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Also known as: FOUNDATION
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Magnifi Financial Foundation is a private corporation based in MELROSE, MN. The foundation received its IRS ruling in 2014. It holds total assets of $797K. Annual income is reported at $158K. Total assets have grown from N/A in 2013 to $797K in 2024. The foundation is governed by 5 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. Tax records are available from 2016 to 2024. Grantmaking is concentrated in Minnesota. According to available records, Magnifi Financial Foundation has made 15 grants totaling $93K, with a median grant of $7K. Annual giving has grown from $20K in 2021 to $27K in 2023. Grantmaking activity was highest in 2022 with $46K distributed across 8 grants. Individual grants have ranged from $2K to $10K, with an average award of $6K. The foundation has supported 11 unique organizations. Grant recipients are concentrated in Minnesota. Contributions to this foundation are tax-deductible.
Smallest Grant
$2K
Median Grant
$3K
Average Grant
$4K
Largest Grant
$9K
Based on 5 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Magnifi Financial Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 15 grants. Its grantmaking reaches organizations primarily in MN.
Magnifi Financial Foundation has distributed a total of $93K across 15 grants. The median grant size is $7K, with an average of $6K. Individual grants have ranged from $2K to $10K.
The application deadline is NOT APPLICABLE. Not applicable.
Magnifi Financial Foundation is headquartered in MELROSE, MN.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Gary Meyer | Secretary | $0 | $0 | N/A |
| Corey Sand | Director | $0 | $0 | N/A |
| Janelle Borgmann | Treasurer | $0 | $0 | N/A |
| Charles B Friederichs | President | $0 | $0 | N/A |
| Nancy L Roske | Vice President | $0 | $0 | N/A |
Total Giving
N/A
Total Assets
$797K
Fair Market Value
N/A
Net Worth
$797K
Grants Paid
N/A
Contributions
N/A
Net Investment Income
N/A
Distribution Amount
N/A
Total Grants
15
Total Giving
$93K
Average Grant
$6K
Median Grant
$7K
Unique Recipients
11
Most Common Grant
$7K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Richmond Lions ClubRICHMOND LIONS PARK UPGRADES | Richmond, MN | $10K | 2023 |
| Avon Caps Committee Avon ParentsstaPLAYGROUND EQUIPMENT FOR A MORE INCLUSIVE PLAYGROUND | Avon, MN | $10K | 2023 |
| Eagle'S Healing NestGENERAL DONATION FOR ONGOING VETERANS' PROGRAMS/TREATMENTS | Sauk Centre, MN | $7K | 2023 |
| The Waters ChurchPARK IMPROVEMENTS | Sartell, MN | $7K | 2022 |
| City Of PaynesvillePARK SHELTER CONSTRUCTION | Paynesville, MN | $7K | 2022 |
| City Of MelrosePARK IMPROVEMENTS | Melrose, MN | $7K | 2022 |
| Perham Area Community Lions ClubPUBLIC RESTROOM CONSTRUCTION | Perham, MN | $2K | 2022 |
| Someplace SafeDOMESTIC VIOLENCE HELP | Wadena, MN | $5K | 2021 |
| Hands Of Hope Resource CenterDOMESTIC VIOLENCE HELP | Little Falls, MN | $5K | 2021 |
| Pathways 4 YouthYOUTH PROGRAMS | St Cloud, MN | $5K | 2021 |
| Nicholas P Koenig Hero FoundationMEDICAL RESEARCH | Richmond, MN | $5K | 2021 |