From the President and executive director

The Hebrew Free Loan Society, the oldest microfinance organization in New York City, has been making interest-free loans to those in need since 1892. In Jewish tradition, helping people help themselves is the highest form of Tsedaka (charity). Our loans foster economic independence while preserving the dignity of the bor-rower. Since its founding, the Society has provided over $260 million in loans to more than 870,000 borrowers, while maintaining a loss rate of less than 1%. Lent out again and again, our loan capital has the potential to help an unlimited number of people in perpetuity.

By adapting interest-free lending to meet the emerging needs of the community, the Society has remained a vital resource throughout its long history. Over the past decade, we have focused on two of the most vulnerable groups within New York’s Jewish community — immigrants from the Former Soviet Union (FSU) and large families of modest means in the ultra-Orthodox (Haredi) community. The Jewish Community Study of New York: 2011, released in June, 2012, by UJA-Federation of New York, identifies poor Haredi households as the largest group of poor people in the Jewish community. As of June 30, 2013, 56% of our loans outstanding, totaling $6.49 million, helped FSU immigrants and 22%, or $2.6 million, helped low-income Haredi families.

One of the hallmarks of the current work of the Society, while deeply rooted in Jewish tradition, is innovation. To give but a few examples: • Last year, six weeks after Hurricane Sandy devastated

New York, the Society initiated a new loan program to help FSU immigrant homeowners restore their homes to basic habitability. These loans supplied critical funding to hard-pressed families with little savings in the months before flood insurance proceeds and SBA long-term disaster loans became available. Smaller loans provided by our existing Immigrant Basic Needs Program helped immigrant renters impacted by the storm replace damaged necessities – the family’s used car, clothing, computers.

• Our “new and improved” Immigrant Student Loan Program, launched two years ago and growing rapidly, helps immigrant families, like Sasha, Luba and Natalie,

profiled in this Report, access higher education without parents or students incurring crippling levels of debt that would jeopardize their financial future.• TheSociety’sMicroenterpriseProgram

helps hard-working and self-reliant families in the immigrant and Haredi communities establish or expand small businesses as a route to economic self-sufficiency. Consistent with best

practices in domestic microenterprise, we provide culturally sensitive basic business training and technical assistance as well as interest-free credit. Ours is the only microenterprise program in North America serving these communities. Shaindy and Chaim, profiled in this Report, exemplify the impact this program has had.

• With the support of UJA-Federation of New York, we launched an intensive entrepreneurship program last year for baby boomer professionals and managers displaced by the recession. One of the first such pro-grams in the nation, it provides those contemplating self-employment with the tools to develop their business concept, determine its viability, and outline the criti-cal steps to a successful business launch. Federation has renewed its support for this program for 2013–2014.

Few organizations combine our longevity, continuity of mission, and present vigor. This year we will embark on a comprehensive consultant-facilitated strategic planning process, a major effort undertaken with a view towards ensuring our continued vitality in light of demographic and other changes within New York’s Jewish community.

Since 1892, donors committed to the singular power of the interest-free loan have enabled us to meet evolving needs in the Jewish community and beyond. Your ongoing support in our 122nd year as a New York City tradition is much appreciated.

DavidM.Karnovsky Shana Novick President Executive Director

MICROENTERPRISE. Shaindy and her husband Chaim suffered a financial reversal last year when Chaim lost his job of 14 years. Shaindy had a long-standing hobby of packaging gifts for friends and family and writing poems for their special occasions. The couple decided

to turn Shaindy’s hobby into a personalized gifts business to support themselves and their five children, ages 10 to 18.

The Society helped Shaindy develop a business plan and provided an $18,000 loan which covered half the start-up costs for a small storefront. Shaindy also took our twelve-week basic business course last spring.

Today, with our help and Shaindy’s talent and her and Chaim’s hard work, this family is well on its way to a more secure future.

u

HIGHER EDUCATION. Sasha and Luba, middle-aged professionals from Belarus, arrived in New York in the mid-nineties with their infant daugh-ter Natalie and their parents. Sasha, a chemical engineer, quickly found employment as an electrician. Luba, an

electrical engineer, returned to school to study accounting, while her mother, already beyond retirement age when the family immigrated, took care of Natalie. The couple even-tually bought a modest home in Staten Island.

Sasha and Luba are determined to help Natalie get the best possible education, and are also committed to their elderly parents, who were unable to work in this country. Natalie started an electrical engineering degree program at NYU-Polytech in the fall of 2012. Our first $7,500 loan to Sasha and Luba helped fill the gap between tuition and a scholar-ship, a subsidized Stafford loan, and Natalie’s earnings in a part-time job, as did a second $7,500 loan this past fall. They can borrow again in each of her junior and senior years.

Thanks to our interest-free loans, Sasha and Luba can help their daughter and their parents, without Natalie incurring crippling student debt or jeopardizing their own financial future.

*Names have been changed to protect the privacy of the borrowers.

making a diFFerence our Programs

MaxiMuM PurPose aMount of Loan rePayMent terMs our Partners

Basic needs or emergencies $5,000 20 months, beginning month after loan is issued

College tuition $7,500 per year $300 a month ($250 for public $30,000 total* university students), beginning month after loan is issued

Graduate school tuition $10,000 per year $300 a month, beginning month $20,000 total* after completion of degree

Vocational school tuition Varies, up to Up to 60 months, beginning $15,000† 3 months after end of program

Tuition for professionals $7,500 per year 6 years, beginning 6 months from the Former Soviet $22,500 total* after completion of degree Union retraining here in a profession

Support for ultra-Orthodox $25,000 Up to 5 years entrepreneurs starting or expanding a small business

Basic needs or emergencies $5,000 20 months, beginning month after loan is issued

Tuition for mature students $7,500 per year 6 years, beginning 6 months returning to school $22,500 total* after completion of degree

Special education tuition $30,000 No amortization. Payable in for families entitled to full promptly upon receipt and awaiting Department of Department of Education of Education settlement/ settlement/award proceeds award proceeds

Adoption-related expenses $15,000 5 years, beginning month for couples or individuals after loan is fully drawn down building a Jewish family through adoption

Down payment/closing costs $20,000 10 years, beginning month for day school teachers after loan is issued purchasing their first home

immigrant Program

Microenterprise

Large families

special education

adoption

Jewish education/ teacher Housing

Loans

our Programs

MaxiMuM PurPose aMount of Loan rePayMent terMs our Partners

Basic needs or emergencies $5,000 20 months, beginning month after loan is issued

College tuition $7,500 per year $300 a month ($250 for public $30,000 total* university students), beginning month after loan is issued

Graduate school tuition $10,000 per year $300 a month, beginning month $20,000 total* after completion of degree

Vocational school tuition Varies, up to Up to 60 months, beginning $15,000† 3 months after end of program

Tuition for professionals $7,500 per year 6 years, beginning 6 months from the Former Soviet $22,500 total* after completion of degree Union retraining here in a profession

Support for ultra-Orthodox $25,000 Up to 5 years entrepreneurs starting or expanding a small business

Basic needs or emergencies $5,000 20 months, beginning month after loan is issued

Tuition for mature students $7,500 per year 6 years, beginning 6 months returning to school $22,500 total* after completion of degree

Special education tuition $30,000 No amortization. Payable in for families entitled to full promptly upon receipt and awaiting Department of Department of Education of Education settlement/ settlement/award proceeds award proceeds

Adoption-related expenses $15,000 5 years, beginning month for couples or individuals after loan is fully drawn down building a Jewish family through adoption

Down payment/closing costs $20,000 10 years, beginning month for day school teachers after loan is issued purchasing their first home

F.E.G.S. (Brooklyn Resource Center)F.E.G.S. (Queens Resource Center)Jewish Community House of BensonhurstKings Bay YM-YWHAShorefront YM-YWHA

Crown Heights Young EntrepreneursMishkan YecheskelNew York City Department of Small Business Services

Agudath Israel of AmericaAdvocates for Children

Jewish Child Care Association

The Jewish Education Project

all loans require two creditworthy guarantors.

* Maximum amount of loan depends on number of academic years financed.† Maximum amount of loan depends on cost of program and individual circumstances.

our Loans at a gLance BaLance sheet

Loans outstanding as of June 30, 2013$11,563,000 total

June 30 2013 2012

assets Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . $1,233,000 . . . . . . . . $1,001,000

Investments, at fair market value . . . . . . . . . . . . . . . . . . . . . . $8,153,000 . . . . . . . . $7,476,000

Loans receivable, net of allowance for doubtful

accounts of $380,000 and $393,000 respectively . . . . . . . . $11,183,000 . . . . . . . $11,379,000

Contributions receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $72,000 . . . . . . . . . $154,000

Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . $23,000 . . . . . . . . . . $23,000

Furniture and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,000 . . . . . . . . . . $28,000

total assets $20,682,000 $20,061,000

LiabiLities and net assets

Liabilities Accounts payable and accrued expenses . . . . . . . . . . . . . . . . . . $408,000 . . . . . . . . . $382,000

Loans payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,650,000 . . . . . . . . $1,414,000

total Liabilities $2,058,000 $1,796,000

net assets Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,889,000 . . . . . . . $14,682,000

Temporarily restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $357,000 . . . . . . . . . $205,000

Permanently restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,378,000 . . . . . . . . $3,378,000

total net assets $18,624,000 $18,265,000

total Liabilities and net assets $20,682,000 $20,061,000

1. Includes Adoption and Jewish Education/ Teacher Housing Loan Programs.

2. Includes the Rudin Nursing Loan Program which supports graduate nursing education for nurses at selected hospitals.

3. A nonsectarian safety net program.

Microenterprise$1,333,000

11%

Student Aid2

$309,0003%

Special Education$2,206,000

19%

Immigrant Program$5,890,000

51%

Emergency Aid3

$218,0002%

JewishContinuity1

$1,284,00011%

Large Families$323,000

3%

Balance Sheet, Statement of Activities, and Analysis of Loan Activity are condensed from financial statements audited by Loeb & Troper.

BaLance sheet statement oF activities

anaLysis oF Loan activity

Year Ended June 30, 2013

Year Ended June 30, 2013

oPerating revenuesuJa-federation of new york

Grants $314,000

Administrative fees 71,000

total federation revenues 385,000

Contributions 327,000

Program grants 35,000

Special events (net) 82,000

Administrative fees 26,000

Investment income (net) 514,000

total revenues 1,369,000

oPerating exPensesoperating expenses 1,483,000

excess (deficiency) of revenues over expenses $(114,000)

June 30 2013 2012

assets Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . $1,233,000 . . . . . . . . $1,001,000

Investments, at fair market value . . . . . . . . . . . . . . . . . . . . . . $8,153,000 . . . . . . . . $7,476,000

Loans receivable, net of allowance for doubtful

accounts of $380,000 and $393,000 respectively . . . . . . . . $11,183,000 . . . . . . . $11,379,000

Contributions receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $72,000 . . . . . . . . . $154,000

Prepaid expenses and other . . . . . . . . . . . . . . . . . . . . . . . . . . . . $23,000 . . . . . . . . . . $23,000

Furniture and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . $18,000 . . . . . . . . . . $28,000

total assets $20,682,000 $20,061,000

LiabiLities and net assets

Liabilities Accounts payable and accrued expenses . . . . . . . . . . . . . . . . . . $408,000 . . . . . . . . . $382,000

Loans payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,650,000 . . . . . . . . $1,414,000

total Liabilities $2,058,000 $1,796,000

net assets Unrestricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,889,000 . . . . . . . $14,682,000

Temporarily restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $357,000 . . . . . . . . . $205,000

Permanently restricted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,378,000 . . . . . . . . $3,378,000

total net assets $18,624,000 $18,265,000

total Liabilities and net assets $20,682,000 $20,061,000

aLLowance Loans, for doubtfuL receivabLe, Loans accounts net,

Loans receivable July 1, 2012 $11,772,000 $(393,000) $11,379,000

Loans issued 9,018,000 9,018,000

Collections (9,227,000) 13,000 (9,214,000)

Loans receivable June 30, 2013 $11,563,000 $(380,000) $11,183,000

Balance Sheet, Statement of Activities, and Analysis of Loan Activity are condensed from financial statements audited by Loeb & Troper.

,

Fourth annuaL BeneFit ceLeBration

On May 23, 2013, more than 100 people gathered at the Harmonie Club for the Fourth Annual Benefit Celebration of the Hebrew Free Loan Society. The evening featured a moderated panel discussion on challenges facing New York’s Jewish community. The panel participants were: Moderator, Jane Eisner; Panelists, Rabbi Saul Berman, Dr. David Ellenson, and Dr. Jack Wertheimer.

Fourth annuaL BeneFit ceLeBration

$10,000 and overThe Durst OrganizationSibyl R. Golden

$5,000–$9,999Aryeh BourkoffRachelle Gribetz-Laytner and

Alan LaytnerSandraR.KahnBatya and Ezra LevinIan Shrank and Alexandra W. LogueSkadden, Arps, Slate,

Meagher&FlomLLP

$2,500–$4,999Clifford Chance US LLPPhyllis and Gary GladsteinKantorFoundation,Inc.SueA.Kaplanand

DavidKarnovskyEdwardS.KaranPolinaandMichaelLibermanVivianMamelak

$1,000–$2,499Jill and Jay BernsteinEllenM.Braitmanand

David J. ShapiroMinalieChenandJacksonHsiehValerieandMarkJ.GersteinTamar and Eric GoldsteinDavid GrossVirginia Bayer Hirt and

Robert S. Hirt

Frances and Floyd HorowitzHeleneandMarkKaplanCarolandGershonKekstLopatin Family FoundationOrsid Realty CorporationThe Price Family Foundation, Inc.Propp Foundation, Inc.The Sakhai Family Foundation

$500–$999Sarah and Abraham BidermanMatthewBlochChestnut Holdings of New York, Inc.Louise and Robert CohenConcord Rusam Inc.Bonita and Harvey GanotMichelleGreenberg-Kobrin

andJeffreyKobrinJessica and Judah GribetzEmilyandMichaelGutterHoward HorowitzAndre JacobovitzShirleyandMorrisKarnovskyBriendyKatzMariannaandHenryKauftheilIsaac PollakBeth-ann RothAlison B. and Cory WishengradAustin Zalkin

$360–$499Amy and Lester FriedlanderJaneandStanleyKreinikElissa Shay and Daniel Ordan

$359 and underElliot AcocaElla Babadjanov and Aron AronovDaniel BendheimMarkSolomonBittonNorman BobrowSusan and Arnold BraitmanC.D. FoundationJoyce and Fred ClaarHarriet N. Cohen and

Arthur FeinbergCheryl Dresner and Seth BressmanBetty EhrenbergHoward EisenbergDana FederbushEsther Fuchs and Dan VictorCarla and David GlasserAlvin GoldbergKarenGoodheartJennifer Greenfeld and Josh GordonMarkGrossandAndrewS.KaplanSharon Jaffe and James GlasserAbraham JoelAlexandDavidKahn

RosemaryandRichardKalikowLeahandRobertKaufmanSamuelKlattMaryandStefanKriegerMelissaLaskerSamuel J. LiebermanLoeb&TroperArleneandJosephMamelakAdolfo ProfumoBeth and Harold S. RaucherEdward S. RudofskyLee SaltzmanPhilip SchattenAsher SchlusselbergArthur SelkowitzVicki and Joseph ShammahSara Shapiro-PlevanLia SheenaMadeleineShrankDail R. StolowMiriamandJohnWazeterRitaandMorriWeinbergShoshana WerberKennethWieder

our donors: fourth annual benefit celebration

On March 7, 2013, the HFLS Next Generation Board, a group of young professionals committed to supporting the Society’s mission, hosted its annual spring benefit at the Gansevoort Hotel. Two hundred attendees came together to celebrate and raise money for the Society’s Microenterprise Program

eighth annuaL next generation BeneFit

eighth annuaL next generation BeneFit

$500 and overIlana L. BrownsteinDorian FogelAndre JacobovitzSamuelKlatt

$100–$499Jacques AlcabesSamuel ArchibaldMarcAspisDanielle AuerbachArie BelokMarcBlancoJeff BogurskyStacy and Jason BrennerLindsay CannonAron B. DavidowitzElliott DavisIsaac DayanMichaelDistenfeldJeremy FeitMariyaFeldmanTony FelzenAvital GoldbergHannah GoldenBennett GoldfarbGoldman,Sachs&Co.MichelleGreenberg-Kobrinand

JeffreyKobrinValeriya GreeneDaniel GreenwaldMatthewGros-WerterDavid GrossAhron HerringEitan HochsterAlexandDavidKahnMichaelKalnickiDavidKlattLaurenandDavidKovacsChana LabowitzJonathan LaskerMelissaLaskerEthan LeibowitzDavid LernerMiriamandAaronLevineNicole and Avi LiebermanLouis LipnerAri London

VivianMamelakRachelMirkinBatya NadlerDanny PanzerJustin PinesJason PinewskiMichaelPinewskiJed ResnickDavid RotbardEllen RothJonathan SchilowitzMichelleSchwartzLia SheenaJack SimonyJenna StatfeldEvan StormLiora TarloweBrian WilkinsHarel WilliamsOren YerushalmiAustin ZalkinJonathan ZangerDavid ZilkhaAndrew Zizmor

$99 and underPeter AaronMartinAbelRachel AdellAvi AdelsbergDaina AnhaltRaymond AziziAzriel BaerJonathan BarokasNoam BesdinJapkeerat BindraRobert BlausteinSamuel BlockEthan BochenekSamantha BravermanSimon BriefDaniel BushanskyRachel ChaskyJoshua ChekofskyStuart CohenEric CohnLaura D.Jesse David

Eric EnglanderAvital FalkDaniel FederJoseph FeldmanMatthewFishmanMarcosFlaksSammy FlaksAlex FlaxTracy FogelKatherineForesterIlana FrankDaphna FrankelTammy FriedDavid FriedlanderAndrew GarlandRaanan GebererValerieandMarkJ.GersteinHeather GluboBenjamin GoberDara GoldsteinNina GribetzMelindaC.Grosand

RonaldM.WerterJennifer GuttmanLisa GuttmanJonas HainMendyHaskelJeffrey HermanMichaelHollenbergLouise JacobowitzJPMorganChaseFoundationJosh JusterDeborahKaganMarkKaganovichJasonKahanMarciaKahnowitzBlairKaminskyHannahKaplanSueA.Kaplanand

DavidKarnovskyIlanaKasellJustinKatzShiraKaufmanMatthewKislakEvanKlebeReubenKopelLindsayKowalsky

ClayKramerEllyKramerStephanie LaskyAyelet LebovicsMarcLessnerJosh LevineRebecca LevitanYehudaMagidEvanMajznerUriMocheDeenaMoskovicGeoffrey B. NeimarkRobert ParkerRachel PavsnerJackie PerchukKerenRazDavid RifkinMatthewRosenbaumDavid RosenbergJenna RosenbergJonathan RothStacy RotnerLisa SafdiehSimone SalamonZachary SalzbankAryeh SchwebelJoshua SegalSteven SeidenfeldDavid ShahmoonEzra ShankenAlexander ShaperoIan Shrank and Alexandra W. LogueDebora SilbermanAlexandra SimonJenna SlutskyArielM.SzulcJennifer TaitzShannon ThieleGenevive TrencherJulie VeetalJennifer WeinMarkWeintraubAlison B. and Cory WishengradGabrielle WolfBrian YagodaPauline Zavodnick

our donors: eighth annual next generation benefit

our donors: the 2012–2013 annuaL camPaign

$125,000 and overUJA-Federation of New York

$50,000–$124,999TheHerbert&NellSinger

Foundation, Inc.

$10,000–$49,999Anonymous (2)DavidM.DurstLawrence FriedlandSibyl R. GoldenJewish Women’s Foundation

of New YorkSandraR.KahnThe Lucius N. Littauer FoundationJack RudinRichard B. StoneSolon E. Summerfield FoundationStanford Warshawsky

$5,000–$9,999Daniel BendheimGiti and Jack BendheimJanet and Peter BloomBloomberg L.P.Lorraine and Joshua Lee DurstValerieandMarkJ.GersteinMarjorieKaplanandGusSzaboBatya and Ezra G. LevinIan Shrank and Alexandra W. LogueAlison B. and Cory WishengradSusan and Jordan Yarett

$1,000–$4,999Randi and Joseph AllerhandMauriceAmadoFoundationMarthaandEffremArensteinAVI CHAI FoundationBarclays Bank PLCSarah and Abraham BidermanEllenM.Braitmanand

David J. ShapiroL. Bravmann Family

Philanthropic FundAnnette A. Cohen and

JohnM.FederConcord Rusam Inc.Harry De Jur Foundation, Inc. MichaelDistenfeldDebra R. DrelichLinda and Frank FialkoffCarla and David GlasserThe Eugene and Emily Grant

Family FoundationAbbieandMosheGreenbergThe David and Alan Greene

Family Foundation, Inc.Harriet and Irwin GribetzRachelle Gribetz-Laytner and

Alan LaytnerBob GrimesArthur GruberAdam HandwerkerVirgina Bayer Hirt and

Robert S. Hirt

Frances and Floyd HorowitzHoward HorowitzSueA.KaplanandDavidKarnovskyMorrisJ.&BettyKaplun

FoundationEdwardS.KaranSusanandDavidKaufmanKavodFoundationLoisKohn-ClaarandGaryClaarJaneandStanleyKreinikAnatandMelLaytnerLopatin Family FoundationVivianMamelakCatherineMorrisonTheNewKalmanSunshineFundDoris and Joseph H. NewmanMosesL.ParshelskyFoundationThe Rackman Foundation Inc.Francine J. and Robert J. RavitzThe Frederick P. and Sandra P.

Rose FoundationPhilip SchattenElizabeth Scheuer and Peter JosephTerry SchimekRobert SchmerlerGail and Judah SchorrRobert B. SchumerEstate of Rita TrachtenbergSteven H. WeissAnn F. Wimpfheimer and

Eddie SnyderT.R. Zochowski

$500–$999LitaandMitchelAederAnonymousDiane Archer and Stephen PresserMarionandJackAuspitzChestnut Holdings

of New York, Inc.Ivan Ciment FoundationCongregation Emanu-ElDoreen and Neil DavidowitzAlisa R. and Daniel L. DoctoroffSuzi and Fred EhrmanBonita and Harvey GanotJessica and Judah GribetzMelindaC.Grosand

RonaldM.WerterEmilyandMichaelGutterNancy and Spencer HartDavid LernerTeena and Larry LernerBetty PopperEvanM.RaineNicole I. Rothschild and

Leonard D. DiPietraRaphael RussoJudith and Daniel SabbaBeverly SchneiderSusan and Aaron StrassburgerMonicaandAndrewWeinbergAlvin L. WeissAustin Zalkin

$100–$499Cyrus G. AbbeValery AbramovMegandSethAkabasAnonymous (3)Ella Babadjanov and Aron AronovBankofAmericaMatchingGiftsLee F. BarashPearl Beck and David FisherYelena BekkerBet Am Shalom SynagogueBeth El Synagogue of New RochelleNorman BobrowGalyna BodnarAnn BornsteinJulius I. BowenRita BrizelLorenzo F. BuccaLeonid ChernyakTamara and Vitaly ChernyakhovskyRita ChorneyArthur CohenJoel E. CohenYocheved Cohen and

Joshua HalberstamCongregation Ansche ChesedNan Rothschild Cooper and

MichaelCooperCorporate Design Associates, Inc.Ariel DeckelbaumAngie DegoreBetty EhrenbergStephen EpsteinFabian Couture Group

International, Inc.Esta and Jay FeinsodDavid FeinsteinKatherineForesterRoman FreudNaomi Friedland-Wechsler and

Harlan J. WechslerBenjamin FrielingAlexM.GerberKarenandAbrahamGersteinSvetlana GinzburgAvitai GoldAlvin GoldbergHannah GoldenNaomi GoldsteinYelena GolubevaRhondaandMichaelElliotGribetzRachel Berger Groner and

Samuel GronerJennifer Allison Gross and

Saul BurianTrudy H. and Jack GrossmanPatrice and Ariane GrunbaumGalina GubaMarvinHaasNavah and Jules HarlowIda HarrisonEzra D. HedayaMeirHershkopEstherandMordehayT.HerskovitsAndrew HerzMindyHerzfeld

Sharon HeydenHillcrest Jewish CenterRachel and Jamie HirschLolaK.IbragimovaSvetlana IfraimovaAndre JacobovitzFeygele JacobsAbraham JoelDavidKahanJanegailOrringerKahnValKaranShirleyandMorrisKarnovskyBradleyKarpJudyandDavidKatzNataliKhoroshunSusanandStephenKippurTalKlausnerandDanShahamShirleyandEdwardKornreichVictorKorosDeborahB.KorzenikNealKozodoyLeonKrantzbergMillaKrasnopolskyJeffreyKraussLeora and Gavriel LambertHugh and Betsy Lamle FoundationJudy and Allen LebovitsMeiraandBarryLebovitsSorena and Shulim LempertYelena Leonova and

Naum FriedlenderJoan and Gregg LernerEllen Levy-Zombeck and

MeirZombeckSofia LipsmanNatalia LuzanovskayaArleneandJosephMamelakMindyandAdamMamelakJudithR.Margolinand

Seth SchwartzScottRoyMillerTracyMillerRhondaMilradand

MichaelYanoverMichelleS.Mintzand

Jason S. ScharfspitzElieMishaanLeahandBarrieModlinLynnMontzandJohnLeubsdorfPatriciaM.Murphyand

Adam R. SpilkaMariaMushyakovDavid NanusDaniela NittenbergJulian B. OrensteinCamille and Jim OrmanJeffrey ParnassAmanda ParnessPerry Davis Associates, Inc.MelissaandDanielPiankoTeriandKeithRaffelOlha RavlyukSheryl Reich and

DavidM.GreenbergDonna B. RichSusan B. RichterJoseph Rokacz

our donors: the 2012–2013 annuaL camPaign

MichaelSpectorRomeDenise and Gary RosenbergNicola and Jordan RosenstockSydell RothNataliya and Alex RozhitskyBlanche and Bruce RubinNahma Sandrow and

WilliamMeyersKenSankinStuart Schear and Jeffrey ShandlerMindellSeidlinand

DavidM.FishmanSara Shapiro-PlevanBlossomandMartinI.SheltonRona Sheramy and Adam SegalSergey ShimonovRana Arons Silver and

Lawrence David SilverMosesSilvermanJudySimmonsandArthurMagunYefim SokolovichMosheSolowayAaron SpoolMelissaandDerekSquireMiltonSteinbergCarol and Clark StillRebeccaStrausandEvanK.FarberJoy and Frank StudleyLeonard B. SukhermanAvivaandMarvinSussmanAnne Swidler and Claude FischerTemple Beth TorahEllen and Stephen J. ThomasGregory TrakhtenbergLenore TuckerJackM&RoseUllmanFoundationUSMCCInc.Inna VasylevaLeonid VaynshteynGinny and Tom WallinMeritWebsterLeah and Bernard WeillLinda and Bernie WeinerNeil WeissArnold H. WolfeSteve WolitzerIrena and Alexander YoffeBonnie ZabenHarlan Andrew ZimmermanBoris Ziser

$99 and underFiruza AbbasovaIsanna AgrestAnonymous (2)Regina ArkanovaEsterandKhayatAronovAnjella BabayevaOlufemi O. BanjokoVladimir BararushkinDavid Samuel BarrScott A. BaslawCarol and Steve BassinMadonnaBebiashviliNatalyaandMikhailBekkerMichaelBelogorodsky

Leslie Bernstein and Francine Dunkel

MaiaandIzrailBezuevskyMarjorieBlackWalter S. BlazerMichaelBodnerFrida BogomolnikGrigoriy BogomolnikEugene B. BorowitzDavid N. BraininSusan and Arnold BraitmanEugenia BraunshteynOnaandMauriceBrillKathyBristerandMarkBraitmanBronx Jewish BoysStephen BrumbergIrwin ChimerineLyudmila ChuginaAdrienne and Harvey CohenArthur CohenJudithandMortonAriCohenSandra DavisMarinaDenisovaNana DonaValentyna DonetsBoris DrebskiyMikhailDrebskiyCheryl Dresner and Seth BressmanIsaak DrukmanSvetlana EisenbergHeidi EliasBruce ElkinEsmiralda ElkindGeet Engel and Hershel WolfFredda and Ira EpsteinRivkah Feldman and

Bernard BernsteinJeri and Richard FinkRichard FischerJ.T.&C.B.FishFoundation,Inc.Zhanna and Valeriy FoninskiyMadelineFrankNancy and Paul FreireichAlina GakMinaGeltmanandYakovPenekHadassa GerberYelena GerberAlexander GitmedKlavdiaGofchteinRevaz GogiyaSharon and George GoldringJennifer A. and

Andrew S. GoldsteinGalina and Anatoliy GonoshilovaDaniel GreenwaldJudith and Eli GreenwaldMarionGribetzand

Robert E. RubinLarisa A. GrigoryevaPolina and Lev GurevichFraidy and Chaim GurevitchEllen HechtGittle and Jacob HerskovitsPearlM.HofmanDavid HurwitzNisimkhay Isakov

Zafar IsamitdinovInna and Slava IshkhanyanVladlen IvanovBernardKabakowLisaMaysonetKabolRaliatKafidipePamelaR.andJonKalishLarisaKaluginaBenjaminKamenetzkyElinorKaplanGaleKaplanTracyKaplowitzand

Jonathan BoxerAleksandraandDavidKarpinosRuthL.KastnerEmmaandAlikKatsLeahandRobertKaufmanLeahandArthurKayeGaryKerznerGalinaKhmelevskayaand

VladimirKhmelevskiyIrinaKhrishchanovichChayaandAbrahamKleinRochelleS.KleterTsezariiaKonovalovaFainaandVladimirKremermanMariaandMironKuchukSylvia and Herbert LandauIgor LandmanLucy LangIbolya LaskyLawmatchKareemLazarusMarciaLazarus-O’TooleMildredandHerbertB.LechnerDorron LemeshAnne R. LenesMylesLevinAlla LevinaLeonid LevintovRuth LichtSusan Fanselow Likes and

Philip H. Likes, IINatalia and Leonid LokshinTatyanaandYefimMagazaninLinaandGennadyMaltserMariaMarukovich-PepshikAniMazbanianEstherandCharlesMegermanMonicaandAaronMeislinAleksandrMeksinEvaMourzakhanovaMarylynMuskinMaiaNinoshviliLeonid NorNatalie Nor and

Vladimir ChudnovskiyNorth Country Reform TempleRonald OgurVitaly OstrometskySvetlana OstrovskayaLaura F. and Steven J. PaleyMarinaPapakhinaGabriel PaulianBarbara PerlinOlga Petrova

Valentina PodosinovaLarry PollackSvetlana PridilayloAdolfo ProfumoLyudmila Rabkina and

MikhailMargolinYaffa and Savi RakhamimDiyora RakhmanovaTatyana RapaportGennadiy RazuvanovSamuel H. RiceHanna RiwkinMarciaRobinsonJulie and David RosenbluthRheba and Alan RosenbluthFlorence SaffordRima SalejVictor A. SamokhvalHoward E. SayettaAnna SemenevaMiraandHerschelSennettViktoriya SevastyanovaBokhurkhay ShamalovJudith Adler Sheer and

Charles SheerDebora ShpolyanskyMadeleineShrankElia SolomonSvetlana SpektorYaffa and Lipa StauberFaina StavinskyNaomi and David SternbergMarinaSticbergSharon Stulberg and Jon FishSvetlana SverdlovaBrian TabarokiTalmideini Inc.Olga TempelTemple Beth Shalom of CoramJoshua TenzerTime Warner Employee

Grant ProgramsBlima and Alexander TulchinskyLilia TurevskyMierleandJackB.UkelesRaifail VayserIsaak VaysmanLiza VetenshteynValerii VilkevychLarisa VishnyakovaAndrew WassermanMiriamandJohnWazeterLevi WeingartenDebbie and David WeintraubDaniel YadgarovOlga YakhninMiraYakhninaandMartin

MartinsonBela YakubovaHillel YanniSharonandMarvinYanofskyTsivia and Shimon YanofskyLarisa YusufovaJudyB.andJoelM.ZaklinInna ZhitnikovaSean Zhubrak

DavidM.KarnovskyPresident

DavidM.DurstJudah Gribetz SandraR.KahnEzra G. LevinPast Presidents

MarkJ.GersteinVice President

DavidB.KaufmanVice President

Philip SchattenVice President

VivianMamelakTreasurer

Sibyl R. GoldenSecretary

Daniel BendheimAbraham BidermanEllen Braitman

Gary S. GladsteinDavid G. GlasserMichelleGreenberg- KobrinEric GribetzFrances Degen HorowitzEdwardS.KaranBriendyKatzHenryKauftheilStanleyKreinikAlan LaytnerJack RudinIan ShrankLaurel Durst StrongStanford WarshawskySteven H.WeissCory Wishengrad

Shana NovickExecutive Director

BOARD OF DIRECTORS

Peter AskinAlecBrook-KrasnyJoel E. CohenLawrence FriedlandI. Leo GlasserIrwin GribetzRichard I. Gribetz

DanielR.KaplanMichaelJ.KlissMichaelLibermanMatthewJ.MarylesJoseph H. NewmanJoshua L. SteinerRichard B. Stone

HOnORARy BOARD

HEbREw FREE LOAN SOCIETy675 Third Avenue, Suite 1905 • New York, NY 10017

Telephone 212-687-0188 • Fax 212-682-1120www.hfls.org

ANNUALREPORT2012–2013

Transforming lives for over 120 years