Magnon Foundation
- Assets
- $4.7m
- Revenue
- $67.3k
- Investments
- $4.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 09/2005
- Data as of
- 12/2023
- EIN
- 20-3290595
Organization Overview
Magnon Foundation is located in Wilmington, DE. The organization was established in 2005. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Magnon 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 12/2023, Magnon Foundation generated $67.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (40.6%) each year. All expenses for the organization totaled $261.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Magnon Foundation has awarded 14 individual grants totaling $782,525. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE PAGE 12 PART XVI-B.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deanna Magnon Dir, Treas | 1 | $0 | |
David C Stapley Dir, Pres | 1 | $0 | |
Dennis Wagner Dir, Sec | 1 | $0 | |
Philip Yanni Dir, VP | 1 | $0 | |
Jillian Yocum Dir, VP | 1 | $0 | |
Scott K Yocum Dir, VP | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,841 |
| Dividends & Interest | $103,217 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$46,190 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $7,430 |
| Total Revenue | $67,298 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,145 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $23,495 |
| Total operating and administrative expenses | $47,654 |
| Contributions, gifts, grants paid | $213,937 |
| Total expenses and disbursements | $261,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $182,924 |
| 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 | $53,024 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $500,000 |
| Total assets | $4,700,685 |
| 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, Magnon Foundation has awarded $213,937 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY INVESTMENTS CHARITABLE GIFT FUND PURPOSE: MAGNON FOUNDATION DONOR ADVISOR FUND | $196,100 |
PALM SPRINGS INTERNATIONAL FILM SOCIETY PURPOSE: CHARITABLE EVENT | $10,000 |
BIG BROTHERS BIG SISTERS OF ORANGE COUNTY AND THE PURPOSE: 2023 SEASON TICKETS FOR LOS ANGELES ANGELS (IN-KIND GRANT - SEE GENERAL EXPLANATION) | $7,837 |