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America-israel Cultural Foundation Adopts $1,510, 000 Budget for 1961

January 24, 1961
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A budget of $1, 510, 000 for 1961 was approved today at the annual meeting of the America-Israel Cultural Foundation, it was announced by Samuel Rubin, president, who was re-elected for another year. Mr. Rubin also reported that in 1960, the Foundation dispersed $1, 304, 500 through its cultural program in Israel and its cultural exchange program in the United States.

Of the funds spent in 1960, the sum of $649, 000 went to support of the Foundation’s 40 cultural institutions in Israel and $265,000 represented the value of art treasures contributed to the Foundation for the museums of Israel. The balance was used for the Foundation’s cultural exchange activities, for scholarships in the arts for 150 talented young Israelis and for building projects of beneficiary agencies in Israel.

In addition to re-electing Mr. Rubin as president, William Mazer was re-elected board chairman; Robert S. Benjamin was elected chairman of the executive committee and Billy Rose, chairman of the Museum committee.

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