Mission
THE SPECIFIC PURPOSE OF THE FOUNDATION IS TO PROVIDE AID TO AND TO SUPPORT JEWISH CAUSES AND CHARITIES.
Public Charity
MAGBIT FOUNDATION
MAGBIT FOUNDATION, of BEVERLY HILLS, CA, is a Public Charity tracked in Imperigo's IRS 990 database. The 2024 filing shows $4.6M in revenue, $2.2M in expenses, $5.4M in total assets. 20 publicly reported grants to this organization, totaling roughly $571K, appear in IRS filings.
EIN: 954307648
BEVERLY HILLS, CA
Latest filing: 2024
Total Revenue$4.6M
Total Expenses$2.2M
Total Assets$5.4M
Grant Records20
Funding Total$571K
Filing Years2019–2024
Sample Grants Received
For grant recipient's exempt purposes
$47,850
RELIGION
$35,000
DONATION
$15,000
CULTURE & ARTS
$15,000
PUBLIC, SOCIETAL BENEFIT
$11,800
Showing up to 5 of 20 total records — full history available with membership.
Officers & Directors
Vice President
Doran Adhami
Chairman
Dora Nazarian
Chairman
Ebrahim Simhaee
Secretary
Emily Khalili
EXECUTIVE DIREC
Gina Rofeem
President
Hank Dayani
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2024 | $4.6M | $2.2M | $5.4M |
| 2023 | $1.4M | $850K | $3.0M |
| 2022 | $1.7M | $501K | $2.4M |
| 2020 | $139K | $915K | $1.6M |
| 2019 | $1.2M | $322K | $2.3M |
Between 2019 and 2024, reported annual revenue grew from $1.2M to $4.6M (+285%), with total assets most recently reported at $5.4M.
Interactive year-over-year charts and full filing details available with membership.