Illustration
צילום: סי די בנק
The secrets of the Bonds
How does the Israel Bonds organization manage to raise over a billion dollars a year from American Jewry?
Last Sunday, the State of Israel Bonds held their annual dinner. Ministry of Finance Abraham Hirschson was scheduled to be the guest of honor. At these types of affairs, the keynote speaker’s identity is considered to be an issue of utmost importance.
The approximately 800 rich American and Canadian Jews, who gathered in an exclusive Florida country club, hoped to hear a senior figure prodding them to purchase many additional Israeli bonds. However, since an ongoing investigation meant that Hirschson had to remain in Israel, Israel Bonds President Yehoshua Matza took his place at the podium.
Matza, who served as Health Minister in Binyamin Netanyahu’s administration, has been Bonds president for several years now. Despite his age (72), he’s constantly on the go. The mischievous glint in his eyes and his considerable powers of persuasion serve him well.
During his tenure, fundraising has reached an all-time high, and records continue to be broken. Although last year he only managed to garner a mere 1.2 billion dollars, there have been years when close to two billion dollars have flowed into the organization’s coffers.
Longing for Sharon
The State of Israel offers relatively generous interest rates on its bonds, but these Jewish-American millionaires can easily locate other investment channels which yield even higher rates than the 5.17 percent accrued from the Israeli bonds. However, these bonds are identified with the Zionist cause.
Each year, the dinner is held in Boca Raton, a location calculated to induce the attendees to open their wallets and write nice, fat checks – preferably with six, or even seven, figures.
A group of Canadian Jews from Toronto tell me about the situation in Israel. “Since Sharon left, you have no leadership,” Dorothy intones. “Israel must choose a direction, because if the Arabs see that you’re driving a car without knowing where to turn, they’ll throw you into the sea.”
Her good friend Yetta nods in agreement and adds, “You must improve the infrastructure, invest in education, deal with the social situation. I follow (the news) and know what’s going on in Israel. The government neglects many issues.”
During lunch, an international relations expert lectures on the global terror menace. He leaves no doubt; Israel’s very existence is in danger. Terror organizations threaten to destroy the Jewish nation and civilization as we know it.
The solution? Buy more Israeli bonds.
And the message is well-received. The next day, a major philanthropist informs me that if he could, he would earmark his substantial contributions towards nuclear reaction projects. As it is, he continues, he has to make do with promises that his donations will be spent on more mundane matters, such as roads and hospitals.
Creative begging
Bonds officials admit that the news emanating from Israel - the Moshe Katzav affair, the accusations of systematic corruption, and the Ehud Olmert and Hirschson investigations – has caused them to sweat.
“There’s a bad feeling about what’s going on in the State,” Matza observes. “I’m forced to stand before the leaders of the Bonds in the United States and explain to them that the State is undergoing a significant leadership crisis, but that their money doesn’t go to the leaders. It goes to the people.”
Israel Bonds succeeds where many other organizations fail. Even though it has been in operation practically since the State’s establishment, it remains one of the strongest and most relevant Jewish-American concerns.
Although the Bonds borrows money that Israel has to subsequently return with interest, the funds, which provide Israel with economic oxygen, are a vital source of cash, at an incredibly low interest rate. In turn, Israel, to its great credit, is a responsible borrower – the loan is paid back on time, with regular interest, without shirking or arguing. After all, these are disciplined American Jews.
In contrast to other Jewish organizations, the Bonds doesn’t fundraise during the dinner. All that takes place way before the actual event. In 50 cities throughout the United States and Canada, branch workers spend their time exhorting the locals to purchase wads of bonds certificates. But we’re not talking about classic “shnorring”; Bonds officials employee a creative form of begging.
There are many types of certificates. For example, Mazel Tov (congratulatory) bonds – 100 dollars a piece - are perfect gifts for any happy occasion. In addition, there are liquid bonds and ten-year or more closed bonds. In fact, if you can’t find the bond that’s right for you, Bonds officials will be glad to create a customized one.
Thus, the annual dinner is basically a pat-on-the-shoulder for these generous Jews and a last-ditch effort to persuade them to add a zero to the amount they originally pledged.
Dinner organizers use psychological tactics when designing the program. The evening opens with a festive cocktail hour, in order to keep the donors happy and well-fed. Expensive bottles of wine help absorb the food and dull the senses.
During the dinner itself, 13 top contributors are honored. Economics isn’t the only factor in their selection. Bonds officials identify donors who are also among their communities’ movers and shakers.
Every honoree is expected to bring dozens of friends and relatives, each of whom has a similar-sized bank account. Consequently, not only are the honorees obliged to purchase hefty amounts of bonds, but their relations are asked to cough up funds as well.
After all the shorter speeches, the keynote speaker begins his or her address. Experience has shown that, by far, Netanyahu and Olmert are the two most successful fundraisers. However, neither was available this year, due to prior commitments, and Hirschson’s invitation was seen as a risky second choice.
Nevertheless, Matza, who spoke confidently and with appropriate Zionist fervor, came through with flying colors. His speech touched upon many of the major events in Israel’s history – not necessarily in chronological order - including the Lebanon War, the Holocaust and Jewish revival, the so-called Austerity, and societal concerns.
The Torontonians
The begging begins in earnest immediately following the keynote address. Bonds officials circulate among the tables, pledge cards in hand and beseeching expressions on their faces. Particularly high pledges are announced out loud by name.
As it turns out, the Torontonians are well-represented among the heavy hitters. In fact, the Canadians come in second only to New York on the list of outstanding communities. Several Jews drop a cool five million dollars, without batting an eyelash.
When the pledges are totaled, the emcee announces that yet another record has been broken – 153 million dollars were raised in just one evening. Matza, who had initially hoped to reach 100 million, can’t stop smiling.
Yetta and her elderly friends from Toronto are ecstatic. They supported Israel and are returning home with magnificent tans.
