Annual Report 2004 » From the Chair

Stuart E. EizenstatChair, Board of Governors

This has been a year of great accomplishment and great challenge for the Weizmann Institute of Science. We continue to have a scientific faculty second to none, backed by a stellar group of graduate students and post-doctoral fellows representing over 20 nations.

No organization has a more dedicated, more competent worldwide group of top staff. The more closely I work with our President, Ilan Chet, the more I am inspired by his leadership, vision for the Institute, and ability to stimulate philanthropy. I am also blessed with a wonderful group of deputy chairs and strong committee chairs, and with the remarkable chair of the Executive Council, Abraham Ben Naftali. Together, we are strengthening the Board of Governors and trying to enliven it with young leaders.

We face one pervasive challenge: in the past three years, support from the Israeli government has dropped from over 50 percent of the Institute’s budget to some 36 percent today - and falling. Ilan Chet has managed this fiscal problem with minimum disruption to the core mission of the Institute. Yet, further cuts could present a real challenge to our continued leadership in science.

To increase our financial strength we need to become more independent. After detailed planning, we have decided to launch an ambitious Global Partnership Campaign for Excellence in Science this coming year. This is Weizmann’s most important fundraising initiative since the successful Jubilee Campaign.

The campaign has several crucial goals: to raise over $400 million over the next five years, thus increasing our endowment to around $1 billion; to fund current scientific research projects and ongoing expenses; and to expand and enhance the Weizmann family of friends and supporters worldwide.

The Global Partnership Campaign will represent all that is special about the Weizmann Institute of Science, especially the collaboration between philanthropy and science and the important interaction between our lay leadership, scientific community and professional staff.

I thank my great predecessor as chairman of the Board, Gershon Kekst, for accepting the challenging position of Global Chair of the Campaign, and Bob Drake of the Netherlands for agreeing to serve as the Executive Chair, heading an international team of devoted Institute leaders.

I am again deeply grateful to President Ilan Chet for his tireless devotion to the Institute. He is the true gentleman and scholar, providing both innovative scientific leadership and sound financial management.

May the Weizmann Institute and its leadership continue to go from strength to strength in the year ahead.

Stuart E. Eizenstat