National Jewish Federation Bond Program

The National Jewish Federation Bond Program (NJFBP or "the Program") has been helping to build the infrastructure of the Jewish community since 2003.

From schools to social service agencies, from senior living to Federation headquarters, NJFBP helps Jewish Federations and agencies receiving Federation grants or benefits* access low-cost financing for local capital projects and acquisitions. Any project with a financing need of at least $3 million is eligible to participate. We also may be able to help you reduce overhead by refinancing existing conventional debt at a lower rate.

More than 97 transactions in 26 Federation communities, totaling more than $1.6 billion, have been completed. See our summary of transactions for more detail. 

Our experienced director, Pam Kurtzman, along with her team, will guide you through the process, assisting you with arranging, structuring, and negotiating all aspects of the financing transaction. Their goal is to help you obtain the lowest possible financing costs by researching  and analyzing your options regarding structure, terms and market timing; then present the pros and cons so you can make an informed decision. From understanding what documents you need to initiate the fundraising phase of the project to handling ongoing compliance and monitoring of the debt, NJFBP will be by your side.

NJFBP began as a tax-exempt bond program, but we have expanded our services to offer a variety of financing options to help obtain the best possible structure for each agency. Planning, management, and ongoing administration are centralized to give you access to an experienced team of financing professionals and a cost-effective, streamlined process.

If your Federation or a partner agency is in need of financing for a new capital project or interested in possibly reducing the cost of existing debt, review our eligibility requirements to consider accessing this program and its low-cost, efficient financing options.


Pam Kurtzman

Senior Director, JFBP LLC

*Any communal agency that has a relationship with Federation is eligible. If you aren’t sure, please contact Pam Kurtzman to discuss.

Neither the Jewish Federations of North America (JFNA) nor JFBP LLC, the Program Administrator, will be a borrower or a guarantor under this Program. Each borrower under the Program is responsible for repayment of its own debt and compliance with its contractual obligations. JFBP LLC’s role is limited to facilitating access to the benefits of the Program and to administering certain aspects of the Program in accordance with a contract between it and the borrower. The program is administered by JFBP LLC, a 501(c)(3) and a wholly-owned subsidiary of Jewish Federations of North America (JFNA). JFBP LLC is a municipal advisor registered with both the Municipal Securities Rulemaking Board (MSRB) and the SEC.