American Friends Of Ogen Inc
- Assets
- $9.0m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- University Heights, OH
- Founding
- 05/1997
- Data as of
- 12/2022
- EIN
- 13-3691494
Organization Overview
American Friends Of Ogen Inc is located in University Heights, OH. The organization was established in 1997. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Friends Of Ogen Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, American Friends Of Ogen Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 45.0% each year . All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 45.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION MAY ENGAGE IN ALL FORMS OF CHARITABLE ACTIVITY (SEE CONTINUATION ON SCHEDULE O)WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS PRIMARILY ENGAGED IN PROVIDING INTEREST-FREE AND LOW INTEREST LOANS AND FINANCIAL EDUCATION TO INDIVIDUALS, FAMILIES, BUSINESSES AND NON-PROFIT ORGANIZATIONS IN ISRAEL THROUGH GRANTS TO THE OGEN-THE ISRAEL FREE LOAN FUND, AND ITS SUBSIDIARIES, COLLECTIVELY THE "OGEN GROUP".
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FURTHERANCE OF THE ORGANIZATION'S CHARITABLE PURPOSES, THE ORGANIZATION MADE GRANTS OF $1,555,532 TO THE OGEN-THE ISRAEL FREE LOAN FUND, AND ITS SUBSIDIARIES, COLLECTIVELY THE "OGEN GROUP", WHICH PROVIDES INTEREST FREE LOANS, LOW INTEREST LOANS AND FINANCIAL EDUCATION FOR LOW TO MIDDLE INCOME INDIVIDUALS AND FAMILIES, SMALL BUSINESSES AND NON-PROFITS.
AMERICAN FRIENDS OF OGEN - SLF, LLC, A DELAWARE LIMITED LIABILITY COMPANY THAT IS WHOLLY OWNED BY AMERICAN FRIENDS OF OGEN, INC., AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), PARTICIPATES ON BEHALF OF SOCIAL IMPACT FUND INVESTORS IN THE OGEN ISRAEL SOCIAL LOAN FUND, AN IMPACT INVESTMENT FUND PROGRAM OF OGEN-THE ISRAEL FREE LOAN FUND, AN ISRAELI NONPROFIT ENTITY, DESIGNED TO PROVIDE LOW-INTEREST LOANS AND FINANCIAL EDUCATION TO BUSINESSES, AND NONPROFIT ORGANIZATIONS OTHERWISE UNABLE TO ACCESS AFFORDABLE CREDIT, TO ENABLE THEM TO ACHIEVE SUSTAINABLE, TRANSFORMATIVE ECONOMIC SECURITY AND/OR MOBILITY, AND THEREBY TO RELIEVE THE POOR AND DISTRESSED AND PREVENT COMMUNITY DETERIORATION. THE PURPOSE OF THE LOAN IS TO ACCOMPLISH THE ABOVE-DESCRIBED PURPOSES AND NOT (SEE CONTINUATION ON SCHEDULE O)FOR PRODUCTION OF INCOME OR THE APPRECIATION OF PROPERTY. DURING AND AS OF 12/31/2022, AMERICAN FRIENDS OF OGEN - SLF, LLC HAS A NOTE RECEIVABLE FROM THE OGEN ISRAEL SOCIAL LOAN OF $8,141,000, AND NOTES PAYABLE TO SOCIAL LOAN FUND LENDERS OF $8,141,000, AND AN INTEREST RECEIVABLE FROM OGEN ISRAEL SOCIAL LOAN OF $105,647 AND INTEREST PAYABLE TO SOCIAL LOAN FUND LENDERS OF $105,647.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ari H Jaffe President And Director | OfficerTrustee | 2 | $0 |
Ben Jaffe Treasurer And Director | OfficerTrustee | 2 | $0 |
Robert Gottesman Secretary And Director | OfficerTrustee | 1 | $0 |
Michael Lustig Director | Trustee | 0.5 | $0 |
Ruth Salzman Director | Trustee | 0.5 | $0 |
Beth Sirull Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,654,736 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,654,736 |
| Total Program Service Revenue | $0 |
| Investment income | $127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,654,863 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,555,532 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,281 |
| Fees for services: Accounting | $62,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,715 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,636,057 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $748,978 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $17,900 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $657 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,246,647 |
| Total assets | $9,014,182 |
| Accounts payable and accrued expenses | $46,125 |
| Grants payable | $416,373 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,496,647 |
| Total liabilities | $8,959,145 |
| Net assets without donor restrictions | $55,037 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,014,182 |