Magyarbank Charitable Foundation
Magyarbank Charitable Foundation is a private foundation based in New Brunswick, New Jersey, and files Form 990-PF. Its 2025 filing reports 24 grants totaling $75,750, all to recipients in New Jersey. Recent grants supported organizations working in areas including arts, housing, food assistance, education, and community services.
Magyarbank Charitable Foundation at a glance
In short: Magyarbank Charitable Foundation gave $76K across 24 grants in 2025 (avg $3K), mostly in New Jersey. 50% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $75,750
- +6.4% vs 2024
- Grants made (2025)
- 24
- +0.0% vs 2024
- Average grant
- $3,156
- +6.4% vs 2024
- Median grant
- $2,500
- Total assets
- $827,538
- +21.0% vs 2024
- New grantees (estimate)
- 50% first-time grantees (12 of 24, 2025; small sample)
- Primary geography
- New Jersey (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Magyarbank Charitable Foundation
- Accepts unsolicited proposals
- No
- Contact
Mailing address: 400 Somerset Street, New Brunswick, NJ 08901
Phone: (732) 342-7600
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Magyarbank Charitable Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was State Theatre New Jersey ($25K). Together the top 10 received $53K.
Grant Size Distribution
118 grants across all recorded years
The most common grant size was under $50K: 118 grants of 118 (100%).
Geographic Focus
Where this funder awards grants
All grant dollars reported for 2025 went to recipients in New Jersey.
Grant Distribution by State
Share of 2025 grant dollars across all 24 itemized grants.
States
Cities
Is Magyarbank Charitable Foundation open to new grantees?
50%
first-time grantees, 2025
In 2025, 12 of 24 grantees (50%) were first-time recipients. With only 24 grantees, that is a small sample: one grantee more or less moves the share by about 4 points. First grants averaged $4K; repeat grants $2K. How we count
Medians: $3K first-time, $3K repeat.
- 29% of 2025 grantees were also funded in 2024. Method
- Giving fell 22% from 2022 to 2025. Method
- In 2025 it paid out 205% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $58K (2019) to $97K (2022). In 2025 it made 24 grants totaling $76K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| State Theatre New Jersey New Brunswick, NJ | Promote Arts at Little or No Cost | $25,000 |
| Central Jersey Housing Resource Ctr Somerville, NJ | Counseling, Foreclosure Prevention | $5,000 |
| Triple C Housing North Brunswick, NJ | Fund Pop up Pantry at Truman SQ. | $5,000 |
| Elijahs Promise New Brunswick, NJ | Promotes Food as Medicine | $2,500 |
| Greater Somerset County YMCA Basking Ridge, NJ | To Continue Providing YMCA Services | $2,500 |
| New Brunswick Education Foundation New Brunswick, NJ | Support for New Brunswick Teachers | $2,500 |
| Town Clock Community Develpmt Comm New Brunswick, NJ | Funding for the Case Mgmt Program | $2,500 |
| Meals on Wheels Greater New Brunswi New Brunswick, NJ | Support for the Weekend Program | $2,500 |
| American Repertory Ballet New Brunswick, NJ | Access to Dance Arts for Low Income | $2,500 |
| George Street Playhouse New Brunswick, NJ | Support for Fy 25-26 Youth Program | $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 |
|---|---|---|---|---|---|---|---|---|
| 2025 | $827,538 | $237,610 | $92,883 | $75,750 | 24 | $75,750 | $13,513 | $37,028 |
| 2024 | $683,755 | $32,048 | $98,528 | $71,200 | 24 | $102,277 | $161,766 | $34,060 |
| 2023 | $663,669 | $26,806 | $86,978 | $71,381 | 24 | $84,311 | $116,097 | $37,146 |
| 2022 | $874,477 | $33,390 | $111,895 | $97,000 | 26 | $106,023 | $111,060 | $42,766 |
| 2021 | $892,594 | $4,849 | $90,780 | $77,697 | 20 | — | $104,729 | $39,193 |
| 2020 | $608,756 | $57 | $75,976 | $57,950 | 22 | — | $57 | $38,688 |
| 2019 | $792,980 | $15,621 | $62,428 | $57,500 | 23 | — | $15,538 | $45,010 |
Under IRS private-foundation payout rules, Magyarbank Charitable Foundation reported a distributable amount of $37K for 2025 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
No mission statement for the foundation is provided. Its grants include support for arts access, housing and foreclosure-prevention services, food programs, education, and other community services.
Among its grantees, Triple C Housing describes its mission as providing supportive housing and services to help people live independently. George Street Playhouse says it enriches people’s lives through theatre and theatre education. Elijah’s Promise describes work to empower lives through training, education, and social services, and to alleviate hunger with nutritious meals. The New Brunswick Education Foundation says it supports New Brunswick public school students through initiatives generally not covered by the school budget.
Grantmaking
In 2025, the foundation awarded 24 grants totaling $75,750. Grants ranged from $1,000 to $25,000, with a median grant of $2,500.
The largest reported grants included $25,000 to State Theatre New Jersey to promote arts at little or no cost; $5,000 each to Central Jersey Housing Resource Center for counseling and foreclosure prevention and to Triple C Housing for a pop-up pantry at Truman Square; and $2,500 each to Elijah’s Promise, the Greater Somerset County YMCA, the New Brunswick Education Foundation, Town Clock Community Development Commission, Meals on Wheels Greater New Brunswick, American Repertory Ballet, George Street Playhouse, Jewish Family Services of Middlesex, and Little Servant Sisters of St. Joseph.
The foundation states on its 2024 filing that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists John Reissner as president; Jon R. Ansari as vice president and treasurer; Robin E. Suydam as corporate secretary; John S. Fitzgerald as a Class I board member; Deborah S. Alexander and Thomas Lankey as Class II board members; and Sarah Chaplin as a Class III board member.
Magyarbank Charitable Foundation is led by John Reissner, President since 2022 (on filings since 2021); none of the 7 officers listed in 2025 report compensation.
Officers on the 2025 filing
John Reissner
President
President - → President, 2022
On filings since 2021
0.2 hrs/week
No compensation reported
Deborah S. Alexander
Class II Board
Board Member → Class II Board Member, 2020
Class II Board Member → Class II Board, 2025
On filings since 2019
0.2 hrs/week
No compensation reported
John S. Fitzgerald
Class I Board
Board Member → Class I Board Member, 2020
Class I Board Member → Class I Board, 2025
On filings since 2019
0.2 hrs/week
No compensation reported
Jon R. Ansari
Vice President & Treasurer
Vice President & Treasurer → V.p. & Treasurer, 2020
V.p. & Treasurer → Vice President & Treasurer, 2025
On filings since 2019
0.2 hrs/week
No compensation reported
Robin E. Suydam
Corp. Secretary
Corporate Secretary Board Member → Corporate Secretary & Director, 2020
Corporate Secretary & Director → Corp. Secretary, 2025
On filings since 2019
0.2 hrs/week
No compensation reported
Thomas Lankey
Class II Board
Board Member → Class II Board Member, 2020
Class II Board Member → Class II Board, 2025
On filings since 2019
0.2 hrs/week
No compensation reported
Sarah Chaplin
Class III Board
Class III Board Member - → Class III Board Member, 2022
Class III Board Member → Class III Board, 2025
On filings since 2021
0.2 hrs/week
No compensation reported
Former officers (2)
- Former: Jay E. Castillo (2019–2021) — President -
- Former: Salvatore J. Romano PhD (2019–2020) — Class III Board Member
Data from IRS Form 990 filings, 2019–2025. "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 Magyarbank Charitable Foundation
How much does Magyarbank Charitable Foundation give each year?
Magyarbank Charitable Foundation gave $76K across 24 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $71K across 24 grants.
What is Magyarbank Charitable Foundation's typical grant size?
Magyarbank Charitable Foundation's median grant in 2025 was $2,500, and its average grant was $3,156, across 24 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from Magyarbank Charitable Foundation that year got $4K on average.
Where does Magyarbank Charitable Foundation give grants?
Magyarbank Charitable Foundation gives mostly in New Jersey: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were New Brunswick, NJ (8 grants) and North Brunswick, NJ (2 grants).
Does Magyarbank Charitable Foundation give general operating support?
Yes: 13% of Magyarbank Charitable Foundation's 2025 grants with a stated purpose (3 of 24) were for general or operating support, per its 2025 IRS Form 990-PF.
Who are Magyarbank Charitable Foundation's largest grantees?
Magyarbank Charitable Foundation's largest 2025 grantees include State Theatre New Jersey ($25,000), Central Jersey Housing Resource Ctr ($5,000) and Triple C Housing ($5,000), according to its 2025 IRS Form 990-PF. Together they received 46% of its itemized 2025 grant dollars.
How large is Magyarbank Charitable Foundation?
Magyarbank Charitable Foundation reported $828K in total assets on its 2025 IRS Form 990-PF. It paid out $76K in qualifying distributions that year, against a required minimum of $37K (roughly 5% of its investment assets).
What does Magyarbank Charitable Foundation fund?
No mission statement for the foundation is provided. Its grants include support for arts access, housing and foreclosure-prevention services, food programs, education, and other community services. See mission & focus areas ↑
How do I apply for a grant from Magyarbank Charitable Foundation?
Magyarbank Charitable Foundation does not accept unsolicited proposals, according to Grantable's research on its published guidelines.
What is Magyarbank Charitable Foundation's EIN?
Magyarbank Charitable Foundation's EIN (Employer Identification Number) is 20-4154914. IRS Form 990 filing data is available on this page for 2019–2025.
Does Magyarbank Charitable Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS August 13, 2020)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 21, 2026)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Magyarbank Charitable Foundation funds
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Cite this profile
Grantable. (2026). Magyarbank Charitable Foundation funder profile. GrantGraph. Retrieved October 17, 2026, from https://grantable.co/funders/magyarbank-charitable-foundation-morg_8b66785bb5b54756b6f7300313d90df0
BibTeX
@misc{grantable_204154914_2026,
author = {{Grantable}},
title = {{Magyarbank Charitable Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/magyarbank-charitable-foundation-morg_8b66785bb5b54756b6f7300313d90df0},
note = {Accessed 2026-10-17. 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 Magyarbank Charitable 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.
Magyarbank Charitable Foundation down — hundreds of funders to go?