JNF reports owning land worth NIS 8b

JNF

The value of the Jewish National Fund's land in 2013 was NIS 6.7 billion.

The Jewish National Fund (JNF) - Keren Kayemeth le-Israel recently published its full financial statements for 2014, revealing a number of surprising figures about the value of the land it holds and the revenue it derives from them.

According to the reports, JNF's net assets total NIS 12.3 billion, while the value of its land was NIS 8 billion, as of December 2014. For the sake of comparison, the value of its land at the same time in 2013 was NIS 6.7 billion.

Most of JNF's revenue comes from the sale of land, which totaled NIS 2.15 billion in 2014, compared with NIS 1.7 billion in 2013. Revenue from donations totaled NIS 134 million in 2014, compared with NIS 98 million in 2013.

In 2014 expenses, JNF paid the Israel Land Authority NIS 1.2 billion, and spent NIS 653 million on land development and forestry. Spending on education amounted to NIS 80 million, and the salary costs of JNF's 950 employees totaled NIS 309 million.

Published by Globes [online], Israel business news - www.globes-online.com - on July 7, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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