Mg2 Foundation
- Assets
- $1.1m
- Revenue
- $129.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Seattle, WA
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-2377082
Organization Overview
Mg2 Foundation is located in Seattle, WA. The organization was established in 2014. 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. Mg2 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 12/2021, Mg2 Foundation generated $129.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $141.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Mg2 Foundation has awarded 17 individual grants totaling $689,069. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Lee Executive Director | 0.5 | $0 | |
Mitchell Smith Chair | 1 | $0 | |
Russ Hazzard Director | 1 | $0 | |
Wendy Unzelman Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $128,573 |
| Interest on Savings | $604 |
| Dividends & Interest | $0 |
| 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 | $129,177 |
| 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 | $70 |
| Total operating and administrative expenses | $70 |
| Contributions, gifts, grants paid | $141,074 |
| Total expenses and disbursements | $141,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,115,499 |
| 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 | $1,115,499 |
| 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, Mg2 Foundation has awarded $141,074 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SUSAN G KOMEN FOUNDATION - PUGET SOUND PURPOSE: TO FUND SUSAN G. KOMEN - PUGET SOUND IN THEIR MISSION TO PROVIDE MAMMOGRAMS FOR LOW-INCOME,UNDERSERVED WOMEN IN WASHINGTON STATE. | $128,574 |
Bellevue, WA PURPOSE: SUPPORTING THE ARTS IN THE BELLEVUE, WASHINGTON AREA | $10,000 |
SEATTLE ARCHITECTURE FOUNDATION PURPOSE: SUPPORTING THE ARCHITECTURE, DESIGN AND HISTORY OF THE SEATTLE AREA. | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amazonsmile Foundation Seattle, WA | $32,322,159 | $94,115,479 |
Gates Philanthropy Partners Seattle, WA | $58,428,866 | $30,155,547 |
Paul G Allen Family Foundation Seattle, WA | $0 | $45,218,114 |
Friday Foundation Medina, WA | $32,805,393 | $16,602 |
Rasmuson Foundation Anchorage, AK | $851,377,242 | $102,826,089 |
J A & Kathryn Albertson Foundation Inc Boise, ID | $0 | $34,850,275 |
Intel Foundation Hillsboro, OR | $50,440,341 | $47,262 |
Roots And Wings Foundation Inc Seattle, WA | $315,937,030 | $249,888,695 |
Schultz Family Foundation Seattle, WA | $463,519,339 | $158,807,992 |
The Lemelson Foundation Portland, OR | $488,510,181 | $33,726,014 |
Norcliffe Foundation Seattle, WA | $18,121,640 | $25,144,033 |
Wilburforce Foundation Seattle, WA | $159,747,435 | $25,133,506 |