NonprofitsMagbit Foundation

Unclassified

Magbit Foundation

BEVERLY HILLS, CA

Total revenue

$4.6M

Total expenses

$2.2M

Net assets

$5.4M

Grants received

$573K

31 grants

EIN

954307648

Tax year

2024

Mission

The specific purpose of the foundation is to provide aid to and to support jewish causes and charities.

Programs

1 program

The specific purpose of the foundation is to provide aid to and to support jewish causes and charities. To carry out the foundation's exempt purpose, magbit foundation has provided funds to many universities and colleges.

Expenses: $268KGrants: $268K

Financials

FY 2024

Revenue

Contributions & grants$5.0M
Program service revenue
Investment income$181K
Other revenue
Total revenue$4.6M

Expenses

Grants paid$1.8M
Salaries & benefits$347K
Fundraising
Other expenses$115K
Total expenses$2.2M
Total assets$5.4M
Net assets$5.4M

People

10 listed

NameRoleCompensation

GINA ROFEEM

EXECUTIVE DIREC

Board

$124K

40 hrs/wk

Dora Nazarian

Chairman

Board

1 hrs/wk

Peter Cohen

Vice President

Board

1 hrs/wk

Doran Adhami

Vice President

Board

1 hrs/wk

Ebrahim Simhaee

Chairman

Board

1 hrs/wk

PAUL RAHIMIAN

Treasurer

Board

1 hrs/wk

Hank Dayani

President

Board

1 hrs/wk

Emily Khalili

Secretary

Board

1 hrs/wk

Tiffany Mikail Bensadigh

Vice President

Board

1 hrs/wk

Josh Simhaee

Treasurer

Board

1 hrs/wk

Grants received

Showing 31 of 31

FromAmountPurposeYear
$25K
SUPPORT FOR WIDOWED AND ORPHANED INDIVIDUALS
2024
$10K
GENERAL OPERATING SUPPORT
2024
$10K
COMMUNITY & HUMAN SERVICES
2024
$3K
CHARITABLE DONATION
2024
$3K
GENERAL OPERATING SUPPORT
2024
$260
GENERAL OPERATING SUPPORT
2024
$45K
IN FURTHERANCE OF GRANTEE'S TAX-EXEMPT PURPOSE
2023
$10K
CHARITABLE
2023
$10K
GENERAL OPERATING SUPPORT
2023
$5K
GENERAL SUPPORT
2023
$3K
CHARITABLE DONATION
2023
$82K
IN FURTHERANCE OF GRANTEE'S TAX-EXEMPT PURPOSE
2022
$52K
PUBLIC, SOCIETAL BENEFIT
2022
$32K
GENERAL OPERATING SUPPORT
2022
$10K
IN HONOR OF BEN NAZARIAN
2022
$10K
CHARITABLE - PUBLIC
2022
$6K
CHARITABLE DONATION
2022
$3K
GENERAL OPERATING SUPPORT
2022
$43K
General Support
2018
$5K
GENERAL SUPPORT
2018
$22K
General Support
2017
$12K
PUBLIC, SOCIETAL BENEFIT
2017
$12K
FOR GRANT RECIPIENT'S EXEMPT PURPOSES
2017

Funded by

$573K from 19 funders · 31 grants · 2017–2024

Jewish Communal Fund

$192K · 4 grants · 2017–2023

California Community Foundation

$82K · 2 grants · 2022–2023

National Philanthropic Trust

$64K · 2 grants · 2017–2022

The Zarabi Family Foundation

$55K · 5 grants · 2022–2024

Miguel And Carmela Koenig Foundation

$30K · 2 grants · 2023–2024

Rastegar Foundation Inc

$25K · 1 grant · 2024

Details

EIN954307648
NTEE codeZ99Z
Subsection03
Ruling date1991-09
Formed1991
Employees1
MAGBIT FOUNDATION — Mission, Financials & Grants Received | Grantivo