The Magbit Foundation focused primarily on providing interest-free loans and scholarships to deserving students in Israel and the United States, aiming to facilitate their higher education pursuits. This foundational mission, centered on educational empowerment, has driven the foundation's activities for over three decades.
Following the October 7th attacks in 2023, while our core mission remains unchanged, we have increased our support to muiltiple resources and efforts to address the immediate needs arising from this crisis. Our response includes expanding our focus to offer humanitarian aid, support for security forces, and medical and mental health care to the affected communities in Israel. These initiatives are part of a comprehensive strategy to not only continue supporting education but also to aid in the rebuilding and recovery of Israel during this critical time.
United We Shall Prevail
We are the Army behind the Army
In 1991 Magbit Foundation raised the sum of $500,000 for Operation Exodus, helping Jewish people making Aliyah, going home to Israel, their homeland, (to Zion).
The Magbit Foundation supports Israeli university students through an "Interest-Free Loan" program, helping them complete their studies while fostering responsibility. Initially partnering with six institutions, the program now benefits students at 16 universities and colleges, with loan repayments funding future students.
In the year 2002 Magbit Foundation raised the sum of $1,000,000 and sent to victims of terror in Israel
In 2023-2024 Magbit raised the sum of $3,200,000 for victims of terror, from the October 7th, 2023 terror attack on Israel.
United We Shall Prevail
We are the Army behind the Army
FAQ
Email info@magbit.org to get in touch with our team on how to become a part of the Magbit Foundation.
Yes, the Magbit Foundation is a 501(c)(3) founded 34 years ago by leaders of the Los Angeles community. Each year, the organization provides hundreds of thousands of dollars of interest-free loans and scholarships to deserving and qualified students. The interest-free loans are repaid by the students and the funds are used to provide new loans. Therefore, every dollar donated provides generations of benefits.
A new board of directors is elected every 3 years.
Email info@magbit.org to get in touch with our team on how to become a part of the Magbit Foundation board of directors.
There are 21 Board of Directors; 14 board members are elected by donors to the foundation and 7 board members are selected by the Magbit Board of Trustees.
Your donation provides interest-free loans and scholarships to students.
Since the start of the Israel Emergency Fund, donations have been made to various organizations and army units working towards aiding our Jewish Homeland.
Donations are allocated based on the needs of students, victims of terror, reservists, and the general needs of the state of Israel.
Our student loan committee grants interest-free loans and scholarships to frontline reservists and students based on a holistic review of each application.
Our distribution committee, which has brought together many highly-qualified and high-ranking army generals, social workers, and professionals, distributes funds from our Israel Emergency Fund after identifying on a case-by-case basis the most significant and needy cases affected by the Iron Swords war.