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Also known as: SELIG K SOLOMON
Magnolia Foundation is a private trust based in FLUSHING, NY. The foundation received its IRS ruling in 2010. The principal officer is % Selig K Solomon. It holds total assets of $4.1M. Annual income is reported at $480K. The foundation operates in the area of philanthropy & grantmaking. According to available records, Magnolia Foundation has made 13 grants totaling $1.2M, with a median grant of $20K. Annual giving has decreased from $325K in 2020 to $31K in 2023. Grantmaking activity was highest in 2022 with $806K distributed across 6 grants. Individual grants have ranged from $622 to $380K, with an average award of $91K. The foundation has supported 4 unique organizations. Grant recipients are concentrated in New York. Contributions to this foundation are tax-deductible.
Magnolia Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 13 grants. Its grantmaking reaches organizations primarily in NY.
Magnolia Foundation has distributed a total of $1.2M across 13 grants. The median grant size is $20K, with an average of $91K. Individual grants have ranged from $622 to $380K.
Magnolia Foundation typically selects its grantees rather than accepting unsolicited proposals.
Magnolia Foundation is headquartered in FLUSHING, NY.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Selig K Solomon | PRESIDENT | $0 | $0 | $0 |
| David Z Solomon | TREASURER | $0 | $0 | $0 |
Total Giving
$59K
Total Assets
$4M
Fair Market Value
$4.2M
Net Worth
$4M
Grants Paid
$31K
Contributions
$0
Net Investment Income
$374K
Distribution Amount
$200K
Total: $0
Total Grants
13
Total Giving
$1.2M
Average Grant
$91K
Median Grant
$20K
Unique Recipients
4
Most Common Grant
$20K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Al Kanfei NisharimRELIGIOUS PURPOSES | Flushing, NY | $30K | 2023 |
| Misc Qualifying Contributions Under 1000RELIGIOUS PURPOSES | Flushing, NY | $622 | 2023 |
| Goldman Sachs Gives - Ein Od MilvadoRELIGIOUS PURPOSES | Flushing, NY | $380K | 2022 |
| Jewish Heritage CenterRELIGIOUS PURPOSES | Flushing, NY | $20K | 2022 |
Other foundations that have funded Magnolia Foundation.
| Funder | Amount | Year | Purpose |
|---|---|---|---|
| The Leandro P Rizzuto Foundation | $2K | 2021 | DISASTER RELIEF ASSISTANCE. |
| 2018 | 990PF | View |
| 2017 | 990PF | View |
| 2016 | 990PF | View |
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