Mg Education Foundation
- Assets
- $306.2k
- Revenue
- $27.7k
- Investments
- $292.9k
- Employees
- 0
- Location
- Alamo, CA
- Founding
- 02/2010
- Data as of
- 08/2022
- EIN
- 27-1264341
Organization Overview
Mg Education Foundation is located in Alamo, CA. The organization was established in 2010. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mg Education 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 08/2022, Mg Education Foundation generated $27.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $27.7k during the year ending 08/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATION TO UNIVERSITY OF ARIZONA
DONATION TO UC BERKELEY
DONATION TO CLAREMONT MCKENNA COLLEGE
DONATION TO AMERICAN ONLINE GIVING FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Attiyeh CEO | 0 | $0 | |
Mei Yu CFO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $27,693 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,693 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $338 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,649 |
| Printing and publications | $0 |
| Other expenses | $8,754 |
| Total operating and administrative expenses | $11,741 |
| Contributions, gifts, grants paid | $15,923 |
| Total expenses and disbursements | $27,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,275 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $306,156 |
| Accounts payable and accrued expenses | $18,761 |
| 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 | $18,761 |
Grants Awarded
Over the last fiscal year, Mg Education Foundation has awarded $15,923 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF ARIZONA PURPOSE: EDUCATIONAL | $6,000 |
Newark, DE PURPOSE: CHARITABLE | $5,700 |
Claremont, CA PURPOSE: EDUCATIONAL | $2,094 |
UC BERKELEY PURPOSE: EDUCATIONAL | $1,175 |
SF OPERA PURPOSE: CHARITABLE | $750 |
WIKIMEDIA FOUNDATION PURPOSE: CHARITABLE | $104 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Global Sports Development Los Angeles, CA | $28,471,591 | $19,690,244 |
Ressler Gertz Foundation Encino, CA | $41,227,955 | $63,459,065 |
Basic Fund Oakland, CA | $23,987,500 | $9,637,782 |
The Roddenberry Foundation Sherman Oaks, CA | $90,372,865 | $11,204,960 |
Scholarship Foundation Of Santa Barbara Santa Barbara, CA | $64,291,323 | $9,987,149 |
Bettye Poetz Ferguson Foundation San Francisco, CA | $18,979,772 | $3,373,943 |
Arizona Private Education Scholarship Fund Inc Scottsdale, AZ | $4,340,429 | $7,500,005 |
Gilead Sciences Foundation Foster City, CA | $126,155,891 | $168,265,797 |
Draper Foundation San Mateo, CA | $195,149,192 | $78,341,825 |
School Choice Arizona Inc Chandler, AZ | $10,615,298 | $8,926,972 |
College Success Arizona Phoenix, AZ | $19,037,884 | $6,349,882 |
Orange Coast College Foundation Costa Mesa, CA | $45,211,375 | $13,270,788 |