The Olam
FIDF Is Sitting on $137 Million
Global Jewish Philanthropy

FIDF Is Sitting on $137 Million

The Olam Editorial Team
Aug 16, 2026

The first public analysis of FIDF's 2025 Grant Thornton audit. During two years of war, FIDF's unrestricted net assets doubled to $137 million while program grants held at $139 million per year.

Friends of the Israel Defense Forces (FIDF) is a U.S. 501(c)(3) nonprofit that raises money for programs benefiting IDF soldiers, veterans, and their families. Founded in 1981 and headquartered in New York, FIDF operates 25 chapters across the United States, employs approximately 173 people, and maintains offices in Petach Tikva, Israel. It is one of the largest Israel-focused charities in the United States.

On August 6, 2026, FIDF filed its 2025 audited financial statements — audited by Grant Thornton LLP with an unmodified opinion. The filing is the first full-year audit since both FIDF's chairman and CEO resigned in July 2025. It reveals a central pattern: during two years of active military operations, FIDF's unrestricted net assets rose from $67.0 million in 2023 to $136.8 million in 2025 while annual program grants reported as expenses remained around $139 million.

FIDF at a Glance — 2025 Audited Financials

Metric2025
Revenue$191,735,520
Program Grants (expense)$138,974,837
Total Expenses$183,973,657
Program Services (of total expenses)$150.8M (82%)
Total Assets$399,893,356
Net Assets$312,924,663
Unrestricted Net Assets$136,793,692
Donor-Restricted Net Assets$176,130,971
Investments$298,435,487
Grants Payable (net)$66,838,904
Available for General Expenditure (1 yr)$139,721,084
Employees (2024 Form 990)173
Charity Navigator Rating4 stars (11 consecutive years)
EIN13-3156445

Source: FIDF 2025 audited financial statements (Grant Thornton LLP, August 6, 2026) and 2024 IRS Form 990.

Where FIDF Donations Go: $139 Million in Program Grants

The most important line in FIDF's financial statements is "grants for projects and programs (including direct payments to vendors)." In 2025, that figure was $138,974,837 — reported as an expense in the audited statement of functional expenses. Some of this spending is reflected in grants payable rather than immediate cash transfers. In 2024 the figure was $139,784,038. In 2023 it was $135,971,944.

FIDF primarily funds Israeli partner organizations that execute programs on the ground:

Association for Israel's Soldiers (AFIS) — FIDF's principal grantee. An Israeli nonprofit that works directly with the IDF and the Israeli Ministry of Defense. Formed from the 2016 merger of three charities including LIBI. The bulk of FIDF's $139 million flows through AFIS, which deploys funds across FIDF-designated programs. Funds are disbursed twice monthly per board-approved letters of commitment.

Sheba Medical Center — FIDF's primary partner for mental health care. The emergency campaign committed $25 million to Sheba. In 2025, $7.6 million funded a Sheba-related health construction project, reported by the audit within the construction program category. Sheba operates "Back to Life" mental trauma treatment centers at Beit Halochem locations across Israel.

Nefesh B'Nefesh — Facilitates aliyah and supports lone soldiers. FIDF's $6.8 million partnership extends through 2029.

Zahav Disabled Veterans Organization — Supports wounded veterans. Specific dollar allocation not separately disclosed in the audit.

Cohen Veterans Network — Listed by Charity Navigator as a key FIDF partner. Allocation not separately disclosed.

IMPACT! Scholarship Program — FIDF's only program delivered directly rather than through Israeli partners. Full four-year scholarships for former combat soldiers from disadvantaged backgrounds.

FIDF is not the only American charity raising funds for IDF soldiers. Others include American Friends of LIBI (which claims equivalent IDF authorization), American Friends of Unit 669, American Friends of Israel Navy SEALs, Friends of Duvdevan, Operation Israel, Yashar LaChayal, and pass-through vehicles including PEF Israel Endowment Funds, the Jewish Communal Fund, and the Central Fund of Israel.

FIDF Programs: How $139 Million Was Allocated in 2025

The 2025 Grant Thornton audit reports program grants in three categories:

Audited Program Category2025
Wellbeing and Recreational Programs$75,088,931
Construction Programs$39,578,103
Educational and Scholarship Programs$24,307,803
Total grants for projects and programs$138,974,837

Source: FIDF 2025 audit, Statement of Functional Expenses.

Methodology note. The three headings below — Health, Well-Being, Educational — are Olam's recut of the audited figures, grouping construction spending with the programs it serves. They are not categories used in the filing. The recut reconciles to the audit: health construction ($19.4M) plus non-health construction ($20.2M) equals the audited construction total of $39,578,103; health well-being ($24.2M) plus other well-being ($50.9M) equals the audited wellbeing and recreational total of $75,088,931; educational matches the audited figure exactly. Named sub-programs are drawn from Note 1.

FIDF Health Programs: $43.6 Million

$24.2 million for well-being initiatives, $19.4 million for health-related construction. Dominated by mental health — PTSD treatment, therapy clinics, and screening programs that did not exist at this scale before October 7.

Wounded soldier and bereaved family programs — $17.8 million. Grants, supplies, gift cards, and events for soldiers in rehabilitation and bereaved families. Double the $8.7 million in 2024 — the largest year-over-year program increase, reflecting ongoing casualty levels.

Mental health construction — $11.8 million. PTSD treatment facilities. Down from 2024's $41.5 million, which included a $32.4 million increase in grants payable (accounting commitments, not cash out the door). Flagship: the first-ever IDF Mental Health & Resilience Center, $39 million over multiple years.

Mental health therapy and PTSD services — $9.5 million, of which $7.6 million is the Sheba Medical Center health construction project, which the audit reports within the construction category. Direct therapy and PTSD service spending outside that project was approximately $1.9 million. The emergency campaign separately committed $25 million to Sheba.

Recharge Weeks — $4.5 million. Week-long program at the Recreation Village in Ashkelon. 45 Recharge Weeks, approximately 25,000 soldiers. Early PTSD detection, physical therapy, dental care.

FIDF Well-Being Programs: $71.1 Million

$50.9 million for well-being initiatives, $20.2 million for construction. Named sub-programs in Note 1 account for $45.2 million of the $50.9 million; the balance is not separately itemized in the filing.

Emergency well-being (Operation Rising Lion) — $8.9 million. New line item. Real-time response during the 2025 military operation.

Lone Soldier support — $8.6 million. Over 4,200 lone soldiers. $6.8 million via Nefesh B'Nefesh (through 2029). Up from $5.7 million.

Adopt a Brigade — $6.2 million. 29 brigades. Lone soldiers and low-income soldiers.

General financial support — $4.8 million. Cash subsidies, food vouchers. ~10,000 soldiers.

Spiritual and heritage programs — $3.3 million. Judaic cultural programs. 24,000+ soldiers. Up from $0.9 million.

Adopt a Battalion — $3.2 million. 89 battalions. 45,000+ soldiers across both adoption programs.

Other well-being — $10.2 million. Fitness kits, unit barbeques, haredi soldier support.

Construction (non-health) — $20.2 million. Recreation centers, synagogues, memorial rooms, auditoriums, soldier homes.

FIDF Educational Programs: $24.3 Million

Matches the audited Educational and Scholarship category exactly: $24,307,803.

IMPACT! Scholarships — $15.8 million. 3,221 scholarships (2025-2026). 130 hours annual community service. 20,000+ graduates since 2002.

Educational and training programs — $8.5 million. Immigrant assimilation, mentorship, special-needs support, and soldier training programming. 52,000 participants. More than double 2024's $3.9 million.

FIDF Revenue and Expenses: Three-Year Financial Overview (2023–2025)

202320242025
Total Revenue$287,944,432$193,664,284$191,735,520
Program Grants (expense)$135,971,944$139,784,038$138,974,837
Total Expenses$174,266,646$176,482,056$183,973,657
Net Assets$287,980,572$305,162,800$312,924,663
Unrestricted Net Assets$67,047,161$87,093,764$136,793,692
Donor-Restricted$220,933,411$218,069,036$176,130,971
Total Assets$336,434,268$383,993,388$399,893,356
Investments$256,365,803$307,272,109$298,435,487
Grants Payable$28,825,837$61,212,067$66,838,904
Available for Gen. ExpenditureN/A$86,047,525$139,721,084

Source: FIDF audited financial statements (Grant Thornton LLP), 2023, 2024 and 2025 filings.

The divergence is in two rows. Program grants: $136.0M → $139.8M → $139.0M. Unrestricted net assets: $67.0M → $87.1M → $136.8M. Donor-restricted net assets fell from $220.9M to $176.1M as October 7 surge funds were released and spent. FIDF's discretionary balance sheet expanded by $69.7 million in two years while annual grant-making held steady.

FIDF Revenue: What Friends of the Israel Defense Forces Raised in 2025

Revenue Line2025
Contributions$123,402,386
Special events income, net$42,170,134
Investment gain$14,766,723
Bequests$6,766,388
Foreign exchange gain$3,126,813
Change in value of split-interest agreements$1,435,240
In-kind contributions$67,836
Total revenues, gains and other support$191,735,520

Contributions: $123.4 million. Nearly identical to 2024's $120,291,449. In 2023: $228 million.

Special events (net): $42.2 million. Gross $56.5 million, less $14.3 million direct costs (catering $3.4M, travel $6.7M, entertainment $1.4M, photo/video $1.6M). Essentially flat against 2024's $42,146,375.

Investment gain: $14.8 million. $6.8 million interest/dividends, $8.0 million gains.

Bequests: $6.8 million. Down from $13,326,257 (2024) and $17.9 million (2023).

Foreign exchange gain: $3.1 million. Up from $210,837 in 2024.

FIDF Donor Concentration: Pledges and Bad Debt

Contributions receivable reached $79,616,389 at year-end 2025, up 27% from $62.5 million. Two donors represented approximately 20% of outstanding gross receivables (Note 5). The same ratio appeared in 2024.

FIDF wrote off $5,384,158 in bad debt from uncollectible pledges — more than double 2024's $2.5 million. The 2024 Form 990 Schedule B shows the five largest contributions at $10.3 million, $6.6 million, $5.5 million, $4.4 million, and $4.1 million (names redacted).

FIDF Emergency Campaign: The $250 Million Commitment After October 7

Sourcing note: the emergency campaign figures below do not appear in the audited financial statements. The 2025 audit contains no reference to a $250 million commitment or to campaign-level raised, transferred, or scheduled amounts. These figures are FIDF's own disclosures on fidf.org/financials, self-reported and not covered by the Grant Thornton opinion. The audited figure that constrains the timeline is grants payable — $66,838,904 net, $70,050,067 gross, maturing through 2028.

Status as of mid-2026 per FIDF's public disclosures:

$242 million raised (97% of $250 million goal).

$250 million contractually committed.

$159 million transferred to Israel (64% of the $250 million committed).

$35 million scheduled for transfer by end of 2026.

$56 million scheduled for 2027-2029.

Transfers by category: $48 million mental health, $34 million emergency medical equipment/supplies, $25 million wounded soldier/bereaved family, $52 million other emergency well-being.

Disclosed Emergency Commitments

$39 million — IDF Mental Health and Resilience Center

$25 millionSheba Medical Center mental health partnership

$23 million — Spirit Weeks (combat reprieve + PTSD detection)

$20 million — Therapy clinics for veterans and families

$17 million — Legacy Camps and Bereaved Family Retreats

Money raised from donors responding to October 7 in 2023 will not fully deploy until 2029.

Full analysis of the six-year deployment timeline, the grants-payable maturity schedule, and how other October 7 emergency campaigns deployed: FIDF Raised $242 Million After October 7. $91 Million Is Still Scheduled Through 2029.

FIDF Reserves: $298 Million in Investments and $140 Million Available

Investment portfolio at year-end 2025:

Asset ClassAmount% of Portfolio
U.S. Treasury & Gov't Agency$159.1M53%
Corporate Bonds$60.8M20%
Cash Equivalents$37.8M13%
Mutual Funds & ETFs$25.0M8%
Common Stock$15.5M5%
State of Israel Bonds$274K<1%

Source: FIDF 2025 audit, Note 3. Total $298,435,487.

The better measure of FIDF's financial flexibility is not gross investments — which include restricted and endowment assets — but the audit's own liquidity calculation (Note 6):

Total financial assets: $391,456,094

Less donor-imposed restrictions: −$176,130,971

Less contractual/internal restrictions: −$75,604,039

Available for general expenditure within one year: $139,721,084. Up 62% from $86,047,525 in 2024.

Against this, FIDF carries $66,838,904 in grants payable (Note 9: $70,050,067 gross, less a $3,211,163 discount at 3%). Maturity of the gross obligation: $29,191,537 within one year, $40,858,530 in one to three years. Firm obligations for construction ($54 million) and multi-year well-being ($16 million).

CharityWatch calculated FIDF's available net assets at 1.93 years of annual expenses as of year-end 2023 — below CharityWatch's 3-year downgrade threshold. CharityWatch has never downgraded FIDF in 12 years of coverage. FIDF holds a Charity Navigator four-star rating for 11 consecutive years (2% of U.S. charities) and Candid's 2025 Platinum Transparency Seal (0.1% of nonprofits).

FIDF Salaries and Expenses: Travel Costs Rose 84% to $8.3 Million

Total 2025 expenses: $183,973,657.

Program services: $150,786,975 — 82% of total expenses. This includes $138,974,837 in grants for projects and programs plus approximately $11.8 million in program-side operating costs (program salaries, program travel, and related).

Supporting services: $33,186,682 — 18%. Management and general $14,750,654; fundraising $18,436,028.

Expense Line20242025Change
Salaries$17.6M$21,899,766+24%
Travel & Conferences$4.5M$8,286,877+84%
Fundraising (total)$15.5M$18,436,028+19%
Management & General$12.6M$14,750,654+17%
Professional Fees$3.8M$4,547,497+18%
Bad Debt Expense$2.5M$5,384,158+116%
Program Grants$139,784,038$138,974,837flat

Source: FIDF 2025 and 2024 audited financial statements, Statement of Functional Expenses.

Salaries allocate as follows: fundraising $12,105,386; management and general $5,391,227; educational programs $2,728,512; wellbeing programs $1,373,485; construction programs $301,156. Travel and conferences: special events $6,742,673; fundraising $985,944; management and general $189,379.

Top five independent contractors (2024 Form 990): Ortra Ltd., Tel Aviv ($1.9 million, travel); Mosaic Tours ($773,000, travel); BW Hotel LLC ($504,000, hotel/events); Pier Sixty LLC ($474,000, event hosting); Cohn Reznick LLP ($424,000, accounting).

The 84% increase in travel — from $4.5 million to $8.29 million — is the largest percentage jump among major operating lines, and $6.74 million of the 2025 total sits in special events. The filings do not explain what drove the increase.

Fundraising efficiency: $0.13 in fundraising cost per dollar of program grants. Most evaluators consider ratios below $0.25 acceptable.

FIDF Net Assets: Restricted vs. Unrestricted

Unrestricted: $136,793,692. Board-discretionary. Grew 57% in 2025 from $87,093,764. Doubled since 2023's $67,047,161.

Donor-restricted: $176,130,971. Declined from $218,069,036. The audit reports $138,974,837 in net assets released from restrictions during 2025 and $74,418,701 in contributions with donor restrictions. Those two figures do not by themselves reconcile the change — restricted special events income ($26,337,434), restricted bequests ($1,266,507), and investment activity also move the balance.

Restricted by purpose at year-end 2025: Wellbeing/recreational $68,955,869 (down from $111.6M), Educational/scholarship $44,343,108 (down from $53.0M), Split-interest agreements $39,829,652, Construction $11,534,768, Time restrictions $11,467,575.

Corpus held in perpetuity: $14,272,502.

FIDF Leadership After the July 2025 Resignations

Chairman Morey Levovitz and CEO Steven Weil both resigned in July 2025. The 2025 audit is the first full-year filing under the successor leadership.

Professional staff (per FIDF's leadership page): Chief Executive Officer Maj. Gen. (Res.) Nadav Padan, previously National Director. Executive Vice President Jeremy Chwat. Chief Financial Officer Eli Srulowitz, who signs FIDF's IRS filings as Alan Srulowitz. Vice President, Israel Operations Brig. Gen. (Res.) Liron Donnell. Chief Information Officer Adam Broidy. Vice President, Marketing Rebecca Rafelson. Vice President, People and Culture Karen Benson.

Board officers: Chairman Fred Distenfeld. National Vice Chairman Wendy Moskowitz. Treasurer Tim Levart. Chairpersons Emeritus include Peter Weintraub, Dr. Nily Falic, Larry J. Hochberg and Arthur Stark.

The 2024 Form 990, signed October 29, 2025, reports compensation for the prior leadership year: Steven Weil, CEO, $658,065; Nadav Padan, National Director and CEO, $397,925; Galit Brichta, VP Northeast Region, $325,801; Alan Srulowitz, CFO, $312,043; Jenna Griffin, VP Western Region, $247,479; Ari Dallas, COO, $240,000. The board is reported at 59 voting members.

Questions for FIDF

1. Why did unrestricted net assets rise 57% in 2025? From $87,093,764 to $136,793,692 while program grants were flat. Was this a deliberate board decision to build reserves, or a timing effect?

2. What reserve level does the board consider appropriate during wartime? Available-for-general-expenditure rose 62% to $139,721,084. Does the board have a target reserve ratio?

3. What explains the 84% increase in travel and conference expenses? From $4.5 million to $8,286,877, of which $6,742,673 is special events. Expanded operations? Mission travel? Gala costs?

4. What drove the doubling of bad-debt expense? $5,384,158 vs. $2.5 million. Did specific large pledges fail to materialize?

5. Does FIDF expect available-for-general-expenditure to decline as emergency commitments are paid? $91 million remains untransferred through 2029 per FIDF's own disclosures. Will new revenue replenish or will the cushion shrink?

Frequently Asked Questions About FIDF

What is FIDF?

Friends of the Israel Defense Forces (FIDF) is a U.S. 501(c)(3) nonprofit (EIN 13-3156445) incorporated in New York in 1981. It raises funds to support the health, well-being, and education of IDF soldiers, reservists, veterans, and their families. FIDF has 25 chapters, approximately 173 employees, and does not provide military equipment.

Is FIDF a legitimate charity?

FIDF holds a Charity Navigator four-star rating for 11 consecutive years (achieved by 2% of U.S. charities), Candid's 2025 Platinum Transparency Seal (0.1% of nonprofits), and has never been downgraded by CharityWatch for high reserves. Its financial statements are audited annually by Grant Thornton LLP, which issued an unmodified opinion on the 2025 statements.

Is FIDF part of the IDF?

No. FIDF is an independent American nonprofit. It is not a government entity and is not part of the Israeli military. It raises funds in the United States and distributes grants to Israeli organizations that support soldiers.

Does FIDF give money directly to the Israeli military?

FIDF does not provide military equipment. Its funding supports soldier well-being programs — scholarships, mental health treatment, financial assistance, recreation facilities, wounded soldier rehabilitation, and bereaved family support. Grants flow primarily through the Association for Israel's Soldiers (AFIS), which coordinates with the IDF and Ministry of Defense.

How much money does FIDF raise?

In 2025, FIDF reported $191,735,520 in total revenue. In 2024: $193,664,284. In the post-October 7 surge year of 2023: $287,944,432. Revenue comes primarily from direct contributions and fundraising events.

How much money does FIDF have?

At year-end 2025, FIDF reported $399,893,356 in total assets, $312,924,663 in net assets, and $298,435,487 in investments. Of its net assets, $136,793,692 is unrestricted (board-discretionary) and $176,130,971 carries donor-imposed restrictions.

How much does FIDF spend on soldiers?

FIDF reported $138,974,837 in program grants as expenses in 2025. Across 2023, 2024 and 2025 combined, FIDF reported $414,730,819 in program grants — $135,971,944 in 2023, $139,784,038 in 2024, and $138,974,837 in 2025. The audit's three program categories in 2025 were wellbeing and recreational ($75,088,931), construction ($39,578,103), and educational and scholarship ($24,307,803).

How much does FIDF spend on salaries?

FIDF reported $21,899,766 in salaries in 2025, up from $17.6 million in 2024. Of that, $12,105,386 was allocated to fundraising and $5,391,227 to management and general. The 2024 Form 990 reported $658,065 in CEO compensation (Steven Weil, who resigned in July 2025) and $397,925 for the National Director (Nadav Padan, now CEO).

Where do FIDF donations go?

FIDF grants flow primarily to the Association for Israel's Soldiers (AFIS) in Israel, with additional funding to Sheba Medical Center (mental health), Nefesh B'Nefesh (lone soldiers), Zahav (disabled veterans), and the IMPACT! Scholarship Program (operated directly by FIDF).

What percentage of FIDF spending goes to programs?

In 2025, audited program services totaled $150,786,975 of $183,973,657 in total expenses — approximately 82%. Supporting services were 18%: fundraising $18,436,028 and management and general $14,750,654. Program grants alone, the portion granted to Israeli partner organizations and vendors, were $138,974,837.

What is FIDF's Charity Navigator rating?

Four stars, for 11 consecutive years — an honor achieved by approximately 2% of U.S. charities. Based on FY2024 data. See the full rating at Charity Navigator.

What is FIDF's EIN?

13-3156445. FIDF is a 501(c)(3) tax-exempt organization.

Are FIDF donations tax deductible?

Yes. FIDF is a 501(c)(3) organization. Charitable contributions are tax-deductible to the extent permitted by law.

Who runs FIDF?

As of mid-2026, the Chief Executive Officer is Maj. Gen. (Res.) Nadav Padan, a retired Israeli general who previously served as National Director. Executive Vice President is Jeremy Chwat and Chief Financial Officer is Eli Srulowitz, who signs FIDF's IRS filings as Alan Srulowitz. The board chairman is Fred Distenfeld; Wendy Moskowitz is National Vice Chairman and Tim Levart is Treasurer. Dr. Nily Falic, Peter Weintraub, Larry J. Hochberg and Arthur Stark are chairpersons emeritus. Former chairman Morey Levovitz and former CEO Steven Weil both resigned in July 2025. The board has 59 voting members.

Is FIDF the only organization authorized to raise money for IDF soldiers?

FIDF describes itself as the official U.S. organization authorized to collect charitable donations for IDF soldiers. However, when JTA asked the IDF spokesperson's office to confirm this in 2025, the military declined and referred questions to the Association for Israel's Soldiers. American Friends of LIBI claims equivalent authorization. Multiple other charities also raise funds for soldiers.

Primary Documents

Audited financial statements — Grant Thornton LLP, unmodified opinions:

IRS Form 990 filings — EIN 13-3156445:

FIDF disclosures and governance:

Third-party evaluators:

Sources and Methodology

Every 2025 figure in this analysis has been reconciled line by line against the Grant Thornton audited financial statements. 2024 and 2023 comparatives are drawn from the corresponding audited filings, not from the 990s, which are prepared on a different basis and report different totals. No figures are estimated or interpolated.

Audited figures and FIDF's self-reported disclosures are labeled separately throughout. The emergency campaign totals — $250 million committed, $242 million raised, $159 million transferred, $91 million scheduled through 2029 — appear nowhere in the audited statements and are FIDF's own reporting.

Program categories used in this analysis are noted where they differ from the audit's own three-category presentation; the reconciliation is shown in full in the methodology note above. Where FIDF's self-reported "$133 million in total 2025 support" differs from the audited $138,974,837 in program grants, this reflects definitional differences; both are presented as reported.

Reporting on the July 2025 leadership changes and on FIDF's exclusivity claim draws on Jewish Telegraphic Agency coverage, July–August 2025. This page will be updated with future filings, the 2025 Form 990 when available, and leadership changes as they occur.

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