PAUL AND DANA MAGNO FAMILY FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
PAUL AND DANA MAGNO FAMILY FOUNDATION INC (EIN 27-0755271)
Tax period
2022-07-01 to 2023-06-30
Filed
2024-05-02
IRS object ID
202431239349101613
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-05-02T10:32:19-07:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN261541874PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MAIDA & MAIDA LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1855 PARKWAY AVEAddressLine1Txt
CityEWINGCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08618ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN270755271EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Paul and Dana Magno Family FoundatioBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlPAULBusinessNameControlTxt
Phone6098826874PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1855 Parkway AvenueAddressLine1Txt
CityTrentonCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08618ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDana MagnoPersonNm
Person TitleTrusteePersonTitleTxt
Signature2024-05-02SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstDanaPersonFirstNm
Person LastMagnoPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSharon Thorp CPA MBAPreparerPersonNm
PTINP00967471PTIN
Phone6098826874PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$519,143FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$75,799ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$7InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$7InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$7InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$33,898DividendsRevAndExpnssAmt
Dividends Net Invst Incm$33,898DividendsNetInvstIncmAmt
Dividends Adj Net Incm$33,898DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$38,884NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$170,809GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$38,884CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$148,588TotalRevAndExpnssAmt
Total Net Invst Incm$72,789TotalNetInvstIncmAmt
Total Adj Net Incm$33,905TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,800AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$2,800AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$285TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$285TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$3,230OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$3,230OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$6,315TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,230TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$3,085TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$72,800ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$72,800ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$79,115TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,230TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$75,885TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$69,473ExcessRevenueOverExpensesAmt
Net Investment Income$69,559NetInvestmentIncomeAmt
Adjusted Net Income$33,905AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$22,764SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$24,702SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$24,702SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$112,952CorporateStockBOYAmt
Corporate Stock EOY$105,352CorporateStockEOYAmt
Corporate Stock EOYFMV$132,323CorporateStockEOYFMVAmt
Corporate Bonds BOY$21,300CorporateBondsBOYAmt
Corporate Bonds EOY$21,300CorporateBondsEOYAmt
Corporate Bonds EOYFMV$19,944CorporateBondsEOYFMVAmt
Other Investments BOY$431,580OtherInvestmentsBOYAmt
Other Investments EOY$506,715OtherInvestmentsEOYAmt
Other Investments EOYFMV$342,174OtherInvestmentsEOYFMVAmt
Total Assets BOY$588,596TotalAssetsBOYAmt
Total Assets EOY$658,069TotalAssetsEOYAmt
Total Assets EOYFMV$519,143TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$588,596RetainedEarningBOYAmt
Retained Earning EOY$658,069RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$588,596TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$658,069TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$588,596TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$658,069TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$588,596TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$69,473ExcessRevenueOverExpensesAmt
Subtotal$658,069SubtotalAmt
Tot Net Ast Or Fund Balances EOY$658,069TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (10 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
200 FORTRESS TRANSN & INP2016-04-282022-07-20$4,162$1,779$2,383$2,383
100 VANGUARD FINANCIALS ETFP2021-03-042022-08-23$8,402$8,189$213$213
.5 PROLOGIS INC COMP2021-08-092022-10-13$49$54-$5-$5
500 TRIPLEPOINT VENTURE GROWTHP2016-02-182023-03-10$5,466$5,768-$302-$302
4 UBS AG LEVERAGE SECURITIES CABNP2021-11-302023-02-09$76,595$40,000$36,595$36,595
715 UBS TREASURY PREFERREDP2022-07-012023-01-24$715$715
1272 UBS TREASURY PREFERREDP2022-07-012023-05-02$1,272$1,272
250 UBS TREASURY PREFERREDP2022-07-012023-05-05$250$250
28898 UBS TREASURY PREFERREDP2022-07-012023-06-22$28,898$28,898
45000 UBS TREASURY PREFERREDP2022-07-012023-06-22$45,000$45,000
FieldValueIRS element (for citing)
Capital Gain Net Income$38,884CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$967InvestmentIncomeExciseTaxAmt
Subtotal$967SubtotalAmt
Tax Based On Investment Income$967TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$1,008ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$1,008TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$15EsPenaltyAmt
Overpayment$26OverpaymentAmt
Applied To ES Tax$26AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Dana L MagnoBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone6098826874PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1855 Parkway AveAddressLine1Txt
CityEwingCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08618ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Dana Magno
855 Parkway AvenueEwingNJ08618Trustee0.00$0
Paul J Magno
855 Parkway AvenueEwingNJ08618Trustee0.00$0
James Maida
855 Parkway AvenueEwingNJ08618Trustee0.00$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$0AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$0TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$0AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$0CashDeemedCharitableAmt
Net Vl Noncharitable Assets$0NetVlNoncharitableAssetsAmt
Minimum Investment Return$0MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Tax Based On Investment Income$967TaxBasedOnInvestmentIncomeAmt
Total Tax$967TotalTaxAmt
Distributable Before Adj$967DistributableBeforeAdjAmt
Distributable Before Ded$967DistributableBeforeDedAmt
Distributable As Adjusted$0DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$75,885ExpensesAndContributionsAmt
Qualifying Distributions$75,885QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$0DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$15,876ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$18,145ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$102,132ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$99,107ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$71,213ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$306,473TotalExcessDistributionCyovAmt
Qualifying Distributions$75,885QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Remaining Distri From Corpus$75,885RemainingDistriFromCorpusAmt
Total Corpus$382,358TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$15,876ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$366,482ExcessDistriCyovToNextYrAmt
Excess From Year4$18,145ExcessFromYear4Amt
Excess From Year3$102,132ExcessFromYear3Amt
Excess From Year2$99,107ExcessFromYear2Amt
Excess From Year1$71,213ExcessFromYear1Amt
Excess From Current Year$75,885ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerDana MagnoContributingManagerNm
Contributing ManagerPaul J MagnoContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (14 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Faith Lutheran Church
1801 Grand Central AvenueLavalletteNJ08735NonePublicReligious$16,000
PPBHS - Project Graduation
Laura Herbert DrivePoint PleasantNJ08742NonePublicEducation$750
Memorial Sloan Kettering Cancer Cen
1275 York AveNew YorkNY10065NonePublicMedical Research$2,000
St Judes
262 Danny Thomas PlaceMemphisTN38105NonePublicResearch-Cancer$2,500
Sailing Foundation of New York
PO box 1736WallingfordCT06492NonePublicCommunity$1,000
Jersey Shore Medical Center
1945 Route 33NeptuneNJ07753PublicHealth$1,000
Yampa River Botanical Park
PO Box 776269Steamboat SpringsCO80477NonePublicCommunity$500
NORTHERN OCEAN HABITAT FOR HUMANITY
1214 NJ 37TOMS RIVERNJ08753NonePublicCOMMUNITY$10,000
Rutgers University FDN
335 George Street 4000New BrunswickNJ08901NonePublicCommunity$30,000
Donations of Love
1606 Grand Central Avenue 4LavalletteNJ08735NonePublicAnimal$250
CHILDREN HOSPITAL OF PHILADELPHIA
3401 CIVIC CENTER BLVDPHILADELPHIAPA19104HEALTH$4,000
OCEAN REEF MEDICAL CENTER
50 BARRACUDA LANEKEY LARGOFL33037HEALTH$700
National Class E Scow Association
1027 Tarrant DriveFontanaWI53125NoneCOMMUNITY$3,100
SHARING NETWORK
691 CENTRAL AVENEW PROVIDENCENJ07974NoneORGAN DONATION$1,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$72,800TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$7ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$33,898ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$38,884RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$33,905ExclusionAmt
Related Or Exempt Function Incm$38,884RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$72,789TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryAccounting FeesCategoryTxt
Amt$2,800Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$2,800DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
Bank Fees$3,124$3,124
Office Expense$106$106

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAXESCategoryTxt
Amt$285Amt
Disbursements Charitable Prps$285DisbursementsCharitablePrpsAmt

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