Mag Family Foundation Inc
Mag Family Foundation Inc is a private foundation, based in Greenville, SC. IRS filing data is available from 2023 through 2025. As of 2025, the organization holds $2.6M in total assets. In 2025, it awarded 22 grants totaling $165K. Net investment income was $77K.
Key facts about Mag Family Foundation Inc
In short: Mag Family Foundation Inc gave $165K across 22 grants in 2025 (avg $7K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- EIN
- 92-1628639
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $164,500
- Grants made (2025)
- 22
- Average grant
- $7,477
- Median grant
- $5,000
- Total assets
- $2,618,439
- Primary geography
- North Carolina (94% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$2.6M
+2.2% YoY
Annual Giving
$165K
Grant Count
22
Avg Grant Size
$7K
Under IRS private-foundation payout rules, Mag Family Foundation Inc reported a distributable amount of $207K for 2025 — the minimum it must pay out in qualifying distributions.
How Mag Family Foundation Inc gives
- In 2025 it paid out 79% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 22 itemized 2025 grant dollars.
Cities
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 2025
Grant Size Distribution
22 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| ASHEVILLE-BUNCOMBE COMMUNITY CHRISTIAN MINITRISTY INC (ABCCM) Arden, NC | RELIGIOUS | $40,000 |
| CAROLINA RESOURCE CENTER FOR EATING DISORDERS Asheville, NC | HEALTH | $30,000 |
| HELPMATE ASHEVILLE Asheville, NC | COMMUNITY | $25,000 |
| HIGH POINT UNIVERSITY PRESIDENTS LEADERSHIP CABINET High Point, NC | EDUCATIONAL | $10,000 |
| ALL SOULS COUNSELING CENTER Asheville, NC | COMMUNITY | $10,000 |
| ASHEVILLE CITY SCHOOL FOUNDATION Asheville, NC | EDUCATIONAL | $9,000 |
| BROOKWOOD CHURCH Simpsonville, SC | RELIGIOUS | $5,500 |
| KIWANIS CLUB OF ASHEVILLE Asheville, NC | COMMUNITY | $5,000 |
| OUR VOICE Asheville, NC | COMMUNITY | $5,000 |
| REGROUP CAROLINAS Charlottle, NC | EDUCATION | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,618,439 | $2,561,346 | $3,509 |
| Revenue | $260,357 | $552,216 | $10,016 |
| Expenses | $190,506 | $25,151 | $6,507 |
| Qualifying Distributions | $164,500 | $455 | $4,867 |
| Net Investment Income | $76,896 | $410,646 | — |
| Distributable Amount | $207,161 | $168,661 | $149 |
Data update history
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2023 (received by the IRS November 4, 2025)
- Added Form 990-PF for fiscal year 2024 (received by the IRS November 4, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 13, 2026)
Leadership & Key People
Officers and directors from IRS filings
Mag Family Foundation Inc is led by Louisa G. Davis, President since 2024 (on filings since 2023); none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Louisa G. Davis
President
Treasurer → President, 2024
On filings since 2023
No compensation reported
Karen Goodman
Director
Vice President → Director, 2024
On filings since 2023
No compensation reported
Hadley G. Cropp
Vice President
Secretary → Vice President, 2024
On filings since 2023
No compensation reported
Former officers (1)
- Former: Michael Goodman (2023–2024) — President
Data from IRS Form 990 filings, 2023–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Mag Family Foundation Inc
How much does Mag Family Foundation Inc give each year?
Mag Family Foundation Inc gave $165K across 22 grants in 2025, according to its 2025 IRS Form 990-PF.
What is Mag Family Foundation Inc's typical grant size?
Mag Family Foundation Inc's median grant in 2025 was $5,000, and its average grant was $7,477, across 22 grants on its 2025 IRS Form 990-PF.
Where does Mag Family Foundation Inc give grants?
Mag Family Foundation Inc gives mostly in North Carolina: 94% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was South Carolina (5%). The most frequent recipient cities were Asheville, NC (10 grants) and Charlottle, NC (2 grants).
Does Mag Family Foundation Inc give general operating support?
Not in 2025: none of the 22 grants with a stated purpose on Mag Family Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Community" (7 grants), "Religious" (6 grants) and "Educational" (5 grants).
Who are Mag Family Foundation Inc's largest grantees?
Mag Family Foundation Inc's largest 2025 grantees include Asheville-Buncombe Community Christian Minitristy Inc (Abccm) ($40,000), Carolina Resource Center for Eating Disorders ($30,000) and Helpmate Asheville ($25,000), according to its 2025 IRS Form 990-PF. Together they received 58% of its itemized 2025 grant dollars.
How large is Mag Family Foundation Inc?
Mag Family Foundation Inc reported $2.6M in total assets on its 2025 IRS Form 990-PF. It paid out $165K in qualifying distributions that year, against a required minimum of $207K (roughly 5% of its investment assets).
What is Mag Family Foundation Inc's EIN?
Mag Family Foundation Inc's EIN (Employer Identification Number) is 92-1628639. IRS Form 990 filing data is available on this page for 2023–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Here's the math on researching Mag Family Foundation Inc by hand.
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