MAGARO FAMILY FOUNDATION INC: Form 990PF, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
MAGARO FAMILY FOUNDATION INC (EIN 46-1558048)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-15
IRS object ID
202333199349105498
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)
Return2023-11-15T15:31:04-05:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN275365387PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1THE TREBING LAW CENTERBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line183 WOOSTER HEIGHTS ROAD SUITE 125AddressLine1Txt
CityDANBURYCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06810ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461558048EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE MAGARO FOUNDATION INCBusinessNameLine1Txt
Business Name Line2C/O AL P TREBING ESQBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlMAGABusinessNameControlTxt
Phone4752897837PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line183 WOOSTER HEIGHTS ROAD SUITE 125AddressLine1Txt
CityDANBURYCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06810ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonAL P TREBING ESQPersonNm
Person TitleSECRETARYPersonTitleTxt
Phone4752897837PhoneNum
Signature2023-11-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstALPersonFirstNm
Person LastTREBINGPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonAL P TREBING ESQPreparerPersonNm
PTINP01394841PTIN
Phone4752897837PhoneNum
Preparation2023-11-15PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$33,815,749FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$1,781InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$1,781InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$79,235DividendsRevAndExpnssAmt
Dividends Net Invst Incm$79,235DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$14,505NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$29,074GrossSalesPriceAmt
Total Rev And Expnss$95,521TotalRevAndExpnssAmt
Total Net Invst Incm$81,016TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$7,196LegalFeesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$7,196TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$1,341,200ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$1,341,200ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$1,348,396TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$1,341,200TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,252,875ExcessRevenueOverExpensesAmt
Net Investment Income$81,016NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$1,150,974SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$877,813SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$877,813SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$29,326,728OtherInvestmentsBOYAmt
Other Investments EOY$28,361,583OtherInvestmentsEOYAmt
Other Investments EOYFMV$32,937,936OtherInvestmentsEOYFMVAmt
Total Assets BOY$30,477,702TotalAssetsBOYAmt
Total Assets EOY$29,239,396TotalAssetsEOYAmt
Total Assets EOYFMV$33,815,749TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$30,477,702NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$29,239,396NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$30,477,702TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$29,239,396TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$30,477,702TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$29,239,396TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$30,477,702TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,252,875ExcessRevenueOverExpensesAmt
Other Increases$14,569OtherIncreasesAmt
Subtotal$29,239,396SubtotalAmt
Tot Net Ast Or Fund Balances EOY$29,239,396TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,126InvestmentIncomeExciseTaxAmt
Subtotal$1,126SubtotalAmt
Tax Based On Investment Income$1,126TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$46,433EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$46,433TotalPaymentsAndCreditsAmt
Overpayment$45,307OverpaymentAmt
Applied To ES Tax$45,307AppliedToESTaxAmt

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
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateCTOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
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 Line1AL P TREBING ESQBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone4752897837PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line183 WOOSTER HEIGHTS ROADAddressLine1Txt
Address Line2SUITE 125AddressLine2Txt
CityDANBURYCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06810ZIPCd
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
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/AddressLine1TxtAddress Line2USAddress/AddressLine2TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
ALEX MAGARO
C/O THE TREBING LAW CENTER83 WOOSTER HEIGHTS ROAD SUITE 125DANBURYCT06810DIRECTOR000.00$0$0$0
AL P TREBING ESQ
THE TREBING LAW CENTER83 WOOSTER HEIGHTS ROAD SUITE 125DANBURYCT06810SECRETARY000.00$0$0$0
DIVIYA MAGARO
C/O THE TREBING LAW CENTER83 WOOSTER HEIGHTS ROAD SUITE 125DANBURYCT06810PRESIDENT/TR000.00$0$0$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1DONATIONSDescription1Txt
Expenses1$1,341,200Expenses1Amt
Description2DONATIONSDescription2Txt
Expenses2$1,341,200Expenses2Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1INVESTMENTSDescription1Txt
Expenses1$35,701,304Expenses1Amt
Total$35,701,304TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$34,761,541AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$939,773AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$35,701,314TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$35,701,314AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$535,520CashDeemedCharitableAmt
Net Vl Noncharitable Assets$35,165,794NetVlNoncharitableAssetsAmt
Minimum Investment Return$1,758,290MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$1,341,200ExpensesAndContributionsAmt
Program Related Invst Total$35,701,304ProgramRelatedInvstTotalAmt
Qualifying Distributions$37,042,504QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$37,042,504QualifyingDistributionsAmt
Remaining Distri From Corpus$37,042,504RemainingDistriFromCorpusAmt
Total Corpus$37,042,504TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$37,042,504CurrentYearAmt
Year1$4,558,983Year1Amt
Year2$591,000Year2Amt
Year3$632,740Year3Amt
Total$42,825,227TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$37,042,504CurrentYearAmt
Year1$4,558,983Year1Amt
Year2$591,000Year2Amt
Year3$632,740Year3Amt
Total$42,825,227TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$1,172,193CurrentYearAmt
Year1$1,409,440Year1Amt
Year2$1,312,095Year2Amt
Year3$967,716Year3Amt
Total$4,861,444TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (10 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmtAddress Line2RecipientUSAddress/AddressLine2Txt
PROOF SCHOOL
555 POST STREETSAN FRANCISCOCA94102NONEPCDONATION$125,000
RADCLIFFE INSTITUTE
10 GARDEN STREETCAMBRIDGEMA02138NONEPCDONATION$10,000
VENDANTA SOCIETY OF NORTH TEXAS
125 WEST SCOTLAND DRIVEIRVINGTX75062NONEPCDONATION$1,200
MARIN COUNTY FOOD BANK
900 PENNSYLVANIA AVENUESAN FRANCISCOCA94107NONEPCDONATION$25,000
UCSF FOUNDATION
2001 THE EMBARCADEROSAN FRANCISCOCA94133NONEPCDONATION$50,000THIRD FLOOR
UNIVERSITY OF AUSTIN
2112 RIO GRANDE STREETAUSTINTX78705NONEPCDONATION$1,100,000
MISES INSTITUTE
518 WEST MAGNOLIA AVENUEAUBURNAL36832NONEPCDONATION$10,000
CLAREMONT INSTITUTE
SUITE 120UPLANDCA91786NONEPCDONATION$5,000WEST FOOTHILL BOULEVARD
ALBERTUS MAGNUS INSTITUTE
836 57TH STREETSACRAMENTOCA95819NONEPCDONATION$5,000SUITE 1115
HILLSDALE COLLEGE
33 EAST COLLEGE STREETHILLSDALEMI49242NONEPCDONATION$10,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$1,341,200TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,781RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$79,235RelatedOrExemptFunctionIncmAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$14,505RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$95,521RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$95,521TotalIncomeProducingActyAmt

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

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp

FieldValueIRS element (for citing)
Asset.3775 MEDALLION LP UNITSAssetDesc
Acquired2018-03AcquiredDt
How AcquiredPURCHASEHowAcquiredTxt
Sold2022-06SoldDt
Gross Sales Price$29,074GrossSalesPriceAmt
Basis$14,569BasisAmt
Total Net$14,505TotalNetAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (4 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
JP MORGAN CHASEAT COST$3,712,586$3,758,675
MENDOCINO OFFSHORE LPAT COST$24,632,771$29,179,261
MEDALLION LP
BOOK-TAX DIFFERENCESAT COST$16,226

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$7,196LegalFeesAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescBOOK-TAX ADJUSTMENTSDesc
Amt$14,569Amt

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