Magnolia Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RIO GRANDE, PR. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $375K in total assets. In 2024, it awarded 7 grants totaling $41K. Net investment income was $20K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$375K
-5.6% YoY
Annual Giving
$41K
+0.6% YoY
Grant Count
7
-36.4% YoY
Avg Grant Size
$6K
+58.0% YoY
Under IRS private-foundation payout rules, Magnolia Foundation reported a distributable amount of $23K for 2024 — the minimum it must pay out in qualifying distributions.
About Magnolia Foundation
Based on IRS filings
Magnolia Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RIO GRANDE, PR. IRS filing data is available from 2019 through 2024. As of 2024, the organization holds $375K in total assets. In 2024, it awarded 7 grants totaling $41K. Net investment income was $20K.
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 | $375,080 | $397,450 | $422,916 |
| Revenue | $24,851 | $19,616 | $25,195 |
| Expenses | $47,221 | $45,082 | $83,244 |
| Qualifying Distributions | $42,406 | $41,572 | $76,637 |
| Net Investment Income | $20,036 | $16,092 | $18,588 |
| Distributable Amount | $23,028 | $21,419 | $22,812 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2024
Grant Size Distribution
53 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include University of Pennsylvania ($30,000), Fundacion Forjadores De Esperanza ($4,000), Nature Conservancy ($2,266).
| Recipient | Purpose | Amount |
|---|---|---|
| UNIVERSITY OF PENNSYLVANIA PHILADELPHIA, PA | GENERAL SUPPORT | $30,000 |
| FUNDACION FORJADORES DE ESPERANZA | GENERAL SUPPORT | $4,000 |
| NATURE CONSERVANCY ARLINGTON, VA | GENERAL SUPPORT | $2,266 |
| GRACE & HOPE MINISTRIES BALTIMORE, MD | GENERAL SUPPORT | $1,635 |
| COOL EFFECT INC GREENBRAE, CA | GENERAL SUPPORT | $1,400 |
| HOPE AND DELIVERANCE MINISTRIES SAINT AUGUSTINE, FL | THANKSGIVING FOOD BANK | $1,000 |
| JDRF INTERNATIONAL NEW YORK, NY | GENERAL SUPPORT | $500 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TOM R S MILLON | TRUSTEE | 2 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Magnolia Foundation?
Magnolia Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in RIO GRANDE, PR. It holds $375K in total assets as of 2024.
How large is Magnolia Foundation?
As of 2024, Magnolia Foundation holds $375K in total assets with $25K in annual revenue. It awarded 7 grants totaling $41K in 2024.
Where does Magnolia Foundation operate?
Magnolia Foundation has awarded grants in California, Colorado, District of Columbia, Florida, Hawaii, Massachusetts, Maryland, Missouri, New York, Pennsylvania, Texas, Virginia, Washington.
What size grants does Magnolia Foundation award?
In 2024, Magnolia Foundation awarded 7 grants totaling $41K — an average of about $6K per grant, based on its IRS Form 990 filings.
How much is Magnolia Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Magnolia Foundation reported a distributable amount of $23K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Magnolia Foundation's EIN?
Magnolia Foundation's EIN (Employer Identification Number) is 32-6567162. IRS Form 990 filing data is available on this page for 2019–2024.
Explore Open Grants
Browse active grant opportunities in Magnolia 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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