Hillel is expected to lose 8 percent of its endowment after the chapter’s parent group, the Jewish Federation of Greater Washington, announced it is among the financial casualties of Bernard Madoff’s $50 billion scandal.

As first reported in the Washington Post, the Jewish Federation of Greater Washington said roughly 8 percent of its long-term savings were invested in a Madoff account. The scam, which Madoff admitted last week is a Ponzi scheme involving more than $50 billion, is affecting organizations worldwide and has forced at least two heavily-invested nonprofits to fold.

In addition to GW’s chapter of Hillel, the 14 other endowments that the Jewish Federation of Greater Washington manages—including the University of Maryland Hillel, a local synagogue, and the Jewish Council for the Aging—are expected take similar hits.

Look for the full story on gwhatchet.com soon.