Mgg Foundation
- Assets
- $2.7m
- Revenue
- -$86.6k
- Investments
- $2.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/2006
- Data as of
- 12/2021
- EIN
- 20-4212751
Organization Overview
Mgg Foundation is located in New York, NY. The organization was established in 2006. 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. Mgg Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Mgg Foundation has awarded 117 individual grants totaling $499,255. 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 |
|---|---|---|---|
Meredith M Polivy President | 0 | $0 | |
Philip L Milstein Vice President | 0 | $0 | |
Peter Grossman Treasurer / Sec'y | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $400,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $6,757 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$493,354 |
| Capital Gain Net Income | $497,896 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$86,597 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $117 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,234 |
| Total operating and administrative expenses | $3,351 |
| Contributions, gifts, grants paid | $90,000 |
| Total expenses and disbursements | $93,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,029 |
| 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 | $2,645,860 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,699 |
| Total assets | $2,713,588 |
| 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 | $16,361 |
| Total liabilities | $16,361 |
Grants Awarded
Over the last fiscal year, Mgg Foundation has awarded $90,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: PUBLIC CHARITY | $50,000 |
New York, NY PURPOSE: PUBLIC CHARITY | $15,000 |
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK PURPOSE: PUBLIC CHARITY | $10,000 |
MARCH OF DIMES PURPOSE: PUBLIC CHARITY | $5,000 |
New York, NY PURPOSE: PUBLIC CHARITY | $3,000 |
New York, NY PURPOSE: PUBLIC CHARITY | $1,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mgg Foundation has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Plm Foundation New York, NY PURPOSE: PUBLIC CHARITY | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Healthcare Foundation Of New Jersey Inc Millburn, NJ | $201,281,752 | $11,925,991 |
Tr Ua 06162003 New York, NY | $24,153,189 | $17,543,623 |
Linlundh Foundation Huntingdon Valley, PA | $26,974,319 | $5,576,892 |
Hamilton Family Charitable Trust Wayne, PA | $141,914,105 | $43,786,350 |
Daniel B And Florence E Green Foundation Conshohocken, PA | $179,390,509 | $18,946,870 |
Price Family Foundation Inc New York, NY | $4,922,654 | $6,599,359 |
Seed The Dream Foundation Gladwyne, PA | $47,208,358 | $1,088,502 |
Hunt Street Fund Inc Needham, MA | $102,244,956 | $9,516,120 |
Virginia B Toulmin Charitable Foundation Iii 20-102080246164 New York, NY | $0 | $3,507,979 |
Foundation For Excellence In Higher Education Inc Princeton, NJ | $10,905,740 | $10,645,198 |
Margaret A Nagel Tr Uw Art 2 Jericho, NY | $960,283 | $58,879 |
James L Vincent Foundation Boston, MA | $11,098,257 | $1,513,039 |