Magnifi Financial Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MELROSE, MN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $797K in total assets. In 2024, it awarded 5 grants totaling $30K. Net investment income was $27K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$797K
+17.2% YoY
Annual Giving
$30K
+11.1% YoY
Grant Count
5
+66.7% YoY
Avg Grant Size
$6K
-33.3% YoY
Under IRS private-foundation payout rules, Magnifi Financial Foundation reported a distributable amount of $34K for 2024 — the minimum it must pay out in qualifying distributions.
About Magnifi Financial Foundation
Based on IRS filings
Magnifi Financial Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MELROSE, MN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $797K in total assets. In 2024, it awarded 5 grants totaling $30K. Net investment income was $27K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $797,427 | $680,413 | $609,430 |
| Revenue | $158,444 | $98,724 | $87,623 |
| Expenses | $41,430 | $27,741 | $24,532 |
| Qualifying Distributions | $30,000 | $27,000 | $23,000 |
| Net Investment Income | $27,025 | $11,397 | $3,171 |
| Distributable Amount | $34,218 | $29,779 | $26,729 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
Grant Size Distribution
21 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Fargo Park District Foundation ($10,000), Three Rivers Park ($10,000), City of Wadena ($5,000).
| Recipient | Purpose | Amount |
|---|---|---|
| THE MELROSE AREA COMMUNITY YOUTH CE Melrose, MN | GENERAL DONATION TO PROVIDE FOOD, ACTIVITIES, GAMES, & TUTORS FOR KIDS. | $2,500 |
| CITY OF ALBANY ALBANY, MN | DONATION TO COVER EXPENSES SUCH AS SPECIALIZED TRAINING, KENNELS, FOOD, & VETERINARIAN COSTS FOR A SCHOOL THERAPY DOG. | $2,500 |
| CITY OF WADENA WADENA, MN | DONATION TO SUPPORT THE CONSTRUCTION OF 3 ADDITIONAL WEATHER SIRENS FOR THE CITY OF WADENA. | $5,000 |
| FARGO PARK DISTRICT FOUNDATION FARGO, ND | DONATION TO SUPPORT THE DEVLOPMENT OF A COMMUNITY CENTER. | $10,000 |
| THREE RIVERS PARK PLYMOUTH, MN | DONATION TO SUPPORT THE DEVLOPMENT OF A NEW PARK. | $10,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHARLES B FRIEDERICHS | President | 1 | — |
| COREY SAND | Director | 1 | — |
| JANELLE BORGMANN | Treasurer | 1 | — |
| GARY MEYER | Secretary | 1 | — |
| NANCY L ROSKE | Vice President | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Magnifi Financial Foundation?
Magnifi Financial Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in MELROSE, MN. It holds $797K in total assets as of 2024.
How large is Magnifi Financial Foundation?
As of 2024, Magnifi Financial Foundation holds $797K in total assets with $158K in annual revenue. It awarded 5 grants totaling $30K in 2024.
Where does Magnifi Financial Foundation operate?
Magnifi Financial Foundation has awarded grants in Minnesota, North Dakota.
What size grants does Magnifi Financial Foundation award?
In 2024, Magnifi Financial Foundation awarded 5 grants totaling $30K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is Magnifi Financial Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Magnifi Financial Foundation reported a distributable amount of $34K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Magnifi Financial Foundation's EIN?
Magnifi Financial Foundation's EIN (Employer Identification Number) is 61-1690771. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Magnifi Financial Foundation's focus areas in our free grants database
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Data last updated April 2026. Sourced from IRS Form 990-PF filings.
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