Magline Inc Charitable Trust
- Assets
- $174.7k
- Revenue
- $13.5k
- Investments
- $160.3k
- Employees
- 0
- Location
- Standish, MI
- Founding
- 11/1959
- Data as of
- 12/2021
- 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 12/2021, Magline Inc Charitable Trust generated $13.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 29.6% each year . All expenses for the organization totaled $10.5k during the year ending 12/2021. 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 | $1 |
| Dividends & Interest | $3,687 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,808 |
| Capital Gain Net Income | $9,808 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $13,496 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $330 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $168 |
| Total operating and administrative expenses | $2,284 |
| Contributions, gifts, grants paid | $8,200 |
| Total expenses and disbursements | $10,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,377 |
| 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 | $160,313 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $174,690 |
| 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 $8,200 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Standish, MI PURPOSE: GENERAL FUND | $5,000 |
BAY FUTURE INC PURPOSE: GENERAL FUND | $1,500 |
BOYS AND GIRLS CLUBS OF THE GREAT LAKES BAY REGION PURPOSE: GEN'L FUND | $1,500 |
STANDISH AREA CHAMBER OF COMMERCE PURPOSE: GENERAL FUND | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asante Foundation Inc South Bend, IN | $170,490,031 | $16,382,298 |
The Steve & Amy Van Andel Foundation Grand Rapids, MI | $111,040,892 | $8,504,096 |
Deborah Joy Simon Foundation Carmel, IN | $67,791,546 | $8,858,983 |
Hillier Family Foundation Akron, OH | $0 | $3,603,112 |
Wing Shadow Foundation Ada, MI | $89,908,464 | $23,772,931 |
Scripps-Howard Foundation Cincinnati, OH | $57,417,924 | $12,029,094 |
Albert J Weatherhead Estate Trust Uw Item Iv National City Bk Of Cle Mayfield Heights, OH | $171,110,624 | $12,657,241 |
Hummingbird Society Foundation Cincinnati, OH | $175,019 | $103,373 |
Carls Foundation Bloomfield Hills, MI | $120,507,770 | $14,280,001 |
The David And Carol Van Andel Family Foundation Grand Rapids, MI | $107,851,670 | $8,218,571 |
Christ Cares For Kids Foundation Traverse City, MI | $46,569,965 | $9,675,626 |
James J And Joan A Gardner Family Foundation Cincinnati, OH | $68,091,187 | $14,231,664 |