Synagogue Agudath Achim of Little Rock, Arkansas announced that it has received a donation of real and personal property appraised at approximately $500,000 from entities majority owned and controlled by Michael K. Federman, a New York-based lawyer and businessman with operations in Arkansas.
The Synagogue plans a formal ceremony recognizing the donation in December. While no restrictions were associated with the gift, Mr. Federman expressed a desire that the proceeds be utilized primarily for Jewish education and local outreach programs.
"It is my privilege to assist this very special congregation in continuing to provide Jewish learning and ensure a strong sense of Jewish identity for children in Arkansas," said Michael Federman. "Hopefully this gift helps our rich cultural traditions thrive at Agudath Achim as they have since 1904 due to the tireless efforts of the members of the congregation and its steadfast leadership,"
David Greenbaum, who coordinated the donation by Mr. Federman and is Agudath Achim's past President, stated: "This gift is of particular significance given the current economic climate. We are deeply grateful for Mr. Federman's generosity and his commitment to the Jewish people of our community." Mr. Greenbaum indicated that the Congregation may utilize some of the proceeds generated by the sale of donated assets to recruit a full time rabbi.
Michael K. Federman, 37, is a founder of Federman Steifman LLP, a boutique real estate and structured finance law firm, and a principal of Red Pine Capital Partners LLC, a New York-based real estate and equity investment firm. Mr. Federman's philanthropic efforts include contributions to various children's social programs, educational institutions and charities dedicated to mental health research.
