, which the Chronicle reported would be closing because its $3.7 million in assets were entirely invested in Madoff funds.

The foundation supported local arts groups, among other causes, said the Chronicle.

It also elucidated some of the losses of Gift of Life, a Jewish bone marrow registry:

Gift of Life, a Jewish bone-marrow registry and cord blood bank based in Boca Raton, Fla., has already received calls from donors withdrawing $2-million worth of pledges, according to Jay Feinberg, the charity’s founder and executive director. That accounts for the entire recruitment budget for 2009. The charity has 130,000 donors on its registry and hopes to get to 300,000; the more donors it has, the more likely it can find a match for someone suffering from a blood-related disease.

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