MAGARO FAMILY FOUNDATION INC: Form 990PF, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- MAGARO FAMILY FOUNDATION INC (EIN 46-1558048)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202413209349105541
- Schema version
- 2023v5.0
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T16:03:21-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 275365387 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE TREBING LAW CENTER | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 83 WOOSTER HEIGHTS ROAD SUITE 125 | AddressLine1Txt |
| City | DANBURY | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06810 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 461558048 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE MAGARO FOUNDATION INC | BusinessNameLine1Txt |
| Business Name Line2 | AL P TREBING ESQ | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MAGA | BusinessNameControlTxt |
| Phone | 4752897837 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 83 WOOSTER HEIGHTS ROAD SUITE 125 | AddressLine1Txt |
| City | DANBURY | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06810 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | AL P TREBING ESQ | PersonNm |
| Person Title | SECRETARY | PersonTitleTxt |
| Phone | 4752897837 | PhoneNum |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AL P TREBING ESQ | PreparerPersonNm |
| PTIN | P01394841 | PTIN |
| Phone | 4752897837 | PhoneNum |
| Preparation | 2024-11-15 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $47,433,852 | FMVAssetsEOYAmt |
| Method Of Accounting Cash | Yes (X) | MethodOfAccountingCashInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $6,607 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $6,607 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $179,294 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $179,294 | DividendsNetInvstIncmAmt |
| Total Rev And Expnss | $185,901 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $185,901 | TotalNetInvstIncmAmt |
| Legal Fees Rev And Expnss | $7,405 | LegalFeesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $7,405 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $0 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $0 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $355,000 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $355,000 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $362,405 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $0 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Dsbrs Chrtbl | $355,000 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$176,504 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $185,901 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $877,813 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $547,024 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $547,024 | SavAndTempCashInvstEOYFMVAmt |
| Other Investments BOY | $28,361,583 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $28,576,287 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $46,886,828 | OtherInvestmentsEOYFMVAmt |
| Total Assets BOY | $29,239,396 | TotalAssetsBOYAmt |
| Total Assets EOY | $29,123,311 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $47,433,852 | TotalAssetsEOYFMVAmt |
| Total Liabilities EOY | $0 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $29,239,396 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $29,123,311 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $29,239,396 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $29,123,311 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $29,239,396 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $29,123,311 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $29,239,396 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$176,504 | ExcessRevenueOverExpensesAmt |
| Other Increases | $60,419 | OtherIncreasesAmt |
| Subtotal | $29,123,311 | SubtotalAmt |
| Tot Net Ast Or Fund Balances EOY | $29,123,311 | TotNetAstOrFundBalancesEOYAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $2,584 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $2,584 | SubtotalAmt |
| Tax Based On Investment Income | $2,584 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $45,307 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $45,307 | TotalPaymentsAndCreditsAmt |
| Overpayment | $42,723 | OverpaymentAmt |
| Applied To ES Tax | $42,723 | AppliedToESTaxAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | CT | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | Yes (true) | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | N/A | WebsiteAddressTxt |
Persons With Books Name PersonsWithBooksName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AL P TREBING ESQ | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4752897837 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 83 WOOSTER HEIGHTS ROAD | AddressLine1Txt |
| Address Line2 | SUITE 125 | AddressLine2Txt |
| City | DANBURY | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06810 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | Address Line2USAddress/AddressLine2Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|---|
| ALEX MAGARO | |||||||||
| THE TREBING LAW CENTER | 83 WOOSTER HEIGHTS ROAD SUITE 125 | DANBURY | CT | 06810 | DIRECTOR | 000.00 | $0 | $0 | $0 |
| AL P TREBING ESQ | |||||||||
| THE TREBING LAW CENTER | 83 WOOSTER HEIGHTS ROAD SUITE 125 | DANBURY | CT | 06810 | SECRETARY | 000.00 | $0 | $0 | $0 |
| DIVIYA MAGARO | |||||||||
| THE TREBING LAW CENTER | 83 WOOSTER HEIGHTS ROAD SUITE 125 | DANBURY | CT | 06810 | PRESIDENT/TR | 000.00 | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Hghst Pd Empl Or NONE | NONE | CompOfHghstPdEmplOrNONETxt |
| Comp Of Hghst Pd Cntrct Or NONE | NONE | CompOfHghstPdCntrctOrNONETxt |
Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | CONTRIBUTIONS | Description1Txt |
| Expenses1 | $355,000 | Expenses1Amt |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $3,853,418 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $714,113 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $36,214,652 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $40,782,183 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $40,782,183 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $611,733 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $40,170,450 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,008,523 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sect4942j3j5 Fndtn And Frgn Org | Yes (X) | Sect4942j3j5FndtnAndFrgnOrgInd |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $355,000 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $355,000 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Qualifying Distributions | $355,000 | QualifyingDistributionsAmt |
| Remaining Distri From Corpus | $355,000 | RemainingDistriFromCorpusAmt |
| Total Corpus | $355,000 | TotalCorpusAmt |
Private Operating Foundations PrivateOperatingFoundationsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Section4942j3 | Yes (X) | Section4942j3Ind |
Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $0 | CurrentYearAmt |
| Total | $0 | TotalAmt |
Qualifying Distributions QualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $355,000 | CurrentYearAmt |
| Year1 | $37,042,504 | Year1Amt |
| Year2 | $4,558,983 | Year2Amt |
| Year3 | $591,000 | Year3Amt |
| Total | $42,547,487 | TotalAmt |
Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $355,000 | CurrentYearAmt |
| Year1 | $37,042,504 | Year1Amt |
| Year2 | $4,558,983 | Year2Amt |
| Year3 | $591,000 | Year3Amt |
| Total | $42,547,487 | TotalAmt |
Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year | $1,339,015 | CurrentYearAmt |
| Year1 | $1,172,193 | Year1Amt |
| Year2 | $1,409,440 | Year2Amt |
| Year3 | $1,312,095 | Year3Amt |
| Total | $5,232,743 | TotalAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Only Contri To Preselected | Yes (X) | OnlyContriToPreselectedInd |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (6 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt | Address Line2RecipientUSAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|
| PROOF SCHOOL | |||||||
| 555 POST STREET | SAN FRANCISCO | CA | 94102 | PC | DONATION | $50,000 | |
| YALE UNIVERSITY | |||||||
| 55 COLLEGE STREET | NEW HAVEN | CT | 06520 | DONATION | $150,000 | ||
| HARVARD UNIVERSITY | |||||||
| MASCHUSSETS HALL | CAMBRIDGE | MA | 02138 | DONATION | $10,000 | ||
| COLD SPRING HARBOR LABORATORY | |||||||
| ONE BUNGTOWN ROAD | COLD SPRING HARBOR | NY | 11724 | DONATION | $125,000 | ||
| UNIVERSITY OF AUSTIN | |||||||
| 522 CONGRESS AVENUE | AUSTIN | TX | 78701 | ROWING CLUB | $10,000 | SUITE 300 | |
| FOUNDATION FOR INDIVIDUAL RIGHTS | |||||||
| 510 WALNUT STREET | PHILADELPHIA | PA | 19106 | DONATION | $10,000 | SUITE 900 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $355,000 | TotalGrantOrContriPdDurYrAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $6,607 | RelatedOrExemptFunctionIncmAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $179,294 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Incm | $185,901 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $185,901 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (3 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| JP MORGAN CHASE | AT COST | $3,943,516 | $3,943,516 |
| MENDOCINO OFFSHORE LP | AT COST | $24,632,771 | $42,943,312 |
| BOOK / TAX DIFFERENCES |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | LEGAL FEES | CategoryTxt |
| Legal Fees | $7,405 | LegalFeesAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BOO / TAX DIFFERENCES | Desc |
| Amt | $60,419 | Amt |
Comments