Magyarbank Charitable Foundation

Foundation · Grantmaker New Brunswick, NJ EIN: 20-4154914

Magyarbank Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in New Brunswick, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $684K in total assets. In 2024, it awarded 24 grants totaling $71K. Net investment income was $162K.

Key facts about Magyarbank Charitable Foundation

EIN: 20-4154914
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $71,200
Grants made (2024): 24
Average grant: $2,967
Median grant: $2,500
New grantees (estimate): 38% first-time grantees (9 of 24, 2024)
Total assets: $683,755
Primary geography: New Jersey (100% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).

Who Magyarbank Charitable Foundation funds

By grant dollars, the top recipient states for Magyarbank Charitable Foundation's 24 itemized 2024 grants were New Jersey (100%). The most frequent recipient cities were New Brunswick, NJ (7 grants), Edison, NJ (3 grants), Somerset, NJ (2 grants) and North Brunswick, NJ (2 grants). 8% of grants with a stated purpose were for general or operating support.

Is Magyarbank Charitable Foundation open to new grantees?

38%

first-time grantees, 2024

In 2024, 9 of 24 grantees (38%) were first-time recipients. First grants averaged $3K; repeat grants $3K. How we count

Medians: $3K first-time, $3K repeat.

42% of 2024 grantees were also funded in 2023. Method
Giving held roughly steady from 2021 to 2024 (−8%). Method
In 2024 it paid out 300% of its IRS minimum distribution (the 5% rule). Method

Estimate from itemized IRS Form 990-PF grant lists (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$684K

+3.0% YoY

Annual Giving

$71K

-0.3% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$3K

-0.3% YoY

Under IRS private-foundation payout rules, Magyarbank Charitable Foundation reported a distributable amount of $34K for 2024 — the minimum it must pay out in qualifying distributions.

About Magyarbank Charitable Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

New Jersey $71K (100%)

Share of all 24 itemized 2024 grant dollars.

States

Michigan New Jersey

Cities

New BrunswickEdisonNorth BrunswickSomervilleSomersetBridgewaterHighland ParkPluckeminPrincetonBasking RidgeDunellenEast BrunswickMetuchenNorth BranchPlainfieldAnn ArborAsbury ParkBedminsterBrickCedar Knolls

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$683,755	$663,669	$874,477
Revenue	$32,048	$26,806	$33,390
Expenses	$98,528	$86,978	$111,895
Qualifying Distributions	$102,277	$84,311	$106,023
Net Investment Income	$161,766	$116,097	$111,060
Distributable Amount	$34,060	$37,146	$42,766

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

Grant Size Distribution

116 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Jewish Community Center of Middlesex County ($7,200), State Theatre Regional Arts Center at New Brunswick Inc ($5,500), Central Jersey Housing Resource Center ($5,000).

Recipient	Purpose	Amount
JEWISH COMMUNITY CENTER OF MIDDLESEX COUNTY Edison, NJ	FUNDING FOR INCORPORATION OF NEW LEARNING EXPERIENCES	$7,200
STATE THEATRE REGIONAL ARTS CENTER AT NEW BRUNSWICK INC New Brunswick, NJ	SUPPORT FOR THE SUCCESS OF THE CLASSICAL AND EDUCATIONAL PROGRAMS	$5,500
CENTRAL JERSEY HOUSING RESOURCE CENTER Somerville, NJ	FUNDING FOR HOUSING PROGRAMS	$5,000
FRANKLIN FOOD BANK Somerset, NJ	FUNDING FOR WAREHOUSE PROJECT AND STORAGE	$5,000
NEW BRUNSWICK HEALTH SCIENCES TECHNOLOGY HS New Brunswick, NJ	FUNDING FOR SCHOLARSHIPS AND EDUCATIONAL RESOURCES	$5,000
TRIPLE C HOUSING INC North Brunswick, NJ	FUNDING FOR MATERIALS FOR POP UP PANTRY FOR RESIDENTS	$5,000
DUNELLEN LIONS CLUB Dunellen, NJ	FUNDING TO SUPPORT GROUPS PROGRAMS TO HELP THOSE WITH DISABILITIES	$3,000
FIRST TEE RARITAN VALLEY Kenilworth, NJ	FUNDING FOR YOUTH PROGRAMS	$3,000
CENTER FOR GREAT EXPECTATIONS INC Somerset, NJ	FUNDING FOR COUNSELING SUPPORT AND RESIDENTIAL PROGRAMS	$2,500
ELIJAH'S PROMISE New Brunswick, NJ	FUNDING FOR MEAL SERVICES	$2,500

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
John Reissner	President	0.15	—
Jon R Ansari	V.P. & Treasurer	0.15	—
Robin E Suydam	Corporate Secretary & Director	0.15	—
John S Fitzgerald	Class I Board Member	0.15	—
Deborah S Alexander	Class II Board Member	0.15	—
Thomas Lankey	Class II Board Member	0.15	—
Sarah Chaplin	Class III Board Member	0.15	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Magyarbank Charitable Foundation?

Magyarbank Charitable Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in New Brunswick, NJ. It holds $684K in total assets as of 2024.

How large is Magyarbank Charitable Foundation?

As of 2024, Magyarbank Charitable Foundation holds $684K in total assets with $32K in annual revenue. It awarded 24 grants totaling $71K in 2024.

Where does Magyarbank Charitable Foundation operate?

Magyarbank Charitable Foundation has awarded grants in Michigan, New Jersey.

What size grants does Magyarbank Charitable Foundation award?

In 2024, Magyarbank Charitable Foundation awarded 24 grants totaling $71K — an average of about $3K per grant, based on its IRS Form 990 filings.

How much is Magyarbank Charitable Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Magyarbank Charitable Foundation reported a distributable amount of $34K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

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 2020–2024.