...Hadassah’s treasurer, Marci Natan, has acknowledged to donors that Hadassah withdrew $130 million over the years.Welcome to the world of not-for-profit-fundraising where the main talent you will need for success is the ability to speak out of both sides of your mouth.
“They are not publishing it, but they are telling donors who call,” said the source. “The money went for all of our projects — a college and two hospital campuses and for the support of a number of youth aliyah programs.”
One of the callers to Natan, Stan Epstein of Santa Monica, Calif., expressed surprise when she told him of the $130 million. And he said she told him that Hadassah made another $50 million with Madoff that the organization reinvested with him.
“I object to the fact that they have never told the public that they made $180 million with Madoff while they are appealing to the public for money as though they lost $90 million,” Epstein said...more
Tangled web follow-up: The Jewish Week reports that after sending out millions of letters and press releases claiming a $90 million loss in the Madoff scandal, the organization now admits that over a 20 year period of investing with the fallen guru, they were way ahead in their Madoff accounts. Stewart Ain reports in "Hadassah Reveals $130 Million Windfall From Madoff,"