Magaro Family Foundation Inc
- Assets
- $30.5m
- Revenue
- $229.9k
- Investments
- $29.3m
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 10/2015
- Data as of
- 12/2021
- EIN
- 46-1558048
Organization Overview
Magaro Family Foundation Inc is located in Danbury, CT. The organization was established in 2015. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Magaro Family Foundation Inc 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, Magaro Family Foundation Inc generated $229.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (33.6%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Magaro Family Foundation Inc has awarded 61 individual grants totaling $18,496,079. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE GIVING - THE FOUNDATION MAKES CHARITABLE DONATIONS TO PUBLIC CHARITIES TO HELP THESE ORGANIZATIONS FURTHER THEIR OWN EXEMPT CHARITABLE ACTIVITIES AND PROGRAMS.
THE MANAGEMENT AND ADMINISTRATIVE COSTS INCURRED TO OPERATE THE FOUNDATION DIRECTLY SUPPORT AND ARE NECESSARY TO CARRY OUT THE CHARITABLE PROGRAMS AND ACTIVITIES SUPPORTED BY THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diviya Magaro President/tr | 0 | $0 | |
Alex Magaro Director | 0 | $0 | |
Al P Trebing ESQ Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $127,509 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $102,420 |
| Capital Gain Net Income | $102,420 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $229,929 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $9,635 |
| Contributions, gifts, grants paid | $4,558,983 |
| Total expenses and disbursements | $4,568,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,150,974 |
| 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 | $29,326,728 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $30,477,702 |
| 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, Magaro Family Foundation Inc has awarded $4,558,983 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge, MA PURPOSE: DONATION | $4,341,783 |
PROOF SCHOOL PURPOSE: DONATION | $101,000 |
Los Angeles, CA PURPOSE: DONATION | $70,000 |
MARIN COUNTY FOOD BANK PURPOSE: DONATION | $25,000 |
MISES INSTITUTE PURPOSE: DONATION | $10,000 |
RADCLIFFE INSTITUTE PURPOSE: DONATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For The Public Interest Inc Boston, MA | $38,723,767 | $15,827,211 |
Rofeh Cholim Cancer Society Inc Brooklyn, NY | $24,523,868 | $22,653,682 |
Person To Person Inc Darien, CT | $8,508,315 | $15,004,932 |
Peter Schub Foundation New York, NY | $153,451 | $8,498,000 |
Queens College Special Projects Fund Inc Flushing, NY | $53,656,603 | $7,071,081 |
Global Impact Investing Network Inc New York, NY | $6,619,298 | $6,380,097 |
Tapfound Inc New York, NY | $4,933,878 | $7,053,619 |
Chief Executives For Corporate Purpose Inc New York, NY | $5,985,740 | $5,961,385 |
Sovereign Military Hospitaller Order Of St John Of Jerusalem Of New York, NY | $5,131,952 | $5,108,487 |
Magaro Family Foundation Inc Danbury, CT | $30,477,702 | $229,929 |
Datakind Brooklyn, NY | $7,052,955 | $2,773,630 |
Friends Of@raising The Village Incorporated New York, NY | $175,173 | $3,119,375 |