The Arik Institute for Reconciliation Tolerance & Peace was established by Yitzhak Frankenthal. A businessman until July 1994, Yitzhak relinquished his business interests following Arik's death and focused his energies on public activities aiming to foster reconciliation, tolerance and peace. He soon established the "Parents Circle - Families Forum" - an organisation of over 500 bereaved Israeli and Palestinian families sharing a common sentiment: "If we, who have lost our dear ones, do not seek revenge and hatred but reconciliation - so can anyone". Yitzhak managed it for almost a decade before establishing the Arik Institute.

The Arik Institute was established to resolve the reactions of repression and denial among both the Israeli and Palestinian populations.

Arik Institution believes that the idea of peace is universal and should not have political connotations. Therefore it is a non political organisation, in support of any leader of any political party who will lead the country towards peace.

Projects include workshops, public relations campaigns, demonstrations and a Joint Palestinian-Israeli "Peace-force" of activists engaging in reconciliation and peace.