|Wolf Prize||Krill prize|
The Wolf Foundation began its activities in 1976, with an initial endowment fund of $10 million donated by the Wolf family. The Foundation's founders and major donors were Dr. Ricardo Subirana y Lobo Wolf and his wife Francisca. Annual income from investments is used for prizes, scholarships and Foundation operating expenses.
The Foundation has a status of a private not-for-profit organization. Its objectives and prize administration details and procedures are grounded in the "Wolf Foundation Law-1975". Israel's State Comptroller oversees all Foundation's activities. In accordance with the above-mentioned Law, the Minister of Education and Culture acts as Chairman of the Council.