Magistro Foundation Inc
- Assets
- $7.9m
- Revenue
- $202.4k
- Investments
- $7.8m
- Employees
- 0
- Location
- Pennington, NJ
- Founding
- 12/2002
- Data as of
- 12/2022
- EIN
- 68-0527894
Organization Overview
Magistro Foundation Inc is located in Pennington, NJ. The organization was established in 2002. 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. Magistro 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, Magistro Foundation Inc generated $202.4k 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 (48.0%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Magistro Foundation Inc has awarded 101 individual grants totaling $3,760,500. 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
TO PROVIDE FINANCIAL SUPPORT TO ORGANIZATIONS IN THE FIELDS OF HEALTH AND EDUCATION. THE ORGANIZATION PROVIDED FIVE ORGANIZATIONS WITH GRANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paulette Simpson President | 2 | $0 | |
Julia Baumgaertner Secretary | 2 | $2,500 | |
Kevin Simpson Treasurer | 1 | $2,500 | |
Elise Magistro Director | 0 | $0 | |
Maria Magistro-Sherry Director | 0 | $0 | |
Ian Simpson Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $160,716 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $41,717 |
| Capital Gain Net Income | $41,717 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8 |
| Total Revenue | $202,441 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $22,707 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,582 |
| Total operating and administrative expenses | $65,134 |
| Contributions, gifts, grants paid | $1,005,000 |
| Total expenses and disbursements | $1,070,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,453 |
| Savings and temporary cash investments | $71,462 |
| 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 | $7,835,254 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,923,169 |
| 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, Magistro Foundation Inc has awarded $1,005,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CYSTINOSIS RESEARCH NETWORK INC PURPOSE: UNRESTRICTED GENERAL | $2,500 |
ARTHUR ASHE INSTITUTE FOR URBAN HEALTH PURPOSE: UNRESTRICTED GENERAL | $25,000 |
FOUNDATION FOR PHYSICAL THERAPY RESEARCH PURPOSE: UNRESTRICTED GENERAL | $50,000 |
POMONA HOPE PURPOSE: UNRESTRICTED GENERAL | $25,000 |
SANTA YNEZ VALLEY BOTANIC GARDEN FDN PURPOSE: UNRESTRICTED GENERAL | $5,000 |
CYSTINOSIS RESEARCH FOUNDATION PURPOSE: UNRESTRICTED GENERAL | $240,000 |