PHILADELPHIA CREAM, September 20, 2021 / PRNewswire / – The National Museum of American Jewish History (NMAJH) officially left the Chapter 11 reorganization on Friday, September 17, 2021 in accordance with the Reorganization Plan confirmed on September 2, 2021 by the chief justice Magdeline D. Coleman of the United States Bankruptcy Court for the Eastern District of Pennsylvania.
The conclusion of the Reorganization procedure was made possible thanks to a 10 million dollars commitment of the former administrator of the NMAJH Mitchell morgan and his family. The Morgan family completed their purchase of the Museum building on Friday, September 17, 2021 through their business entity, PHL Masada LLC.
âMitch is a mensch and a hero in the Jewish community,â said Dr. Misha galperin, CEO of NMAJH. “The initiative that Mitch and his family have shown brings stability to this Philadelphia cream institution and preserves a beautiful treasure for the Jewish community, for City of philadelphia, and for our nation. “
The Morgan family aren’t the only ones showing generosity to the museum, as they’ve worked hard to reorganize in the midst of a pandemic. A number of the Museum’s individual bondholders, a list that includes Morgan, are also contributors who have generously forgiven a debt totaling $ 14 million.
Galperin added: “Today we are full of energy for our bright future.”
Download NMAJH images and Morgan family photo; linked lines of credit
ABOUT THE NATIONAL MUSEUM OF AMERICAN JEWISH HISTORY
Established in 1976, and located on that of Philadelphia Independence Mall, the National Museum of American Jewish History is the only museum in the country devoted exclusively to the exploration and interpretation of the American Jewish experience. NMAJH presents educational programs and experiences that preserve, explore and celebrate the history of Jews in America. Its goal is to connect Jews more closely to their heritage and to inspire people from all walks of life to appreciate the diversity of the American Jewish experience and the freedoms Americans aspire to. http://nmajh.org
IN REGARDS TO MITCHELL MORGAN
Mitchell morgan is a former director of NMAJH who served for 12 years. The Aerial Mount native worked full time at a business school and law school in Temple University, where he is currently chairman of the board. Since 1985 he has been the founder and CEO of Morgan Properties, the largest private multi-family homeowner in the country. Through the Morgan Family Foundation, Mitchell and his family supported NMAJH, Children’s Hospital of Philadelphia cream, the Barnes Foundation, the Philadelphia Orchestra, the Philadelphia Museum of Art and many other local institutions.
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SOURCE National Museum of American Jewish History