.

Business Plan 2009

TAMID Israel Investment Group

PO Box 4473
Ann Arbor, MI 48106
Tamidinfo@gmail.com
 Table of Contents

Name Page Number

I. Executive Summary 1

II. Problem and Opportunity 2

III. Solution 3

IV. Mission 4

V. Business Model

A. The Model 5

B. Program Overview 6-7

C. TAMID’s Three Pronged Approach 8-11

D. General Site Structure 12-13

VI. Financial Analysis and Projections

A. Financial Breakdown of a TAMID Site 14

B. Pro – Forma Annual Budget 15

C. Individual Itemized Budgets 16-17

VII. Succession Plan 18

VIII. Donor Involvement 19

IX. How is TAMID Different? 20

X. Vision 21

XI. Organizational Growth 22

XII. Pilot Program 23-27

XIII. Conclusion 28

Appendix I: Sample Letter to Investor 29-30

Appendix II: Endorsement Letter 31

 Executive Summary
TAMID Israel Investment Group

Problem:
 The relationship between American, Jewish college students and the State of Israel is limited, sporadic, and
unsustainable.
 The status quo is not enough to support the future of the Jewish people.

Opportunity:
 To pioneer the next generation of Jewish leaders by aligning the personal and professional aspirations of
business students with the collective interest of Israel and the Jewish people.
 These young Jewish leaders are the future Jewish philanthropists and investors in Israel.

Solution: The TAMID Israel Engagement Program

 A comprehensive initiative geared towards business-minded students consisting of an educational program, a
student managed investment fund, and a fellowship program.
 Students have the opportunity to invest 25% of TAMID’s endowment in the Israeli economy; developing
skills to serve their professional careers while simultaneously facilitating a deeply rooted connection with the
Jewish homeland.
 Fellowship Program: TAMID members supplement their experience by interning with prestigious Israeli
businesses.

1) Educational Seminars
Students spend their Freshman and Sophomore years being
educated by Israeli executives and business school professors:
 Video Conference calls with Israeli managers, traders,
venture capitalists, start-up executives
 Seminars taught by business school professors

2) TAMID Fund
Students manage a fund of Israeli securities, which comprises
25% of TAMID’s endowment by:
 Researching, analyzing and presenting investment
opportunities in the Israeli market
 Consulting with Israeli investment houses
 Preparing quarterly portfolio reports

3) Fellowship Program
Returns on investments from the TAMID endowment sponsor
the TAMID Fellowship Program:
 $5,000 travel and living stipend for three month
internship
 Internships available in banking, private equity, venture
capital, high-tech, and consulting
 Provides substantial and prestigious experience for
future professional opportunities
 Donors encouraged to directly sponsor student
fellowships

Vision:
 Within 5 years, TAMID will become a national organization with chapters at every major American university
investing independent portfolios in the Israel market, engaging hundreds of students nationwide.
 TAMID will thus create a highly interactive network of young American Jewish business leaders who have a
sustained and substantive connection with the State of Israel.
II. Problem/Opportunity:

The relationship between American Jewish college students and the State of Israel is limited,
sporadic, and unsustainable. The status quo is not enough to support the future of the Jewish
people.

Currently, pro-Israel and Jewish organizations on college campuses do not holistically reach students
in a substantive and sustained manner. While there are numerous highly effective organizations such
as Taglit-Birthright, Hillel, and various pro-Israel activism programs, these organizations do not
afford students an opportunity to engage with Israel on a level beyond a fleeting experience.
Students have no means of interacting with Israel on a daily basis and no opportunities to connect
their personal and professional interests with Eretz Yisrael and the future Jewish people. Moreover,
while programming for Israel’s cultural and political identity are routine on campus, Israel’s business
and economic climate are often neglected. Specifically, programming does not target American,
Jewish, business-minded students.

Ironically enough, in a time when Israel is experiencing an explosion of innovation, investment, and
entrepreneurship—while emerging as a world economic powerhouse—no initiative is being taken
to encourage business-minded college students to engage this flourishing landscape. This
has led to an enormous gap between the personal and the collective—a mismatch between students’
professional ambitions and the collective interest of Israel and the Jewish people.

As the situation stands now, Jewish, American business-minded students are selected for top jobs in
American financial sectors without any connection to their people or their land. These students are
the next generation of Jewish philanthropists; these students are the next generation of investors in
Israel. Who will instill in them a commitment to their Jewish identity? Who will help guide them to
a life long commitment to their people and to Israel?

The results of this status quo are twofold. On the one hand, our generation will grow to see Israel as
a beautiful but distant place to visit and support through donations and activism. On the other hand,
Israel will never be more than a remote entity in the hearts and minds of our generation. The
relationship between Israel and the next generation of American Jews will not fulfill its immense
potential and will not grow beyond the foundation which has been set by previous generations.
Israel will not become a part of the daily personal and professional lives of Jewish students, nor will
it shape who they become as Jewish individuals, pioneers, and leaders.

2
III. Solution:

The TAMID Israel Investment Group is a comprehensive, three phased program that integrates the Israeli economic
landscape into business education, hands-on investment experience and career oriented work experience.

1) Educational Seminars
Students spend their Freshman and Sophomore years being
educated by Israeli executives and business school
professors:
 Video Conference calls with Israeli managers,
traders, venture capitalists, start-up executives
 Seminars taught by business school professors

2) TAMID Fund
Students manage a fund of Israeli securities, which
comprises 25% of TAMID’s endowment by:
 Researching, analyzing and presenting investment
opportunities in the Israeli market
 Consulting with Israeli investment houses
 Preparing quarterly portfolio reports

3) Fellowship Program
50% of each donation will directly sponsor student
fellowships:
 Returns on investments from the TAMID
endowment sponsor the TAMID Fellowship
Program
 $5,000 travel and living stipend for three-month
internship
 Internships available in banking, private equity,
venture capital, high-tech, and consulting
 Provides substantial and prestigious experience for
future professional opportunities
 Donors encouraged to directly sponsor student fellowships

TAMID affords students an unprecedented opportunity for hands on, daily interaction with
Israel’s economic landscape. Students participate in a semester-long educational program on
financial topics, raise funds from donors, invest in Israeli firms, interact with and learn from top
Israeli executives, and spend time interning in Israel with leading financial companies. The program
spans the students’ entire time at university, instilling in them a profound commitment to Israel
from both a Jewish and business perspective.

They will carry these values with them into top jobs in the American financial sector, pioneering a
new generation Jewish leaders who will develop and support American and Israeli business
collaboration.

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IV. Mission:

The TAMID Israel Investment Group will:

ALIGN the professional interests of Jewish, American, business-minded students with Israel’s
business and entrepreneurial future.

INSTILL a profound commitment to Israel and Israeli business that students will carry for the rest
of their lives.

PIONEER the next generation of American commitment to Israel.

TAMID will revolutionize the connection between American students and the state of Israel by
taking Israel and Jewish identity out of the periphery and making them central aspects in the lives of
these students. This organization will lead a paradigm shift by creating a new status quo in which
business students across the nation are active stakeholders in the economic growth of Israel. This
organization will be a bridge between the passions, interests, and aspirations of American business
students and the Israeli economy which, until now, had been inaccessible to these students. As such,
TAMID will realign the discrepancy between the personal and collective by engaging the personal
and professional goals of Jewish, American, business-minded students. TAMID has made Israel’s
economic landscape accessible to the full-time student by utilizing the tangible incentives of
professional opportunities, experience, and success.

A Student Perspective…
The American business student seeks opportunities to:

o Develop leadership experience, interpersonal skills, and decision making abilities which
will be applicable to their personal and professional objectives
o Gain direct experience in investing, portfolio management, fundraising, and management
o Participate in prestigious internship programs with top firms where they can play an
active and engaged role
o Meet influential business leaders who can offer advice, professional assistance, and
professional networking opportunities
o Network and work with other future business leaders at universities across the nation

TAMID provides students with opportunities to:

o Gain tangible leadership experience and applicable organizational skills while guiding an
organization which is devoted to Israel and the future of the Jewish people
o Directly invest in Israeli companies, manage a portfolio of securities, raise funds from
donors, and manage an active and important organization
o Apply for and be placed in internships with top Israeli financial firms where they can live
in Israel and work in a fast-paced and professionally demanding environment
o Personally meet, learn from, and network with some of Israel’s leading business pioneers
o Partner and work with top students from universities across the nation who share a passion
for Israel

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V. Business Model:

A. The Model

The TAMID business model is based on the concept of creating sustainable TAMID
Groups at every major university in America. Each group will be supported by an individual
repository, but will also be connected via a national organization for oversight and network
development.

Each TAMID Group will be led by an executive board of experienced students who have
already spent two years involved with TAMID. The executive board will run the three-step
TAMID program and will guide each successive class of students through the program. At
any given time, three separate classes of 20 students will be progressing through the TAMID
program.

The TAMID Repository will be raised through tax-deductable donations and will be
split into two portions.
 50% of each TAMID Repository will finance the TAMID Fellowship
o This pool will be professionally invested for growth
 50% of each TAMID Repository will be invested for growth
o 75% will be professionally managed
o 25% will comprise the TAMID Investment Fund and will be managed by
students and invested in Israeli firms

The returns from the professionally invested portion of the TAMID endowment will fund
the fellowship program and the educational program. The returns from the student-managed
portion of the TAMID endowment will be used to cover overhead expenses and excess
returns will be used to fund additional fellowship opportunities. Donors will also have the
option of donating directly to the fellowship program.

TAMID is currently being piloted at the University of Michigan and each successive TAMID
Group will be established by following a basic, transferable set of guidelines. The goal is
steady and sustained growth across American university campuses following the success of
the working model. This conglomerate of groups at American universities will form a
coherent network of students with a common commitment to and passion for Israel.

5
 Business Model (continued)

B. Program Outline

The TAMID program begins during students’ second semester at the university. At that point they
go through a competitive recruitment and interview process to join TAMID. Top students are
selected to the program based upon their academic accomplishments and commitment to TAMID
and Israel. Once selected for the program, students will become part of a class of 20 students who
will go through each phase of the TAMID program together. The TAMID Executive Board will
oversee each successive class of students through the duration of the program.

An individual student’s experience in TAMID will follow a structured progression:

i. Freshman Year Semester 1:

 Active recruitment initiative
 Interested students apply
 Qualified students are selected to an interview
 TAMID class of 20 students is selected

ii. Freshman Year Semester 2:

 Educational Program Phase Begins
 Students attend lectures and seminars to learn about the Israeli economic landscape
 Students learn financial skills such as researching companies, analyzing portfolios,
evaluating risk, and understanding financial markets.
 Students have some interaction with TAMID’s portfolio by observing the
investment team and general portfolio operations

6
Business Model (continued)

iii. Sophomore Year Semesters 1 & 2

 Fund Management Phase Begins
 Students continue to attend lectures and seminars while gaining increased exposure
to TAMID’s investment portfolio
 Students actively research companies and present opportunities to the TAMID
Executive Board
 Students assemble quarterly reports of TAMID’s portfolio progress
 Students manage the TAMID Investment Fund, which comprises 25% of the
group’s endowment

iv. Summer between Sophomore and Junior Years

 TAMID Summer Fellowship Begins
 Students receive a stipend to go to Israel and intern with prestigious companies in
the industries of their choice and interest
 Students gain invaluable professional experience to further develop their future
ambitions
 Students experience Israel firsthand

v. Junior and Senior Years

 Executive Board Phase Begins
 Students who demonstrate an outstanding commitment to TAMID are elected to the
Executive Board
 These students are primarily responsible for:
o Managing the overall program
o Managing the TAMID Investment Fund
o Recruiting new students
o Designing the educational curriculum for current and future TAMID classes
o Making contacts in Israel to set up speaking opportunities
o Networking with American and Israeli company executives
o Maintaining the fellowship program
o Designing all publicity and marketing materials

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 Business Model (continued)

C. TAMID Israel Investment Group: The Three-Pronged Approach

Educational Curriculum,
Freshman Year Semester 2, Sophomore Year

The TAMID Educational program provides the

foundation for the organization to meet its goals. Students will spend their second
semester of their freshman year in an intensive educational seminar series where they
will learn about general financial principles and build an understanding of investing in
the Israeli market. The program continues through the student’s sophomore year.

TAMID’s educational curriculum has two goals:

1. To teach students about general financial principles, which will help them further their own
professional aspirations.
2. To teach students about the Israeli economic landscape and how they can apply their
knowledge of investing to the Israeli markets.

Topics of the Educational Curriculum Include:

General Topics: Israel Specific Topics:

-Why Do We Invest? -History of the Israeli Economy
-Portfolio Management -Chalutz 2.0: Israeli Business Leaders
-Equity and Bond Valuation -Tel Aviv 100: An Overview
-Introduction to Financial Statements -The Shekel versus Global Currencies
-International Currencies -Israel in the Global Economy
-The Financial Crisis: What Now? -Israel's Political Economy
-Non-Profit Management -War, Terrorism and the Economy
-International Financial History - The Israeli Entrepreneurial Culture
-Introduction to Alternative Investments - Israeli Real Estate Market
-Social Entrepreneurship - Hi-tech, Bio-tech and Pharmaceuticals
- Pioneering Israel’s Future
- Alternative Energy and Cleantech in Israel
- Challenges for the Israeli economy: What Does
the Future Hold?

Who Will Teach the Seminars?

Seminars will be taught by on-campus professors, Israeli MBA students, and Israeli professionals.
Members of the TAMID Advisory Board will also give guest lectures on specific topics throughout
the program via video conference from Israel.

8
Business Model (continued)

Fund Management, Sophomore Year

The TAMID Investment Fund serves as the core foundation

of TAMID. By running this fund, students will have the
opportunity to spend at least one year managing a portfolio
of investments in Israeli companies and to engage with
the Israeli economy on a daily basis. This portion of the
organization is the heart and soul of TAMID—managing
this portion of the portfolio will give students ownership over their investments and foster a
sustained, substantive and dynamic relationship with Israel’s economic environment.

The financial structure of the TAMID Israel Investment Group is designed to maximize student
decision making and involvement while minimizing risk and ensuring stability and sustainability of
the fund. Students managing the fund will assemble a portfolio of Israeli companies using an original
investment strategy by deploying what they learned in the educational phase of TAMID. To achieve
success, they will consult with the advisory board, university professors and the managed account
professionals. Students will attend bi-weekly investment team meetings, learn about Israeli
companies, pitch stocks, and vote on portfolio management decisions.

The TAMID Investment Fund will comprise 25% of the TAMID Endowment:

TAMID Endowment
Student Managed Portfolio of
Israeli Securities
25%

75%

Professionally Managed for Growth

The fund will be managed by a Fund Director who will be a student on the Executive Board with
extensive investment experience. Investment decisions will be made by students in the Fund
Management stage of the TAMID program. Such decisions will be overseen by the Executive Board,
with final authority granted to the Fund Director, Director, and Associate Director.

In addition to portfolio management activities, students will create several deliverables throughout
this phase of the TAMID program. These will include but not be limited to:
 Quarterly Fund Reports
 Monthly Analyses of the Israeli economy
 Sector Reports and individual Stock Pitches

A sample letter to donors and a sample analysis of the Israeli economy can be found in Appendix I.

9
Business Model (continued)

Fellowship Program,
Summer Following Sophomore Year
The fellowship aspect of the TAMID Israel Investment
Group will serve as the pinnacle of the developmental
program. As the most important and influential
component, the fellowship will allow students to apply their
knowledge and background to a hands-on experience in
Israel during the summer months. The fellowship will
include an 8-week internship with a top Israeli company,
volunteer service projects within various communities, and group activities with fellow interns.

The fellowship will consist of the following parts:

1) The Internship:

The students’ experiences and knowledge, gained throughout the TAMID program, will enhance
their experiences in Israel and placements with top firms. The internship will allow the students to
gain invaluable experiences working and living in an Israeli environment.

The internship aspect will require participants, upon acceptance, to select three or four of their most
desired internships, or provide a certain company in which they have a particular interest. Students
will apply for internships by submitting resumes and cover letters. They will then be paired with
companies who express interest in the student’s skill-set through an interview process.

Where Will the TAMID Fellows Work?

o Banking (investment, private, commercial) ... In Global Investments
o Israel!
o Sales and Trading o Economic Policy and Strategy
o Venture Capital o Government business affairs
o Investment Research o Entrepreneurial
o Private Equity o Information Technology
o Hedge Funds o Marketing
o Consulting

… In Israel

10
Business Model (continued)

2) Community Service

Tikun Olam (Repairing of the world) is a fundamental Jewish value. An essential part of the
fellowship is giving back to the community in which the students live. Community service activities
will not only provide a meaningful connection between the students and Israeli society, but will also
allow them to build strong bonds with their peers.

Activities will include:

‐ Volunteering with victims of terror

‐ Working with children in absorption centers
‐ Teaching English in elementary schools
‐ Volunteering in Soup Kitchens
‐ Bikur Cholim (Visiting the sick)
‐ Food Delivery
‐ Various small-scale construction projects including home repair

3) Social Activities

In addition to community service, participants in the fellowship will enjoy social outings such as
tiyulim (tours, hikes, etc.) and Shabbatonim (Shabbat gatherings or experiences). The tours and hikes
are also an essential component to gaining the full experience as a Fellow in Israel. The goal of this
aspect of the fellowship is to incorporate culture and history into their experiences and will
strengthen the participants’ bonds with Israel. Fellows will also have the opportunity to register with
the Jewish Agency and take part in Jewish Agency events with other foreign students in Israel.

II) Estimated Budget

Summarized Estimate
Food1 $1100.00
Transportation2 $500.00
Housing3 $1500.00
Flight to Israel $1500.00
Miscellaneous4 $400.00
TOTAL $5,000

1. Food: 75 NIS/Day = $1100 per 8 weeks

2. Transportation: 30 NIS/Day = $500 per 8 weeks
3. Housing estimate based on current craigslist.com apartment postings. Prices may vary based
on exchange rate and Israeli housing market trends.
4. The participant will be subsidized a miscellaneous amount after subtracting the actual cost of
the flight. Other estimated costs will hold.

11
Business Model (continued)
D. General Site Structure

Each TAMID site will be a dynamic organization which is centered around an Executive Board of
student leaders. The Executive Board will manage three groups of student members progressing
through the TAMID program. Each TAMID site will be supported by an array of multifunctional
support bodies. These entities exist to advance the goals of TAMID and to provide an extensive
network of expert advisors to the student Executive Board.

Advisory Board: This is a group of Israeli and American business executives who volunteer
some of their time each month via email or video-conferencing to interact
with the Executive Board to answer questions, lend advice and update the
board on any significant or interesting happenings in the Israeli economic
landscape.

University Professors: These are business professors who are experts in finance, accounting, or
related fields who spend a significant amount of time with the Executive
Board - specifically the investing team, helping them research companies and
make sound investment decisions.

Resource Board: These are American and Israeli professionals, such as lawyers and
accountants, whose areas of expertise will be helpful for developing and
maintaining TAMID’s infrastructure. The resource board will assist with
aspects such as 501-c-3 regulations, filing of taxes, and potential legal
liabilities.

12
Business Model (continued)
Israeli Students This is a group of Israeli university students who are actively engaged in
investing and business clubs at Israeli universities. Such organizations and
funds exist at universities such as Ben Gurion University and Hebrew
University of Jerusalem. TAMID will form a partnership with these students
to learn from each other and establish a network of devoted future leaders.

Executive Board: These are a group of the brightest students at the University who have
graduated from the TAMID program and have taken on the responsibility of
managing the organization. The Executive Board makes all final investment
and organizational decisions after conducting individual due diligence and
receiving advice from the supporting structures.

TAMID Members: These are students who are currently going through the three step TAMID
program. At any given time, this group will consist of three, 20 member
classes of students. The newest class will be engaged in the educational
program while the two elder classes will be in the fund management aspect
of the program.

The entire TAMID organization will also be split into four functional teams. Each team will be led
by an executive board member. The teams will work closely with one another to create a fully
functional, business-like environment, which utilizes students’ specific professional interests and
aspirations. The teams will be:

Investing Team: These are students who are concentrating in finance or are extremely well
versed and experienced in investing. The investing team is responsible for all
company research, pitching investments to the group, running investing team
meetings, organizing board votes regarding investment decisions and any
emergency financial operations.

Marketing Team: These students are responsible for marketing TAMID nationally as well as
recruiting the top students at each university for the next class of TAMID
members. The team is responsible for press releases, media interaction,
publicity and recruitment.

IT Team: These are technologically savvy students who will be able to provide TAMID
with a major internet presence. The team will be responsible for website
construction, daily maintenance, and multimedia development.

Fundraising Team: The fundraising team is responsible for raising $250,000 for each TAMID
Repository. Additionally, they are responsible for other fundraising
initiatives throughout the life of TAMID. These students, who
have experience raising funds for local federations, private foundations,
youth groups, and other charities, will create a fundraising strategy, meet
potential donors, and work to secure donations and relationships with
potential partners and sponsors.

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VI. Financial Analysis and Projections

A. Financial Breakdown of a TAMID Site

Every TAMID site will be founded with $250,000 in accumulated donations. This amount
will allow every college’s program to operate with a sustainable repository while funding the
first three years of the fellowship program. TAMID sites will be founded one year prior to
the funding as a means of establishing a solid leadership team and training a class of students
to begin the fund management component.

50% of every  50% of every 
donation will go  donation will go 
towards the site’s  towards the 
Endowment  Fellowship 
Program 

Startup funding 
will sustain the 
program for first 
three years 

Returns from the student-managed TAMID Investment Fund as well as from the
professionally-managed portion of the endowment will fund:

1) Annual overhead expenses including legal fees, accounting fees, printing expenses,
and miscellaneous other costs

2) All remaining returns will be used to fund additional TAMID fellows. Based on
projections of 5% - 10% annual returns, the initial endowment will be able to fund
one more TAMID fellow annually.

14
 VI. Financial Analysis and Projections (continued)
B. Pro-Forma Annual Budget

TAMID Israel Investment Group

Pro-Forma Annual Budget*

Year 1 Year 1
Overhead Costs Fellowship Costs
Printing Cost $ 1,471.12 Airfare to Israel $ 1,500.00
Materials Cost $ 404.25 Housing $ 1,500.00
Advertising Cost $ 97.00 Food $ 1,100.00
Travel Cost $ 1,239.70 Transportation $ 500.00
IT Cost $ 555.48 Miscellaneous Costs $ 400.00

Legal Fees $ 15,000.00 Total Stipend Per Student $ 5,000.00

Accounting Fees $ - Students in Year 1 5

Total Overhead
Costs $ 18,767.55 Total Fellowship Costs $ 25,000.00

Total Year 1 Budget $ 43,767.55

* Please see pages 16-17 for individual itemized budgets and explanations

15
 VI. Financial Analysis and Projections (continued)
C. Individual Itemized Budgets

TAMID Israel Investment Group

Printing Itemized Budget

Item Pages Quantity Printed Pages

Business Plan 35 100 3500
One Page Summary 1 300 300
Pitch Books 12 100 1200
Total Color Printed Pages 5000

Educational Materials 50 30 1500

Total Black Printed Pages 1500

Item Pages Per Item Quantity Needed Price Cost

Black Cartridges 750 7 $ 39.96 $ 266.40
Color Cartridges 500 13 $ 38.75 $ 503.75
Bindings n/a 100 $ 5.00 $ 500.00
Paper Packages n/a 7 $ 28.71 $ 200.97
Total Printing Cost $ 1,471.12

*Printing calculated by cartridge to save funds as opposed to utilizing printing services

TAMID Israel Investment Group

Materials Itemized Budget

Item Quantity Price Cost

Tshirts 45 $ 6.99 $ 314.55
Binders 30 $ 2.99 $ 89.70
Total Materials Cost $ 404.25

Advertising Cost

Campus Flyers 500 $ 0.19 $ 97.00

Total Advertising Cost $ 97.00

16
 VI. Financial Analysis and Projections (continued)
TAMID Israel Investment Group
Travel Itemized Budget*

Item Mileage Price per Mile Quantity Cost

Driving Cost
Detroit 43.21 0.74 15 $ 479.63
Chicago 241.99 0.74 1 $ 179.07
Cleveland 167.67 0.74 1 $ 124.08
Total Driving Cost $ 658.70
Flying Costs
New York 1 $ 198.00
Boston 1 $ 219.00
Washington 1 $ 164.00
Total Flying Cost $ 581.00

Total Travel Cost $ 1,239.70

*Travel costs will cover visits to potential donors across the United States

TAMID Israel Investment Group

IT Itemized Budget
Item Price Quantity Cost
Website Construction 300 1 $ 300.00
Web Maintenance (monthly) 15 12 $ 180.00
Internet Hosting 6.29 12 $ 75.48
Total IT Cost $ 555.48

TAMID Israel Investment Group

Legal Itemized Budget
Item Price Quantity Cost
Non-Profit Exemption Filing 15000 1 15000
Annual Legal Assistance Pro- Bono 1 0
Total Legal Cost $ 15000

TAMID Israel Investment Group

Accounting Itemized Budget

Item Price Quantity Cost

Annual Accounting Assistance Pro- Bono 1 0
Total Accounting Cost $0

17
 VII. Organization Succession Plan

The TAMID Israel Investment Group is structured for long-term sustainable growth.
Organizational stability is absolutely essential as each TAMID Group will be managing a major
endowment and an investment fund.

Organizational succession will be managed by the formation of a national TAMID Group

organization. We are currently in the process of recruiting several young professionals with
experience in Jewish non-profit management to lead the national TAMID organization. A national
director will be hired by January 1, 2010 and a national organization will be formed shortly
thereafter. Organization sustainability within each TAMID chapter will be managed internally and
overseen by the national organization. In case of mismanagement or failure, all repository funds will
be transferred from the failed chapter to the national organization.

TAMID is also exploring the possibility of partnering with a prominent national Jewish organization
to facilitate organizational sustainability and growth.

Within each TAMID Chapter, all Executive Board members will assume their positions with one
and half years of experience in the organization and they will make one year commitments to the
Executive Board. TAMID directors and assistant directors will be required to have served on the
Executive Board for one year and will thus make two year leadership commitments.

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 VIII. Donor Involvement

The TAMID Israel Investment Group will be entirely funded by tax-exempt donations. By
supporting TAMID, donors are investing in the human capital of the next generation of Jewish
leaders. Donations will be accepted from any individuals, foundations, and organizations who take
an active interest in the goals of TAMID.

The allocation of a sample donation is as follows:

Donors will have an opportunity to play a very active role in TAMID or to take a more passive
approach if they prefer to do so. All donors will receive quarterly reports detailing the progress of
TAMID and including statistics on the success of the fund. Furthermore, all donors will receive a
comprehensive annual organizational report. Interested donors will have an opportunity for
constant interaction with the students and will provide guidance for the executive board throughout
the educational, fundraising, and investing process. Donors are invited to attend any executive board
meetings and investment team meetings as observers.

A major effort will also be undertaken to raise funds on campus from student donors. Although this
will only account for a marginal portion of the overall funds generated, such an effort will actively
engage the entire campus community in TAMID’s cause as well as raise publicity among the student
body. We will be searching for a donor to match the total student donations.

In addition, the TAMID website will contain a fully functional online donations application.

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 IX. How is TAMID Different?

1) Masa Israel Journey: “MASA enables young Jews from all over the world to spend a semester to a year in
Israel on any of over 160 programs.”

 MASA has no programming to connect Jewish youth with Israel’s dynamic economic
landscape

TAMID is an educational initiative centered on Israeli business, which provides students hands on
experience engaging this flourishing economic landscape.

 MASA only provides funding for educational programs in Israel

TAMID Fellows will receive a stipend for garnering real work experience in Israel

2) Stagerim: Jewish Agency Program for Internships in Israel: “Interns work in their professions in
a wide variety of disciplines, including medicine, tourism, hi-tech, law, education, social service, communications,
government, etc. Each job placement is tailor-made, based on the needs of the employer and the qualifications of
the applicant.”

 Stagerim participants are paid a mere $75/ month. This is not enough compensation to excite
a college student and attract them to a competitive job in Israel

TAMID will pay students $5,000 for two months of work. This is a substantial sum and will fully
compensate for flight, apartment rental and living expenses.

 Stagerim does not provide internship opportunities with top Israeli firms which will facilitate
the personal and professional growth of business-minded students.

TAMID will provide students an opportunity to work in real, professional environments at Israeli
businesses. TAMID fellows will have significant responsibilities, as they would on Wall Street, and
will gain a resume building experience that will further their professional aspirations

3) Israel Chamber of Commerce: “As the country's largest employers association, FICC is one of the
leading members of the coordinating council of Israel's economic organization, and represents the interests of
Israel's business sector, including exporters and importers, wholesale and retail, services and manufacturers.”

 Israel Chambers of Commerce have no measure in place to ensure that American business
students, the next generation of Jewish leaders, will have economic ties to Israel.

TAMID is actively instilling a commitment to Israeli business in each of its participants, all of whom
are college aged students. These students are future American business leaders and the future Jewish
philanthropists and investors in Israel. It is imperative that the Jewish community in the Diaspora
works to ensure a lasting, intergenerational connection to Israel.

20
 X. Vision

Our vision is to create an organization that will change the future of the Jewish people.

TAMID will become a national organization in the next 5 years, with sites at every elite university in
the United States whose undergraduate programs place students in top businesses in the American
job market. This organization will engage students from across the nation in a common movement
of supporting Israel while developing professional skills and investing experience.

As TAMID grows, we will harvest a massive network of human capital consisting of the brightest
Jewish American minds, deployed to align Israel’s entrepreneurial future with American students’
personal and professional interests. We envision students graduating from the colleges like the
University of Michigan, the University of Pennsylvania, Northwestern University, Harvard College,
University of Maryland, UCLA, and Columbia Universities – after completing the TAMID program
and spending several years of their college experience actively involved with investing in Israel.
These students will enter the workforce and eventually rise to prominent positions in international
business, politics, and other fields. As they do so, they will inevitably maintain the connections with
Israeli firms, Israeli business leaders, and Israeli peers that they had developed in their formative
years with TAMID. Such relationships will allow our generation to build upon the successes of past
generations by becoming actively engaged in the future of the Jewish people from an early age and
continuing this involvement in their professional careers and through the rest of their lives.

Additionally, we envision TAMID to be a recruitment opportunity for Israeli companies by granting

them access to an unparalleled source of business-educated American students considering job
placement in Israel. Students who have an active interest in making Aliyah will have the opportunity
to make the necessary professional connections to guide them in making important lifetime
decisions.

Finally, TAMID will build and develop the next generation of Jewish leaders who care about their
people and seek opportunities to turn their deepest emotions into effective action. This network of
pioneers, entrepreneurs, and innovators will begin at the university level through regional on-campus
TAMID sites and will grow to permeate a dynamic network of Jewish business Zionists.

This generation is ready and willing to take the future of the Jewish people into their hands and
build it into something truly great. The TAMID Israel Investment Group is an extraordinary vehicle
to facilitate this revolution.

21
 XI. General Organizational Growth

The University of Michigan site will be piloted for a year. After a successful pilot program,
preparations will be made to expand TAMID and open two new sites on university campuses.

Initial discussions will begin in May 2009. These two sites will begin functioning on January 1, 2011
and the investing of their funds will commence on September 1, 2011.

In May of 2011, discussion will begin to open the next three TAMID sites. The third round sites will
begin functioning on January 1, 2012 and will begin investing on September 1, 2012.

In May of 2012 plans will be made to open a national office and to open the next six TAMID sites.
By January 1, 2013 the national office will be open to coordinate and support all of the TAMID sites
and to direct expansion activity. At that time, the national office will oversee twelve

Below is a diagram to show the projected organizational growth of TAMID, along with sample
campuses at which TAMID sites could be located.

January 1, 2009 January 1, 2013

January 1, 2011

January 1, 2012

22
XII. Pilot Program
The TAMID concept is currently being piloted at the University of Michigan since September 1,
2008. The University of Michigan was chosen as the pilot site because the co-founders of the
organization are presently students there. The idea for TAMID was developed one late night in the
South Quad Dormitory. It originally came up as a means of supporting Israel against divestment
initiatives and has since developed into a much greater and further reaching project.

A. The TAMID Michigan Executive Board

Sasha Gribov, 20
Director
Cleveland, Ohio
Majors: Finance and Strategy

Prior Experience:
 AXA Advisors LLC, Intern to Executive Vice President
 GreenSun Energy LTD, Business Development and
Strategy intern for Israeli hi-tech startup
 Chair, American Movment for Israel – a pluralistic Zionist
organization at the University of Michigan

Eitan Ingall, 20
Director
Bethesda, Maryland
Major: Strategic Management and Sustainable Development

Prior Experience
 Presentense Institute - Fellow
 Assistant to the President, Dershowitz Group – A
Washington D.C. policy based public relations firm
 President, Israel IDEA – A pro-Israel political advocacy
organization at the University of Michigan

Garrett Levenbrook, 20
Associate Director
Wayne, New Jersey
Majors: Finance, Strategy
Minor: Near Eastern Studies

Prior Experience:
 Arba Finance Venture Capital – Intern
 Bear Sterns – Institutional Equities &
Operations Intern

23
XII. Pilot Program (continued)

Evan Plisner , 20
Farmington Hills, Michigan
Fund Manager
Majors: Economics and Program in the Environment
Prior Experience:
 Global Data Intern, Bloomberg LP
 Holds the FINRA Series 65 registration
 Michigan Interactive Investments, President

Brett Siegal, 19
Cleveland, OH
Vice President, Fundraising
Major: Finance and Economics,
Minor: Chinese Language

Prior Experience
 Key Banc Capital Markets, Intern
 Cleveland Federal Reserve Bank, Intern
 Forest City Real Estate National Residential Marketing, Intern
 United Synagogue Youth (USY) Regional President
 Cleveland Jewish Federation College Fundraising Outreach Co-
coordinator

Corey Matthew Friedberg, 20

Woodcliff Lake, NJ
Major: Economics

Prior Experience
 Wachovia Securites: CMBS and CDO origination
and securitization
 K&L Gates: Structured Finance (CMBS, CMBX,
CDO, Synthetic CDO)
 Credit Suisse: Rotational program split between:
Global Real Estate Hedge Fund specializing in
REITS and Leveraged Finance Hedge Fund
 Elliot Management: Private Equity Hedge Fund
with over 12B under management.

24
XII. Pilot Program (continued)

Mike Kaplan, 22
Chicago, Illinois
Major: Economics

Prior Experience:
 Arba Finance, Intern at Israeli Venture
Capital firm
 Bank Hapoalim – Intern at major Israeli Bank

Benjamin Kaminsky, 19
Hong Kong
Major: Finance

Prior Experience:
 Allianz AG, Intern
 Woori Global Markets Asia, Intern

Joshua Myles Bloom, 22

Ann Arbor, Michigan
Majors: Accounting and Finance

Prior Experience:
 Intel Finance
 Yahoo Finance
 BIAD, Economic Development Center

Elianna Sara Starr, 20

Sharon, MA
Majors: Finance, Accounting, Strategy

Prior Experience:
Walt Disney Company, Strategic Operations Initiatives Intern
CVS Corporation, Online Marketing Intern
Partners HealthCare Inc., Marketing and Strategy Intern

25
XII. Pilot Program (continued)

Joel (Chaim) Matthew Frenkel, 19

Silver Spring, MD
Major: Undecided

Prior Experience
 Choicepoint, Inc. – Intern to CFO of Government Services
 EarthSearch Communications – Intern
 Total Comfort Installation – Intern
 Smithsonian Institute – Treasury Department
 Frenkel & Knizhnik Photography – Co-founder
 JobSwagger.com - Founder

Daniel Charles Gutman, 20

Highland Park, IL
Major: Business
Minor: Political Science

Prior Experience:
 William Blair – Institutional Sales and
Trading Intern
 Congressional District Office of Rahm
Emanuel - Intern

Hal David Kominsky, 20

Cleveland, OH
Major: Neuroscience

Prior Experience:
 Cleveland Clinic Hospital –
Science Internship Program
Participant & Mentor
 University of Michigan Cancer
Center – Intern/Researcher

26
XII. Pilot Program (continued)

Ilana Leykekhman, 19
Chicago, IL
Majors: Corporate Strategy & Finance
Minor: Art History

Prior Experience:
 Quantum Events USA, Inc. – Marketing Intern
 Chair, My Bear Mitzvah, Hillel Donations
Procurement

Chad Michael Schwartz, 20

Highland Park, IL
Majors: Finance and Management

Prior Experience:
 Metro Commercial Real-Estate Brokerage
Firm - Intern
 Park District of Highland Park – Basketball
Coach and Referee

27
IX. Conclusion

In our minds, the future of the Jewish People’s connection to the State of Israel hinges upon one
crucial transformation: our generation needs to pioneer a paradigm shift from viewing Israel as a
distant place for donations and vacation. We will revitalize a vision of the Jewish homeland, the
Land of Milk and Honey, as a magnificent country for prosperity, and innovation, which is an
integral component of Am Echad — one Jewish nation. As the tradition teaches, the Jewish people
are to be an “Or L’Goyim,” a light unto the nations, and Israel is emerging at the epicenter of this
vision.

Ultimately, however, in order to engage busy American Jewish students—future leaders of the
world—we must align this vision with their personal and professional aspirations. In this way
TAMID reinvents Hasbara, Israel advocacy, in a way that reaches students in their current space.

TAMID is the way to engage our generation of students, leaders and businessmen with a positive
vision for the Jewish People and Eretz Yisrael. TAMID will instill in each participating student an
incredibly unique commitment to Israel and their Jewish Identity: It is a commitment to Israel and
the Jewish people through their own lenses—vis-à-vis their own interests and ambitions—in a
profoundly deep and substantive manner, which will emerge as a cornerstone, guiding value through
their professional careers and the rest of their lives.

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 Appendix I

DEAR INVESTOR,

Equity Allocation
The month of October has been a truly unusual experience; as one economist pointed out,
three to ten standard deviation events now occur with some regularity. Subsequently, we
believe a more prudent approach to asset allocation must be undertaken. With this in mind, we
have reduced our allocation to TASE – Listed securities to 15% in an effort to reduce the
excess volatility experienced in Israeli’s comparatively smaller equities market. As true
fundamental investors, however, we have eschewed from significantly underweighting equities
as an asset class; rather, we are of the belief that while the interconnectedness of the Global
economic slowdown will reduce future earnings, current equity values more than reflect this
notion.

With their heavy weighting towards smaller technology firms, the Yeter 120 will continue to
struggle. As a result of tighter credit standards and reductions in capital expenditures, we no
longer believe our Yeter 120 position to be appropriately sized and are reducing our holdings
to 5% of Board managed assets, from 10%.

One position we would like to highlight is our increased interest in Israel Chemicals Ltd.
(TLV:ICL). Israel Chemicals, is a multi-national Israeli manufacturing concern that develops,
produces and markets fertilizers, metals and other special-purpose chemical products. IC, like
all firms in the chemical and industrial space, has seen its shares fall precipitously in the past
quarter. Upon completion of our corporate and market analysis, we believe IC’s market
position and product line should provide greater resistance to the weakness in both
agrichemicals and minerals alike. Additionally, we believe phosphate currently exhibits an
attractive risk/reward value.

Fixed-Income Allocation

In preparation for a prolonged period of economic distress, CPI linked government bonds
(Galil) have been all but abandoned by many fixed-income managers. We, like managers at Bill
Gross’s PIMCO, believe that while a slow-down is inevitable, the current pricing of a number
of inflation-linked bonds do not accurately reflect the intrinsic values of the securities.
Additionally, the actions taken by global central banks to reduce interest rates and dramatically
enhance global credit liquidity should result in textbook currency weakness and subsequent
inflation. With this in mind, TAMID plans to increase our Galil position to 15%.

29
 Appendix I (continued)

As a result of declining U.S. interest rates, we have also sped up our move out of money
market and equivalent funds and into medium dated assets. We believe this trend will become
increasingly attractive as money market yields approach zero.

Hedges
In order to further reduce portfolio risk, we have continued to hold our USD/NIS hedge,
and plan to do so for some time. Because we expect Israeli interest rates to follow the global
trend downward, we expect this hedge to prove especially useful.

We sincerely appreciate your continued vote in Tamid; your contributions have, and will continue to
make a profound impact on Jewish youth and the next generation of Jewish business leaders. Please
feel free to contact me, Eitan or Sasha should you have any questions, comments or concerns you
would like to discuss.

B’shalom,

Evan David Plisner

VP of Fund Management
TAMID Israel Investment Group Ltd.
Mobile: (248) 762-8111

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Appendix II

31