The Tel Aviv District Court approved a unique request, submitted by the trustee of a public endowment named after Ida Abush, together with the registry of endowments at the Ministry of Justice, which allows for a one-time allocation of approximately 200,000 NIS for urgent needs during a period of emergency, while maintaining the goals of the endowment. It should be emphasized that a public endowment is a trust for various public purposes.
Within the framework of the approved outline, the funds will be directed to the purchase of laptops and essential equipment for children from underprivileged families in northern Israel and in settlements along the conflict line, for the purpose of distance learning.
The decision is based on the existence of a substantial connection between the intended use of the funds and the purposes of the endowment, while providing a flexible and purposeful interpretation of its purposes in emergency circumstances. It was further determined that this is a one-time and limited distribution, and that the use of the funds will be made in a focused and measured manner, in accordance with the exceptional circumstances and without harming the endowment's ability to continue to realize its purposes in the future. The distribution will be implemented through the Social Economic Forum.
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The Registrar of Endowments stated that the ruling expresses a responsible and progressive regulatory approach, according to which endowment funds, estimated at billions of shekels, are intended to serve the public not only over time, but also in moments when the need is immediate. In appropriate cases, endowment funds can and are intended to serve as a flexible and significant source of funding for urgent needs during times of emergency.
The Endowments Unit at the Corporations Authority emphasizes that this is a carefully examined outline, which includes balances and restrictions, and allows for the full potential of public endowments. It was also noted that the unit sees this process as a practical model, and encourages trustees to examine similar outlines with it in appropriate cases.
