In recent days, you have likely seen various articles about Yeshiva University’s investment performance, debt, and endowment. We stated we will not engage with the media further in this regard, but we believe it is important that you, as critical partners in Yeshiva’s present and future, know some key facts about Yeshiva’s financial situation, investment performance and policies.
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I’ve promised to keep you apprised of significant developments as we continue the important work of building a sustainable Yeshiva University for generations to come.
A number of positive initiatives are underway, but I am writing to you primarily to report that the University has just entered into an agreement to sell 10 residential properties in close proximity to our Wilf Campus in Washington Heights. This sale delivers a tremendous return on the University’s original investment and provides an infusion of cash that will be used to strengthen our financial position and enhance our ability to invest in our core objective: delivering an unmatched educational experience for our students.
Yeshiva University has been a presence in Washington Heights for almost a century and we couldn’t be prouder to call this vibrant neighborhood our home. YU’s purchase of the buildings seven years ago was intended to enhance our presence here and to benefit all of Washington Heights, a neighborhood whose diversity makes it so exceptional. That objective has been achieved, and the buyer respects what we have built around Wilf Campus and shares our commitment to preserve the special flavor of the community. Read the rest of this entry…
Yeshiva University and its affiliated Rabbi Isaac Elchanan Theological Seminary (RIETS) today issued the following statement in response to media reports that one of our rabbinical students may be denied ordination due to his participation in a “partnership minyan”: Read the rest of this entry…
We are gratified that the federal court recognized the validity of our arguments in dismissing the case against Yeshiva University, which has been an incredibly trying process for all involved. Our thoughts and remorse remain with those affected and harmed, and the confidential counseling services of Yeshiva University remain available to them.
Now we continue to move forward. Yeshiva University and its high schools provide our students with a safe and secure environment, while constantly refining our policies and procedures to ensure they meet the absolute highest standards.
As North America’s Torah-informed university, we recognize our responsibility to assume a leadership role in combating abuse within the community. While we currently offer a range of services and educational programs to assist synagogues, schools, and other institutions in addressing the very real issue of abuse, we continue to look for further ways to engage this issue.
Above all, we remain vigilant in ensuring the safety and wellbeing of our children.
Earlier today, Sullivan & Cromwell LLP released its report marking the completion of the firm’s eight-month investigation into allegations of past abuse at Yeshiva University High School for Boys. There are findings set forth in this report that serve as a source of profound shame and sadness for our institution. On behalf of the Board of Trustees and the entire University community, I express my deepest and most heartfelt remorse, and truly hope that our recognition of these issues provides some level of comfort and closure to the victims. Although we cannot change the past, we remain committed to making confidential counseling services available to those individual victims in the hope they can achieve a more peaceful future.
It is with them in mind that we move forward in continuing our efforts to lead our community away from a culture of apathy regarding issues of abuse and toward one of action, change and growth.
Today, the University is a safe place infused with a culture of warmth. For years we have enacted and enforced policies and procedures to protect our students and community members. We will continue to regularly review and, when appropriate, enhance those policies and procedures to ensure they always meet the standard of “best in class.” YU must continue to foster a culture of integrity, caring, responsiveness and, above all, place the safety of our students first. Read the rest of this entry…
Dear Members of the Yeshiva University Community,
Last December, in response to reports of past abuse at Yeshiva University High School for Boys, the Yeshiva University Board of Trustees retained the law firm of Sullivan & Cromwell LLP to conduct a full and independent investigation of the allegations as well as to review current policies and procedures. Sullivan & Cromwell, in turn, engaged T&M Protection Resources to provide specialized knowledge and expertise with respect to allegations of abuse and abuse prevention.
The Board has been advised that Sullivan & Cromwell’s investigation is now complete. The report of the investigation, which we encourage you to read, will be issued at 9:30 a.m. this morning to both the public and the Board of Trustees at the same time: http://www.yuinvestigationreport.com/.
We would like to take this opportunity to thank Sullivan & Cromwell and T&M for all of their work. More importantly, we would like to thank the many individuals who, despite the personal and emotional sacrifice associated with doing so, made themselves available for interviews and who otherwise assisted in the investigation.
Board of Trustees
Editor’s note: In an effort to keep the Yeshiva University community up-to-date on the ongoing independent investigation into allegations of past abuse, YU News will continue to share all official statements with the public in the post below.
UPDATED Statement from the Yeshiva University Board of Trustees (January 16, 2013)
In light of recent inquiries, the Board of Trustees of Yeshiva University would like to clarify the scope and nature of the investigation currently being conducted by Sullivan & Cromwell LLP, with the assistance of Lisa Friel and TM Protection. Sullivan & Cromwell has been given unfettered access to all Yeshiva personnel, documents, correspondence and other records, including raw computer data, that could be relevant to its investigation. Sullivan & Cromwell has also been given the unrestricted authority to pursue any leads that may shed light on all matters related to the investigation. The Board of Trustees is fully aware that it will be judged on the manner in which it conducts this critical and sensitive matter and, in that connection, will, as always, seek to meet, if not exceed, the best possible practices employed by institutions that have confronted similar circumstances. We expect the findings of the investigation will be communicated to the public following completion of the investigation. Read the rest of this entry…