The goal of $25 million in long-term commitments to the Israel Histadrut Foundation, to be attained by Israel’s 25th anniversary year, was reached on June 1, according to a report by Dr. Sol Stein, foundation president, at a luncheon here yesterday. Dr. Stein, who established the foundation 12 years ago, was installed as president, succeeding William H. Sylk of Philadelphia. Dr. Stein relinquished his post as executive director of the National Committee for Labor Israel to devote full time to the foundation, which seeks bequests, gift annuities and other forms of deferred contributions for the future needs of Histadrut’s health, educational and social welfare programs in Israel.
Rabbi Leon Kronish, of Miami Beach, chairman of the board, told the audience of 400 guests that the foundation would raise $100 million within the coming ten years, thus assuring a steady source of funds for the vital services of Histadrut to the immigrants and workers in Israel. A letter was read from Finance Minister Pinhas Sapir which called Dr. Stein “worthy of the post of President of the foundation and it is my hope that he will continue for many years to serve the cause of Labor Israel.”
The foundation, a subsidiary of the National Committee for Labor Israel, has 1463 contributors to date. Nearly $4 million has already been realized in cash and transferred to the Israel Histadrut Campaign for use in Israel. Another $3.5 million in cash is in the Histadrut Annuity Fund, Histadrut Annuity Trust and Life Income Fund, which provide income for the donors during their lifetime, with the capital eventually going to the Histadrut program in Israel. More than $17.5 million is in confirmed sums included in wills, insurance policies and trust funds that will ultimately yield cash for the foundation’s purposes in Israel. I.K. Goldstein, vice-president of the Labor Zionist Alliance, opened the session with a tribute to the victims of the Arab terrorist attack at Lydda Airport. Sylk, a prominent businessman and Zionist leader, who presided, declared that “not a single person who planned to travel to Israel this summer has cancelled his trip.”
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