In the year 2000, Sharon Nazarian finished her dissertation, and decided that the kind of philanthropy that her family was involved in was simply about check writing. Basically all they really were doing is providing some sort of funding to institutions that were already there. Sharon Nazarian decided that there would be a need of a strategic plan because to have lasting impact, a vision was needed. As a result. Sharon created the Y&S Nazarian Family Foundation that year. The family was already involved in Israel, and most of their philanthropy went to helping the Israel defense forces, the schools, and the hospitals, but without a clear vision or a real plan.

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