Multi-Year Funding: Kiryat Yearim and the new
network of Youth Villages
Be it resolved that:
Whereas:  The Board of Governors, following the recommendations of the Budget and Finance Committee and the Executive, approved in June 2012 a multi-year commitment of US $500,000, per annum, for five years from school year 9/2012 through 8/2017 (total: US $2,500,000) to finance the operation of the Kiryat Yearim Youth Village (“Kiryat Yearim”); and
Whereas:     Based on the above mentioned multi-year commitment, the Max M. and Marjorie S. Fisher Family Foundation (the “Fisher Foundation”) signed an agreement with JAFI and committed to an annual payment of US $1,000,000 for five school years 9/2012-8/2017 (total: US $5,000,000); and
Whereas:     The Government of Israel has committed for heightened involvement and increased funding of the Youth Villages, and therefore the parties wish to modify the agreement regarding the remaining balance of the Parties commitment as follows:
(a) An 8 year annual commitment to Kiryat Yearim from 9/2014 through 8/2022: US $300,000 from the Fisher Foundation (total: US $2,400,000) and US $150,000 from JAFI (total: US $1,200,000).
(b) A 5 year annual commitment to the new expanded network of Youth Villages from 9/2014 through 8/2019: $277,000 from the Fisher Foundation (total: US $1,385,000) and $133,000 from JAFI (total: US $665,000).
Shall the Board of Directors of Kiryat Yearim conclude in a certain year that in addition to the funding detailed hereinabove in (a), there is a need for additional amounts, such additional amounts shall be transferred to Kiryat Yearim instead of to the new expanded network of Youth Villages, limited to the commitment sum as detailed herein (b);
Whereas:       Modifying the agreement is subject to an amended resolution for the multi-year commitment by JAFI;

Therefore be it resolved:
1. To approve an annual budget of US $150,000 from 9/2014 through 8/2022 to finance the operation of the Kiryat Yearim Youth Village.
2. To approve an annual budget of US $133,000 from 9/2014 through 8/2019 to finance the operation of the new expanded network of Youth Villages
3. The Finance Unit is authorized to deal in implementing the said decision, according to the agreement that shall be modified by the Parties.