Lawrence M & Kerin C Magdovitz Foundation
- Assets
- $2.0m
- Revenue
- $892.4k
- Investments
- $904.6k
- Employees
- 0
- Location
- Cordova, TN
- Founding
- 06/2015
- Data as of
- 12/2023
- EIN
- 47-2122518
Organization Overview
Lawrence M & Kerin C Magdovitz Foundation is located in Cordova, TN. The organization was established in 2015. 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. Lawrence M & Kerin C Magdovitz 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 12/2023, Lawrence M & Kerin C Magdovitz Foundation generated $892.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $834.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Lawrence M & Kerin C Magdovitz Foundation has awarded 61 individual grants totaling $1,258,670. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawremce M Magdovitz II President | 0 | $0 | |
Bethe Ann Mack Director | 0 | $0 | |
Nouth Magdovitz Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $819,800 |
| Interest on Savings | $2,888 |
| Dividends & Interest | $13,162 |
| Net Rental Income | -$106,857 |
| Net Gain on Sale of Assets | -$27,814 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $892,446 |
| 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 | $33,652 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $157,615 |
| Total operating and administrative expenses | $191,267 |
| Contributions, gifts, grants paid | $643,512 |
| Total expenses and disbursements | $834,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,376 |
| Savings and temporary cash investments | $0 |
| 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 | $474,373 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $563,270 |
| Other assets | $1 |
| Total assets | $2,038,631 |
| 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 | $119,474 |
| Total liabilities | $119,474 |
Grants Awarded
Over the last fiscal year, Lawrence M & Kerin C Magdovitz Foundation has awarded $643,512 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
LAUSANNE COLLEGIATE SCHOOL PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $500,000 |
MEMPHIS INNER CITY RUGBY PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $2,500 |
BOSTON UNIVERSITY PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $100,000 |
WEST TENNESSEE STATE GUARD ASSOC PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $3,912 |
WREG PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $9,600 |
PHOENIX CHAPEL AME CHURCH PURPOSE: TO FURTHER THE GROWTH AND DEVELOPEMENT, EDUCATION, AND FINANCIAL SUPPORT OF VARIOUS CHARITIES | $7,500 |