Magowan Family Foundation Inc
- Assets
- $1.1m
- Revenue
- -$21.3k
- Investments
- $861.7k
- Employees
- 0
- Location
- Mt Kisco, NY
- Founding
- 10/1959
- Data as of
- 12/2022
- EIN
- 13-6085999
Organization Overview
Magowan Family Foundation Inc is located in Mt Kisco, NY. 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. Magowan 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.
Since 2014, Magowan Family Foundation Inc has awarded 215 individual grants totaling $807,280. 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 |
|---|---|---|---|
Mark Magowan President | 10 | $0 | |
Nina Magowan Vice President-Finance | 5 | $0 | |
Olivia Magowan Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $121 |
| Dividends & Interest | $27,133 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$48,534 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$21,280 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,525 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,420 |
| Total operating and administrative expenses | $13,945 |
| Contributions, gifts, grants paid | $67,325 |
| Total expenses and disbursements | $81,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $203,581 |
| 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 | $861,673 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,721 |
| Total assets | $1,070,975 |
| 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 | $5,000 |
| Total liabilities | $5,000 |
Grants Awarded
Over the last fiscal year, Magowan Family Foundation Inc has awarded $67,325 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF AMERICAN POETS PURPOSE: GENERAL | $1,000 |
ACHILLES INTERNATIONAL PURPOSE: GENERAL | $5,000 |
AMERICAN PATRONS OF THE TATE GALLERY PURPOSE: GENERAL | $150 |
BATH & TENNIS HISTORIC BUILDING PURPOSE: GENERAL | $2,500 |
CHAPIN SCHOOL PURPOSE: GENERAL | $1,000 |
CITIZENS COMMITTEE FOR NYC PURPOSE: GENERAL | $1,000 |