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.
Geographies
Not indicated
Dates
Jan 1, 2022 – Dec 31, 2022
Source
990
No causes provided
No populations provided
–
$1.6M
Ogen Israel Social Loan Fund Program
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.