With the establishment of Israel, the Rothschild family made an agreement to transfer most of their vast land holdings to the new state. A different arrangement was reached however for the 35,000 dunams of land the family owned in and around modern Caesarea: After turning over the land to the state, it was leased back (for a period of 200 years) to a new charitable foundation. In his will, Edmond James de Rothschild stipulated that this foundation would further education, arts and culture, and welfare in Israel. The Caesarea Edmond Benjamin de Rothschild Foundation was formed and run based on the funds generated by the sale of Caesarea land which the Foundation is responsible for maintaining. The Foundation is owned half by the Rothschild Family, and half by the State of Israel.
The Foundation established the Caesarea Edmond Benjamin de Rothschild Development Corporation Ltd. (CDC) in 1952 to act as its operations arm. The company transfers all profits from the development of Caesarea to the Foundation, which in turns contributes to organizations that advance higher education and culture across Israel.