Magnetar Capital Foundation is a private, non-operating 501(c)(3) foundation based in Evanston, Illinois. The foundation was granted tax-exempt status in December 2012. It operates as a corporate foundation with a primary focus on educational initiatives, particularly youth financial literacy and business education programs.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Revenue
—
Net Investment Income
—
Expenses
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Mission & Focus Areas
The foundation's primary purpose is to operate an educational program called Finedge (formerly known as Magnetar Youth Academy). This program educates youth about basic concepts of business and finance.
Primary funding focus areas include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Community and economic development
- Housing development
Grantmaking
No specific application process information is publicly available.
Grant Range
$6 (based on recent data)
Average Grant
$6 (based on recent data)
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation funds projects across various U.S. cities and states, including:
- California
- Colorado
- Connecticut
- Florida
- Illinois
- Massachusetts
- Maryland
- New Jersey
- New York
- Ohio
- Pennsylvania
- Tennessee
- Texas
- Virginia
Primary focus includes major urban centers such as Chicago, New York, and Los Angeles, as well as smaller communities.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Most Recent Financial Data (2024):
- Total Assets: $21,734
- Total Revenues: $30,228
- Total Expenses: $26,356
- Total Grants, Contributions, etc.: $30,000
Previous Year (2023):
- Total Assets: $27,307
- Total Revenues: $2,024
- Total Expenses: $30,110
- Total Liabilities: $31,900
Historical Data (2013):
- Assets: $916,440
- Income: $1,173,552
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 0 recipients in 2024
Grant Size Distribution
135 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for 2024.
Leadership & Key People
Leadership team and compensation from IRS filings
Paul Smith is listed as a contact person for the organization.
Compensation Overview
From 2024 IRS filing
No officer/director data available.
Recent News & Activity
Recent developments and announcements
The foundation made a significant $5 million donation to the University of Chicago to support youth financial education initiatives. This contribution demonstrates the foundation's commitment to expanding financial literacy programs for high school students.
News and Events - UChicago STEM EducationThe Finedge program is described as a free, 30-hour financial education program that uses technology, teamwork, and competition to teach high school students about budgeting, borrowing, saving, and making smart financial decisions. Since its founding in 2011, the program has served over 5,000 students.
Project Updates - Financial Education Initiative | UChicagoContact Information
Address: 1603 Orrington Avenue, Suite 1300, Evanston, IL 60201-5018
Phone: 847-905-4400
Website: www.magnetaracademy.org
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Magnetar Capital Foundation fund?
The foundation's primary purpose is to operate an educational program called Finedge (formerly known as Magnetar Youth Academy). This program educates youth about basic concepts of business and finance. Primary funding focus areas include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services • Community and economic development • Housing development
How do I apply for a grant from Magnetar Capital Foundation?
**Recent Grant Activity:** • Made 40 grants in the most recent reporting year • Recent documented grants include: • Youth and Opportunity United (YOU): $2,500 (General Operating Support, 2023) • Marwen Foundation: $200 (General Operating Support, 2023) **Grant Characteristics:** • Typical award range: $25 to $1,000,000 • Average grant size: $6 (based on recent data) • Open to new applicants • Approximately 12% of new applicants are funded **Application Process:** No specific application process…
Where does Magnetar Capital Foundation make grants?
The foundation funds projects across various U.S. cities and states, including: • California • Colorado • Connecticut • Florida • Illinois • Massachusetts • Maryland • New Jersey • New York • Ohio • Pennsylvania • Tennessee • Texas • Virginia Primary focus includes major urban centers such as Chicago, New York, and Los Angeles, as well as smaller communities.
What is Magnetar Capital Foundation's EIN?
Magnetar Capital Foundation's EIN (Employer Identification Number) is 46-0807550. IRS Form 990 filing data is available on this page for 2020–2024.
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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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