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EIN 95-4307648

Magbit Foundation

IRS 501(c) type
501(c)(3)
Num. employees
1
City
Beverly Hills
State
California
Year formed
1991
Most recent tax filings
2022-12-01
NTEE code, primary
Z99: Unknown
Description
Magbit Foundation supports Jewish causes and charities through funding of organizations, such as p.e.f. Israel endowment funds and American Friends of Ariel University.
Total revenues
$1,679,698
2022
Total expenses
$501,357
2022
Total assets
$2,448,864
2022
Num. employees
1
2022

Program areas at Magbit Foundation

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 p.e.f. Israel endowment funds, american friends of ariel university, sackler school of medicine, and many other universities and colleges.

Grants made by Magbit Foundation

GranteeAmount
Regents of the University of California / Office of the President$31,000
Sackler School of Medicine$22,000
University of Southern California (USC)$10,000
...and 1 more grant made

Who funds Magbit Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Jewish Communal FundIn Furtherance of Grantee's Tax-Exempt Purpose$81,600
National Philanthropic TrustPublic, Societal Benefit$52,000
The Zarabi Family FoundationGeneral Operating Support$32,000
...and 6 more grants received

Personnel at Magbit Foundation

NameTitleCompensation
Gina RofeemExecutive Director$120,000
Sasha Farahi, Esq.President$0
Daniel Manzoor-MandelVice President$0
Benjamin NazarianChairman of Board / Chairman / President$0
Behrooz BroukhimChairman / President$0
...and 7 more key personnel

Financials for Magbit Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$2,138,512
Program services$0
Investment income and dividends$-20,587
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-438,227
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$1,679,698

Form 990s for Magbit Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-10990View PDF
2021-122022-11-15990View PDF
2020-122021-11-15990View PDF
2019-122021-03-31990View PDF
2018-122019-12-13990View PDF
...and 8 more Form 990s

Organizations like Magbit Foundation

OrganizationLocationRevenue
Jewish Home Foundation of North JerseyRockleigh, NJ$3,200,514
ElluminateNew York, NY$1,550,640
Jewish Foundation for the Righteous (JFR)West Orange, NJ$1,667,757
Spencer Educational FoundationNew York, NY$2,712,012
St Joseph's Hospitals FoundationTampa, FL$5,608,522
Naval War College FoundationNewport, RI$4,293,682
The Lenny Zakim FundBoston, MA$865,291
B'nai B'rith International (BBI)Washington, DC$7,681,450
Daughters of Sarah Jewish FoundationAlbany, NY$1,314,517
Catholic Community FoundationTempe, AZ$7,733,823
Data update history
July 12, 2024
Received grants
Identified 4 new grant, including a grant for $81,600 from Jewish Communal Fund
January 2, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 27, 2023
Received grants
Identified 3 new grant, including a grant for $10,000 from Yari Family Foundation
July 16, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 26, 2023
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Grantmaking organizationsCharities
Issues
No issues found
Characteristics
JewishReligiousProvides grantsFundraising eventsOperates internationallyEndowed supportGala fundraisersTax deductible donationsAccepts online donations
General information
Address
9420 Wilshire Blvd 400
Beverly Hills, CA 90212
Metro area
Los Angeles-Long Beach-Anaheim, CA
County
Los Angeles County, CA
Website URL
magbit.org/ 
Phone
(310) 273-2233
IRS details
EIN
95-4307648
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1991
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
Z99: Z99
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
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