AFIDC ESTABLISHES ENDOWMENT FUND
Despite the pandemic causing great uncertainty around the world, the American Friends of IDC Herzliya stepped up to show their unwavering support for the institution. Previously, all funds raised by AFIDC were directed to immediate needs, including developing buildings, funding academic chairs, and providing scholarships for needy students.
However, in the wake of the crisis, the AFIDC Board of Directors decided to establish the first endowment fund in the United States for IDC Herzliya, designed to ensure that the institution will not only have funds for its immediate needs, but also a nest egg for future needs.
Each year, a portion of the endowment will be paid out to support current needs, while the remainder will be retained in the endowment to grow and support future generations. According to Leslie Skyba, Executive Director of AFIDC, “we are extremely proud of this achievement and excited to grow and build the endowment during the year ahead.” The new endowment fund is a permanent, self-sustaining source of funding that will support IDC Herzliya forever.