Magnolia Charitable Foundation
Magnolia Charitable Foundation is a private foundation, 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.
Magnolia Charitable Foundation at a glance
In short: Magnolia Charitable Foundation gave $231K across 4 grants in 2024 (avg $58K), mostly in New York. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $230,700
- +653.4% vs 2023
- Grants made (2024)
- 4
- +100.0% vs 2023
- Average grant
- $57,675
- +276.7% vs 2023
- Median grant
- $40,075
- Total assets
- $4,136,270
- +2.8% vs 2023
- Primary geography
- New York (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Magnolia Charitable Foundation funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
The largest 2024 recipient was Rabbinical Seminary of America ($150K). Together the top 4 received $231K.
Grant Size Distribution
14 grants across all recorded years
The most common grant size was under $50K: 10 grants of 14 (71%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 4 itemized grants.
States
Cities
How Magnolia Charitable Foundation gives
- Giving grew 844% from 2021 to 2024. Method
- In 2024 it paid out 115% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $24K (2021) to $403K (2022). In 2024 it made 4 grants totaling $231K.
Grants by year
Grant recipients and amounts by year
| 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 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $4,136,270 | $355,190 | $241,251 | $230,700 | 4 | $231,475 | $351,485 | $200,506 |
| 2023 | $4,022,331 | $393,697 | $58,627 | $30,622 | 2 | $31,547 | $374,192 | $200,095 |
| 2022 | $3,687,261 | $546,044 | $453,696 | $402,942 | 3 | $404,567 | $544,669 | $220,241 |
| 2021 | $3,594,913 | $511,355 | $27,701 | $24,451 | 2 | $24,701 | $348,366 | $225,080 |
| 2020 | $3,111,507 | $266,877 | $326,298 | $325,048 | 3 | — | $58,585 | $259,619 |
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.
Leadership & Key People
Officers and directors from IRS filings
Magnolia Charitable Foundation is led by Selig K. Solomon, President since 2021 (on filings since 2020); none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Selig K. Solomon
President
Trustee → President, 2021
On filings since 2020
3 hrs/week
No compensation reported
David Z. Solomon
Treasurer
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "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 Magnolia Charitable Foundation
How much does Magnolia Charitable Foundation give each year?
Magnolia Charitable Foundation gave $231K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $31K across 2 grants.
What is Magnolia Charitable Foundation's typical grant size?
Magnolia Charitable Foundation's median grant in 2024 was $40,075, and its average grant was $57,675, across 4 grants on its 2024 IRS Form 990-PF.
Where does Magnolia Charitable Foundation give grants?
Magnolia Charitable Foundation gives mostly in New York: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Flushing, NY (4 grants).
Does Magnolia Charitable Foundation give general operating support?
Not in 2024: none of the 4 grants with a stated purpose on Magnolia Charitable Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Religious Purposes" (4 grants).
How large is Magnolia Charitable Foundation?
Magnolia Charitable Foundation reported $4.1M in total assets on its 2024 IRS Form 990-PF. It paid out $231K in qualifying distributions that year, against a required minimum of $201K (roughly 5% of its investment assets).
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.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
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