Moriah calls for $10 million

MORIAH College will try to raise $10 million from the Jewish community during its capital appeal which will run over the next month.

Judy Lowy, co-chair of the appeal with Giora Friede, said people needed to realise the importance of dipping into their pockets to ensure the school’s future.

“We know it’s a really tough time to be asking for money and we are acutely aware of the tough environment, but we are the biggest Jewish school in the southern hemisphere and for the first time since we moved to Queens Park we have been able to secure our future,” Lowy said.

In 1984, the school entered a 99-year-lease on its property in Queens Park, paying rent of eight per cent of the value of the land or $140,000 a year. But as property prices sky-rocketed, the rent increased 10-fold to $1.4 million and it was expected to double again within five years.

The school bought the property this year for $27 million from the NSW Government.

“Everyone knows that this was a responsible decision and the right decision,” Lowy said. “We didn’t have any other option and we are excited that the Government has given us recognition and sold the property to us.

“I think the community understands that we have expanded to meet the growing demands of the community and now we need their help.”

Lowy said the quicker the debt was paid, the lower the repayments would be and this would allow the school to reduce fees. And with that in mind, the school launched the Moriah Foundation this month.

Foundation chairman Brian Schwartz said the long-term goal was to make Jewish education cheaper.

“This is going to take a long time and ultimately we will achieve what we want,” Schwarz said. “I dream that we will have capital funds one day through the foundation to reduce school fees, fund the Israel study tour, scholarships or whatever the school needs to make it affordable.

“All of my kids went to Moriah and now my grandkids go to the school,” he said.

“Just because your kids have left the school it doesn’t mean you should forget about the school. If I don’t put my hand up then why would anyone else?”

JOSHUA LEVI

After purchasing the land on which the school stands for $27 million, Moriah College is hoping to recoup about $10 million from community donations.