America Israel Cultural Foundation
Encyclopedia
The America Israel Cultural Foundation (AICF) was established in 1939 to support the growth and development of Israel. Originally established as the American Fund for Palestinian Institutions, after the establishment of the State of Israel in 1948 the name was changed to the American Fund for Israeli Institutions, and subsequently re-incorporated as a 501(c)3 nonprofit foundation in the US as its current name, the America Israel Cultural Foundation.
It was in danger of closing in the wake of losses caused by the Ponzi scheme
run by Bernard Madoff
.
After initial years of funding the development of Israeli life through capital projects involving agriculture, archeology, culture, law, and numerous other categories, the organization shifted its focus entirely to culture and by 1954 was entirely focused on cultural support. As an early provider of seed money for nearly all of the notable cultural institutions in Israel, including the Israel Philharmonic Orchestra, the Israel Museum, the Batsheva Dance Company and over 600 other institutions, AICF helped establish and maintain the long-standing excellence of Israeli culture through-out the world. In 1961, it gave entertainer Jack Benny
an award for his support.
Early recipients included Daniel Barenboim
, Itzhak Perlman
, Pinchas Zukerman
, Miriam Fried, Yefim Bronfman
, and to date over 13,000 young artists have been supported.
It was in danger of closing in the wake of losses caused by the Ponzi scheme
Ponzi scheme
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from any actual profit earned by the individual or organization running the operation...
run by Bernard Madoff
Bernard Madoff
Bernard Lawrence "Bernie" Madoff is a former American businessman, stockbroker, investment advisor, and financier. He is the former non-executive chairman of the NASDAQ stock market, and the admitted operator of a Ponzi scheme that is considered to be the largest financial fraud in U.S...
.
After initial years of funding the development of Israeli life through capital projects involving agriculture, archeology, culture, law, and numerous other categories, the organization shifted its focus entirely to culture and by 1954 was entirely focused on cultural support. As an early provider of seed money for nearly all of the notable cultural institutions in Israel, including the Israel Philharmonic Orchestra, the Israel Museum, the Batsheva Dance Company and over 600 other institutions, AICF helped establish and maintain the long-standing excellence of Israeli culture through-out the world. In 1961, it gave entertainer Jack Benny
Jack Benny
Jack Benny was an American comedian, vaudevillian, and actor for radio, television, and film...
an award for his support.
Early recipients included Daniel Barenboim
Daniel Barenboim
Daniel Barenboim, KBE is an Argentinian-Israeli pianist and conductor. He has served as music director of several major symphonic and operatic orchestras and made numerous recordings....
, Itzhak Perlman
Itzhak Perlman
Itzhak Perlman is an Israeli-born violinist, conductor, and instructor of master classes. He is regarded as one of the pre-eminent violinists of the 20th and early-21st centuries.-Early life:...
, Pinchas Zukerman
Pinchas Zukerman
Pinchas Zukerman is a world-renowned violinist, violist, and conductor. He is considered one of the greatest violinists of the 20th and 21st centuries, and his ongoing 45-year career has seen him perform with the world's best-known orchestras and record over 100 works...
, Miriam Fried, Yefim Bronfman
Yefim Bronfman
Yefim "Fima" Naumovich Bronfman is a Soviet-born Israeli-American pianist.-Biography:He was born in Tashkent, Uzbek SSR, and emigrated to Israel at the age of 15...
, and to date over 13,000 young artists have been supported.