Magbit Foundation
THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO PROVIDE AID TO AND TO SUPPORT JEWISH CAUSES AND CHARITIES.
Key facts about Magbit Foundation
- EIN
- 95-4307648
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $70,500
- Grants made (2024)
- 6
- Average grant
- $11,750
- Median grant
- $11,500
- Total assets
- $5,351,330
- Primary geography
- California (35% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Magbit Foundation funds
By grant dollars, the top recipient states for Magbit Foundation's 6 itemized 2024 grants were California (35%), Massachusetts (21%) and Nebraska (18%).
How Magbit Foundation gives
- Giving fell 49% from 2021 to 2024. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Next steps with Magbit Foundation
- How to evaluate Magbit Foundation as a funder
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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
Share of all 6 itemized 2024 grant dollars.
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 | — | — | — |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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 recipients include Massachusetts Institute of Te ($15,000), UC Regents ($15,000), Creighton University ($13,000).
| Recipient | Purpose | Amount |
|---|---|---|
| Massachusetts Institute of Te Cambridge, MA | — | $15,000 |
| UC Regents Oakland, CA | — | $15,000 |
| Creighton University Omaha, NE | — | $13,000 |
| Chamberlain University Palatine, IL | — | $10,000 |
| Stanford University Redwood City, CA | — | $10,000 |
| University of Colorado Aurora, CO | — | $7,500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 IRS 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.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings.