Larry & Millie Magid Family Foundation
The Larry & Millie Magid Family Foundation is a private grantmaking foundation based in Miami, Florida. Established in 2017, it operates as a 501(c)(3) organization classified as a private foundation. The foundation is a non-operating foundation that makes contributions exclusively to preselected charitable organizations.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$7.6M
-0.3% YoY
Annual Giving
$541K
+0.7% YoY
Grant Count
60
+22.4% YoY
Avg Grant Size
$9K
-17.7% YoY
Under IRS private-foundation payout rules, Larry & Millie Magid Family Foundation reported a distributable amount of $577K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation provides funds for charitable purposes aligned with its philanthropic goals. Primary funding areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation makes contributions exclusively to preselected charitable organizations. No information is available regarding open grant applications or solicitation procedures.
Grant Range
$250–$95,000
Average Grant
amount: $10,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in:
- New York
- Florida
- Pennsylvania
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $7,609,654
- Total Revenue: $648,524
- Total Expenses: $673,801
- Total Liabilities: $0
Historical Assets:
- 2024: $7,609,654
- Total Annual Income: $1,840,428
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $7,609,654 | $7,634,931 | $8,071,708 |
| Revenue | $648,524 | $215,777 | $203,485 |
| Expenses | $673,801 | $652,554 | $590,019 |
| Qualifying Distributions | $543,340 | $539,081 | $455,205 |
| Net Investment Income | — | $26,521 | $19,268 |
| Distributable Amount | $577,210 | $238,386 | $240,280 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
203 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include United Hatzalah ($55,300), Morgan David Adom ($37,200), Bikur V Ezaras ($30,000).
| Recipient | Purpose | Amount |
|---|---|---|
| THANKS ISRAEL SOLDERS PITTSBURG, PA | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $18,000 |
| JNS NEWTON, MA | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $10,000 |
| ISRAEL DEFENSE FORCES NY, NY | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $10,000 |
| JEWISH EDUCATION STAMFORD, CT | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $10,000 |
| AJIRI WASHINGTON, DC | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $2,500 |
| ISGAP MIAMI, FL | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $5,000 |
| ALPHA EPSILON INDIANAPOLIS, IN | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $5,000 |
| ZIONIST ORGANIZATION OF AMERICA NEW YORK, NY | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $10,000 |
| PEF ISREAL ENDOWMENT FUND NEW YORK, NY | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $25,000 |
| MOMENTUM ROCKVILLE, MD | TO FUND THE GOALS OF THE LARRY & MILLIE MAGID FAMILY FOUNDATION | $20,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Principal Officer: Lawrence Magid
The foundation is governed by 3 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| LAWRENCE MAGID | PRESIDENT | 5 | — |
| MILAGRO MAGID | TREASURER | 5 | — |
| JORDAN MAGID | SECRETARY | 5 | — |
Recent News & Activity
Recent developments and announcements
Lawrence Magid, founder of the Electric Factory, pledged multiple student scholarships through the foundation, including a seven-figure commitment for college scholarships announced in 2018.
Electric Factory founder Larry Magid pledges multiple student scholarshipsSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Larry & Millie Magid Family Foundation fund?
The foundation provides funds for charitable purposes aligned with its philanthropic goals. Primary funding areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Larry & Millie Magid Family Foundation?
**Grant Activity:** • Total giving in 2024: $541,155 • Total giving in 2023: $537,000 • Total giving in 2022: $905,000 (highest grantmaking year on record) • Total giving in 2021: $419,000 **Grant Characteristics:** • Typical grant range: $250–$95,000 • Average grant amount: $10,000 • Median grant amount: $8,000 • Historical grant activity: 178 grants totaling $1.9 million across supported organizations • 2024 grants: 49 grants distributed **Recent Grantees (2024):** • Friends of United Hatzala…
Where does Larry & Millie Magid Family Foundation make grants?
The foundation primarily funds organizations in: • New York • Florida • Pennsylvania
What size grants does Larry & Millie Magid Family Foundation award?
In 2024, Larry & Millie Magid Family Foundation awarded 60 grants totaling $541K — an average of about $9K per grant, based on its IRS Form 990 filings.
How much is Larry & Millie Magid Family Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Larry & Millie Magid Family Foundation reported a distributable amount of $577K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Larry & Millie Magid Family Foundation's EIN?
Larry & Millie Magid Family Foundation's EIN (Employer Identification Number) is 81-4984390. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Larry & Millie Magid Family Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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