Salvation Army Magness Trust Fund
Salvation Army Magness Trust Fund is a private foundation, based in FRANKLIN, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.5M in total assets. In 2024, it awarded 1 grants totaling $98K. Net investment income was $52K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.5M
-2.9% YoY
Annual Giving
$98K
+2.6% YoY
Grant Count
1
+0.0% YoY
Avg Grant Size
$98K
+2.6% YoY
Under IRS private-foundation payout rules, Salvation Army Magness Trust Fund reported a distributable amount of $100K for 2024 — the minimum it must pay out in qualifying distributions.
About Salvation Army Magness Trust Fund
Based on IRS filings
Salvation Army Magness Trust Fund is a private foundation, based in FRANKLIN, TN. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $1.5M in total assets. In 2024, it awarded 1 grants totaling $98K. Net investment income was $52K.
Ready to take the next step with Salvation Army Magness Trust Fund?
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 | $1,506,357 | $1,551,881 | $1,629,913 |
| Revenue | $85,507 | $47,304 | $35,808 |
| Expenses | $130,807 | $125,582 | $117,628 |
| Qualifying Distributions | $98,173 | $95,640 | $90,503 |
| Net Investment Income | $51,594 | $18,295 | $25,526 |
| Distributable Amount | $100,224 | $91,023 | $95,495 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 1 recipients in 2024
Grant Size Distribution
5 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Salvation Army ($98,173).
| Recipient | Purpose | Amount |
|---|---|---|
| Salvation Army Norcross, GA | General support | $98,173 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Claiborne K McLemore III | Trustee | 1 | $2,450 |
| Ernest Smallman III | Trustee | 1 | $2,450 |
Frequently Asked Questions
How large is Salvation Army Magness Trust Fund?
As of 2024, Salvation Army Magness Trust Fund holds $1.5M in total assets with $86K in annual revenue. It awarded 1 grants totaling $98K in 2024.
Where does Salvation Army Magness Trust Fund operate?
Salvation Army Magness Trust Fund has awarded grants in Georgia.
What size grants does Salvation Army Magness Trust Fund award?
In 2024, Salvation Army Magness Trust Fund awarded 1 grants totaling $98K — an average of about $98K per grant, based on its IRS Form 990 filings.
How much is Salvation Army Magness Trust Fund required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Salvation Army Magness Trust Fund reported a distributable amount of $100K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Salvation Army Magness Trust Fund's EIN?
Salvation Army Magness Trust Fund's EIN (Employer Identification Number) is 62-6033090. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Salvation Army Magness Trust Fund'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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