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Magyar Bank Charitable Foundation is a private corporation based in NEW BRUNSWICK, NJ. The foundation received its IRS ruling in 2007. The principal officer is Jay Castillo. It holds total assets of $684K. Annual income is reported at $164K. Total assets have decreased from $1.2M in 2010 to $664K in 2022. The foundation is governed by 7 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. Grantmaking is concentrated in New Jersey. According to available records, Magyar Bank Charitable Foundation has made 72 grants totaling $226K, with a median grant of $3K. Annual giving has grown from $58K in 2020 to $71K in 2023. Grantmaking activity was highest in 2022 with $97K distributed across 26 grants. Individual grants have ranged from $600 to $30K, with an average award of $3K. The foundation has supported 52 unique organizations. Grant recipients are concentrated in New Jersey. Contributions to this foundation are tax-deductible.
Smallest Grant
$1K
Median Grant
$3K
Average Grant
$3K
Largest Grant
$6K
Based on 22 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.
Magyar Bank Charitable Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 72 grants. Its grantmaking reaches organizations primarily in NJ.
Magyar Bank Charitable Foundation has distributed a total of $226K across 72 grants. The median grant size is $3K, with an average of $3K. Individual grants have ranged from $600 to $30K.
Magyar Bank Charitable Foundation typically selects its grantees rather than accepting unsolicited proposals.
Magyar Bank Charitable Foundation is headquartered in NEW BRUNSWICK, NJ.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| John Reissner | PRESIDENT | $0 | $0 | N/A |
| Jon R Ansari | V.P. & TREASURER | $0 | $0 | N/A |
| Robin E Suydam | CORPORATE SECRETARY & DIRECTOR | $0 | $0 | N/A |
| John S Fitzgerald | CLASS I BOARD MEMBER | $0 | $0 | N/A |
| Deborah S Alexander | CLASS II BOARD MEMBER | $0 | $0 | N/A |
| Thomas Lankey | CLASS II BOARD MEMBER | $0 | $0 | N/A |
| Sarah Chaplin | CLASS III BOARD MEMBER | $0 | $0 | N/A |
Total Giving
$87K
Total Assets
$664K
Fair Market Value
$664K
Net Worth
$632K
Grants Paid
$71K
Contributions
$100
Net Investment Income
$116K
Distribution Amount
$37K
Total Grants
72
Total Giving
$226K
Average Grant
$3K
Median Grant
$3K
Unique Recipients
52
Most Common Grant
$3K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| State Theatre Regional Arts Center At New Brunswick IncSUPPORT FOR CLASSICAL PROGRAMS, UKRAIN AND REC CROSS | New Brunswick, NJ | $10K | 2023 |
| New Brunswick Health Sciences Tech HsSUPPORT SCHOLARSHIP AWARDS PROGRAM | New Brunswick, NJ | $5K | 2023 |
| Brain Injury Alliance Of New Jersey IncSUPPORT FOR THE BRAIN INJURY PROGRAM | North Brunswick, NJ | $5K | 2023 |
| Central Jersey Housing Resource CenterSUPPORT FOR HOUSING PROGRAM | Somerville, NJ | $5K | 2023 |
| Triple C Housing IncSUPPORT FOR FAMILIES AT PENNROSE TRUMAN SQUARE HOUSING DEVELOPMENT | North Brunswick, NJ | $5K | 2023 |
| Dunellen Lions ClubSUPPORT FOR PEOPLE WITH SIGHT AND HEARING DIFFICULTIES | Dunellen, NJ | $4K | 2023 |
| American Hungarian FoundationSUPPORT FOR ANNUAL FESTIVAL AND CULTURAL ACTIVITIES | New Brunswick, NJ | $3K | 2023 |
| Embrace Kids FoundationSUPPORT FOR HOUSING PROGRAM | New Brunswick, NJ | $3K | 2023 |
| Raritan Velley Habitat For HumanitySUPPORT FOR HOUSING PROGRAM | Pluckemin, NJ | $3K | 2023 |
| New Jersey State Federation Of Womens ClubsSUPPORT GIRL'S CAREER INSTITUTE PROGRAMS | New Brunswick, NJ | $3K | 2023 |
| Town Clock Community Development Corporation IncSUPPORT FOR HOUSING PROGRAM | New Brunswick, NJ | $3K | 2023 |
| Lower Raritan Watershed PartnershipSUPPORT FOR LOCAL YOUTH PROGRAM | New Brunswick, NJ | $3K | 2023 |
| Ymca Of Metuchen Edison Woodbridge And South AmboySUPPORT FOR TEEN LEADERS CLUB | Metuchen, NJ | $3K | 2023 |
| Jewish Community Center Of Middlesex CountySUPPORT MEALS ON WHEELS FOR SENIOR ADULTS | Somerville, NJ | $3K | 2023 |
| Caritas Program At Holy Family ParishSUPPORT FOR COMMUNITY GARDENING AND HEALTHY FOOD PROGRAM | New Brunswick, NJ | $3K | 2023 |
| Casa Of Middlesex CountySUPPORT FOR THE VOLUNTEER PROGRAM | New Brunswick, NJ | $3K | 2023 |
| Homesharing IncSUPPORT FOR HOUSING PROGRAM | Bridgewater, NJ | $3K | 2023 |
| Midland SchoolSUPPORT FOR READING LEARNING PROGRAM | North Branch, NJ | $2K | 2023 |
| New Brunswick Education Foundation IncSUPPORT FOR EDUCATIONAL PROGRAMS | New Brunswick, NJ | $2K | 2023 |
| Middlesex College Foundation IncSUPPORT FOR SCHOLARSHIP PROGRAMS | Edison, NJ | $2K | 2023 |
| Somerville Elks Charitable TrustSUPPORT FOR THE CHILDRENS PROGRAM | Bridgewater, NJ | $2K | 2023 |
| Reconnect Hungary-Hungarian BirthrightSUPPORT FOR HUNGARIAN BIRTHRIGHT PROGRAM | New Brunswick, NJ | $1K | 2023 |
| Score Princeton And Central NjSUPPORT FOR YOUTH PROGRAM FOR GENERAL OPERATIONS | Princeton, NJ | $1K | 2023 |
| Churches Improving CommunitiesSUPPORT NJ INTERFAITH CENTER FOR CANCER | Highland Park, NJ | $3K | 2022 |
| Court Appointed Special Advocates Of New Jersey IncSUPPORT FOR YOUTH EDUCATIONAL TRAINING | New Brunswick, NJ | $3K | 2022 |
| Damon House IncSUPPORT VOCATIONAL REHABILITATION SERVICES | New Brunswick, NJ | $3K | 2022 |
| Down Syndrome Association Of Central Nj IncSUPPORT FOR EDUCATIONAL PROGRAMS | Columbus, NJ | $3K | 2022 |
| Elijah'S PromiseSUPPORT FOOD PROGRAM EMERGENCY FEEDING AND SERVICES | New Brunswick, NJ | $3K | 2022 |
| Greater Somerset County YmcaSUPPORT FOR FOOD SECURITY PROGRAM | Basking Ridge, NJ | $3K | 2022 |
| Archangel Raphael'S Mission IncSUPPORTING FOR HOMELESS, MOBILE HYGIENE PROGRAMS | Edison, NJ | $3K | 2022 |
| Meals On Wheels Of Greater New BrunswickSUPPORT ADULT WITH DISABILITIES MEALS ON WHEELS PROGRAM | New Brunswick, NJ | $3K | 2022 |
| Raritan Valley YmcaSUPPORT FAMILIES PROGRAMS IN JULY | East Brunswick, NJ | $3K | 2022 |
| Women AwareSUPPORT FOR EMERGENCY SHELTER AND HOUSING FOR DOMESTIC VIOLENCE AFFECTED | New Brunswick, NJ | $3K | 2022 |
| Center For Educational AdvancementSUPPORT FOR THE TRANSPORTATION EQUIPMENT | Flemington, NJ | $3K | 2022 |
| The Center For Great Expectations IncSUPPORT FOR DAILY COUNSELING PROGRAM | Somerset, NJ | $3K | 2022 |
| The Hugs For Brady FoundationGENERAL OPERATING SUPPORT | Kendall Park, NJ | $3K | 2022 |
| Who Is My Neighbor IncSUPPORT "CAVE AFTERSCHOOL PROGRAM" | Highland Park, NJ | $3K | 2022 |
| Dress For Success Central New JerseySUPPORT FOR EDUCATIONAL FINANCIAL LITERACY PROGRAMS | Lawrenceville, NJ | $2K | 2022 |
| Hitops IncSUPPORT YOUTH TRAINING PROGRAM | Princeton, NJ | $1K | 2022 |