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
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
**
Ready to take the next step with Larry & Millie Magid Family Foundation?
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
No grants recorded for .
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
Related Funders
Similar funders by location and focus area
Virgil P Warren Fdn Tr Ua
ORLANDO, FL
Assets
$4.2M
Grants
14
Total Given
$96K
The Fritch Foundation
FT LAUDERDALE, FL
Assets
—
Grants
17
Total Given
$167K
Leiman Asterisk Foundation Inc
DELRAY BEACH, FL
Assets
$1.2M
Grants
2
Total Given
$62K
Rachel Memorial Foundation
SANTA RSA BCH, FL
Assets
—
Grants
6
Total Given
$10K
My Brother'ssister's Keeper Charitable
ROYAL PALM BEACH, FL
Assets
$462K
Grants
1
Total Given
$50K
The Shore Lane Family Foundation Inc
BOCA GRANDE, FL
Assets
$335
Grants
20
Total Given
$430K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Larry & Millie Magid Family Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities