Magpie Foundation
- Assets
- $398.1k
- Revenue
- $59.0k
- Investments
- $363.8k
- Employees
- 0
- Location
- Newtown, PA
- Founding
- Data as of
- 12/2022
- EIN
- 85-4015248
Organization Overview
Magpie Foundation is located in Newtown, PA. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magpie 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, Magpie Foundation generated $59.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (69.7%) each year. All expenses for the organization totaled $25.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO CHARITABLE ORGANIZATIONS SELECTED BY TRUSTEE
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $169 |
| Dividends & Interest | $2,320 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $56,523 |
| Capital Gain Net Income | $56,523 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $59,012 |
| 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 | $3,203 |
| Contributions, gifts, grants paid | $22,000 |
| Total expenses and disbursements | $25,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,281 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $398,092 |
| 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, Magpie Foundation has awarded $22,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FRACTURED ATLAS INC PURPOSE: CHARITABLE DONATION | $5,500 |
CENTER FOR CREATIVE WORKS PURPOSE: COMMUNITY SUPPORT | $5,500 |
COMMUNITY GARDEN BRISTOL BOROUGH PURPOSE: COMMUNITY SUPPORT | $5,500 |
TRENTON A TEAM PURPOSE: COMMUNITY SUPPORT | $5,500 |