| Number: | 58-017355-7 |
| Name: | The Israel Free Loan Association |
| Address: | Prof. Eliezer D. Jaffe
64 Azza Street
Jerusalem 92384
|
| Phone: | (02) 5630248 |
| Fax: | (02) 5669504 |
| Email: | ifla@freeloan.org.il |
| Website: | www.freeloan.org.il |
| President: | Prof. Eliezer Jaffe |
| General Manager or Contact: | Ms Yonah Cohen |
| Board Members: | 12 |
| Employees: | 6 |
| Year Registered: | 1990 |
| Type of Foundation: | Private/Independent |
| Open to Applications: | Yes |
| What needs to accompany applications: | Foundation Application Form
payslips, copy of Identity Card |
| Types of Grants Offerred: | interest-free loans to needy immigrants and others |
| Application Submission
Times: | Applications are accepted at all times. |
| Replies: | Replies are sent at the beginning of each month. |
| Method of follow up of grant recipients: |
through examination of documents and regular loan repayments |
| Require report on how the grant money was
spent? | |
| Total Assets of Foundation: | $ |
| Total of Grants given: | $ |
| Largest Grant: | $25000 |
| Smallest Grant: | $1000 |
| Accept Donations: | Yes |
Donations Tax-deductable
in Israel? | Yes |
Donations Tax-deductable
in U.S.A? | Yes |
| Annual Report available to potential donors? | Yes |
| Who makes the decision to approve grant requests? | The Board
|
| Publications? | Annual Report
Advertisements in newspapers
newspaper articles |
| Foundation's Aims: | The Association provides loans for specific categories of applicants: immigrants from all countries, large families, newly-established small businesses, university students, couples adopting a child from overseas, single-parent families, parents raising a disabled child at home, and other specified emergency needs. Applications are received from all over the country. Loans repayments are linked to the dollar, but interest is not charged. |
| Activities: | Free Loans
Housing
Social Welfare
|
| Geographic Area of Operation: | All of Israel
|
| Member of the Israel Foundations
Forum? | Yes |
| Subsidiary or branch of a foreign foundation? | |
| Grant Limitations: | Applicants must have a regular income, and be able to provide two guarantors. Loans are not provided for purposes other than those noted above. Applicants must be able to make reasonable monthly repayments of the loan. |
| Comments: | From time to time the Association receives sums of money from a donor with instructions to use the funds to provide assistance to a particular individual or organization. These funds are handled strictly in line with the donor's request, and these funds are not available to other applicants.
All of the Association's income derives from donations from individuals and charitable foundations, both in Israel and abroad. Additional donations are required, in order to meet the growing number of applications. Since 1990 the Association has made 14,000 loans, totalling more than $16 million. The Association is recognized as a Mossad Tziburi, entitling donors to a tax credit in accordance with Section 46 of the Income Tax Ordinance. |
| Last updated: | 1970/01/01 |