Magaro Family Foundation Inc
- Assets
- $29.2m
- Revenue
- $95.5k
- Investments
- $28.4m
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 10/2015
- Data as of
- 12/2022
- EIN
- 46-1558048
Organization Overview
Magaro Family Foundation Inc is located in Danbury, CT. The organization was established in 2015. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Magaro Family 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 12/2022, Magaro Family Foundation Inc generated $95.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (58.4%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Magaro Family Foundation Inc has awarded 61 individual grants totaling $19,204,539. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS
DONATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Magaro Director | 0 | $0 | |
Al P Trebing ESQ Secretary | 0 | $0 | |
Diviya Magaro President/tr | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,781 |
| Dividends & Interest | $79,235 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,505 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $95,521 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $7,196 |
| Contributions, gifts, grants paid | $1,341,200 |
| Total expenses and disbursements | $1,348,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $877,813 |
| 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 | $28,361,583 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $29,239,396 |
| 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, Magaro Family Foundation Inc has awarded $1,341,200 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
PROOF SCHOOL PURPOSE: DONATION | $125,000 |
RADCLIFFE INSTITUTE PURPOSE: DONATION | $10,000 |
VENDANTA SOCIETY OF NORTH TEXAS PURPOSE: DONATION | $1,200 |
MARIN COUNTY FOOD BANK PURPOSE: DONATION | $25,000 |
UCSF FOUNDATION PURPOSE: DONATION | $50,000 |
UNIVERSITY OF AUSTIN PURPOSE: DONATION | $1,100,000 |