'pitchon-lev' is a non-political, non-profit organization, which works for the benefit of society in Israel. The 'pitchon-lev' organization is active owing to the public's support and contribution. Therefore, transparency is a fundamental and important principle guiding our operations. We find it a privilege to report every details of what we do. This site provides full disclosure of our financial and accounting information, including wages.

 

The organization's annual financial statements and balance sheets are audited by a large international accounting firm, Kesselman and Kesselman PwC, and are regularly submitted to the Registrar of Societies. In addition, our annual financial statements are available to anyone at the office of 'pitchon-lev'. If you wish to make comments or ask questions, we would be happy to oblige.

 

The activities of 'pitchon-lev' are supervised by the Registrar of Societies, which, on a regular basis, provides an official certification of proper management. The organization's budget and financial activity are closely supervised by Kesselman and Kesselman (Partner – Giora Burshtein, CPA) and the Azulay-Sotovsky accounting firm.

 

The organization has an audit committee headed by Haviv Dudai, CPA, who performs regular audits and supervises all the activities of the organization. This audits are held to ensure compliance with proper work procedures and with the values of 'pitchon-lev', namely: integrity and reliability.

 

Registered Society – at the Registrar of Societies

Approval of proper management for 2007 – the Registrar of Societies

Approval of recognized donations/Section 46a – The Israeli Income Tax

Approval of proper book management – The Israeli Income Tax

Certificate of Non-Profit Organization – Value Added Tax

Exemption of withholding tax – The Israeli Income Tax

 

The executive committee, which comprises five members, working voluntarily, constitutes the highest legal authority for decision making at the organization and sets an example for all other volunteers. Members of the executive committee convene 12-14 times a year, apart from their daily routine work.

 

The chairman and members of the executive committee manage a professional staff of 20 paid employees. This staff, headed by founder and managing director, Nissim Zioni, is the heart of the organization and efficiently supervises the work of thousands of volunteers, from all levels of Israeli society as well as among Jewish organization worldwide.

 

These volunteers constitute the central pillar of 'pitchon-lev''s activities. Thanks to them we manage to spread our efforts all over the country.

 

Position	Name	Occupation	Start of operation
Chairman of the  Executive Committee	Doron Shelly	Businessman in the field of construction in Israel and worldwide	April 2000
Member of the Executive Committee	Erik Zohar	and systems advisor	September 1998
Member of the Executive Committee	Shimshon Katz	Businessman in the field of transportation and cargo	April 2000
Member of the Executive Committee	Yaakov Ben-Tora	Businessman in the field of transportation and pharmaceuticals	September 1998
Member of the Executive Committee	Moshe Rapaport	Businessman in the field of real estate, insurance and investments	January 2004

 

 Audited financial statements for the year 2009

 

The review of the audited financial statements for the year 2009 shows that the Pitchon Lev organization adheres to all the required criteria for proper management for the 11^th year in a row.

 

The percentage of the turnover intended for general and administrative expenses stands at 5.56% of the operating revenues.

 

The auditor's protocol as it appears in the Registrar for Non-Profit Societies dated 1^st May 2010 shows that:

 

Employee's wages including that of the managing director are set by the executive committee in accordance with public standards of measurement. The managing director of the society earns a salary equivalent to that of a senior state employee while taking into consideration the many working hours invested in the position.  This salary is seen as less than suitably rewarding in relation to the degree of investment and the efforts of the managing director, and taking into account aw well the level of achievements reached by the organization through his leadership. The managing director, who is the life and soul of the organization, has brought about its growth and steadfastness. The organization has taken steps to cut costs and raise the level of efficiency. We are pleased that wages were reduced by 7.5% compared to those of 2008 despite that fact the organization's activity has since increased by 5%.  We recommend that the management of the organization continues to cut back on salaried personnel.

 

The general and administrative expenses decreased by 30% which is a welcomed trend.  Managerial expenses in relation to turnover stands at 5.56% which is a positive parameter from the standpoint of the Registrar of Societies and the Income Tax Authorities. Rental expenses have played a role in reducing expenses in relation to the previous year.

 

Press here to read the full Auditor's report for the year 2009.