Caesarea Foundation profits from tax exemption

March 4, 2013 05:14

Extensive business operations and a tax-exempt status have paid off handsomely for the Rothschild Caesarea Foundation and its subsidiary Caesarea Edmond Benjamin de Rothschild Development Corporation.

The foundation's financial resources increased by over 150% from NIS 510 million in 1998 to NIS 1.3 billion in 2010, but despite a NIS 476 million liquidity surplus at the end of 2010, the foundation donated only NIS 21 million to promote higher education in Israel.The figures were published by the State Comptroller in the annual report for 2010-11, published in May 2012.

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