The Peter Magnone Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FORT LEE, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $888K in total assets. In 2024, it awarded 6 grants totaling $248K. Net investment income was $6K.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$888K
+7.4% YoY
Annual Giving
$248K
+8166.7% YoY
Grant Count
6
+500.0% YoY
Avg Grant Size
$41K
+1277.8% YoY
About The Peter Magnone Foundation
Based on IRS filings
The Peter Magnone Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FORT LEE, NJ. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $888K in total assets. In 2024, it awarded 6 grants totaling $248K. Net investment income was $6K.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $887,509 | $826,699 | $686,904 |
| Revenue | $309,045 | $143,510 | $581 |
| Expenses | $248,235 | $3,715 | $3,216 |
| Qualifying Distributions | $248,000 | $3,000 | $3,000 |
| Net Investment Income | $6,015 | $3,138 | $581 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 6 recipients in 2024
Grant Size Distribution
12 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Ik-joong Kang Foundation Inc ($100,000), St Rita's Roman Catholic Church ($65,000), Tate Americas Foundation ($50,000).
| Recipient | Purpose | Amount |
|---|---|---|
| YOUTH COUNCIL OF FORT LEE FORT LEE, NJ | CONTRIBUTION TO YOUTH COUNCIL | $3,000 |
| IK-JOONG KANG FOUNDATION INC NEW YORK, NY | SUPPORT FOR ART PROGRAM | $100,000 |
| ST RITA'S ROMAN CATHOLIC CHURCH BRONX, NY | CHARITABLE CONTRIBUTION | $65,000 |
| TATE AMERICAS FOUNDATION NEW YORK, NY | SUPPORT FOR ART EXHIBITION | $50,000 |
| MUSEUM OF CONTEMPORARY ART DENVER DENVER, CO | SUPPORT FOR ART EXHIBITION | $25,000 |
| MISSIONARIES OF CHARITY BRONX, NY | CHARITABLE CONTRIBUTION | $5,000 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| SOPHIA MAGNONE | PRESIDENT | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is The Peter Magnone Foundation?
The Peter Magnone Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in FORT LEE, NJ. It holds $888K in total assets as of 2024.
How large is The Peter Magnone Foundation?
As of 2024, The Peter Magnone Foundation holds $888K in total assets with $309K in annual revenue. It awarded 6 grants totaling $248K in 2024.
Where does The Peter Magnone Foundation operate?
The Peter Magnone Foundation has awarded grants in Colorado, New Jersey, New Mexico, New York.
What size grants does The Peter Magnone Foundation award?
In 2024, The Peter Magnone Foundation awarded 6 grants totaling $248K — an average of about $41K per grant, based on its IRS Form 990 filings.
What is The Peter Magnone Foundation's EIN?
The Peter Magnone Foundation's EIN (Employer Identification Number) is 83-2889496. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Peter Magnone Foundation'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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