The seventy year old American-Israel Cultural Foundation, Israel’s principal private funder of the arts, is the latest victim of the alleged Madoff Ponzi scheme and in danger of closing.

The Foundation reportedly lost $30 million from its endowment.

AICF has disbursed over $100 million throughout its history and counts among the many supported Itzhak Perlman, Menashe Kadishman, the Israel Philharmonic Orchestra, the Israel Museum and the Batsheva Dance Company.