Magnolia Foundation

Organization Overview

Magnolia Foundation is located in Flushing, NY. The organization was established in 2010. 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. Magnolia Foundation 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, Magnolia Foundation generated $511.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $27.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Magnolia Foundation has awarded 21 individual grants totaling $982,033. 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)Compensation
Selig K Solomon
President
$0
David Z Solomon
Treasurer
$0

Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $162,989
Interest on Savings $156
Dividends & Interest $0
Net Rental Income$0
Net Gain on Sale of Assets $348,210
Capital Gain Net Income $348,210
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $511,355

Grants Awarded

Over the last fiscal year, Magnolia Foundation has awarded $24,451 in support to 2 organizations.

Grant RecipientAmount

JEWISH HERITAGE CENTER

PURPOSE: RELIGIOUS EDUCATION

$20,000

MISC QUALIFYING CONTRIBUTIONS UNDER 1000

PURPOSE: RELIGIOUS EDUCATION

$4,451
View Grant Profile

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