Mgn Foundation Tr
- Assets
- $1.4m
- Revenue
- $83.3k
- Investments
- $1.4m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 06/2005
- Data as of
- 12/2023
- EIN
- 25-6873635
Organization Overview
Mgn Foundation Tr is located in Wilmington, DE. The organization was established in 2005. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Mgn Foundation Tr 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 12/2023, Mgn Foundation Tr generated $83.3k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $147.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mgn Foundation Tr has awarded 171 individual grants totaling $392,600. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Langan Dir | 1 | $0 | |
Jeremy Leonard Dir | 1 | $0 | |
Misty Leonard Dir, Pres | 1 | $0 | |
Robert A Nappi Trustee | 1 | $0 | |
Kyle Smith Dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11 |
| Dividends & Interest | $42,349 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $40,940 |
| Capital Gain Net Income | $40,933 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $83,300 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $22 |
| Taxes | $627 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $23,029 |
| Total operating and administrative expenses | $42,192 |
| Contributions, gifts, grants paid | $105,200 |
| Total expenses and disbursements | $147,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,970 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,408,342 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Mgn Foundation Tr has awarded $105,200 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS BOOKS PURPOSE: BOOK BUNDLES FOR LOW INCOME CHILDREN | $1,000 |
ALZHEIMERS COMMUNITY CARE INC PURPOSE: SPECIALIZED ALZHEIMER'S DAY CARE FOR VETERANS | $2,000 |
BATISTE PROJECT PURPOSE: THE BATISTE PROJECT | $2,000 |
BOULDER EMERGENCY SQUAD BOULDER COLORADO PURPOSE: EMERGENCY AND RESCUE SERVICES IN BOULDER COUNTY | $1,000 |
BOYS AND GIRLS CLUB OF BURLINGTON INC PURPOSE: THE EARLY PROMISE PROGRAM | $3,000 |
BUTTONWOOD PARK ZOOLOGICAL SOCIETY INC PURPOSE: GENERAL & UNRESTRICTED | $5,000 |