MG2 Foundation
MG2 Foundation is a private foundation based in Seattle, Washington. Its 2024 grants included support for cancer research and care, scholarships and education, housing, community organizations, and other charitable purposes.
MG2 Foundation at a glance
In short: MG2 Foundation gave $270K across 19 grants in 2024 (avg $14K), mostly in Washington. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $270,108
- +0.2% vs 2023
- Grants made (2024)
- 19
- -13.6% vs 2023
- Average grant
- $14,216
- +16.0% vs 2023
- Median grant
- $5,000
- Total assets
- $1,020,639
- -1.5% vs 2023
- Primary geography
- Washington (91% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026.
How to apply to MG2 Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 1101 Second Ave 100, Seattle, WA 98101
Phone: (206) 962-6500
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who MG2 Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Fred Hutchinson Cancer Center ($175K). Together the top 10 received $240K.
Organizations only. It also paid 1 individual scholarship ($21,000), which are not listed by name.
Grant Size Distribution
48 grants across all recorded years
The most common grant size was under $50K: 43 grants of 48 (90%).
Geographic Focus
Where this funder awards grants
In 2024, 91% of grant dollars went to recipients in Washington. The remaining shares were 5% to Washington, DC, 3% to Georgia, 1% to New York, and less than 1% to California.
Grant Distribution by State
Share of 2024 grant dollars across all 19 itemized grants.
Cities
How MG2 Foundation gives
- 53% of 2024 grantees were also funded in 2023. Method
- Giving grew 91% from 2021 to 2024. Method
- In 2024 it paid out 628% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2024). 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 2024, annual grant giving ranged from $106K (2020) to $270K (2024). In 2024 it made 19 grants totaling $270K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Fred Hutchinson Cancer Center Seattle, WA | General Purpose | $175,200 |
| 1 individual scholarship Recipients not named | — | $21,000 |
| Costco Scholarship Fund Bellevue, WA | Scholarship | $15,000 |
| Friends of Costco Guild Seattle, WA | General Purpose | $10,000 |
| Howard University College of Engineering and Architecture Washington, DC | Gift for Scholarship | $10,000 |
| The Home Depot Foundation Atlanta, GA | Store Support | $7,000 |
| United Way of King County Seattle, WA | Ee Donation Match | $5,158 |
| College Success Foundation Bellevue, WA | 2024 Breakfast Fundraiser Sponsorship | $5,000 |
| Habitat for Humanity Renton, WA | General Purpose | $5,000 |
| Seattle Design Festival Seattle, WA | Gold Level Sponsorship | $5,000 |
Ready to take the next step with MG2 Foundation?
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 | $1,020,639 | $364,628 | $380,271 | $270,108 | 19 | $372,511 | $38,893 | $59,336 |
| 2023 | $1,036,441 | $295,915 | $391,553 | $269,550 | 22 | $381,190 | $9,051 | $56,272 |
| 2022 | $1,132,079 | $257,665 | $241,085 | $155,000 | 2 | $241,005 | $1,140 | $59,366 |
| 2021 | $1,115,499 | $129,177 | $141,144 | $141,074 | 3 | $141,074 | $534 | $57,068 |
| 2020 | $1,127,466 | $1,113,709 | $106,180 | $106,110 | 2 | — | $30 | $9,967 |
| 2019 | $119,937 | $242,428 | $211,759 | $145,550 | 3 | — | — | $8,076 |
Under IRS private-foundation payout rules, MG2 Foundation reported a distributable amount of $59K for 2024 — 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 2024 grants show support for organizations with varied missions. Fred Hutchinson Cancer Center says it unites innovative research and compassionate care to prevent and eliminate cancer and infectious disease. College Success Foundation says it provides support and scholarships to help underserved, low-income students finish high school, graduate from college, and succeed in life. Habitat for Humanity describes its mission as providing decent and affordable housing to eligible families in partnership with families and the community.
Other 2024 recipients include United Way of King County, which says it works alongside communities to build an equitable future, and READ Alliance, which says it accelerates early-elementary students’ educational trajectories through teen-led literacy tutoring in under-resourced communities.
Grantmaking
In filing year 2024, the foundation made 19 grants totaling $270,108. Grants ranged from $500 to $175,200, with a median grant of $5,000. The largest award was $175,200 to Fred Hutchinson Cancer Center for general purposes. Other notable grants included $21,000 to Lake Washington Institute of Technology Foundation for the LW scholarship; $15,000 to Costco Scholarship Fund for scholarships; $10,000 to Friends of Costco Guild for general purposes; and $10,000 to Howard University College of Engineering and Architecture for a scholarship.
Additional 2024 grants included $5,158 to United Way of King County for an employee donation match; $5,000 each to College Success Foundation for a breakfast fundraiser sponsorship, Habitat for Humanity for general purposes, and Seattle Design Festival for gold-level sponsorship; and $2,500 each to Lupus Foundation of America and READ Alliance.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Jerry Lee as executive director, Mitchell Smith as chair, and Russ Hazzard and Wendy Unzelman as directors.
MG2 Foundation is led by Jerry Lee, Executive Director since 2021 (on filings since 2019); none of the 4 officers listed in 2024 report compensation.
Officers on the 2024 filing
Jerry Lee
Executive Director
Director → Executive Director, 2021
On filings since 2019
0.5 hrs/week
No compensation reported
Mitchell Smith
Chair
Director & President → Chair, 2021
On filings since 2019
1 hr/week
No compensation reported
Russ Hazzard
Director
On filings since 2021
1 hr/week
No compensation reported
Wendy Unzelman
Director
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2019–2024. "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 MG2 Foundation
How much does MG2 Foundation give each year?
MG2 Foundation gave $270K across 19 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $270K across 22 grants.
What is MG2 Foundation's typical grant size?
MG2 Foundation's median grant in 2024 was $5,000, and its average grant was $14,216, across 19 grants on its 2024 IRS Form 990-PF.
Where does MG2 Foundation give grants?
MG2 Foundation gives mostly in Washington: 91% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was District of Columbia (5%). The most frequent recipient cities were Seattle, WA (8 grants), Washington, DC (3 grants) and Bellevue, WA (2 grants).
Does MG2 Foundation give general operating support?
Yes: 32% of MG2 Foundation's 2024 grants with a stated purpose (6 of 19) were for general or operating support, per its 2024 IRS Form 990-PF.
Who are MG2 Foundation's largest grantees?
MG2 Foundation's largest 2024 grantees include Fred Hutchinson Cancer Center ($175,200), Costco Scholarship Fund ($15,000) and Friends of Costco Guild ($10,000), according to its 2024 IRS Form 990-PF. It also paid 1 individual scholarship ($21,000), which are not listed by name. Together they received 74% of its itemized 2024 grant dollars.
How large is MG2 Foundation?
MG2 Foundation reported $1.0M in total assets on its 2024 IRS Form 990-PF. It paid out $373K in qualifying distributions that year, against a required minimum of $59K (roughly 5% of its investment assets).
What does MG2 Foundation fund?
No mission statement for the foundation is provided. Its 2024 grants show support for organizations with varied missions. Fred Hutchinson Cancer Center says it unites innovative research and compassionate care to prevent and eliminate cancer and infectious disease. See mission & focus areas ↑
How do I apply for a grant from MG2 Foundation?
The foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is MG2 Foundation's EIN?
MG2 Foundation's EIN (Employer Identification Number) is 46-2377082. IRS Form 990 filing data is available on this page for 2019–2024.
Does MG2 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
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS June 10, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 14, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 16, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS October 1, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS June 16, 2025)
- IRS filings on file for fiscal years 2019–2024
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Cite this profile
Grantable. (2026). MG2 Foundation funder profile. GrantGraph. Retrieved October 14, 2026, from https://grantable.co/funders/mg2-foundation-morg_dd7dfcce3756435a8a9a918c4bbad2b9
BibTeX
@misc{grantable_462377082_2026,
author = {{Grantable}},
title = {{MG2 Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/mg2-foundation-morg_dd7dfcce3756435a8a9a918c4bbad2b9},
note = {Accessed 2026-10-14. 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 MG2 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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