History and Structure
The Foundation began its activities in 1976, with an initial endowment fund of ten million dollar donated by the Wolf family. The major donors were Ricardo Wolf and his wife Francisca. Annual income from investments is used for prizes, scholarships and Foundation operating expenses.
It has a status of a private not-for-profit organization in Israel. It is tax-exempt. The objectives and prize administration details and procedures of the Foundation are grounded in the "Wolf Foundation Law-1975". State Comptroller of Israel oversees all Foundation’s activities. In accordance with the Law mentioned above, the Minister of Education and Culture acts as Chairman of the Council.
The Foundation Trustees, Council and Committee Members, Prize Juries, and Internal Auditor perform their duties on a voluntary basis.
Read more about this topic: Wolf Foundation
Famous quotes containing the words history and, history and/or structure:
“History and experience tell us that moral progress comes not in comfortable and complacent times, but out of trial and confusion.”
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“The history is always the same the product is always different and the history interests more than the product. More, that is, more. Yes. But if the product was not different the history which is the same would not be more interesting.”
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“The philosopher believes that the value of his philosophy lies in its totality, in its structure: posterity discovers it in the stones with which he built and with which other structures are subsequently built that are frequently better—and so, in the fact that that structure can be demolished and yet still possess value as material.”
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