A worldwide drive to raise a $100,000,000 endowment fund for the Hebrew University of Jerusalem was announced here today. The announcement was made by Ira Hirschman, who was installed as national chairman of the university’s endowment program at a reception in his honor. He was inducted into his new office by Allan Bronfman, of Canada, world chairman of the program.
Stressing the extraordinary growth of the university from a few hundred students in 1948 to 11,000 in 1965, Mr. Hirschman stated: “The explosion of higher education is such that the university is faced not only with its critical day-to-day needs but with an absolute necessity to expand to meet Israel’s rapid growth. All of us who have been involved in assisting educational institutions know that, as a cardinal rule, no university can endure, build and expand on outright gifts; that the life and foundation of these institutions must be their endowment.
“Unlike comparable American institutions, the Hebrew University, only 40 years old and in a newly developing country, does not have a backlog of wealthy alumni to draw upon for financial support. It remains for us, the members of the various societies of friends of the Hebrew University throughout the world, to assume the role of foster alumni.”
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