Magc Foundation
- Assets
- $81.8k
- Revenue
- $8.1k
- Investments
- $77.3k
- Employees
- 0
- Location
- Glenwood, IA
- Founding
- 02/1999
- Data as of
- 12/2022
- EIN
- 47-0816746
Organization Overview
Magc Foundation is located in Glenwood, IA. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Magc 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 12/2022, Magc Foundation generated $8.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 47.8% each year . All expenses for the organization totaled $10.5k during the year ending 12/2022. While expenses have increased by 6.0% 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlotte A Skallerup Prs/chmn/dir | 0.25 | $0 | |
Kathryn Skallerup Dean Sec/treas/dir | 0 | $0 | |
John G Skallerup Vice Chmn/dir | 0 | $0 | |
Rebecca Skallerup Gross Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,347 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,787 |
| Capital Gain Net Income | $4,787 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,134 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $74 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $788 |
| Total operating and administrative expenses | $2,303 |
| Contributions, gifts, grants paid | $8,150 |
| Total expenses and disbursements | $10,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,966 |
| Savings and temporary cash investments | $1,587 |
| 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 | $81,833 |
| 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, Magc Foundation has awarded $8,150 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
GLENWOOD FIRE DEPT PURPOSE: GENERAL | $2,000 |
ALGONA IA VOLUNTEER FIRE DEPT PURPOSE: GENERAL | $2,000 |
HALSEY RURAL FIRE DISTRICT PURPOSE: GENERAL | $1,150 |
PURDUM RURAL FIRE DEPT PURPOSE: GENERAL | $1,150 |
GLENWOOD SENIOR CENTER PURPOSE: GENERAL | $1,000 |
PLANNED PARENTHOOD PURPOSE: GENERAL | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Exelon Foundation Chicago, IL | $116,558,021 | $16,716,086 |
Highlands Foundation Inc Madison, WI | $16,807,622 | $1,089,528 |
Rockwell Automation Charitable Corporation Milwaukee, WI | $6,137,007 | $10,007,891 |
The Green Fern Foundation Minneapolis, MN | $108,921,285 | $8,489,620 |
Ascension Providence Foundation St Louis, MO | $25,786,185 | $4,059,548 |
Kehe Cares Foundation Inc Naperville, IL | $5,804,063 | $7,449,461 |
G Carl Ball Family Foundation West Chicago, IL | $40,772,718 | $1,501,347 |
Apex Oil Company Charitable Foundation Clayton, MO | $5,552,503 | $420,890 |
Andersen Corporate Foundation Bayport, MN | $0 | $11,597,422 |
Telligen Community Initiative West Des Moines, IA | $44,005,034 | $3,901,747 |
Northern Trust Foundation Chicago, IL | $8,176,518 | $7,000,250 |
Wisconsin Public Service Foundation Inc Green Bay, WI | $36,455,212 | $2,413,868 |