The Peter Magnone Foundation
The Peter Magnone Foundation is a private foundation, based in Fort Lee, NJ. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $1.4M in total assets. In 2025, it awarded 2 grants totaling $65K. Net investment income was $5K.
The Peter Magnone Foundation at a glance
In short: The Peter Magnone Foundation gave $65K across 2 grants in 2025 (avg $33K), mostly in New York. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $65,100
- -73.8% vs 2024
- Grants made (2025)
- 2
- -66.7% vs 2024
- Average grant
- $32,550
- -21.3% vs 2024
- Median grant
- $32,550
- Total assets
- $1,372,431
- +54.6% vs 2024
- Primary geography
- New York (84% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Peter Magnone Foundation funds
How this funder distributes its grants
Top Recipients
Top 2 recipients in 2025
The largest 2025 recipient was St Rita's Roman Catholic Church ($55K). Together the top 2 received $65K.
Grant Size Distribution
12 grants across all recorded years
The most common grant size was under $50K: 8 grants of 12 (67%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 2 itemized grants.
Cities
How The Peter Magnone Foundation gives
- Giving grew 2070% from 2022 to 2025. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $3K (2022) to $248K (2024). In 2025 it made 2 grants totaling $65K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| St Rita's Roman Catholic Church Bronx, NY | Charitable Contribution | $55,000 |
| Youth Council of Fort Lee Fort Lee, NJ | Contribution to Youth Council | $10,100 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income |
|---|---|---|---|---|---|---|---|
| 2025 | $1,372,431 | $550,691 | $65,769 | $65,100 | 2 | $65,100 | $5,271 |
| 2024 | $887,509 | $309,045 | $248,235 | $248,000 | 6 | $248,000 | $6,015 |
| 2023 | $826,699 | $143,510 | $3,715 | $3,000 | 1 | $3,000 | $3,138 |
| 2022 | $686,904 | $581 | $3,216 | $3,000 | 1 | $3,000 | $581 |
| 2021 | $689,539 | $40,065 | $8,981 | $7,000 | 2 | $8,981 | — |
| 2020 | $658,455 | $9,272 | $40,340 | $33,000 | 2 | — | $1,932 |
| 2019 | $689,523 | $720,308 | $30,785 | $29,000 | 3 | — | — |
Leadership & Key People
Officers and directors from IRS filings
The Peter Magnone Foundation is led by Sophia Magnone, President since 2021 (on filings since 2019) — the only officer listed, and uncompensated.
Officers on the 2025 filing
Sophia Magnone
President
Secretary → President, 2021
On filings since 2019
1 hr/week
No compensation reported
Former officers (1)
- Former: Peter Magnone (2019–2020) — President
Data from IRS Form 990 filings, 2019–2025. "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 The Peter Magnone Foundation
How much does The Peter Magnone Foundation give each year?
The Peter Magnone Foundation gave $65K across 2 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $248K across 6 grants.
How large is The Peter Magnone Foundation?
The Peter Magnone Foundation reported $1.4M in total assets on its 2025 IRS Form 990-PF. Its revenue that year was $551K.
Where does The Peter Magnone Foundation operate?
The Peter Magnone Foundation has awarded grants in Colorado, New Jersey, New Mexico, New York.
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 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(3)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2019 (received by the IRS November 11, 2021)
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2020–2024
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