Magale Foundation
- Assets
- $2.3m
- Revenue
- $145.3k
- Investments
- $2.2m
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 02/1959
- Data as of
- 11/2022
- 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 11/2022, Magale Foundation generated $145.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $184.3k during the year ending 11/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Magale Foundation has awarded 80 individual grants totaling $742,000. 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 |
|---|---|---|---|
Reese Lewis Vice President | 0 | $0 | |
Michael Epley 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 | $49,103 |
| Net Rental Income | $26,137 |
| Net Gain on Sale of Assets | $62,720 |
| Capital Gain Net Income | $62,720 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,316 |
| Total Revenue | $145,276 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,517 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,637 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $240 |
| Total operating and administrative expenses | $29,339 |
| Contributions, gifts, grants paid | $155,000 |
| Total expenses and disbursements | $184,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,517 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $174 |
| 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 | $1,680 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,156,600 |
| Net Land, buildings, and equipment | $92,350 |
| Other assets | $487 |
| Total assets | $2,323,808 |
| 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, Magale Foundation has awarded $155,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
NW STATE UNIVERSITY FOUNDATION PURPOSE: SCHOOL OF CREATIVE AND PERFORMING ARTS - MAGALE SCHOLARSHIP FUND | $25,000 |
BOSSIER PARISH COMMUNITY COLLEGE FO PURPOSE: SCHOLARSHIP FUND | $25,000 |
Magnolia, AR PURPOSE: SCHOLARSHIP FUND | $25,000 |
LSUS FOUNDATION PURPOSE: JOHN & JOANN MAGALE ENDOWED SCHOLARSHIP | $15,000 |
BOYS GIRLS CLUB OF MAGNOLIA INC PURPOSE: CAPITAL IMPROVEMENTS TO BOYS AND GIRLS CLUB FACILITY | $10,000 |
Magnolia, AR PURPOSE: GENERAL FUND FOR EDUCATIONAL EXPENSES FOR ARTS, THEATRE , FILM , MUSIC PROGRAMS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Endowment Inc Houston, TX | $2,683,938,862 | $265,655,014 |
J E And L E Mabee Foundation Inc Midland, TX | $754,241,961 | $130,151,698 |
Rainwater Charitable Foundation Fort Worth, TX | $856,887,520 | $46,265,349 |
Kinder Foundation Houston, TX | $141,449,180 | $60,608,944 |
Rees-Jones Foundation Dallas, TX | $0 | $116,553,438 |
Meadows Foundation Incorporated Dallas, TX | $777,502,701 | $134,484,682 |
Rob And Melani Walton Foundation Bentonviille, AR | $541,056,642 | $120,568,910 |
Amon G Carter Foundation Fort Worth, TX | $464,730,205 | $54,557,293 |
Wend Ii Inc Bentonville, AR | $174,655,774 | $207,303,582 |
Ila-West Gulf Maritime Association Inc Royalty Trust Fund No 1 Houston, TX | $56,716,364 | $36,179,083 |
David Weekley Family Foundation Houston, TX | $132,693,267 | $39,507,010 |
T L L Temple Foundation Lufkin, TX | $464,501,486 | $44,070,137 |