The American Jewish Committee and the American Jewish Congress are in merger talks, reports The Jerusalem Post.
According to the story, the talks are being prompted by the AJCongress’ dire financial situation:
Even before the financial collapse, which may have cost the group as much as 90 percent of its roughly $24 million endowment, the congress lacked a large membership and donor base.
According to its Internal Revenue Service Form 990 for 2008, its net assets dropped from $16.9m. in 2007 to $3.8m. in 2008. It has spent much of the time since the collapse trying to find a replacement financial base.
Now, The Jerusalem Post has learned, theorganization is speaking to the AmericanJewish Committee in an effort to initiate some type of merger with the much larger advocacy group, whose 2008 Form 990 showed net assets of $117m.
The 104-year-old committee is one of the largest and most influential US Jewish organizations.
The contacts are still in the initial stages, though congress officials have been considering a merger for some time, according to sources.