30 YEARS

OF LIFE-CHANGING LOANS

A n n u a l R e p o r t

2 0 1 9 - 2 0 2 0

THE O GEN GROUPToday, Ogen is a group of five non-profit organizations dedicated to increasing financial opportunity and fairness in Israel, by providing both affordable, life-changing loans and financial mentoring to low and middle-income Israelis, small businesses and not-for-profit organizations.

In 2021, we anticipate Ogen will become Israel’s first not-for-profit social bank.

O GENSaving Livel ihoods. Transforming Lives.

The devastating outbreak of the coronavirus pandemic makes this year’s Annual Report unlike any in Ogen’s 30-year history. What started as a highly infectious health emergency soon sparked a global economic crisis that has disrupted all of our lives, everywhere.

In Israel, the economic fallout catapulted more than one million people into freefall and brought the unemployment rate to an unprecedented high of 27.4%. While the banks were unable or unwilling to help those most affected, and government relief efforts proved insufficient, Ogen refused to turn people away in their hour of need.

With thanks to our donors, Ogen has lent more than $25 million since the beginning of the crisis, tripling our regular lending.

Over the past six months, our team has handled more than 10,000 loan enquiries. We have developed fast-track loans with special terms, waived the need for guarantors (enabled by government and donor guarantees), launched a quick, online loan process and added new levels of supplementary financial mentoring through Ogen La’Bayit and Keren-Shemesh.

As Ogen’s founder Eliezer Jaffe (z”l) envisioned, less fortunate Israelis will always know they have somewhere to turn, even at times of the most acute financial difficulty.

Led by an anonymous $30 million donation from an Israeli funder, our donors have contributed more than $40 million this year, empowering Ogen to help so significantly. As the financial effects of the crisis continue, it is more important than ever for Ogen to increase its resources and provide a wide financial safety net that can save livelihoods, transform lives and help jumpstart Israel’s economy.

This report tells highlights the deep and ongoing impact your support is helping make possible.

SOCIAL LENDING

Financial coaching for low-income families and first-time homebuyers

Mentoring small business owners in the periphery and non-profit leaders

GUIDANCE & MENTORING

Loans for people facing tough economic challenges

Loans for small businesses and non-profits

Platform for P2P loans to small businesses

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LENDING GROW TH DURING COVID -19 +300% grow th from March to July 2020

O GEN AT A GLANCE

/ $110 million under management

/ $360 million lent

/ More than 65,000 loans made

/ Interest-free lending fund of $60 million (Ogen - Free Loan Fund)

/ $50 million low-interest lending fund (Ogen - Social Loan Fund)

/ 800 volunteer small business mentors

/ Financial coaching for 1,000 families per year

/ 2% operating costs

/ Currently managing 12,000 loans

/ 1 non-profit bank in formation

Personal Ogen La'Bayit Small Businesses Non-Profits

OGEN GROUP CUMULATIVE LENDING, 2020 (MILLIONS USD)

OGEN GROUP MONTHLY LENDING, 2020 (MILLIONS USD)

25

20

15

10

0

8

7

6

5

4

3

2

1

0Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20

1.51.4

1.7

3.7 3.4

4.9

7.1

Personal Ogen La'Bayit Small Businesses Non-Profits

16.7

11.7

1.52.9

4.6 8.3

04 05

Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20

23.7

Government advises against non-essential travel to China

26 Jan

31 Mar

7 Mar 10 Mar

11 Apr 13 Apr 26 Apr

11 Mar 14 Mar 19 Mar 25 Mar

21 Feb 9 Mar

1 Apr 12 Apr

Jul 10 Jul 28 Aug 09 Aug 12

24 Apr 7 May 26 May 29 May Jun 13

11 Mar 12 Mar 17 Mar 20 Mar 30 Mar

First confirmed case in Israel

Ogen launches emergency small business loans

14-day quarantine period for arrivals to Israel

Public gatherings limited to 2,000 people

Government announces first economic rescue package

Gatherings limited to 100 people

Immediate closure of schools and universities

Gatherings limited to 10 people

100 new cases per day

National state of emergency declared

First death recorded

Movement limited to within 100m of home

100 new cases per day

Ogen and Jewish Agency launch emergency rescue fund for non-profits

25% of non-profits shuttered; 50% of staff on unpaid leave

Death toll passes 100

Face masks become mandatory

First public protests over insufficient economic support

Stores allowed to reopen

Unemployment rate hits 27.4%

Malls and markets reopen

New daily cases down to 7

Restaurants reopen under tight restrictions

Active cases fall below 2,000

Second wave begins as news daily case rise above 100 again

Ogen waives guarantors for personal loans

Death toll passes 300

Daily infection rate crosses 1,000 for the first time

Strict social distancing measures re-introduced

Government updates aid package for self-employed workers and small businesses

Active cases peak at 36,378

Record high of 2,308 new daily cases confirmed

Ministry of Finance awards Ogen State Guarantees

Death toll passes 600

Bank of Israel ranks Israel lowest globally for economic aid provided to citizens

17 deaths, highest one-day figure to date

Jul 6 Jul 27 Aug 09 Aug 11

17 May 27 May Jun 1 Jul 1

COVID -19 in Israel The evolution of a crisis

06 07

Mindel is a 23 year old ultra-Orthodox woman who lives in Bnei Brak with her husband and two small children.

Undeterred by the financial challenges that the coronavirus has placed on her young family, Mindel is determined to invest in her personal growth. She is currently enrolled in a programming course to become a Java Full Stack Developer. Thanks to her Ogen loan of ILS 25,000 this year, she can pay tuition and cover for her family's living expenses while she invests in her career.

O GEN - FREE LOAN FUND The coronavirus pandemic has thrown over one million Israelis into desperate financial situations. Put on furlough, fired or with slashed incomes, many are unable to access affordable credit from commercial banks and received insufficient government stipends. They need immediate loans just to get through this difficult period intact.

Ogen’s loans are now more accessible than ever. Borrowers can take a loan online via a quick and simple process. Ogen also waived the need for guarantors in the wake of COVID-19 since our borrowers are unable to find co-signers in the current economic reality. Donors are helping shoulder the increased risk of default at this time.

Alongside loans to ease the effects of the sudden shock of COVID-19, Ogen – Free Loan Fund places a focus on loans that help people learn a trade, gain an education, buy a first home, or recover from long-term financial difficulties.

Ogen’s life-saving loans are funded through over 550 “Named Loan Funds”. Funds start from $10,000 in cumulative donations, with opportunities to add to the fund at any time. The demand for immediate credit continues to grow. With additional support, Ogen can meet this demand and provide renewed hope and opportunity to Israel's people.

THE PEOPLE YOU HELPPeli moved to Israel from Azerbaijan with his family five years ago. Peli works as a cleaner for one of Israel’s largest supermarket chains, but reduced hours during the shutdown saw his wages cut by 30%. With the sudden drop in income, Peli struggled just to cover his basic, modest living expenses.

While Peli dreams of opening his own business, his primary focus for now has been to resume full-time work and keep providing for his parents and four sisters.

Peli received a loan of ILS 20,000, to help him through this difficult period.

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THE PEOPLE YOU HELP

The Tahel Crisis Center for Religious Women and Children counteracts abuse and domestic violence against women and children in the religious and ultra-Orthodox communities. Tragically Israel experienced a 40% rise in domestic violence cases during the COVID-19 shutdown, leading to a doubling in calls for help to Tahel.

At the exact moment when the organization was most needed however, the effects of COVID-19 had put Tahel into sudden financial crisis. The organization relies heavily on overseas philanthropy, which dried up temporarily due to turmoil in the markets and the cancellation of planned fundraising events in the US, as well as government funding through Israel’s Ministry of Welfare, which was held up due to budget constraints and bureaucracy.

With your support, Ogen made a bridge loan of ILS 200,000 ($58,000) to Tahel, enabling the organization to keep providing its vital services until its pledged government funding comes through.

THE PEOPLE YOU HELPEvyatar is the owner and sole employee of “Kos Shel Bracha”, a popular neighborhood wine store on a quiet street in suburban Jerusalem. Married to Shana, a graphic designer, the couple are constantly balancing the demands of both being self-employed while together raising their four young children.

Despite Evyatar’s best efforts to sell online and continue serving his clients by personally delivering their orders on his moped, the store saw a 50% loss in income when the government’s quarantine measures came into effect. With rent and suppliers to pay, Evyatar’s business was in crisis.

Evyatar negotiated with his bank for over a month to try and obtain an emergency loan, eventually receiving an offer at 11%. When he discovered Ogen, Evyatar was quickly approved and took a loan of ILS 100,000 to stabilize his business.

O GEN - SO CIAL LOAN FUNDOgen - Social Loan Fund, licensed and regulated by Israel’s Capital Markets Authority and now secured by Israeli government loan guarantees, rescues small businesses and non-profits in Israel by providing a vital low-interest credit lifeline. Launched in January 2020, the Social Loan Fund is the first stage of Israel’s first not-for-profit social bank.

In the wake of the COVID-19 crisis, small businesses and non-profits are collapsing. While commercial interest rates have soared, Ogen – Social Loan Fund has been at the forefront of saving these vital organs of Israel’s economy and society.

With $50 million in assets to date, 300 businesses and 75 non-profits supported, the Fund’s targeted goal is to raise $150 million by 2022 to continue providing financial oxygen for this critical sector.

/ More than $15 million loaned / Loan size on average: $60,000

AMONG THE NON-PROFITS YOU'VE HELPEDIn partnership with The Jewish Agency for Israel

Did you know?There are two ways to help support small businesses and non-profits. You can donate or make an “Impact Loan” of $1 million or more. Through this route, you’ll be repaid after five years with 1% annual interest.

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O GEN IN THE NEWS

O GEN LA’BAYIT Ogen La'Bayit is the only organization set up to tackle the single biggest financial challenge in Israel for the past ten years: Israel’s housing crisis. Ogen La’Bayit’s team works with young, hard-working Israelis from modest financial backgrounds and helps them become first-time homeowners and lifelong savers.

In the wake of the coronavirus crisis, many young people lost their jobs or were put on unpaid leave; an unexpected and potentially overwhelming financial hit. For many, a loan is only one part of the answer, and buying a house isn’t even on their short-term financial radar. Ogen La’Bayit now offers basic financial coaching to some of the general borrowers of Ogen – Free Loan Fund, ensuring that families are using the loan to improve their financial conduct and build a better financial future.

THE PEOPLE YOU HELP

Gilad was born in 1984 in the middle of the Sudanese desert, while his parents were midway through trekking from Ethiopia to Israel as part of Operation Moses.

Gilad works as a machine technician at Velox, a digital printing start-up. in June Gilad’s wife who works for an importer of electronic goods, gave birth to their first child, a boy named after Gilad’s late father.

Despite both having good jobs and steady income, Gilad and Sarah had no family savings to call upon to help with a down payment to buy their first apartment, a process which seemed to them daunting and risky. With the help of financial coaching and a loan from Ogen, the couple have now bought their home, in Ramle, and will move in during September.

מקבוצת עוגן

Crowd.ilמקבוצת עוגן

OGENLa’BaYitA member of Ogen Group

Crowd.ilA member of Ogen Group

O GEN L A’BAYIT THIS YEAR

Pilot group of 100 borrowers undergoing new "general" financial coaching (unlinked to housing)

1,000 families received homeownership financial coaching

326 families purchased their first home

75 families took a loan from Ogen to supplement their down payment

$2.3 million loaned

Loan size on average: $30,000

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KEREN-SHEMESH

Keren-Shemesh, part of the Ogen Group since 2019, helps small business owners from Israel’s socio-economic periphery; people with drive and entrepreneurial ambition but far removed from Israel’s start-up nation elite.

Through personalized mentoring and a broad set of tools, training, subsidized services, workshops and connections, Keren-Shemesh helps people to grow, establish or rehabilitate their business and become leaders in their local economy and community.

With small businesses devastated by the economic effects of COVID-19, Keren-Shemesh has doubled its activity; launching a special rehabilitative track for businesses in crisis. Keren-Shemesh’s network of more than 900 active volunteer mentorshave been on the frontline of helping small business owners and socialentrepreneurs to withstand, adapt and rebuild in the wake of the coronavirus.

Ment- OrWith Israel’s vital non-profit sector reeling from the coronavirus shutdown, Keren Shemesh partnered with the Jewish Agency for Israel, Israel Venture Network and The National Insurance Institute of Israel (NII) to launch Ment-Or. The project works to mentor, train and equip a cadre of CEOs from Israel's non-profit community with the skills and strategies to cope in the shadow of the coronavirus threat and its economic fallout.

THE PEOPLE YOU HELPDanielle established a business that runs adventure sports trips abroad, aimed at inspiring women by bringing them together and encouraging them to push their physical limits.

Danielle was due to oversee 5 trips this year, all of which were cancelled due to coronavirus travel restrictions, creating significant business challenges.

Danielle started working with Chani, a volunteer business mentor through Keren Shemesh. With Chani’s help, Danielle is working on a strategy to rebuild her business and ensure its survival.

KEREN-SHEMESHA MEMBER OF OGEN GROUP

Keren-Shemesh in Numbers

3,800500

small business entrepreneurs

new businesses hurt by COVID-19

800

200

experienced, dedicated volunteer mentors

non-profits and social enterprises

75% of alumni live off their small business earnings 4 years down the line

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Ways to Give

Establish and Grow a Named Loan FundWith cumulative donations of $10,000 you can establish a loan fund in honor or in memory of a loved one. Donations are recycled (loaned to borrowers, repaid to Ogen and then loaned again) on a continual basis.

Make an Impact LoanThrough an impact loan with Ogen you can stimulate huge social impact AND get your money back, with modest interest. Philanthropic impact lenders make a low-risk, five-year $1 million (minimum) loan to Ogen – Social Loan Fund, to provide large low-interest loans to small businesses and non-profit organizations.

Share the Loan RiskOgen is able to lend to small businesses and non-profits with ultra-low interest and without guarantors because we have donors who support our Risk Mitigation Guarantee Fund. Be part of the philanthropic “first-loss” capital that allows Ogen to lend on the best terms possible.

Support Ogen La'Bayit Donate to fund both financial coaching to help young hard-working Israeli families navigate the housing crisis and buy their first homes, and to help Ogen’s borrowers in general to manage their personal finances and loans.

Give to Keren-ShemeshProvide mentoring and strategic support for small business owners and non-profit CEOs whose businesses and organizations have been devastated by COVID-19.

Donate to the Goodwill TrackSupport Ogen’s approach to help borrowers who fall outside of our usual lending criteria, including people with no alternative credit options. The Goodwill Track combines financial oversight, interest-free loans and donor-funded financial guarantees, to enable Ogen to lend to some of the most financially marginalized people in Israel.

Make a General Donation Donate to support Ogen's general growth and operations, new partnerships, ideas and technologies to improve our service, including the significant costs involved in planning the establishment of Ogen - Israel Social Bank. Designating a gift for Ogen's operating costs allows us to improve the scope, efficiency and effectiveness of our work.

Be a Partner in Ogen - Crowd.ILHelp Ogen and the Jewish Agency for Israel build our innovative new peer-to-peer lending platform.

Join the Legacy Circle Choose to include Ogen in your legacy planning to make an impact in perpetuity. Ogen's cyclical loan model is ideally suited to legacy giving, creating the pathway for continued social impact and a positive legacy for future generations of your family.

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FINANCIAL REP ORTS 2019-2020FINANCIAL INFORMATION SUMMARY Balance Sheet in ILS

December 312019

December 312018

ASSETS

CURRENT ASSETS

Cash and cash equivalents 62,267,337 46,801,437

Cash - Earmarked 279,225 522,897

Short-term investments 3,429,632 3,066,678

Loan repayments due in current year 57,976,027 63,510,394

Accounts receivable 1,068,542 522,995

Related Parties (Ogen – Social Loan Fund) 4,000,000 -

Total 129,020,763 114,424,401

LONG TERM RECEIVABLES

Loan repayments due in successive years 97,573,617 94,024,487

Other 83,102 87,774

97,656,719 114,424,401

FIXED ASSETS

Cost 7,756,606 7,433,887

Accumulated depreciation (4,206,613) (3,831,722)

3,549,993 3,602,165

230,227,475 212,138,827

LIABILITIES AND NET-ASSETS

LIABILITIES 7,702,744 4,628,065

Grant funds - held in trust 946,037 3,330,873

8,648,781 7,958,938

NET - ASSETS

Unrestricted 10,588,326 10,768,145

Temporarily restricted 210,990,368 193,411,744

221,578,694 204,179,889

230,227,475 212,138,827

ASSETS December 31 2019 December 31 2018

LOAN ACTIVITY

Balance of repayment at beginning of year 157,534,881 172,348,470

New loans granted 68,374,600 58,401,670

Loans repaid (70,359,837) (73,215,259)

Balance of repayments owed at end of year 155,549,644 157,534,881

97,656,719 114,424,401

OPERATIONAL BUDGET

INCOME

Contributions for overhead 51,994 294,905

Loan fund administrative fees 3,915,403 3,906,658

Contributions toward Ogen La'Bayit 1,639,375 1,404,531

Borrower administrative fees 733,943 627,737

Grant administration fees 316,552 390,386

Contributions toward new programs 343,054 270,780

Contributions toward Keren Eloul 322,000 270,000

7,322,321 7,958,938

EXPENDITURES

Salaries and related expenses 4,293,890 3,584,291

Ogen L'Bayit* 1,639,375 1,404,531

Borrower credit checks 175,175 216,624

Office expenses 510,638 422,477

Resource development 650,900 392,202

Legal and accounting 124,603 135,115

Depreciation 374,891 296,660

Development of new activities 423,358 559,016

Financial expenses, net 43,542 34,374

8,236,372 7,045,290

Report includes income and expenses for Ogen – Social Loan Fund, a subsidiary of Ogen – Free Loan Fund, which began activities in 2020. As of next year, Ogen Social Loan fund will be audited separately. Ogen’s temporar y operating deficit is a planned result of our strategic investment in this venture.

*Unlike in Ogen's audited financial statements, expenditures incurred for Ogen L'Bayit appear here as a separate line item. Expenditures listed herein for salaries and resource development have been amended accordingly, removing the relative costs of Ogen L'Bayit from these line items. Total expenditures are unchanged.

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O GEN NAMED LOAN FUNDSTHANKS TO OUR SUPP ORTERSOgen - Social Loan Fund, Donors and Impact Lenders in alphabetical order within each categor y

$1,000,000 PLUSAnonymous | Legacy Heritage Fund | Moskowitz Funds | Rashi Fund | Sabbah Fund | Trudy and Bob Gottesman Fund Fund

$500,001 - $1,000,000Albert and Florence Dreisinger Fund | Am Ehad Atlanta for Economic Development Fund | Beren Sea Foundation Fund | BGS Fund | Harry and Jeanette Weinberg Foundation Fund | The Henry and Ada Felzen Family Funds | IVN Fund | Eloul Fund | Oscar & Regina Gruss Fund

$100,001 - $500,000A. Bader Trust Fund | AAEJ Fund | Aaron & Sarah Garfunkel Memorial Fund | Aaron Abecassis Family Foundation Funds | Abraham & Sonia Rochlin Foundation Funds | Abraham and Yehudit Marcus Fund | Abraham Memorial Fund | Arie & Eva Halpern Family Foundation Fund | Berman Family Foundation Fund | Borchard Funds | Carob Tree Fund | Cheryl Saban Self-Worth Foundation Small Business Loan Fund for Single Mothers | Claire and Louis Sand Memorial Fund | David Halperne Memorial Fund | Davis Family Charitable Foundation Fund | Edward Adler Memorial Fund | Ezrah Fund | Eisenberg-Eloul Fund | Foundation Fund | Freda Borger Memorial Fund | GR Charitable Trust Fund | Grossberg Abrams Foundation Fund| Gyryt Loan Fund | Harry & Eleanor A. Schick Fund | Homer Simpson Fund | Irving Montak Memorial Fund | Israel Joint Funds | J.B. & Margaret Blaugrund Fund | Jaffe Fund – Giving Wisely Fund | Jewish Federation & Family Services, Orange County, CA Fund | Joshua H. Resnick Memorial Fund | Jusaca Trusts Fund | Keren Simcha Letzdaka Fund | Larry Roth Memorial Fund | Lasko Family Foundation Fund | Lucius N. Littauer Foundation Fund | Marc Rich Foundation Funds | Max & Elli Podolski Fund | Mazel Fund | Michael Pushett Entrepreneurs Fund | Milton & Helen Monderer Foundation Funds | Moshe Rosengart z"l Charitable Trust | Nathan & Helen Kohler Foundation Fund | Olive Leaf Fund | Rabbi Simon Dolgin Memorial Fund | Rosalinde & Arthur Gilbert Foundation Fund | Samuel Rutta Fund | Sara Rivka bat Devora and Mordechai Yehuda Memorial Fund | Shirley Saper Memorial Fund | Slomo & Cindy Silvian Foundation Fund | Stephen & Faith Cohen 40th Wedding Anniversary Fund | Susan Ruth Fastow Memorial 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

$50,001 - $100,000Abe & Clara Eisen Memorial Fund |Acharai Loan Fund for People with Special Needs | Achim Labayit Fund | Alice & Tom Tisch Fund | Afula Gilboa Loan Fund | Alvin S Jarmel & Dr. Harry & Ruth Jarmulowsky Memorial Fund | Arthur Dollond Memorial Fund | Arthur (Yitzchak) Jaffe Memorial Fund | Beracha Foundation Fund | Citron Family Foundation Fund | David & Barbara B

Adnim Foundation

Anonymous

Arie & Eva Halpern Family Foundation

Atlantic Realty Development Company

Zvi & Ofra Meitar Family Fund

Bernie Groveman

Boaz Raam

Dan Och

Bob Gottesman

Debbie and Carlo Bachrach

Freddy Samama

The Gottesman Fund

Jewish Agency for Israel

Jewish Communal Fund

Joe and Orit Straus

Joel and Ulrika Citron

Lillian & Moris Tabacinic

Maor Foundation

Max and Marjorie Fisher Foundation

Max Barney Foundation

Migdal Group

P.E.F. Israel Endowment Funds

Seth Merrin

Shahaf Foundation

Shuki Erlich

Simon Azoulay

The Russell Berrie Foundation

UJA-Federation of New York

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Hirschhorn Foundation Fund |David & Inez Myers Foundation Fund | Dent-Craps Charitable Trust Fund | Doctor Edward Shaoul Memorial Fund | Dorot Foundation Fund | Dorothy & Helmer Weiner Memorial Fund | Dr. Ben Samuel Memorial Fund | Dr. Marvin Mazza Memorial Fund| Dr. Salomon & Esther Stemmer Fund | Drucker Family Student Loan Fund | East Jerusalem Small Business Loan Fund | Eli Weinstein Funds | Everett Fund | Gimprich Family Foundation Fund | Gorlin Family Foundation Fund | GP Fund | Granoff Fund | Groveman & Ancona Fund | Hadassah Katz Memorial Fund | Harry Kramer Memorial Fund | Help Fund | Ilana & Yair Gat Z"L Fund | Irving & Helen Betz Foundation Fund | Irving Montak Memorial Fund | Jack & Ruby Levkoff Memorial Fund | Jaffe Grandchildren’s Continuity Fund | Jewish Federation of Greater Middlesex County Small Business Loan Fund | Jewish Federation of North Shore Fund | Joe & Margit Hoffman Memorial Fund | Joshua Family Foundation Fund | Karish Fund | Kathryn Ames Foundation Fund | Kavod Tzedaka Collective Fund | Langerman & Pinczower Memorial Fund | Leo and Vera Plotkin Fund | Levi Lassen Foundation Fund | Lipsett Family Lee Javitch Memorial Fund | Louis J. and Miriam Novick Memorial Fund | Louis Maisel Memorial Fund | Marcus-Schwartz Israel Fund | Max Barney Foundation Interest Free Loan Fund | Minda Jaffe Memorial Fund | Morris A. Zipkin Memorial Fund | Orly & Guy Fund | Ploss Family Fund | Pri Etz Hadar | Raychel Solomon Memorial Fund | Raymond and Betty Kaplan Memorial Fund | Robert (Yaakov) Weisz Memorial Fund | Sam and Ruth Shapiro Memorial Fund | Samis Foundation Fund | Samson David Gruber Memorial Fund | Sara & Binyamin Feller Memorial Fund | Sara & Jacob Einhorn Memorial Fund | Schoenbaum Family Foundation Fund | Shirat Shlomo Fund | Sydney E. Franklin Fund | Terumah Philanthropic Fund | Teshuva, Tefila U’Tzdaka Fund | UJA-Federation of New York Emergency Relief Fund | Varon Family Memorial Fund | William P. & Rachel Wolfe and Gerald & Helen Feldstern Fund | YH Tzuk Eitan Fund | Yitzhak Ben Haim, Tzvi Schwartz & Nissim Ben Moshe Yifrach Memorial Fund | Zarrow Family Foundation Fund | Zev & Marcia z”l Gelbendorf Fund | Ziv Tzedaka Fund

Up to $50,000A2B Fund | Aaron Goodman Memorial Fund | Abe Wouk Foundation Fund | Abraham and Claire Adler Memorial Fund | Abrams Ramat Gan Foundation Fund | Adeline & Frank Loewenberg Fund | Alan Dworkin Trust Fund | Alexander & Betty Mohrer Fund | Alvin & Zelda Morrison Memorial Fund | Ami Hordes Fund | Anna Abramowski Fund | Anne and Jack Wolff-Myne and Boris Garr Memorial Fund | Anonymous Fund | Arel Segal Fund | Arie and Manya Givoni Memorial Fund | Arkin Holdings Fund | Arlene & Arnold Goldstein Family Foundation Fund | Atran Foundation Fund | Avital Dym Memorial Fund | Avraham Ventura Memorial Fund | Ayelet Eliashar Fund | Barbara & Daniel Drench Fund | Bart Simpson Fund | Baruch F. Munk & Akiva E. Simon Fund | BC Fund | Beit Shemesh Fund | Belda and Marcel Lindenbaum Memorial Fund | Belle Kirschenbaum Memorial Fund | Ben & Evelyn Lipshitz Memorial Fund | Benjamin & Chana Hoffman Memorial Fund | Berjulie & Hubert Press Memorial Fund | Bert E. Rosenstock Fund | Bertalan and Maria Siegelstein Memorial Fund | Bessiah Gloskin Halperne Memorial Fund | Bila bat Gedaliahu and Yecheskel ben Leib Fund | Bill Borowski Memorial Fund | Bloomberg Family Fund | Bloomington Group 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 Memorial Fund | Chaim & Hanna Scherb Memorial Fund | Chaim Sorin Memorial Fund | Chana Halperne Sorin Memorial Fund | Chana Razel bat Aharon v'Sarah Memorial Fund | Charles and Beatrice Susman Loan Fund | Charles Feuer & David Simons Fund | Charles Schusterman Memorial Fund | Chen and Yona Eini Fund | CO-DA-DJ Fund | Cohen (Cardiff) Fund | Corman Family Fund | Cy Gluck Memorial Fund | Cynthia & Sydney and Jack Goodman Memorial Fund | Cyril Stein Memorial Fund | Dahlia & Avinoam Gottlieb Fund | Daniel Rubin Memorial 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. and Guilford Glazer Fund | Dora and David Solomon Memorial Fund | Dorot Chevrat Tzedaka 2003 Fund | Dr. Ephraim Maron Memorial Fund | Dr. Mordechai Yaakov Knoll Memorial Fund | Dr. Robert Jack and Brenda Clair Poller Fund | Dr. Ruth Perlman Klebaner Memorial Fund | Dr. William Gold Memorial Fund | Dubrow Family Fund | Edie Ram Memorial Fund | Edward Cohen Birthday and Retirement Fund | Elaine Gorbach Levine Foundation Tzedakah Fund | Eli J. Band Memorial Fund | Elliot & Roslyn Jaffe Family Foundation Fund | Ephraim & Rachel Greenfield Fund | Eric Anthony Watts (Brown ’95) Fund | Esther & Albert Goldstein Memorial Fund | Esther & Myer Rosenberg Fund | Esther Taub Memorial Fund | Ethiopian Students Fund | Etrog 2 Fund | Evelyn Furman Rosen Memorial Fund | Evelyn Topper Centenary Fund | Exilarch’s Foundation Fund | Ezra & Linda Attar Fund | Fierst Family Fund | Florence Greenwald Dreisinger Fund | Fox Family Foundation Fund | Fred Simon Worms O.B.E. Memorial Fund | Freda Rosenfeld & Hillel Wallick Fund | Freida Mirvis Memorial Fund | Gemilut Chesed Fund | George Arnold Memorial Fund | Gershon & Harry Zwick Memorial Fund | Gil Topman Z''L Memorial Fund | Goldman Foundation Fund | Gordin-Glass Fund | Greenberg Family Fund | H. Friedman Fund | Hannah & Philip Blashki Memorial Fund | Hannah S. & Samuel A. Cohn Memorial Fund | Harav Avraham & Sarah Sopher Fund | Harav Jerry Robbins Memorial Fund | Harold & Bettey Neustadter Fund | Harold & Roslyn Stein Memorial Fund | Harold A. Schwartz Foundation Fund | Harold Grinspoon Foundation Fund | Harold Josey Z''L Fund | Hattie & George J. Golden Fund | Hawtof Suskin Families Fund | Heinish Foundation Fund | Helga Strahovnik and Shimon Zaricky Memorial Fund | Herbert J. & E. Solomon Foundation Fund | Herta Weil Memorial Fund | Hilda and Samuel Marks z"l Fund | Hilda and Samuel Marks z"l Fund Hilde & Jochanan Sauer Fund | Hinda Leah Memorial Fund | Ian Karten Charitable Trust Fund | Ibn Art Memorial Fund | ID Believe Fund | Ilse & Fred Stamm Memorial Fund | Ira Daitzman Memorial Loan Fund | Ira Zackon Fund | Irving Pfeffer Z''L Fund | Isaac Djemal Memorial Fund | Isabelle Harris Memorial Fund | Israel (Issie) Akerman Memorial Fund | Ivan Ciment Charitable Foundation 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 and Beverly Glickman Fund | Joseph Neustein Fund | Joseph Roumani & Elise Tammam Roumani Fund | Josephine Lee Memorial Fund | Joshua Mark Lipetz Memorial Fund | Judy Adler Memorial Fund | Karsch Fund | Jusaca Trust Fund | Kenneth & Anna Zankel Loan Fund | Keren Arie and Sara Fund | Keren Kanfei Yona – The Thelma Gorin Memorial Fund | Keren Michael Radzinski | Keren Or | Klitsner Family Fund | Klitsner-Wolff-Shapiro Family Fund | KLK Fund | Kriel Family Fund | Large Families Fund | Larry Rochlin Student Loan Fund | Leg Up Fund | Leila Rendel Fund | Leo Grahame Memorial Fund | Leopold & Zdenka Herzog & Margaret Tedesdo Fund | Lillian Rebecca Silverstein Loan Fund | Linda Laing

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Memorial Fund | Lorraine Gastwirt Memorial Fund | Louis & Frances Benjamin Memorial Fund | Luria Family Foundation Fund | Madeleine and Sydney Baigel z"l Memorial Fund | Madlyn and Lou Barnett Living Trust Fund | Marian & Robert S. Brill Memorial Fund | Marilyn Lowenstein Memorial Fund | Martin & Muriel Ziff Family Fund | Mashe & Dorothy Kodish Memorial Fund | Mauricio Grin Fund | Maxine Blendis Family & Friends Fund | Mem Philanthropic Fund | Menahem Mendel Fogel Memorial Fund | Menashe and Miriam Levy Memorial Fund | Michael & Minna Kreisel Torah Gemilut Chesed Fund | Michael Bronzite Fund | Michael Kesztenbaum Loan Fund | Milton & Diana Davis Philanthropic Fund | Miriam & Binny Shalev Fund | Mirel Emanuel & Adolf Gleicher Memorial Fund | Molly & Morris Friedman & Leon & Dorothy Sacks Fund | Mordechai Nechemia Dickstein Fund | Morris & Beverly Baker Foundation Fund | Moses Hess Memorial Fund | Moskovits Hillel & Avigail Fund | Murray Gold Memorial Fund | Naama Nadler (Samuel) Memorial Fund | Nachshon z"l Fund | Nahlat Shlomo Fund | Nachshon z"l Fund | Nancy & Jeffrey Hallis Philanthropic Fund | Naomi Banner Memorial Fund | Naomi Ozeri Memorial 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 Azza | Oma Bep Zion, Oma Rachel Sachs and Oma Marcelle Zion Fund | Ozick Family Fund | Pamela Herbst Fund | Patricia Goldberg Memorial Fund | Paul & Sandra Wolff Memorial Fund | Paulette & Rudolph Haviv Perach Memorial Fund | Pauline & Abraham Wilner Memorial Fund | PEF Business Loans Fund | Peter and Naomi Neustadter Fund | Peter L. Singer Fund | Phyllis Shaw Memorial Fund | Pinchas Cohen Memorial Fund | Pinchas Hai Elbag Memorial Fund | Pincus Paul Charitable Trust Fund | Price Family Fund | Quentin Nisse & David Zinkin Fund | Rabbi Esther Adler and Dr. Robert Lebowitz Fund | Rabbi William Zev & Eda Bess Novick Memorial Fund | Rachel Rosner Rosenberg Memorial Fund | Ralph Goldman & Arnie Pins Fund | Rav Asher Dov & Miriam Kahn Memorial Fund | Rav Avraham & Simha Choukroun 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 | Rose Garfin Z''L Fund | Rose Levin Memorial Fund | Rosenthal Fund | Rosman Fund | Rubinstein, Koschitzky and Gitler Gush Katif Fund | Ruderman Family Foundation Loan Fund for Entrepreneurs with Disabilities | Ruth and Seymour Rowen Loan Fund | Ruth Bat Natan & Moshe Velvel Ben Shmuel Memorial Fund | Ruth Goldberg Memorial Fund | Ruth Maron Memorial Fund | Ruth Rand Fund | Ryan Abraham Khaldar Memorial Fund | Saba Chaim Nachman Shitzkovski Memorial Fund | Samuel Cohen Solal Foundation Fund | Samuel Rosenberg Memorial Loan Fund | Samuel Sebba Charitable Trust Fund | Sarah & Moshe Feldman Memorial Fund | Sarah Sa’ar Memorial Fund | Schusterman Foundation – Israel Fund | Scott Jeffery Friedman Memorial Fund | Searle & Cynthia Selmon Fund | Shaarei Rachel | Shani & Salvo Bachar Fund | Sheva Shayndell (Sondra) Schwartz Fund | 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 and Edith Mantinband | Sobell Foundation Fund | Soberzan Family Fund | Sol Pomerantz Memorial Fund | Sophie & Isaac Ben Laish Fund | Soref Foundation Fund | Strassfeld Soul Support Foundation Fund | Suzanne & Michael Hochstein Family Fund | Sweetwood Solidarity Fund | Sybil & Gerald and Percy Kramer Fund | Talmi Shafer Memorial Fund | Tay Family Fund | Tchiya and Yakov Rand & Hannah and Eliyahu Bornstein

Memorial Fund | Temple Israel – Great Neck, NY Fund | The David Fund | The Lifeline Fund | The Miriam Zak (née Eisenberg) Jerusalem Memorial Fund | Thomas H. Stanton and Martha J. Zaslow Fund | Tikun Olam Program Fund | Tikvah Fund | Tikvat Israel Synagogue Fund | Tovah B. and William C. Rosenfeld Memorial Fund | Tugendhaft – Taube Memorial Fund | Tzedakah Fund | Tzvi Harold Gorin Memorial Fund | Victoria & Rahamim Natan Fund | W Family Fund | Weiner Family Fund | William Fern Philanthropic Fund | Winter Family Fund | Wurzbourg Family Memorial Fund | Ya'akov and Leah Fund | Yaakov Halperne Memorial Fund | Yad Yehiel Fund | Yagel Yacov Yismach Yisrael Fund in Memory of Rabbi Dr. Israel Tabak z”l and Dr. Yacov Tabak Z”L | Yehuda Nattan Yudkowsky Memorial Fund | Young Philanthropist Committee Fund | Zella & Jack Butler Loan Fund | Zvi & Yehudit Eshet Z''L Fund

Thank you for making what we do possible.

Daniel, co-founder of pandachocolate.co.il. Took a business loan through Ogen and grows his company with help from Keren-Shemesh.

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BOARD, OGENFree Loan Fund Ofir Ozeri Adv., ChairmanJoel Baris, Adv.Peggy BrillYair CohenYona CohenSamuel Cohen-SolalOhad EiniDr. Zvi FeineUri JaffeChaim NeumanDavid RamJosiah RotenbergLevana ShifmanYishai Tachover

Emeritus Board Member:Edward Cohen

FOUNDERProfessor Eliezer Jaffe, Z"L

BOARD, OGENSocial Loan FundOfir Ozeri Adv., Chairman,

Linda Benshoshan

Yair Cohen

Aviad Friedman

Boaz Raam

David Ram

Daniel Recanati

Tal Shlasky

Dalia Tal

BOARDAmerican Friends of Ogen Ari Jaffe, PresidentBob GottesmanBen JaffeMichael LustigBeth Sirull

SENIORMANAGEMENTSagi BalashaCEO

David AngelDirector of Strategic Partnerships

David BangoDirector of Ogen La'Bayit

Simon CadranelChief Credit Officer, Ogen - Social Loan Fund

Moshe DanielCOO & CTO

Dr. Dan HermanDirector of Marketing

Monika Lev-CohenCEO, Keren-Shemesh

Nir MachlufDirector of Finance and HR Development

Svetlana MishinManager, Personal Loans Department

Carmella NissimAdv., Director of Legal Department

Meira SchwartzManager, Business Loans Department

Danny SingerDirector of Development

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For Israeli tax deductible donations:Credit card donation:Visit www.ogen.org/enChecks should be mailed to:Ogen - Free Loan FundPOB 10424Jerusalem Amuta 58-0173557

For US tax deductible donations:Credit card donation:Visit www.ogen.org/enChecks should be mailed to:American Friends of Ogenc/o Ari Jaffe2330 Milton RoadUniversity Heights, Ohio 44118 IRS tax exemption number: 13-3691494

For UK tax deductible donations:Checks should be mailed to:British Friends of Ogenc/o Kenneth Keller25 Lodge Avenue, BorehamwoodElstree Herts WD6 3NA, EnglandCharity Commission: 1009568

For Canadian tax deductible donations:Checks should be mailed to:Canadian Friends of Ogen17 Park Hill RoadToronto, OntarioM6C3M8Charity: 1036714-09

For bank transfer details or questions, please contact Ogen's development department:From Israel: 02-530-0787From the US: 212-203-0055development@ogen.org www.ogen.org | Rivka 29, POB 10424, Jerusalem, Israel

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

D O N A T E T O D A Y