Weinberg Foundation grants $3 million to Ogen—expands CDFI initiative to Israel

The Foundation is excited to partner with Ogen, a nonprofit social-finance fund in Israel, to support its growth as one of the first financial intermediaries in Israel helping nonprofits achieve their missions through equitable access to capital. Ogen is committed to improving financial inclusion and opportunity in Israel by providing affordable loans and financial mentoring for nonprofits, small businesses, and individuals who are not served by mainstream financial institutions or government programs. More specifically, this partnership will build capacity for Ogen’s Social Loan Fund by providing affordable and flexible loans for nonprofits in Israel to address cash flow challenges caused by the continued economic impacts of COVID-19.

In providing this $3 million grant to Ogen, the Foundation is advancing its CDFI (Community Development Financial Institution) initiative. The Foundation continues to explore how grantmaking combined with financial instruments can ultimately expand services to low-income communities that have been historically excluded from capital. Last year, the Foundation announced $7.5 million in grants to CDFIs throughout four of its US priority communities as part of its COVID-19 emergency grantmaking to address nonprofit resiliency-building both during and after the pandemic.

Like and share:

More e-news

Baltimore Summer Funding Collaborative announces $5.3 million for programs serving children and youth
The Baltimore Summer Funding Collaborative (the Collaborative) has awarded $5.3 million in grants to support 93 high-quality summer programs serving children and youth living in low-income families throughout Baltimore City. The Collaborative is a partnership between public, private, and nonprofit institutions that aims to create summer program opportunities for families that provide academic support to...
Weinberg Foundation rural grantmaking findings and shift in focus
In 2021, the Foundation began a review of its rural grantmaking framework and funding priorities, in order to reflect and respond to the needs of rural communities that we serve. The Foundation conducted 40 interviews with a diverse set of leaders in rural areas across the country and reviewed more than 100 sources addressing issues...
More than $10 million in recent grants announced
The Weinberg Foundation recently approved more than $10 million in grants supporting the areas of Housing, Health, Jobs, Education, and Community Services. Housing Stable housing provides a foundation for individuals, children, and families to lead healthy and productive lives. Without housing, people are unable to focus on education, employment, health care, and meeting other basic...

Sign up for our e-newsletter!