The Gruss Life Monument Funds (Gruss Foundation), established in 1991 to perpetuate the philanthropic endeavors of Caroline and Joseph Gruss,�provides funding for Yeshivot and Jewish day schools in New York City, Westchester and Long Island. The foundation provides annual funding of over $15 million to more than 400 educational and philanthropic institutions, it has made more than 14,000 interest-free mortgages to former Soviet Olim in Israel and more than 100 interest-free loans of $500,000 each to Jewish educational institutions worldwide. The foundation has about $100 million dedicated to alternatives, specifically hedge funds and fund of hedge funds.