Civic Intelligence

Magbit Foundation

EIN 95-4307648 • 501(c)3 • Beverly Hills, CA

Profile

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

9420 Wilshire Blvd 400Beverly Hills, CA 90212

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

10th percentile

0.00x

Higher debt load relative to revenue than 10% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

90th percentile

51%

Higher net margin than 90% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

62nd percentile

$124,186

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

94th percentile

78%

Faster asset growth than 94% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

224%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$5,351,330

Up $2,342,201 (+78%) from 2023

Liabilities

Down

$581

Down $2,520 (-81%) from 2023

Net Assets

Up

$5,350,749

Up $2,344,721 (+78%) from 2023

Operations
Liabilities / Revenue10th percentileNet Margin90th percentile

Revenue

Up

$4,565,941

Up $3,158,387 (+224%) from 2023

Expenses

Up

$2,221,220

Up $1,370,830 (+161%) from 2023

Net Income

Up

$2,344,721

Up $1,787,557 (+321%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth94th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $942,037Liabilities 2011: $299Net Assets 2011: $941,7382011Assets 2012: $924,431Liabilities 2012: $0Net Assets 2012: $924,4312012Assets 2013: $1,065,106Liabilities 2013: $356Net Assets 2013: $1,064,7502013Assets 2014: $820,808Liabilities 2014: $488Net Assets 2014: $820,3202014Assets 2015: $861,130Liabilities 2015: $1,152Net Assets 2015: $859,9782015Assets 2016: $954,315Liabilities 2016: $485Net Assets 2016: $953,8302016Assets 2017: $1,243,933Liabilities 2017: $429Net Assets 2017: $1,243,5042017Assets 2018: $1,486,324Liabilities 2018: $4,274Net Assets 2018: $1,482,0502018Assets 2019: $2,348,711Liabilities 2019: $2,105Net Assets 2019: $2,346,6062019Assets 2020: $1,572,243Liabilities 2020: $1,279Net Assets 2020: $1,570,9642020Assets 2021: $1,273,743Liabilities 2021: $3,220Net Assets 2021: $1,270,5232021Assets 2022: $2,448,864Liabilities 2022: $0Net Assets 2022: $2,448,8642022Assets 2023: $3,009,129Liabilities 2023: $3,101Net Assets 2023: $3,006,0282023Assets 2024: $5,351,330Liabilities 2024: $581Net Assets 2024: $5,350,7492024

Highlighted filing

2024

Assets$5,351,330
Liabilities$581
Net Assets$5,350,749
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $708,027Expenses 2011: $610,444Net Income 2011: $97,5832011Expenses 2012: $727,7762012Revenue 2013: $1,052,427Expenses 2013: $912,108Net Income 2013: $140,3192013Revenue 2014: $731,115Expenses 2014: $975,545Net Income 2014: -$244,4302014Revenue 2015: $733,590Expenses 2015: $693,932Net Income 2015: $39,6582015Revenue 2016: $570,888Expenses 2016: $477,036Net Income 2016: $93,8522016Revenue 2017: $1,002,948Expenses 2017: $713,274Net Income 2017: $289,6742017Revenue 2018: $864,629Expenses 2018: $626,083Net Income 2018: $238,5462018Revenue 2019: $1,186,620Expenses 2019: $322,064Net Income 2019: $864,5562019Revenue 2020: $139,133Expenses 2020: $914,775Net Income 2020: -$775,6422020Revenue 2021: $100,182Expenses 2021: $400,623Net Income 2021: -$300,4412021Revenue 2022: $1,679,698Expenses 2022: $501,357Net Income 2022: $1,178,3412022Revenue 2023: $1,407,554Expenses 2023: $850,390Net Income 2023: $557,1642023Revenue 2024: $4,565,941Expenses 2024: $2,221,220Net Income 2024: $2,344,7212024

Highlighted filing

2024

Revenue$4,565,941
Expenses$2,221,220
Net Income$2,344,721
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$5,351,330
Liabilities
$581
Net assets
$5,350,749
Revenue
$4,565,941
Expenses
$2,221,220
Net income
$2,344,721
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.35$0.00$5.35$4.57$2.22$2.34
2023Detailed filing. Detailed filing data is available for this year.$3.01$0.00$3.01$1.41$0.85$0.56
2022Detailed filing. Detailed filing data is available for this year.$2.45$0.00$2.45$1.68$0.50$1.18
2021Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$0.10$0.40$0.30
2020Detailed filing. Detailed filing data is available for this year.$1.57$0.00$1.57$0.14$0.91$0.78
2019Detailed filing. Detailed filing data is available for this year.$2.35$0.00$2.35$1.19$0.32$0.86
2018Detailed filing. Detailed filing data is available for this year.$1.49$0.00$1.48$0.86$0.63$0.24
2017Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$1.00$0.71$0.29
2016Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.57$0.48$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.86$0.00$0.86$0.73$0.69$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.73$0.98$0.24
2013Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.06$1.05$0.91$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.00$0.92$0.73
2011Summary only. Only limited summary data is available for this year.$0.94$0.00$0.94$0.71$0.61$0.10
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$5,133,786
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$455,933$1,948,507▲ $1,492,574
Cash and Non-Interest-Bearing Accounts$663,543$1,774,554▲ $1,111,011
Savings and Temporary Cash Investments$1,855,987$1,571,686▼ $284,301
Prepaid Expenses and Deferred Charges$12,000$24,500▲ $12,500
Receivables From Officers Etc$14,186$22,975▲ $8,789
Land, Buildings, and Equipment, Net$7,480$7,480→ $0
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,009,129$5,351,330▲ $2,342,201
Other Assets Total-$1,628-
Liabilities
Other Liabilities$3,101$581▼ $2,520
Total Liabilities$3,101$581▼ $2,520
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,546,124$4,869,030▲ $2,322,906
Net Assets With Donor Restrictions$459,904$481,719▲ $21,815
Total Net Assets Fund Balance$3,006,028$5,350,749▲ $2,344,721
Total Liabilities and Net Assets / Fund Balance$3,009,129$5,351,330▲ $2,342,201

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,480--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$459,904-▲ $21,815-$481,719
2023$441,900-▲ $18,004-$459,904
2022$467,664-▼ $25,813-$441,851
2021$467,713-▲ $1,590-$469,303
2020$446,983-▲ $19,140-$466,123
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gina RofeemExecutive DirecFT$124,186$124,186

Board Members and Trustees

NameTitle
Dora NazarianChairman
Ebrahim SimhaeeChairman
Hank DayaniPresident
Doran AdhamiVice President
Peter CohenVice President
Tiffany Mikail BensadighVice President
Emily KhaliliSecretary
Josh SimhaeeTreasurer
Paul RahimianTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,952,645
Program Service Revenue
$0
Investment Income
$181,141
Other Revenue
$-567,845
All Other Contributions
$2,151,483
Change in Net Assets
$2,344,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,759,731
Salaries, Compensation, and Employee Benefits$346,858
Other Expenses$114,631
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$1,624,632--$1,624,632
Pension Plan Contributions-$214,145-$214,145
Current Officers, Directors, Trustees, and Key Employees-$124,186-$124,186
Grants to Domestic Orgs$82,100--$82,100
Grants to Domestic Individuals$52,999--$52,999
Other Expenses-$13,504-$13,504
Fees for Services Legal-$9,183-$9,183
Insurance-$8,965-$8,965
Payroll Taxes-$8,527-$8,527
Fees for Services Other-$6,100-$6,100
Fees for Services Accounting-$5,540-$5,540
All Other Expenses-$3,082-$3,082
Office Expenses-$512-$512
Total Functional Expenses$1,759,731$461,489$0$2,221,220
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Massachusetts Institute of TeCambridge, MA--$15,000
UC RegentsOakland, CA--$15,000
Creighton UniversityOmaha, NE--$13,000
Chamberlain UniversityPalatine, IL--$10,000
Stanford UniversityRedwood City, CA--$10,000
University of ColoradoAurora, CO--$7,500

International Summary

Spending
$860,197

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
IsraelCharity-00$742,697
IsraelGrants and Scholarships-00$117,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$567,845
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$2,703,242-$167,290-
Mpire$97,920-$12,189-
Total Events$2,801,162-$567,845$-567,845
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$14,186$22,975▲ $8,789
Receivables from Disqualified Persons-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$581
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Review by the board of directors and treasurer”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Magbit Foundation
EIN
95-4307648
Phone
3102732233
Address
9420 WILSHIRE BLVD 400, BEVERLY HILLS, CA 90212

Signing Officer

Name
Gina Rofeem
Title
Executive Director
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
CA
Voting Board Members
10
Independent Board Members
10
Employees
1

Preparer

Firm
Kelman & Chan Llp
Address
23622 Calabasas Rd Ste 350, Calabasas, CA 91302
Preparer
Natalya Goldlist
Phone
8185919094
Raw XML AppendixShowing 400 of 642 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIREC
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt6President
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice President
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