Magale Foundation
- Assets
- $2.5m
- Revenue
- $314.7k
- Investments
- $2.2m
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 02/1959
- Data as of
- 11/2023
- EIN
- 72-6025096
Organization Overview
Magale Foundation is located in Shreveport, LA. The organization was established in 1959. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Magale 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 11/2023, Magale Foundation generated $314.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $172.6k during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Magale Foundation has awarded 76 individual grants totaling $742,700. 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 |
|---|---|---|---|
Michael Epley President | 0 | $0 | |
Reese Lewis Vice President | 0 | $0 | |
Homer F Greer Jr Secretary/treas | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $63,681 |
| Net Rental Income | $31,961 |
| Net Gain on Sale of Assets | $212,301 |
| Capital Gain Net Income | $212,301 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,742 |
| Total Revenue | $314,685 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,012 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,790 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $335 |
| Total operating and administrative expenses | $26,897 |
| Contributions, gifts, grants paid | $145,700 |
| Total expenses and disbursements | $172,597 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,289 |
| Savings and temporary cash investments | $0 |
| 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 | $2,174,768 |
| Net Land, buildings, and equipment | $92,350 |
| Other assets | $487 |
| Total assets | $2,465,894 |
| 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 | $2,360 |
| Total liabilities | $2,360 |
Grants Awarded
Over the last fiscal year, Magale Foundation has awarded $145,700 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
THE ARC OF CADDO-BOSSIER PURPOSE: GENERAL FUND | $7,500 |
BIOMEDICAL RESEARCH FOUNDATION OF N PURPOSE: HELPS UNDERWRITE EDUCATION INTERNSHIP FOR HS SENIORS IN SCIENCE AND MEDICINE | $8,000 |
BOSSIER PARISH COMMUNITY COLLEGE FO PURPOSE: JOHN AND JOANNA MAGALE ENDOWED WORKFORCE SCHOLARSHIP IN ALLIED HEALTH | $25,000 |
BOYS GIRLS CLUB OF MAGNOLIA INC PURPOSE: CAPITAL IMPROVEMENTS TO BOYS AND GIRLS CLUB FACILITY | $10,000 |
CENTENARY COLLEGE OF LA FOUNDATION PURPOSE: MAGALE LIBRARY EXPENSES | $5,000 |
LSUS FOUNDATION PURPOSE: JOHN & JOANN MAGALE ENDOWED SCHOLARSHIP | $15,000 |