Magbit Foundation
THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO PROVIDE AID TO AND TO SUPPORT JEWISH CAUSES AND CHARITIES.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$5.4M
+77.8% YoY
Annual Giving
$71K
-53.0% YoY
Grant Count
6
-25.0% YoY
Avg Grant Size
$12K
-37.3% YoY
About Magbit Foundation
Based on IRS filings
Magbit Foundation is a nonprofit organization, based in BEVERLY HILLS, CA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $5.4M in total assets. In 2024, it awarded 6 grants totaling $71K. Net investment income was $181K.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $5,351,330 | $3,009,129 | $2,448,864 |
| Revenue | $4,565,941 | $1,407,554 | $1,679,698 |
| Expenses | $2,221,220 | $850,390 | $501,357 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $181,141 | $73,140 | $-20,587 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
42 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Massachusetts Institute of Te ($15,000), UC Regents ($15,000), Creighton University ($13,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Chamberlain University Palatine, IL | — | $10,000 |
| Creighton University Omaha, NE | — | $13,000 |
| Massachusetts Institute of Te Cambridge, MA | — | $15,000 |
| Stanford University Redwood City, CA | — | $10,000 |
| UC Regents Oakland, CA | — | $15,000 |
| University of Colorado Aurora, CO | — | $7,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GINA ROFEEM | EXECUTIVE DIREC | 40 | $124,186 |
| Dora Nazarian | Chairman | 1 | — |
| Peter Cohen | Vice President | 1 | — |
| Doran Adhami | Vice President | 1 | — |
| Ebrahim Simhaee | Chairman | 1 | — |
| PAUL RAHIMIAN | Treasurer | 1 | — |
| Hank Dayani | President | 1 | — |
| Emily Khalili | Secretary | 1 | — |
| Tiffany Mikail Bensadigh | Vice President | 1 | — |
| Josh Simhaee | Treasurer | 1 | — |
Frequently Asked Questions
How large is Magbit Foundation?
As of 2024, Magbit Foundation holds $5.4M in total assets with $4.6M in annual revenue. It awarded 6 grants totaling $71K in 2024.
Where does Magbit Foundation operate?
Magbit Foundation has awarded grants in California, Colorado, Florida, Illinois, Massachusetts, Nebraska, New York.
What size grants does Magbit Foundation award?
In 2024, Magbit Foundation awarded 6 grants totaling $71K — an average of about $12K per grant, based on its IRS Form 990 filings.
What is Magbit Foundation's EIN?
Magbit Foundation's EIN (Employer Identification Number) is 95-4307648. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Magbit Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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