Jewish school nets $265,000 in fund-raiser Money will cover much of pay owed teachers

June 24, 1993|By Staff Report

An emergency fund-raising effort has produced money to cover back pay for teachers at the Talmudical Academy through May 15, and at least one more paycheck will be coming soon, organizers say.

"We're moving along," said Rabbi Tzi Hersh Weinreb of the Shomrei Emunah Congregation in the 6200 block of Greenspring Ave. Rabbi Weinreb is leading the fund-raising effort.

In two weeks, $265,000 of the $440,000 needed to pay teachers for the entire academic year has been collected.

Dr. Michael J. Elman, new president of the school's board of directors, said efforts are continuing to resolve the school's larger financial problems.

The 640-student Jewish academy is negotiating to save the school for boys from foreclosure of a $1.1 million mortgage by the Resolution Trust Corp.

The Pikesville institution's total debt is between $4 million and $5 million to various lenders.

School officials are working with the Associated Jewish Community Federation of Baltimore to refinance the debt.

Before the fund-raising began June 12, teachers had not been paid since April 21.

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