The Magnon Foundation

Foundation · Grantmaker Wilmington, DE EIN: 20-3290595

The Magnon Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, DE. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $4.7M in total assets. In 2024, it awarded 5 grants totaling $159K. Net investment income was $218K.

Key facts about The Magnon Foundation

EIN: 20-3290595
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $159,226
Grants made (2024): 5
Average grant: $31,845
Median grant: $8,226
Total assets: $4,673,603
Primary geography: Ohio (85% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

Who The Magnon Foundation funds

By grant dollars, the top recipient states for The Magnon Foundation's 5 itemized 2024 grants were Ohio (85%) and California (15%). The most frequent recipient cities were Riverside, CA (2 grants). 20% of grants with a stated purpose were for general or operating support.

How The Magnon Foundation gives

Giving fell 30% from 2021 to 2024. Method
In 2024 it paid out 104% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

Next steps with The Magnon Foundation

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$4.7M

-0.6% YoY

Annual Giving

$159K

-25.6% YoY

Grant Count

+66.7% YoY

Avg Grant Size

$32K

-55.3% YoY

Under IRS private-foundation payout rules, The Magnon Foundation reported a distributable amount of $234K for 2024 — the minimum it must pay out in qualifying distributions.

About The Magnon 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

Ohio $135K (85%)

California $24K (15%)

Share of all 5 itemized 2024 grant dollars.

States

California Massachusetts Ohio Pennsylvania

Cities

Santa AnaBostonPalm SpringsRiversideCincinnatiJenkintown

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$4,673,603	$4,700,685	$4,894,978
Revenue	$244,661	$67,298	$37,215
Expenses	$271,743	$261,591	$284,012
Qualifying Distributions	$244,095	$229,013	$247,486
Net Investment Income	$218,334	$82,117	$70,646
Distributable Amount	$234,261	$219,583	$228,346

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 5 recipients in 2024

Grant Size Distribution

16 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Fidelity Investments Charitable Gift Fund ($135,000), Palm Springs International Film Society ($10,000), Big Brothers Big Sisters of Orange County and the ($8,226).

Recipient	Purpose	Amount
FIDELITY INVESTMENTS CHARITABLE GIFT FUND Cincinnati, OH	MAGNON FOUNDATION DONOR ADVISOR FUND	$135,000
PALM SPRINGS INTERNATIONAL FILM SOCIETY Palm Springs, CA	Charitable Event	$10,000
BIG BROTHERS BIG SISTERS OF ORANGE COUNTY AND THE Santa Ana, CA	General & Unrestricted (See IN-KIND GRANT general Explanation Attachment)	$8,226
Martin Luther King Jr High Riverside, CA	MLK Jr High Pep Squad	$5,000
RIVERSIDE COMMUNITY COLLEGE DISTRICT FOUNDATION Riverside, CA	Marching Tigers	$1,000

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
Deanna Magnon	Dir, Treas	1	—
David C Stapley	Dir, Pres	1	—
Dennis Wagner	Dir, Sec	1	—
Philip Yanni	Dir, VP	1	—
Jillian Yocum	Dir, VP	1	—
Scott K Yocum	Dir, VP	1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is The Magnon Foundation?

The Magnon Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, DE. It holds $4.7M in total assets as of 2024.

How large is The Magnon Foundation?

As of 2024, The Magnon Foundation holds $4.7M in total assets with $245K in annual revenue. It awarded 5 grants totaling $159K in 2024.

Where does The Magnon Foundation operate?

The Magnon Foundation has awarded grants in California, Massachusetts, Ohio, Pennsylvania.

What size grants does The Magnon Foundation award?

In 2024, The Magnon Foundation awarded 5 grants totaling $159K — an average of about $32K per grant, based on its IRS Form 990 filings.

How much is The Magnon Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Magnon Foundation reported a distributable amount of $234K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.