Michael Magro Foundation Inc
- Assets
- $277.8k
- Revenue
- $378.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Hicksville, NY
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 20-2280077
Organization Overview
Michael Magro Foundation Inc is located in Hicksville, NY. The organization was established in 2006. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael Magro Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Michael Magro Foundation Inc generated $378.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $436.8k during the year ending 12/2021. While expenses have increased by 38.8% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO REDUCE THE FINANCIAL HARDSHIP OF FAMILIES OF CHILDREN DIAGNOSED WITH CANCER AND OR BLOOD DISORDERS AND HELP THOSE CHILDREN THROUGH THEIR TREATMENT AND THEIR AFTER TREATMENT PHASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO REDUCE THE FINANCIAL HARDSHIP AND HELP EASE THE EMOTIONAL TURMOIL OF FAMILIES THAT HAVE A CHILD DIAGNOSED WITH CANCER AND OTHER NOT-FOR-PROFIT INSTITUTIONS AND FOUNDATIONS THAT DO THE SAME. ADDITIONALLY, THE PURCHASE OF MEDICAL EQUIPMENT SPECIFICALLY FOR THE TREATMENT OF CHILDREN WITH CANCER FOR INSTITUTIONS.
TO PROVIDE TWO SCHOLARSHIPS TO GRADUATING HIGH SCHOOL SENIORS GOING TO COLLEGE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Magro President | Officer | 0 | $0 |
Sharon Paternoster Secretary | Officer | 0 | $0 |
Terry Magro VP | Officer | 0 | $0 |
Linda Steinberg Treasurer | Officer | 0 | $0 |
Gina Bedell Trustee | Trustee | 0 | $0 |
Kenny Exler Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $302,901 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,809 |
| Total Program Service Revenue | $0 |
| Investment income | $151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $377,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,436 |
| Office expenses | $1,449 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $189 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,601 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,600 |
| Insurance | $10,506 |
| All other expenses | $0 |
| Total functional expenses | $436,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,902 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,912 |
| Total assets | $277,814 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $277,814 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $277,814 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Michael Magro Foundation Inc has recieved totaling $50,764.
| Awarding Organization | Amount |
|---|---|
The@anne And John Tatta Family Foundation Inc Oyster Bay, NY PURPOSE: GENERAL SUPPORT | $20,000 |
Dubose & Dorothy Heyward Memorial Fund Pittsburgh, PA PURPOSE: GENERAL OPERATING | $15,000 |
Gladys And Mildred Tomiak Foundation Inc Great Neck, NY PURPOSE: GENERAL PURPOSE | $12,500 |
Windhover Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED (SEE GENERAL EXPLANATION) | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $464 |
Annette And Anthony Albanese Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bny Mellon Charitable Gift Fund Boston, MA | $342,614,894 | $208,280,795 |
Keren Keshet-The Rainbow Foundation New York, NY | $212,134,789 | $28,921,665 |
Roswell Park Alliance Foundation Buffalo, NY | $159,422,911 | $37,424,046 |
World Of Giving Inc Spring Valley, NY | $6,086,190 | $25,054,815 |
Chapel & York Us Foundation Inc New York, NY | $7,715,489 | $28,773,311 |
Give Lively Foundation Inc New York, NY | $21,044,109 | $22,415,300 |
Greater Hartford Community Foundation Inc Hartford, CT | $8,414,279 | $22,150,705 |
Harlem Rbi Incorporated New York, NY | $85,587,058 | $22,268,250 |
Partnership Schools New York, NY | $64,379,139 | $24,282,663 |
Feeding Pennsylvania Lemoyne, PA | $10,818,120 | $21,841,545 |
Royal College Of Art Usa Inc New York, NY | $1,933,182 | $14,916,047 |
Imago Dei Fund Boston, MA | $57,020,766 | $29,637,241 |