February 13, 2012 Binyamin Rose: Back to the Bunker: How a life-risking act by a Christian family during the Holocaust saved a family and built a thriving community a world away Danielle Kurtzleben: The Peace Process is over. Finally Susan Johnston: The Myth of Economic Inequality Menachem Wecker: Business Schools Teach Real Estate Despite Troubled Housing Market The Kosher Gourmet by Diane Rossen Worthington: Farro Salad: An ancient grain is now new again as the base of a tasty tangle of flavorsome vegetables, chickpeas and salami February 10, 2012 Rabbi Nathan Lopes Cardozo: The biblical case against small-mindedness involved diminishing His precious prophet Caroline B. Glick: The Peace Process is over. Finally Lisa M. Krieger: Man with defibrillator demands access to his own heart's information David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage Rachel Koning Beals: Gen X Women Continue to Shrink Gender Investing Gap The Kosher Gourmet by Faith Durand: Who Says You Can't Make Restaurant Favorites at Home?: MANGO AND STICKY RICE February 9, 2012 Jeff Strickler: An argument a day keeps the divorce away, they say Clifford D. May: CAIR's Crusade against The Third Jihad Melissa Healy: Study finds jolt to the brain boosts memory Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation Emily Brandon: 10 Necessities for a Great Retirement Spot The Kosher Gourmet by Diane Rossen Worthington: Winter Squash and Red Swiss Chard Risotto is Colorful Cozy Cold Weather Fare (includes detailed dos and don'ts) February 8, 2012 Rivy Poupko Kletenik: Tree hostility: The auspicious history of the evolution of Tu B'Shevat Steven Emerson: Planting Trees is Racist?! Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups Anne Applebaum: Russia's Potemkin democracy Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs Emily Brandon: 10 Necessities for a Great Retirement Spot The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets) February 7, 2012 Kathleen Hennessey and Christi Parsons: Obama not worried that birth-control move will hurt his re-election chances with Catholics, other faithful Caroline B. Glick: Obama's rhetorical storm Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one Suzanne Bohan: Leaping lizards! 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Glick: Fool me twice Jonathan Tobin : Adelsonphobia Strikes in Nevada Caucus Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US Kimberly Palmer : 8 Ways to Get Ready for Retirement Now Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling The Kosher Gourmet by Faith Durand: A quick cookie recipe: Hazelnut and Olive Oil Shortbread: Sweet, Nutty, and Savory February 2, 2012 Rabbi Yaakov Rosenblatt : Welcome Home, Governor Perry Jim Carney: Wrong number call may have saved her life Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran Kelsey Sheehy : 5 Tips for Choosing an M.B.A. Concentration Rachel Koning Beals : Investors Increasingly Tap Social Media for Stock Tips Tina Susman: For woodchuck rescuer, every day is Groundhog Day The Kosher Gourmet by Leela Cyd Ross : Savory vegetable pie is a taste of European bistro with minimal effort and maximal flavor February 1, 2012 Nara Schoenberg: What to do when you've been dissed Michelle Malkin: First, They Came for the Catholics Brian Bennett: US officials see increasing threat of domestic attack from Iran Lisa M. 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May: How terrorists lose their stigma Suzanne Bohan: Vanquishing social anxieties without drugs Lisa Fernandez and Sean Webby: In alternative lifestyle, domestic violence means men as victims and women being abusers Danielle Kurtzleben: The 10 Best Cities for Finding a Job The Kosher Gourmet by Diane Rossen Worthington: Three bean soup with gremolata January 18, 2012 Edward I. Koch: Why the Crocodile Tears, Hillary? David G. Savage: Supreme Court to Principals: You have been warned George Friedman of Stratfor: Iran, the U.S. and the Strait of Hormuz Crisis Jason Koebler: 'Holy Grail' of Flu Vaccines by Next Year Alex M. Parker: The Off-the-Radar Congressional Targets of 2012 The Kosher Gourmet by Susan Russo: Got soft apples? Make Apple-Maple Walnut Breakfast Quinoa January 17, 2012 Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be David G. 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Jewish World Review Sept. 14, 2009 / 25 Elul 5769 Investing charity money in a sure-fire investment By Rabbi Dr. Asher Meir http://www.JewishWorldReview.com | Q.I'm the head of a non-profit organization. The organization has some spare cash that I am convinced I can invest at a profit. Should I go ahead and benefit my organization in this way? A. Talmud has an interesting discussion regarding the propriety of investing charity funds. Rabbah asked Rav Yosef: What do we do with orphans' funds? He said, we deposit them in court, and distribute them little by little. He said, then you exhaust the capital! He said, what then should we do? He said, we investigate a person who has known assets [to collect from in case he should lose the deposit], and deposit their money with him near to profit and far from loss [the active partner splits profits but bears all losses]. . . That's very well if we find someone who has certain assets, but if we can't find someone who has certain assets shall we let the orphans' funds dissipate? Rather, Rav Ashi stated: We find a person of stable property, reliable, who is obedient to the Torah and is not under a ban, and we deposit it by him in court.(1) The sages of the Talmud are trying to find the right balance between risk and return for charity funds – in this case, money belonging to minor orphans and being administered by a court-supervised guardian. Rav Yosef is unwilling to take any risk, and advocates simply disbursing the money. Rabbah is willing to invest only if the investor is willing to personally bear any losses and can actually provide security for potential losses in advance – certainly a very unusual situation. Rav Ashi is the most lenient; he is willing to settle for the case where the investor agrees to bear the losses and appears willing and able to do so. Based on Rav Ashi's opinion, you can go right ahead and invest the money if you can personally cover any losses. Of course you would need the approval of the board of your charity before making such a far-reaching step. However, it is extremely unusual nowadays for a private individual to be willing or even able to personally make good losses of the charity. (If the backer was sure of the quality of the investment it would make much more sense to borrow the money and invest it himself, giving any profits to charity.) So it seems that making even prudent investments could be quite difficult. Later authorities, in response to changing situations, acknowledged that sometimes the requirement for co-signing could be waived, if it made it prohibitively difficult to invest charity funds productively.(2) However, there is still a requirement for careful oversight, expressed in the passage by the need for someone stable, reliable and obedient, and for proper documentation ("deposit it by him in court"). Experience has shown that the only way to do this effectively is by having an investment committee made up of a number of experienced experts who have the best interest of the charity foremost. There is no way for a single individual to exercise the appropriate degree of judgment and knowledge. This is especially true for someone like you, whose judgment would be colored by his involvement in the day-to-day management of the organization. If you believe that the future interests of the organization would be best served by investing its funds in something more risky than a bank account or CD, you should recommend to the board that they establish a properly constituted investment committee for this purpose. Another route: if you are so certain that this investment is a sure thing, you might want to invest your own money and promise to give a certain fraction of the returns to the charity. But experience shows that there is no way to know in advance if any investment is a sure thing. SOURCES: (1) Babylonian Talmud, Bava Metzia 70a. (2) Cf. R. Avraham ben Mordechai HaLevi, response Ginas Veradim, Choshen Mishpat IV:1. Interested in a private Judaic studies instructor — for free? Let us know by clicking here. Every weekday JewishWorldReview.com publishes inspiring articles. Sign up for our daily update. It's free. Just click here. To comment or pose a question, please click here. ARCHIVES JWR contributor Rabbi Dr. Asher Meir, formerly of the Council of Economic Advisers in the Reagan administration, is Research Director of the Business Ethics Center of Jerusalem, Jerusalem College of Technology. THE JEWISH ETHICIST, NOW IN BOOK FORM You've enjoyed his columns on JWR for years. Now the Jewish Ethicist has culled his most intriguing — and controversial — offerings in book form. HARDCOVER PAPERBACK Sales help fund JWR. © 2009, The Jewish Ethicist is produced by the JCT Center for Business Ethics