Magline Inc Charitable Trust
- Assets
- $166.5k
- Revenue
- $10.0k
- Investments
- $158.1k
- Employees
- 0
- Location
- Standish, MI
- Founding
- 11/1959
- Data as of
- 12/2023
- EIN
- 38-6082038
Organization Overview
Magline Inc Charitable Trust is located in Standish, MI. The organization was established in 1959. 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. Magline Inc Charitable Trust 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, Magline Inc Charitable Trust generated $10.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $18.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $460 |
| Dividends & Interest | $4,290 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,291 |
| Capital Gain Net Income | $5,291 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,041 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $217 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60 |
| Total operating and administrative expenses | $2,113 |
| Contributions, gifts, grants paid | $16,500 |
| Total expenses and disbursements | $18,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,402 |
| 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 | $158,067 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $166,469 |
| 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, Magline Inc Charitable Trust has awarded $16,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BAY FUTURE INC PURPOSE: GENERAL FUND | $1,500 |
STANDISH-STERLING CENTRAL HIGH SCHOOL ROBOTICS PURPOSE: GENERAL FUND | $10,000 |
LEUKEMIA & LYMPHOMA SOCIETY PURPOSE: GENERAL FUND | $5,000 |