Magnolia Charitable Foundation
Magnolia Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FLUSHING, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.1M in total assets. In 2024, it awarded 4 grants totaling $231K. Net investment income was $351K.
Key facts about Magnolia Charitable Foundation
- EIN
- 27-6620623
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $230,700
- Grants made (2024)
- 4
- Average grant
- $57,675
- Median grant
- $40,075
- Total assets
- $4,136,270
- Primary geography
- New York (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated April 2026.
Who Magnolia Charitable Foundation funds
By grant dollars, the top recipient states for Magnolia Charitable Foundation's 4 itemized 2024 grants were New York (100%). The most frequent recipient cities were Flushing, NY (4 grants). None of its 4 grants with a stated purpose were described as general or operating support. Recurring purposes include "Religious Purposes" (4 grants).
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.1M
+2.8% YoY
Annual Giving
$231K
+653.4% YoY
Grant Count
4
+100.0% YoY
Avg Grant Size
$58K
+276.7% YoY
Under IRS private-foundation payout rules, Magnolia Charitable Foundation reported a distributable amount of $201K for 2024 — the minimum it must pay out in qualifying distributions.
About Magnolia Charitable Foundation
Based on IRS filings
Magnolia Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FLUSHING, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.1M in total assets. In 2024, it awarded 4 grants totaling $231K. Net investment income was $351K.
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 | $4,136,270 | $4,022,331 | $3,687,261 |
| Revenue | $355,190 | $393,697 | $546,044 |
| Expenses | $241,251 | $58,627 | $453,696 |
| Qualifying Distributions | $231,475 | $31,547 | $404,567 |
| Net Investment Income | $351,485 | $374,192 | $544,669 |
| Distributable Amount | $200,506 | $200,095 | $220,241 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
Grant Size Distribution
14 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Rabbinical Seminary of America ($150,000), Keren Mugein Imoisheya ($60,000), Al Kanfei Nisharim ($20,150).
| Recipient | Purpose | Amount |
|---|---|---|
| RABBINICAL SEMINARY OF AMERICA FLUSHING, NY | RELIGIOUS PURPOSES | $150,000 |
| KEREN MUGEIN IMOISHEYA FLUSHING, NY | RELIGIOUS PURPOSES | $60,000 |
| AL KANFEI NISHARIM FLUSHING, NY | RELIGIOUS PURPOSES | $20,150 |
| MISC QUALIFYING CONTRIBUTIONS UNDER 1000 FLUSHING, NY | RELIGIOUS PURPOSES | $550 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SELIG K SOLOMON | PRESIDENT | 3 | — |
| DAVID Z SOLOMON | TREASURER | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Magnolia Charitable Foundation?
Magnolia Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FLUSHING, NY. It holds $4.1M in total assets as of 2024.
How large is Magnolia Charitable Foundation?
As of 2024, Magnolia Charitable Foundation holds $4.1M in total assets with $355K in annual revenue. It awarded 4 grants totaling $231K in 2024.
Where does Magnolia Charitable Foundation operate?
Magnolia Charitable Foundation has awarded grants in New York.
What size grants does Magnolia Charitable Foundation award?
In 2024, Magnolia Charitable Foundation awarded 4 grants totaling $231K — an average of about $58K per grant, based on its IRS Form 990 filings.
How much is Magnolia Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Magnolia Charitable Foundation reported a distributable amount of $201K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Magnolia Charitable Foundation's EIN?
Magnolia Charitable Foundation's EIN (Employer Identification Number) is 27-6620623. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Magnolia Charitable 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.