Magnetar Capital Foundation
- Assets
- $426.1k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Evanston, IL
- Founding
- 12/2012
- Data as of
- 12/2021
- EIN
- 46-0807550
Organization Overview
Magnetar Capital Foundation is located in Evanston, IL. The organization was established in 2012. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnetar Capital 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, Magnetar Capital Foundation generated $1.7m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $467.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Magnetar Capital Foundation has awarded 123 individual grants totaling $2,301,171. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF AN EDUCATIONAL PROGRAM CALLED FINEDGE, FORMERLY KNOWN AS MAGNETAR YOUTH ACADEMY. FINEDGE EDUCATES YOUTH ABOUT THE BASICS OF PERSONAL FINANCE AND INVESTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alec N Litowitz President, Director | 1 | $0 | |
Barbara Bernstein Secretary | 1 | $0 | |
Ross Laser Director | 1 | $0 | |
David Snyderman Director | 1 | $0 | |
Naomi Gunasekaran Treasurer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Berlin Rosen Ltd | 12/30/21 | $100,000 |
Due East Partners Llc | 12/30/21 | $68,200 |
Steven Botsoe | 12/30/21 | $50,750 |
Foresight Law Policy Pllc | 12/30/21 | $60,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,664,305 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16,537 |
| Total Revenue | $1,680,842 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $50 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $47,415 |
| Total operating and administrative expenses | $435,218 |
| Contributions, gifts, grants paid | $32,671 |
| Total expenses and disbursements | $467,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,810 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $9,259 |
| 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 | $13,995 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $426,064 |
| Accounts payable and accrued expenses | $33,453 |
| Grants payable | $994,479 |
| 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 | $1,027,932 |
Grants Awarded
Over the last fiscal year, Magnetar Capital Foundation has awarded $1,161,424 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: COLLABORATION GRANTS - UNIVERSITY OF CHICAGO | $1,125,839 |
Evanston, IL PURPOSE: CHARITY DONATION - GENERAL SUPPORT | $10,000 |
Evanston, IL PURPOSE: CHARITY DONATION - GENERAL SUPPORT | $2,500 |
Oakland, CA PURPOSE: CHARITY DONATION - GENERAL SUPPORT | $2,500 |
Chicago, IL PURPOSE: CHARITY DONATION - GENERAL SUPPORT | $2,500 |
King Of Prussia, PA PURPOSE: CHARITY DONATION - GENERAL SUPPORT | $2,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Magnetar Capital Foundation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Scott A Nathan Charitable Tr Boston, MA PURPOSE: GENERAL PURPOSE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |