Magnolia Foundation
Magnolia Foundation is a private foundation, based in Waco, TX. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $337 in total assets. In 2024, it made $2K in qualifying distributions.
Magnolia Foundation at a glance
- Total assets
- $337
- -82.5% vs 2023
- Qualifying distributions (2024)
- $1,500
- -97.8% vs 2023
- Expenses (2024)
- $1,670
- -97.5% vs 2023
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Magnolia Foundation funds
How this funder distributes its grants
Grant Size Distribution
31 grants across all recorded years
The most common grant size was under $50K: 26 grants of 31 (84%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
How Magnolia Foundation gives
- In 2024 it paid out well above 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 2021 to 2023, annual grant giving ranged from $53K (2023) to $462K (2021). In 2023 it made 2 grants totaling $53K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Salvation Army Waco Waco, TX | Unrestricted donation | $50,000 |
| Waco Goodfellas Inc Waco, TX | Unrestricted Donation | $2,500 |
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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 | $337 | — | $1,670 | — | — | $1,500 | — | $23 |
| 2023 | $1,927 | — | $67,254 | $52,500 | 2 | $67,254 | — | $264 |
| 2022 | $69,181 | $20,494 | $168,123 | $149,494 | 17 | $165,994 | — | $9,048 |
| 2021 | $224,810 | $555,339 | $462,579 | $462,400 | 12 | $462,460 | $1 | $6,895 |
Under IRS private-foundation payout rules, Magnolia Foundation reported a distributable amount of $23 for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Magnolia Foundation is led by Jerry Stevens, President on every filing since 2021; none of the 3 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jerry Stevens
President
On filings since 2021
1 hr/week
No compensation reported
Chip Carter Gaines
Director
On filings since 2021
0.5 hrs/week
No compensation reported
Joanna Stevens Gaines
Director
On filings since 2021
0.5 hrs/week
No compensation reported
Former officers (5)
- Former: Callie Schrank (2021) — President & Director
- Former: Dawn Uballe (2021) — Secretary
- Former: Doug McNamee (2021) — Director
- Former: Lyle Mason (2021) — Director
- Former: Michael Rodriguez (2021) — Treasurer
Data from IRS Form 990 filings, 2021–2024. "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 Foundation
How large is Magnolia Foundation?
Magnolia Foundation reported $337 in total assets on its 2024 IRS Form 990-PF. It paid out $2K in qualifying distributions that year, against a required minimum of $23 (roughly 5% of its investment assets).
Where does Magnolia Foundation operate?
Magnolia Foundation has awarded grants in Georgia, Idaho, Minnesota, North Carolina, New Jersey, Tennessee, Texas.
What is Magnolia Foundation's EIN?
Magnolia Foundation's EIN (Employer Identification Number) is 81-3494937. IRS Form 990 filing data is available on this page for 2021–2024.
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 2021–2024
Explore Open Grants
Browse active grant opportunities in Magnolia Foundation's focus areas in our free grants database
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Cite this profile
Grantable. (2026). Magnolia Foundation funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/magnolia-foundation-morg_86f6fbff34c742ed88e3f2e970081e67
BibTeX
@misc{grantable_813494937_2026,
author = {{Grantable}},
title = {{Magnolia Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/magnolia-foundation-morg_86f6fbff34c742ed88e3f2e970081e67},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Magnolia Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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