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American Friends Of The Israel Free Loan Association Inc

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Nonprofit Overview

Causes: Chambers of Commerce & Business Leagues, Emergency Assistance, Gift Distribution, Human Services, Victims Services

Mission: HELPING PEOPLE TO HELP THEMSELVES The American Friends of the Israel Free Loan Association was established to assist in the outstanding Hebrew Free Loan work of the Israel Free Loan Association. The American Friends is a free-standing nonprofit organization approved by the IRS as a 501(c)(3) public charity.Since 1990 the Israel Free Loan Association (IFLA) has been providing interest free loans to thousands of Jewish needy Israelis to help them over a temporary financial crisis. This non-profit organization, operated primarily by volunteers, offers loans for specific needs such as loans to new immigrants from any country ($1,000), for Ethiopians moving from caravans to permanent housing ($3,000), for parents raising a seriously handicapped child at home ($3,000), for single parent or large families ($1,000), for student tuition ($2,000), for small business loans to both immigrants and struggling Israelis ($15,000) ,and for special emergency situations.Applicants for loans must be employed and have a steady income, and must have two guarantors who are also employed. Loan repayments are reasonable and flexible, but the basic principle is that loans must be repaid on schedule so that they can be reissued to other borrowers. The IFLA is supported by private donations, grants and legacies from good hearted people in Israel and other countries, and NO OVERHEAD is deducted from their donations. Expenses are covered by special donationsfrom a few outstanding philanthropist families, but the organization can use more earmarked overhead grants for office expenses. No funding whatsoever has come from government , the Jewish Agency or the J.D.C., but only from private individuals and foundations.The Israel Free Loan Association is a highly regarded national Israeli association and has received the prestigious Presidential Award for Outstanding Volunteer Organization, and the Mayor of Jerusalem Citation for Outstanding Nonprofit Activity. The Board approves nearly 150 new loans each month and has provided over $ 6.5 million in loans so far. The founder and Chairman (without salary) of the IFLA is Prof. Eliezer Jaffe.The office in Jerusalem is rented for the grand sum of $1.00 per month thanks to a very special donor family. The IFLA provides a hand up, not a hand down, to help people help themselves out of a temporarily difficult economic situation, and the staff treats all borrowers with dignity and respect.The IFLA welcomes both borrowers and donors, and see the organization as the vehicle that brings these two together in a unique partnership that is in the best tradition of Judaism and modern philanthropy. This is not charity,but constructive self-help that our sage Maimonides praised above all other forms of help. Major donors receive an annual report of loans made from their loan account at the IFLA, and can dedicate the fund in the name of a loved one. These perpetual funds are an excellent way to remember and be remembered, and many people have chosen to open an interest free loan account in their name at the IFLA during their lifetime as well as mentioning the IFLA in their Will. This is a very important, accountable way to help needy people that allows the IFLA to meet the mounting requests for loans as well as open new loan categories. At present, the IFLA is particularly interested in finding funds for providing interest free loans to young married couples who are Army veterans and in need of such loans to help them purchase their own first apartment. This is a new loan category which is crucial to establish for these couples.The Israel Interest Free Loan Association in Israel welcomes both borrowers and donors to visit their office at 64 Azza Street, Jerusalem 92384, telephone 972-2- 5630248, fax 972-2-5669504. The IFLA website is http://www.freeloan.org.il and E-mail address is IFLA@freeloan.org.il. Donations are tax deductible in Israel, the USA, Canada and the U. K. and a brochure with details is available on request from the Jerusalem office as well as the American Friends office:Mr. Jack Balsam,175 Benn

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