Operations

The Herzlia Foundation Trust is a separate legal entity and registered Public Benefit Organisation.

It is governed by a Board of Trustees consisting of Ronnie Stein (Chairman), Philip Krawitz and Eddy Oblowitz. The Board meets on a regular basis to ensure that our strategic direction and goals are in keeping with the constitution of The Herzlia Foundation Trust.

The Trust’s interests are overseen by an Investment Committee who are accountable to the Board of Trustees. They ensure that the investment mandates of the endowment are correctly managed by the designated Fund Manager’s and that they grow the Foundation capital to its maximum potential. We aim to future proof United Herzlia Schools (UHS) by increasing The Herzlia Foundation Trust’s Endowment from R200 000 000.00 to R400 000 000.00 by 2020.

The Herzlia Foundation Trust’s auditors are MGI Bass Gordon GHF and our audit report and financial statements are publicly available and accessible on our website.

The Herzlia Foundation Trust is located on the Herzlia High School campus, Highlands Estate and is managed by Amanda Zar.

The Herzlia Foundation Trust is supported by an Advisory Committee who oversees the strategic direction of the Trust. The Advisory Committee comprises of Warren Kaimowitz (Chairman), Alison Katzeff, Mark Todes, Marco van Embden, Samuel Seeff, Geoff Cohen and David Ginsberg.

The Trust prepares an annual budget that is approved by the Foundation Trustees and tabled for discussion at meetings. Operating costs are kept to an minimum. The Trust works in co-operation and collaboration with the United Jewish Campaign (UJC).

The Herzlia Foundation Trust also contributes to the shortfall in the school’s operating expenses, helping to keep increases in school fees to a minimum. The Herzlia Foundation Trust raises funds separately for capital projects to ensure that there is no impact on the amount of income the Endowment earns. Herzlia does not embark on capital projects until funding is secured furthermore we do not upgrade property that is not owned by either Herzlia directly or the Jewish Community.

The Herzlia Foundation Trust’s key task is to build the Endowment to the point where it’s income can cover the full cost of bursaries without drawing on the capital. This will also reduce dependent on communal funds which would enable the UJC to allocate those funds to other deserving organisations in the community.

 

Dafna