Is Israel running low on philanthropic foundations?

Israel hosts fewer than 1,000 philanthropic foundations, according to market research conducted by Atlas Ltd., Israel’s largest platform in the field of philanthropy.

In Switzerland there are 14 times as many philanthropic foundations relative to the population than in Israel, the UK has eight times as many and the US has five as many per capita.

Atlas CEO Shlomi Turgeman said: Israel is ranked sixth in the top 10 in the world in terms of donations from philanthropic foundations in relation to the population. In 2022, philanthropic groups in Israel contributed about NIS 10 billion.

To significantly boost the activity of philanthropic foundations and to instill the philanthropic culture not only to the average citizen but rather to those 130 Israeli billionaires and the close to 100,000 Israeli multi-millionaires, Atlas recommends 4 steps:

A. Increasing philanthropic awareness among the hi-tech industry, most of the newly rich who enjoy the great fortune they have accumulated overnight and are characterized as a young and innovative population, for whom the concept of giving back as part of their world of values.

B. Regulation – The government must establish a national program to encourage philanthropy among private individuals and business companies, expand the tax benefits/tax credits to those philanthropists and business companies. Formulate a strategic government plan aimed at spreading a philanthropic culture among the population, as the British government did in 2010, and even invested 40 million pounds for the implementation of the philanthropic engagement plan.

C. Public recognition: The government can publicly recognize individual philanthropists and business companies that make a significant contribution to the advancement of civil society in Israel, either through awards or honors. This can encourage other philanthropists to join the circle of giving.

D. Education and awareness: The government can help promote a culture of philanthropy by educating the public about the importance of donation and the value of giving and the impact it can have on the individual and the community. This can include promoting advertising campaigns, providing resources and tools to help people make informed decisions about giving and highlighting successful philanthropic initiatives.

Turgeman: “If our ambition is to become a Western and developed country in all fields, we should also learn from Western countries that have taken it upon themselves to promote the value of giving and bequeathing philanthropy. The Israeli public is already ready for this, and it is signaling this in its donation data. All that’s left is to wait for the Israeli regulator to join in.”

This article was written in cooperation with Atlas Ltd.