Mp Foundation
- Assets
- $818.8k
- Revenue
- $280.6k
- Investments
- $815.5k
- Employees
- 0
- Location
- Corona Del Mar, CA
- Founding
- 05/2017
- Data as of
- 11/2023
- EIN
- 37-1845373
Organization Overview
Mp Foundation is located in Corona Del Mar, CA. The organization was established in 2017. 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. MP 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 11/2023, MP Foundation generated $280.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $57.8k during the year ending 11/2023. While expenses have increased by 7.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan D Palevsky President/ceo As Needed | 0 | $0 | |
Lindsay M Palevsky Secretary/cfo As Needed | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $247,169 |
| Interest on Savings | $0 |
| Dividends & Interest | $19,406 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,014 |
| Capital Gain Net Income | $14,014 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $280,589 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $155 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $542 |
| Total operating and administrative expenses | $7,797 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $57,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,247 |
| 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 | $815,534 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $818,781 |
| 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, Mp Foundation has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ICAHN SCHOOL OF MEDICINE PURPOSE: OPERATIONAL SUPPORT | $25,000 |
CEDAR-SINAI MEDICAL CENTER PURPOSE: OPERATIONAL SUPPORT | $25,000 |