Ogen Annual Report 2023

Dear Friends,

At Ogen, we provide access to capital to create sustainable financial health. However, our mission extends far beyond lending. We are a catalyst for growth, offering unwavering support, essential financial tools, and empowering knowledge to tens of thousands of underserved Israelis every year. In these times of soaring interest rates, inflation, societal upheaval, and economic uncertainty, the demand for Ogen's life-changing loans is more pressing than ever.

Despite the ever-changing landscape, one thing has remained constant: Ogen's unwavering commitment to Professor Eliezer Jaffe’s z”l visionary legacy since its inception as the Israel Free Loan Association (IFLA) over three decades ago. From its humble beginnings as an interest-free loan fund, Ogen has evolved into a dynamic platform of financial inclusion, propelling individuals and communities towards greater financial well-being.

Over the past year, Ogen has embarked on a strategic consolidation and rebranding journey, aimed at enhancing our ability to serve three distinct populations: individuals and families, small businesses, and non-profit organizations. By merging our lending arms, mentorship activities, and financial guidance under one roof, we offer customized, comprehensive solutions to our beneficiaries. This reorganization has enabled us to establish groundbreaking collaborations with the Israeli government, scaling our impact to new levels.

As a recognized advocate for the financially disadvantaged, Ogen secured seven significant projects in collaboration with the government that have a profound impact on thousands of Israelis living on the social periphery. With a total value of 160M NIS ($45M), these initiatives provide comprehensive economic solutions on a macro-economic scale, addressing the needs of vulnerable communities and fostering greater financial inclusivity. Amid political instability and budget constraints, your philanthropic support has empowered Ogen to overcome challenges, achieve goals, and extend our reach.

In the past year, our lending surged to 255.5M NIS ($73M), positively impacting countless individuals and families. This commitment facilitated transformative, interest-free loans for thousands of people. We have also reduced interest rates for small businesses and non-profit organizations, ensuring fair access to capital for their growth and success. Amid the challenging economy, we've responsibly adjusted annual targets to protect businesses and nonprofits from excessive loan burdens. Thanks to the invaluable support of our donors and impact investors, we successfully raised a second Bond of 150M NIS ($42.5M), enabling us to expand our efforts to provide affordable credit.

We extend our sincere appreciation to our institutional investors and forward-thinking impact philanthropists, whose initial contributions made this remarkable achievement possible.

We are deeply grateful to our donors, partners, board members, and volunteers, as your contributions have made a tangible difference in the lives of many. Your belief in our mission is instrumental in driving positive change and creating opportunities for those in need.

Looking ahead, we are excited to continue our momentum and expand our reach. With ambitious plans for growth and a new, larger office on the horizon, we are confident that together with your continued support, we will achieve our goals.

Thank you for joining us on this transformative journey.

Sagi Balasha, CEO

Ofir Ozeri, Chairman

Ogen at a Glance…

$500MM Total loaned since 1990

75,000 Loans Made

$147MM Current Credit Portfolio

$56MM Raised in Securitized Bonds, February 22- June 23

95 Employees

0.7% Loan default rates since 1990

Ogen Lending Annual Growth (USD

MM)

Individuals and Families

Ogen is dedicated to transforming the lives of families and individuals in Israel facing financial distress by providing life-changing loans alongside comprehensive recovery tools. With invaluable expertise, step-by-step professional guidance, and a focus on building financial capacity, Ogen empowers those most in need. By identifying market gaps and addressing key areas of concern, such as families burdened by debt, aspiring homeowners, those with credit challenges, and underserved job seekers, Ogen offers a holistic intervention package that goes beyond access to credit. This approach grants families and individuals a fresh start, enabling them to embark on a sustainable path towards financial stability.

Ogen's Impact this Year

2,417 $21.7M $6,428 350

Homes purchased this year with Ogen’s support!

What's New?

Powerful Partnerships: Breakthrough Collaboration with the Government

This year marked an unprecedented collaboration with the government to expand our operations and reach more vulnerable populations in need. Ogen has emerged as a recognized platform and partner for addressing deeply rooted economic challenges in Israeli society. Through strategic partnerships with seven government ministries, including the Aliyah and Absorption Ministry and the Ministry of Justice, we have successfully implemented a range of impactful initiatives on a nation-wide scale. Among others, these include:

“Adiso Beita" - First Home in Amharic supports 2,000 Ethiopian immigrants facing barriers navigating their legal rights and utilizing their absorption package due to language and cultural differences. Ogen's dedicated, Amharic-speaking staff provide guidance and support throughout the process, empowering Ethiopian families to purchase their first homes. This program not only facilitates the successful integration of immigrants into Israeli society, it's also creating much needed space in absorption centers for new immigrants waiting to make Aliyah.

Ogen's innovative "Safe Shores" program aims to intervene at the early stages of debt, aiding individuals facing financial challenges due to poor decision-making. By offering a path towards long-term financial health, Safe Shores serves as a lifeline for those trapped in toxic debt. Our goal is to support 3,000 families and individuals over the next few years through our comprehensive financial education workshop series, equipping participants with practical tools and invaluable guidance.

Picturesforillustrationonly,somenameshavebeenchangedforprivacy.

Overcoming Obstacles: The Benaim's Journey to Homeownership

The Benaim's, a young family from Eilat, faced various challenges in realizing their dream of homeownership. Meirav is a school teacher and her husband Amitai, an entrepreneurial self-defense instructor had plans to build an extra-curricular training program in collaboration with local schools. Despite low income, lack of equity, financial obstacles, and the demands of raising a child with disabilities, they aspired to buy their rented apartment.

With Ogen's help, they explored the loan process and created a financial plan that included securing funding from a business investor and a backup plan for local supplementary employment options. However, an additional hurdle arose when Amitai's complex financial history threatened the contract. Through Ogen's dedicated efforts and support, the couple successfully obtained an Ogen-approved loan, allowing them to purchase their apartment and realize their dream of owning their own home.

Resilience Amidst Adversity: Penina's Path to Financial Freedom

Facing a painful separation due to her husband's infidelity and financial mismanagement, Penina was overwhelmed by debt and worried about her three young children's future. Despite her family's emotional support, they couldn't alleviate her financial burden. With mounting pressure from the Collection System Authority, she turned to Ogen for help.

Recognizing the urgency of her situation, we quickly developed a comprehensive financial plan to reduce Penina's debt from over 60,000 NIS to 40,000 NIS by utilizing her pension funds. This made her eligible for a 21,000 NIS loan through our Safe Shores program. With Ogen's assistance, she negotiated with other creditors and is now freed from further interest payments. If she continues following the plan, Penina will be debt-free within a year. This support has given her a fresh start, allowing her to rebuild her life and provide a stable future for her children.

Small Businesses

Financial resources are vital for business establishment and growth. However, many aspiring entrepreneurs, especially those in peripheral areas of Israel, struggle to access affordable capital due to insufficient cash flow, credit profiles, or equity for traditional bank loans. Consequently, they often turn to predatory and costly financing options, hindering their dreams.

Ogen fills this void by providing secure borrowing alternatives when banks are unwilling or unable to lend. Alongside financial support, Ogen offers professional coaching and mentoring to foster the growth and prosperity of small businesses. Through our lending initiatives, we actively support local businesses such as restaurants, grocery stores, clothing stores, tourist ventures, and early learning centers. This creates and sustains livelihoods and generates positive impact for owners, employees, and communities at large.

By integrating mentoring togther with loans, we have achieved significant improvements and anticipate positive outcomes. A recent evaluation of our mentoring program and community networking, Keren Shemesh, reveals that each shekel invested generates about 18 NIS in social and economic value, indicating an impressive SROI ratio of 1:18. These findings, alongside extensive assessments of our lending activity, will effectively guide our future strategic decisions to ensure greater societal impact is achieved.

Ogen's Impact this Year

$44MM $60,634 $815MM

Ogen's Transformative Loan Propels Kleins Bakery into Triple Expansion

Thanks to Ogen's 500,000 NIS loan, Kleins Bakery Inc., led by brothers Uri and Tzvi Yehuda Zilberman, experienced remarkable growth. Starting with a modest 120 sq m bakery in 2016, they expanded their reach to diverse clientele across Israel by 2022, achieving a 30% profit margin increase over three years. To accommodate the growing demand and transition to a small corporation, they needed to relocate and meet new regulatory standards, entailing costly investments.

Ogen's loan facilitated their move to a larger 500 sq m facility, acquisition of new equipment, and transformative renovations. They also established a storefront for walk-in customers, leading to improved operational efficiency and profitability. The investment resulted in the creation of 35 jobs and supports the founders and their families. Ogen's pivotal role in fueling the bakery's expansion has positioned Kleins Bakery for long-term financial success.

Shaping Destinies: Kinar Abu Issa's Journey to Success

Kinar Abu Issa, the proud owner of Glossier Moda, a women's designer clothing store in Yeruham, had a small business with three employees and a modest profit margin. But thanks to a 250,000 NIS game-changing loan she received from Ogen, Kinar was able to open a wholesale department, supplying merchandise to other stores. This strategic move not only established her as a key player in the market but also led to a substantial increase in revenue.

Committed to women's empowerment, Kinar is all-female staff exemplifies her dedication to her vision. With plans to double her income and expand her team to six employees in the coming months, she's creating more job opportunities and is positively impacting her community.

Ogen's pivotal loan is driving Kinar's business forward and helping her realize her dream of becoming a prominent businesswoman at an influential global company. In her own words, "The sky's the limit!"

What's New?

Ogen Credit Access Bonds

Ogen has successfully launched Credit Access Bond II, our second impact investment bond, raising 150M NIS ($43M) from 15 institutional and private Israeli investors. This ground-breaking, ESG rated bond signifies a significant stride towards responsible investment in Israel, attracting institutional markets to participate in impactful ventures.

Ogen's achievement signifies a historical milestone for non-profits in Israel, as it becomes the first to:

Create a bond of this size, offering market-rate returns while driving social impact.

• Attain an impressive Aa3 bond rating, validating the credibility and financial strength of the bond.

• Achieve listing as a private-traded product on the stock market, increasing accessibility and visibility for investors.

Notable investors include The National Lottery Investment Fund, the Hebrew University Employees Provident Fund, and other local institutional and private investors in Israel.

Support Israel's Dreamers. Sustain Israel's Future. Interest-Free Loans for Israel's Most Deserving Entrepreneurs.

Our newly launched initiative, SparkIL, has completed its first successful year of operation. As Israel's pioneering peer-to-peer lending platform, SparkIL enables individuals worldwide to directly support their chosen small business ventures in Israel. Beyond mere financial transactions, SparkIL loans cultivate personal connection, enabling lenders from the diaspora to establish meaningful relationships with the people of Israel. This initiative serves as a gateway to engage younger generations in philanthropy while strengthening their bond with Israel. In the past year, SparkIL has effectively utilized its innovative platform, connecting 500 new lenders to diverse borrower communities, supporting 61 small businesses, and disbursing a total of 3.2 million shekels.

This innovative initiative was launched in partnership with the Jewish Agency for Israel with support from the Max M. & Marjorie Fisher Foundation, UJA NY and the Kirsh Foundation.

"IwashonoredtosupportJamal throughlending.Strengthening the Druze community- who significantly contribute to Israel-isimportanttome.This was my first loan with SparkIL and it won't be my last."

~David

Sparking Success: Jamal's Story

Jamal Asad, a young laundromat owner from Kfar Beit Jaan, a Druze village in Israel's North, is among the small business owners benefitting from SparkIL. Instead of pursuing traditional paths like security or agriculture, Jamal chose to start his own business due to the increasing number of Airbnb accommodations in Israel's pastoral north. After successfully operating the laundromat for seven years, Jamal recognized the need for additional capital to meet the growing demands of his clientele. His business consultant introduced him to SparkIL, where he successfully secured the funds necessary to expand his business.

“Mybusinesscontinuestoexpandeveryyear.Iwantedtoservemorevacationers,butneededmoreequipment to meet the increasing demand. The washers and dryers I was using couldn't possibly serve my growing number of clients. This loan came right in time.”

~Jamal

Asad, loan recipient

R., Minnesota, lender

Non-Profits

Israel's non-profit sector plays a vital role in the social fabric of the country. NGOs contribute over 6% to Israel's GDP and employ 14% of the population. Over the last few decades, the Israeli government has recognized the important role of non-profits to bridge societal gaps and has therefore increased public funding allocations.

Despite this collaboration, many non-profits face marginalization from Israeli banks, limiting their borrowing capacity. Additionally, numerous non-profit CEOs lack financial and managerial expertise, hindering organizational success in today's rapidly evolving landscape.

Ogen's work with non-profits strengthens the sector through a platform for growth and impact. Our unique combination of lending and mentoring empowers leaders, benefiting countless beneficiaries across Israel. We provide crucial start-up capital to bridge government funding gaps, ensuring operational continuity. In the past year alone, we have supported over 166 new non-profits, totaling more than 500 organizations since 2020.

Our Impact this Year

$6.54MM $98,061 75 2,171 100,000+ $104MM

336 91 307

What's New?

Introducing Ogen's Non-Profit Booster Program

Israel's non-profit ecosystem is facing significant challenges, grappling with reduced government budgets and concerns about shifting donor priorities amid social-political tensions. To address these pressing issues, Ogen has launched a program dedicated to enhancing the resilience of non-profits through practical tools and expert guidance in the financial and managerial realms.

Leveraging expertise gained during the pandemic, we selected and mentored 13 CEOs and CFOs from the education, social welfare, health and immigration spheres dealing with issues like funding redirection and government budget cuts. Practical tools and guidance help these organizations overcome their challenges and adapt to changing complexities.

We are currently further developing the program to expand our reach and invite CEOs of non-profits facing similar challenges to explore the opportunities provided by Ogen's Booster Program.

"This is a valuable lifeline. The vast majority of the content was practical and enriching."

~Program participant

Essential Backing Enables Aid to Families Affected by Domestic Abuse

Ogen's financial assistance played a pivotal role in sustaining and supporting Magen L'Mishpacha during a critical time. When the organization faced a delay in payment from the Ministry of Welfare, Ogen stepped in to bridge the income gap and provided the necessary funding. This timely intervention allowed the organization to continue its vital activities, ensuring the continuity of their services and even the development of new initiatives.

By partnering with Ogen, Magen L'Mishpacha was able to overcome financial obstacles and maintain its growth trajectory, even when government support was not readily available. The loan provided by Ogen served as a lifeline, empowering the organization to continue fulfilling its mission of assisting families affected by domestic abuse and violence. The organization offers a range of services, including emergency shelter, crisis intervention, legal advocacy, counseling, and support groups.

Preserving the Wonder of the Dead Sea: Financing Fuels Restoration Initiative

Thanks to a 100,000 NIS loan from Ogen, the Dead Sea Revival Project was able to purchase a specially designed tour boat that is resistant to salt erosion, ensuring its durability and longevity even in the challenging environment of the Dead Sea. The boat marked a significant milestone in the organization's mission to raise awareness about Dead Sea preservation by providing the opportunity for visitors to enjoy its pristine natural beauty while learning about the importance of ecological preservation for future generations.

These exclusive guided boat tours enable visitors to discover locations only accessible by boat and are serving as a powerful tool to attract international visitors, and garner support for their cause.

How You Can Support Ogen

To amplify our mission's reach- ensuring financial inclusion for every citizen of Israel – we invite you to consider these compelling ways to elevate your contribution:

• Establish a Named Loan Fund

• Host a parlor meeting

• Provide a Risk Mitigation Cushion, enabling lending to businesses and non-profits while maintaining our commitment to investors

• Donate to our capital campaign

• Make an Impact Loan to Ogen

• Invest in our Bonds

For more information, please reach out to the Ogen Development Team: Development@ogen.org

Financial Report 2022

STATEMENT OF FINANCIAL POSITION

Thank You to Our Valued Supporters

$1,000,000+

Albert & Florence Dreisinger / Anonymous / Edmond J. Safra Foundation* / Keren Eloul Fund / Legacy Heritage Fund / Moskowitz Funds / Trudy & Bob Gottesman Fund

$500,000 - $1,000,00

Am Echad Atlanta for Economic Development Fund / Beren Sea Foundation Fund / BGS Fund / EJS Foundation Fund Housing Loan Fund / Harry & Jeanette Weinberg Foundation Fund / IVN Fund / Jacques & Monique

Roos Memorial Loan Fund / Moskowitz Funds / Oscar & Regina Gruss Fund / Rashi Fund / Sabbah Fund / Schusterman Loan Fund

$100,000 - $500,000

A. Bader Trust Fund / Aaron & Sarah Garfunkel Memorial Fund / Abraham & Sonia Rochlin Foundation Fund

/ Abraham Memorial Fund / Arie & Eva Halpern Family Foundation Fund / Aron Abecassis Family Foundation

Funds / Azrieli Foundation / Bank Hapoalim* / Becker Scholarships for Hebrew University / Berman Family Foundation Fund / Carob Tree Fund / Claire & Louis Sand Memorial Fund / David & Inez Myers Foundation

Fund / David Halperne Memorial Fund / Davis Family Charitable Foundation Fund / DMCT Fund / Dr. Marvin Mazza Memorial Fund / Edward Adler Z"l Fund / Eisenberg - Eloul Fund / Ezrah Fund / Felzen Family Fund / Florence Greenwald Dreisinger Fund / Granoff Family Funds / Grossberg Abrams Foundation Fund / Gyryt Loan Fund / Harry & Eleanor A. Schick Interest Free Loan Fund / Irving Montak Memorial Fund / Israeli Children

Solidarity Fund / J.B.& Margaret Blaugrund Fund / Jaffe Fund - Giving Wisely Fund / Jaffe Grandchildren's Continuity Fund / Jusaca Trust Fund / Keren Simcha Letzedakah Fund / Larry Roth Memorial Fund / Lasko

Family Foundation Fund / Louis J. & Miriam Novick Memorial Fund / Lucius N. Littauer Foundation Fund / Marc Rich Foundation Funds/ Marcus-Schwartz Israel Fund / Max & Elli Podolski Fund / Max Barney Foundation

Interest Free Loan Fund / Michael Pushett Entrepreneurs Fund / Nathan & Helen Kohler Foundation Fund / Olive Leaf Fund / Rabbi Simon Dolgin Memorial Fund / Rav Chai Fund / Russell Berrie Foundation* / Sam & Ruth Shapiro Memorial Fund / Samuel Rutta Fund / Sara Rivka Bat Devorah and Mordechai Yehuda Memorial

Fund /Slomo & Silvian Foundation Fund / Susan Ruth Fastow Memorial Fund / The Lifeline Fund / The Mazel Fund / Tillie & Laurie Nidditch Foundation Fund / Velia O. Shibuk Memorial Fund / Yaakov's Light Fund / Yehuda

Katzin & Yissochar Dov Rotter Memorial Fund / Zahavi Large Families Fund

$50,000 - $100,000

Abe & Clara Eisen Memorial Fund / Abraham & Sonia Rochlin / Acharai Loan Fund for People with Special Needs / Achim Labayit Fund / Ahavat Chessed Fund / Alice & Tom Tisch Fund / Alvin S. Jarmel & Dr. Harry & Ruth

Jarmulowsky Fund / Arthur Dollond Memorial Fund / Beracha Foundation Fund / Bertalan & Maria Siegelstein

Memorial Fund / Cheryl Saban Self-Worth Foundation Small Business Loan Fund for Single Mothers /Citron Family Fund / Dent-Craps Charitable Trust Fund / Doctor Edward Shaoul Memorial Fund / Dorot Foundation

Fund / Dorothy & Helmer Weiner Memorial Fund / Dr. Salomon & Esther Stemmer Fund / Drucker Family

Fund / Esther Taub Memorial Fund / Everett Fund / Freda Borger Memorial Fund / Gerald & Helen Feldstern

Fund / Gimprich Family Foundation Fund / Gorlin Family Foundation Fund / GP Fund / Groveman & Ancona

Fund / Hadassah Katz Memorial Fund / Harry Kramer Memorial Fund / Henry & Ada Felzen Family Fund / Homer Simpson Fund / Ilana & Yair Gat Memorial Fund /Irving & Helen Betz Foundation Fund / Jack & Minda

Jaffe Memorial Fund / Jack & Ruby Levkoff Memorial Fund/ KLK Fund / Jewish Federation & Family Services of Orange County, CA Fund / Jewish Federation of Greater Middlesex County Small Business Loan Fund / Joe & Margit Hoffman Memorial Fund / Joshua Family Foundation Fund / Joshua H. Resnick Memorial Fund / Karish Fund / Kathryn Ames Foundation Fund / Kleinberg Family Foundation Fund / Langerman & Pinczower

Fund / Leo & Vera Plotkin Loan Fund / Levi Lassen Foundation Fund / Lipsett Family Lee Javitch Memorial Fund / Milton & Helen Monderer Foundation Funds / Moshe Rosengart z"l Charitable Trust/ Ploss Family Fund / Pri Etz Hadar Fund / Raychel Solomon Memorial Fund / Raymond & Betty Kaplan Memorial Fund / Robert

(Yaakov) Weisz Memorial Fund / Samson David Gruber Memorial Fund / Sara & Binyamin Feller Memorial Fund / Sara & Jacob Einhorn Memorial Fund / Schoenbaum Family Foundation Fund / Shirat Shlomo Fund / Shirley Saper Memorial Fund / Soberzan Family Fund / Stephen & Faith Cohen 40th Wedding Anniversary Fund /Sydney E. Franklin Fund / Talmi Shafer Memorial Fund / Terumah Philanthropic Fund / Teshuva, Tefila

U'Tzdaka Fund / Varon Family Memorial Fund / Vivienne & Sam Cohen and Ben & Lisa Samuel Fund / William

P. & Rachel Wolfe Fund / Winter Family Fund / Yehuda Nattan Yudkowsky Memorial Fund / Yitzhak Ben Haim, Tzvi Schwartz & Nissim Ben Moshe Yifrach Memorial Fund / Zarrow Family Foundation Fund / Zev & Marcia Gelbendorf Memorial Fund / Ziv Tzedaka Fund

Up to $50,000

A2B Fund / Aaron Goodman Memorial Fund / Abe Wouk Foundation Fund / Abraham & Claire Adler Memorial Fund / Abrams Ramat Gan Foundation Fund / Adeline & Frank Loewenberg Fund / Afula Gilboa Loan Fund / Alan Dworkin Trust Fund / Alexander & Betty Mohrer and Sheldon & Irene Steinberg Fund / Alvin & Zelda Morrison Fund /Anna Abramowski Fund / Anne & Jack Wolff-Myne and Boris Garr Memorial Fund / Arel Segal

Fund /Arie & Manya Givoni Memorial Fund / Arkin Holdings Interest Free Loan Fund /Arlene & Arnold Goldstein

Family Foundation Fund / Arthur (Yitzchak) Jaffe Memorial Fund / Atran Foundation Fund / Avital Dym

Memorial Fund / Avraham ben Shlomo Beim and Mordechai ben Chana Shironi Fund / Avraham Ventura

Memorial Fund / Ayelet Eliashar Fund / Azeroual Family Fund / Barbara & Daniel Drench / Bart Simpson Fund

/ Baruch F. Munk & Akiva E. Simon / BC Fund / Beit Shemesh Fund / Belda & Marcel Lindenbaum Memorial Fund / Belle Kirschenbaum Fund / Ben & Evelyn Lipshitz Memorial Fund / Benjamin & Chana Hoffman Memorial Fund / Benjamin and Rebecca Migdal Fund / Berjulie & Hubert Press Memorial Fund / Bert E. Rosenstock Fund

/ Bessiah Gloskin Halperne Memorial Fund / Bila Bat Gedaliahu & Yecheskel Ben Leib Fund / Bill Borowski

Memorial Fund / Bloomberg Family Fund / Bloomington Fund / Bornblum Foundation Fund / Boyars Family Fund / Bracha Bat Binyamin Fund / Brookenthal-Feldman-Lee Fund / Brooklyn Bressman Fund / Bruce & Bobby Nemer Fund / C.M. & Raquel H. Newman Trust Fund / Carl Marks Foundation Fund / Carol Alexander

Novack Fund / Celest Rene & Blanche Sellie Bueno De Mesquita Z"l Fund / Chaim & Hanna Schnerb Memorial

Fund / Chaim Sorin Memorial Fund / Chana & Chaim Solomon Fund / Chana Halperne Sorin Memorial Fund / Chana Razel Bat Aharon Vsarah Memorial Fund / Charles & Beatrice Susman Loan Fund / Charles Feuer & David

Simons Fund / Charles Schusterman Memorial Fund / Chaya Sara and Yaakov Yosef Kurtz and Chana and Uri

Auerbach Fund / Chen & Yona Eini Fund / CO-DA-DJ Fund / Cohen (Cardiff) Fund / Comeback Fund One / Corman

Family Fund / CY Gluck Memorial Fund / Cynthia & Sydney and Jack Goodman Memorial Fund / Cyril Stein

Memorial Fund / Dafi, Max & Alex Singer Loan Fund / Dahlia & Avinoam Gottlieb Fund / Daniel Rubin Memorial

Fund / David & Barbara B. Hirschhorn Foundation Fund / David Avraham Crayk Z"l Fund / David Gottlieb

Memorial Fund / Davidow Charitable Fund / Davidson Family Fund / Davis Foundation Fund / Della Worms

Fund / Diane & Norman Linzer Family Fund / Diane P. & Guilford Glazer Fund / Dora & David Solomon Memorial

Fund / Dorot Chevrat Tzedaka 2003 / Dorot Foundation Fund / Dr. Ely S. Simon Memorable Fund / Dr. Ephraim

Maron Memorial Fund / Dr. Mordechai Yaakov Knoll Memorial Fund / Dr. Robert Jack & Brenda Clair Poller Fund

/ Dr. Ruth Perlman Klebaner Memorial Fund / Dr. William Gold Memorial Fund / Drucker Family Fund / Dubrow

Family Fund / East Jerusalem Small Business Loan Fund / Edie Ram Memorial Fund / Edith Fierst Fund / Edward Cohen Birthday & Retirement Fund / Elaine Gorbach Levine Foundation Tzedakah Fund / Eli J. Band

Memorial Fund / Eli Rosner & Rachel Rosner Rosenberg Memorial Fund / Elliot & Roslyn Jaffe Family Foundation

Fund /Ephraim & Rachel Greenfield Fund / Eric Anthony Watts (Brown '95) Fund / Esther & Albert Goldstein

Memorial Fund / Esther Covo A"H Fund / Esther & Myer Rosenberg Fund / Ethiopian Students Fund / Etrog 2

Fund / Evelyn Furman Rosen Memorial Fund / Evelyn Topper Centenary Fund /Exilarch's Foundation Fund / Ezra & Linda Attar Fund / Felzen Family Fund / Felzen Family Goodwill Fund / Filler - Feygenson Family Fund

/ Florence & Joseph Appleman Charitable Fund / Fox Family Foundation Fund / France Israel Foundation Fund

/ Fred Simon Worms O.B.E. Memorial Fund / Freda Rosenfeld & Hillel Wallick Fund / Freida Mirvis Memorial

Fund / George Arnold Memorial Fund / Gershon & Harry Zwick Memorial Fund / Gil Topman Memorial Fund

/ Goldman Foundation Fund / Good People Fund / Goodwill – Ogen Fund / Gordin - Glass Fund / Greenberg

Fund / H. Friedmann Fund / Hannah & Phillip Blashki Memorial Fund / Hannah S. & Samuel A. Cohn Memorial

Fund / Harav Avraham & Sarah Sopher Fund / Harav Jerry Robbins Memorial Fund / Harold & Betty F. Neustadter

Fund / Harold & Roslyn Stein Memorial Fund / Harold A. Schwartz Foundation Fund / Harold Grinspoon

Foundation Fund / Harold I. Josey Memorial Fund / Hattie & George J. Golden Fund / Hawtof Suskin Families

Fund / Heinish Foundation Fund / Helga Strahovnik & Shimon Zaricky Memorial Fund / Herbert J. & E. Solomon

Foundation Fund / Herta Weil Memorial Fund / Hilda & Samuel Marks Memorial Fund / Hilde & Jochanan Sauer

Memorial Fund / Hillel Leaving the Orthodox World Fund / Hinda Leah Memorial Fund / Hordes Family Fund

/ Ian Karten Charitable Trust Fund / Ibn Art Memorial Fund / ID believe Fund / IDF - Martin & Muriel Ziff Family

Fund / NISe & Fred Stamm Memorial Fund / Ira Daitzman Memorial Fund / Ira Zackon Fund / Irving Dworman

/ Irving Pfeffer Memorial Fund / Isaac Djemal Memorial Fund / Isabelle Harris Memorial Fund / ISEF Student

Loans / Israel (Issie) Akerman Memorial Fund / Israel Meir Kroizer A"H Fund / Ivan Ciment Charitable Foundation

Fund / Jacob & Sara (Felzenstejn) Gutfrajnd Fund / James & Merryl H. Tisch Fund / Jerry & Judy Klinger Fund

/ Jewish Federation of Fort Worth Fund / JJ Greenberg Memorial Fund / Joe & Wilma Horowitz Memorial Fund

/ Jonathan Grin Fund / Josef Franklin Fund / Joseph & Beverley Glickman Fund / Joseph & Rachel Luchfeld

Memorial Fund / Josef and Shelley Paradis Fund / Joseph Neustein Fund / Joseph Roumani & Elise Tammam

Roumani Fund / Josephine Lee Memorial Fund / Joshua Aaron Cohen Solal Fund / Joshua Mark Lipetz Memorial

Fund / Judy Adler Memorial Fund / Jusaca Trust Fund / K.A. Zankel Foundation Fund / K’Tamar Yifrach Fund

/ Kanfe Yonah – Thelma Gorin Memorial Fund / Karsch Fund / Kavod Tzedaka Collective Fund / Keren Arie & Sara Fund /Keren Gothold Fund / Keren Michel Radzinski Fund / Keren Or Fund / Keren Sacta Rashi Amutot Fund / Klitsner Family Fund / Klitsner-Wolff-Shapiro Fund / Kriel Family Loan Fund / Large Families Fund / Larry Rochlin Fund / Lasry Family Fund/ Leg Up Fund / Leila Rendel Fund / Leo Grahame Memorial Fund / Leopold & Zdenka Herzog and Margarete Tedesdo Fund / Lillian Rebecca Silverstein Loan Fund / Linda Laing Memorial Fund / Lorraine Gastwirt Memorial Fund / Louis & Frances Benjamin Memorial Loan Fund / Louis Maisel Memorial Fund / Luria Family Foundation Fund / Madeleine & Sydney Baigel Memorial Fund / Madlyn & Lou Barnett Living Trust Fund / Magen David Sephardic Congregation Fund / Ezra Marcos* / Marian & Robert

S. Brill Memorial Fund / Marilyn Lowenstein Memorial Fund / Mashe & Dorothy Kodish Memorial Fund / Mauricio Grin Fund / Maxine Blendis Family & Friends Fund / Maya Goura* / Melody & Steven Curtis Family Loan Fund

/ MEM Philanthropic Fund / Menachem Mendel Fogel Memorial Fund / Menashe & Miriam Levy Memorial Fund

/ Michael & Minna Kreisel Torah Gemilut Chesed Fund /Michael Bronzite Fund / Michael Kesztenbaum Loan Fund / Milton & Diana Davis Phil Fund / Mirel Emanuel & Adolf Gleicher Memorial Fund / Miriam & Binny Shalev

Fund / Miriam Zak (née Eisenberg) Jerusalem Memorial Fund / Molly & Morris Friedman and Leon & Dorothy Sacks Fund / Mordechai Nechemia Dickstein Fund / Morris & Beverly Baker Foundation Fund / Morris A. Zipkin

Memorial Fund / Moses Hess Memorial Fund / Moshe Wechsler Fund / Moskovits Hillel & Avigail Fund / Murray

Gold Memorial Fund / Naama Nadler (Samuel) Memorial Fund /Nachshon Memorial Fund / Nahlat Shlomo

Fund / Nancy & Jeffrey Hallis Philanthropic Fund / Naomi Banner Memorial Fund / Naomi Ozeri Memorial

Fund / Nash Family Foundation Fund /Nash Family Foundation Fund / Neksis Fund / Neville Family Fund / Newell Foundation Fund / Newman Family Fund / Novetsky Ateret Zekenim Bnei Banim Fund / Now Israel

Fund for Sderot and Otef Aza / Oma Bep Zion, Oma Rachel Sachs and Oma Marcelle Zion Fund / Orly & Guy

Fund /Oshri Fund / P.E.F. Business Loans Funds /Pamela Herbst Fund / Parkes Family Loan Fund / Patricia Goldberg Memorial Fund / Paul & Sandra Wolff Memorial Fund / Paulette &Rudolph Haviv Perach Memorial

Fund / Pauline & Abraham Wilner Memorial Fund / Lionel Perez* / Peter & Naomi Neustadter Fund / Peter L.

Singer Fund / Phyllis & Ivan Shaw Memorial Fund / Pinchas Cohen Memorial Fund / Pinchas Hai Elbag Memorial

Fund / Pincus Paul Charitable Trust Fund / Price Family Loan Fund / Progress Charitable Fund in Memory of Quentin Nisse & David Zinkin Fund / Rabbi Esther Adler & Dr. Robert Lebowitz Fund / Rabbi William Zev & Eda

Bess Novick Memorial Fund / Ralph Goldman - Arnie Pins Interest Free Loan Fund / Ramban Synagogue Fund / Rav Asher Dov & Miriam Kahn Memorial Fund / Rivka & Eliezer Jaffe Loan Fund / Rivka & Lloyd P. Gartner

Fund / Rivka Yankanofsky Memorial Fund / Robert (Reuven) Atkin Memorial Fund / Robert R. Frankel & Simon, Ruth & Sheldon Bass Memorial Fund / Roberto Strauss Fund / Rose Garfin Memorial Fund / Rose Levin Memorial Fund / Rosenthal Fund / Rosman Fund / Rubinstein, Koschitzky, and Gitler Gush Katif Fund / Ruderman Loan

Fund for Businesses of Disabled People / Ruth & Seymour Rowen Loan Fund / Ruth Bat Natan & Moshe Velvel

Ben Shmuel Memorial Fund / Ruth Borchard Fund /Ruth Goldberg Memorial Fund / Ruth Maron Memorial

Fund / Ruth Rand Fund / Ryan Abraham Khaldar Memorial Fund / Saba Chaim Nachman Shitzkovski Memorial Fund / Sam & Bella Sebba Charitable Trust / Sam and Ruth Shanker Fund / Samis Foundation Fund / Samuel Cohen Solal Foundation Fund / Samuel Rosenberg Memorial Loan Fund / Sara & Israel Pollack and Elaine & Emanuel Wollman Fund / Sarah & Moshe Feldman Memorial Fund / Sarah Saar Memorial Fund / Schusterman Foundation Israel Fund / Schwartz Fund / Scott Jeffery Friedman Memorial Fund / Searle & Cynthia Selmon

Fund / Shaarei Rahel Fund / Shani & Salvo Bahar Fund / Shawna Goodman & Todd Sone Family Foundation Fund / Sheva Shayndell (Sondra) Shimoff (Israel) Family Fund / Shira Gordon & Phil Shaw Fund / Shirley Kline Chai Fund / Shoresh Charitable Trust Loan Fund / Shoshana S. Cardin Fund / Sidney & Elizabeth Corob Fund / Sidney Zelig Harris Fund / Siegel/Ringler Family Fund / Simon Colin Business Fund / Smile Fund in Memory of Bill & Edith Mantinband / SMS Fund / Sobell Foundation Fund / Social Venture Fund / Sol Pomerantz Memorial Fund / Sophie & Isaac Ben-Laish Fund / Soref Foundation Fund /Speyer-Friedman Fund / Strassfeld Soul Support Foundation Fund / Suzanne & Michael Hochstein Family Fund / Sweetwood Solidarity Fund / Sybil & Gerald and Percy Kramer Fund / Tay Family Fund / Tchiya and Yakov Rand & Hannah and Eliyahu Bornstein

Memorial Fund / Tel Aviv Artists’ Fund / Temple Israel - Great Neck, NY Fund / Terry & Joseph Israel Fund / The Cooper Family Fund / The David Fund / Thomas H. Stanton & Martha J. Zaslow Fund / Tikun Olam Fund

/ Tikvah Fund / Tikvat Israel Synagogue Fund / Tilis Strassburger Fund/ Tovah B. & William C. Rosenfeld

Memorial Fund / Tugendhaft-Taube Memorial Fund / Tziporah Hadassah Kelman Fund / Tzuk Eitan Fund / Tzvi Harold Gorin Memorial Fund / UJA -Federation of New York Emergency Relief Fund / University Tuition

Tzedakah Fund / Victoria & Rahamim Natan Fund / W Family Fund / Weiner Family Fund / William Fern

Philanthropic Fund / Wurzbourg Family Memorial Fund / Ya'akov and Leah Fund / Yaakov Halperne Memorial Fund / Yad Yehiel Fund / Yagel Yacov Yismach Yisrael Fund / Yanky Hammer Fund / Young Philanthropist

Committee Fund / Yuval Levy ben Menahem v’Shoshana Fund / Zella & Jack Butler Fund / Zvi & Yehudit Eshet Memorial Fund

*Funder to Keren Shemesh

Thank You to Our Impact Investors

Amit Kedem

Andrew Goldman

Anonymous (Multiple)

Arie & Halperin Family Foundation

Assaf Harlap

Atlantic Realty Development Corp.

Aviv Foundation

Bank Hapoalim

Bank Leumi Employees Provident Fund

Bernie Groveman

Boaz Raam

Bob & Trudy Gottesman

Carlo & Debbie Bachrach

Daniel Och

Edmond de Rothschild Foundation

Freddy Samama

Gilad Pension Fund

Google

Ha'Atid - Hebrew University Employee Pension Fund

Hamahar Provident Fund

Hanoch Barkat

Jewish Agency for Israel Jewish Communal Fund

Jewish Community Federation and Endowment Fund

Jewish Community Foundation San Diego

JEWISHcolorado

Joel & Ulrika Citron

Jonathan Koschitsky

Joseph Gitler

Josh & Marjorie Harris

Keshet: DAF-IL

Maor Foundation

Max and Mariorie Fisher Foundation

Michael and Karine Bloch

Michael Werner

Michael Tabacinic

Mifal HaPayis (The National Lottery of Israel)

Migdal

Morris & Lillian Tabacinic

Moshe Lasry

Nicole & Raanan Agus

Orit and Joe Straus

P.E.F. Israel Endowment Funds

Patricia and Gary Kain

Debra Pell

Rashi Foundation

Seth Merrin

Shahaf Foundation

Shuki Erlich

Simon Azoulay

Stanley & Martine Fleishmann

The Diane and Guilford Glazer Philanthropies

The Fooksman Family Foundation

The Harry and Jeanette Weinberg Foundation

The Jerusalem Foundation

The Kirsh Family Foundation

The Rosalinde and Arthur Gilbert Foundation

The Russell Berrie Foundation

The William Davidson Foundation

UJA Federation of New York

UJIA

Will & Lindsay Bressman

Yoel Cheshin

Zvi & Ofra Meitar Family Fund

Marcy Gringlas & Joel Greenberg Seed the Dream Foundation

Board of Directors

OGEN- FREE INTEREST LOAN FUND

Founder

Professor Eliezer Jaffe z”l

Board Members

Ofir Ozeri, Chairman

Peggy Brill

Yair Cohen

Samuel Cohen-Solal

Ohad Eini

Basha'er Fahoum-Jayoussi

Zvi Feine

Racheli Greenwald

Uri Jaffe

Chaim Neuman

David Ram

Josiah Rotenberg

Yishai Tachover

Audit Committee

Uriel Dagan

Michael Leon

Eitan Stein

Emeritus Board Members

Edward Cohen

Yona Cohen

OGEN – SOCIAL LOAN FUND & KEREN SHEMESH

Ofir Ozeri, Chairman

Eli Barkat

Linda Ben Shoshan (Ogen Only)

Yoav Chelouche

Yair Cohen

Ariel Greenberg (KSH Only)

Yael Lipman

Daniel Recanati

Tal Shlasky

Boaz Raam

Dalia Tal

Audit Committee – Ogen SLF & KSH

Prof. Dan Weiss

Ron Elroy

OGEN – SOCIAL IMPACT BONDS

Eylon Penchas, Chairman

AMERICAN FRIENDS OF OGEN

Ari Jaffe, President

Misha Galperin

Bob Gottesman

Ben Jaffe

Michael Lustig

Ruth Salzman

Beth Sirull

SparkIL

Amira Ahronoviz

Diana Anderson

Sagi Balasha

Tamar Bar-Noy Gotlin

Doug Bitonti Stewart

Yehuda Feinberg

Ira Friedman

SparkIL Audit Committee

Miri Hartman

Michael Gubaneev

Senior Management

Sagi Balasha CEO

Moshe Daniel Deputy CEO

Eldan Kaye VP, Development & Partnerships

Yifat David VP, Marketing

Liav Cheshla CFO

Joel Copeland Director, Families & Individuals Division

Yuval Beck

Director, Business Division

Simon Cadranel Director, Non-Profits Division

Meira Schwartz VP, Business Division

Khaled Hassan Director, Economic Development Arab Society

Avi Bar Zakai CTO

Na’ama Ore

CEO, SparkIL

Dina Ben-David HR Manager

Elad Lubitch

Company Secretary & Senior Advisor to the CEO

Hila Stern

Executive Director, American Friends of Ogen

Eyal Gessenbauer

Business Development Manager

Donation Instructions

For Israeli tax-deductible donations

Credit card donation: www.ogen.org/en

Checks: Ogen – Free Loan Fund, POB 10424, Jerusalem

Amuta: 58-0173557

For US tax-deductible donations

Credit card donation: www.ogen.org/en

Checks: American Friends of Ogen, 2330 Milton Road, University Heights, Ohio, USA 44118

IRS tax exemption number: 13-3691494

For UK tax-deductible donations:

Credit card donation: www.ogen.org/en

Checks: British Friends of Ogen, c/o Kenneth Keller, 25 Lodge Avenue, Borehamwood, Elstree, Herts

WD6 3NA, England

Charity Commission number: 1009568

For Canadian tax-deductible donations:

Credit card donation: www.ogen.org/en

Checks: Canadian Friends of Ogen, 17 Park Hill Road, Toronto, Ontario, M6C 3M8, Canada

Charity registration number: 1036714-09

For bank transfer details or questions, contact Ogen's Development Department:

From Israel: 02-530-0787

From the US: 212-203-0055

development@ogen.org

www.ogen.org

Follow us on Facebook: www.facebook.com/OgenIsraelFund

Ogen is a nonprofit social-finance leader committed to enhancing financial well-being, inclusion, and opportunity for the people of Israel. Our mission involves extending credit and mentorship to low-income families, individuals, small businesses, and nonprofits, cultivating a stronger economic future for all.