PAUL AND DANA MAGNO FAMILY FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
PAUL AND DANA MAGNO FAMILY FOUNDATION INC (EIN 27-0755271)
Tax period
2024-07-01 to 2025-06-30
Filed
2025-11-06
IRS object ID
202533109349100113
Schema version
2024v5.2
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)
Return2025-11-06T06:01:24-08:00ReturnTs
Tax Period End2025-06-30TaxPeriodEndDt

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 Begin2024-07-01TaxPeriodBeginDt

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
Signature2025-11-06SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
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
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$628,520FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$286,115ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$41InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$41InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$41InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$39,379DividendsRevAndExpnssAmt
Dividends Net Invst Incm$39,379DividendsNetInvstIncmAmt
Dividends Adj Net Incm$39,379DividendsAdjNetIncmAmt
Net Gain Sale Ast Rev And Expnss$40,114NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$297,015GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$40,114CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$365,649TotalRevAndExpnssAmt
Total Net Invst Incm$79,534TotalNetInvstIncmAmt
Total Adj Net Incm$39,420TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$3,750AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$3,750AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$1,694TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$1,694TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$5,246OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$5,243OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$10,690TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$5,243TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,444TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$194,942ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$194,942ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$205,632TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$5,243TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$200,386TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$160,017ExcessRevenueOverExpensesAmt
Net Investment Income$74,291NetInvestmentIncomeAmt
Adjusted Net Income$39,420AdjustedNetIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$19,761SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$3,222SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$3,222SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$78,287CorporateStockBOYAmt
Corporate Stock EOY$86,220CorporateStockEOYAmt
Corporate Stock EOYFMV$323,303CorporateStockEOYFMVAmt
Corporate Bonds BOY$21,300CorporateBondsBOYAmt
Other Investments BOY$649,357OtherInvestmentsBOYAmt
Other Investments EOY$839,280OtherInvestmentsEOYAmt
Other Investments EOYFMV$301,995OtherInvestmentsEOYFMVAmt
Total Assets BOY$768,705TotalAssetsBOYAmt
Total Assets EOY$928,722TotalAssetsEOYAmt
Total Assets EOYFMV$628,520TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$768,705RetainedEarningBOYAmt
Retained Earning EOY$928,722RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$768,705TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$928,722TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$768,705TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$928,722TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$768,705TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$160,017ExcessRevenueOverExpensesAmt
Subtotal$928,722SubtotalAmt
Tot Net Ast Or Fund Balances EOY$928,722TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (9 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
UBS BANK OF AMERICA CORPP2018-05-152024-10-23$20,000$21,387-$1,387-$1,387
UBS FTAI AVIATIONP2017-01-062024-09-16$50,750$4,741$46,009$46,009
UBS PROLOGIS INC COMP2021-08-092024-06-26$10,711$11,501-$790-$790
UBS AMERICAN BEACON SOUNDP2017-01-062025-03-17$10,000$13,978-$3,978-$3,978
UBS AMERICAN BEACON SOUNDP2017-03-102025-04-07$31,383$49,141-$17,758-$17,758
UBS HEWLETT PACKARDP2015-10-232025-04-25$814$495$319$319
UBS FTAI AVIATIONP2017-05-242025-06-24$6,784$739$6,045$6,045
ubs 03267 UBS L/t NCP2017-05-052024-08-01$147,403$144,919$2,484$2,484
ubs 03267 UBS L/t NCP2019-05-252024-09-30$19,170$10,000$9,170$9,170
FieldValueIRS element (for citing)
Capital Gain Net Income$40,114CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$1,033InvestmentIncomeExciseTaxAmt
Subtotal$1,033SubtotalAmt
Tax Based On Investment Income$1,033TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$55EsPenaltyAmt
Tax Due$1,088TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

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$517,482AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$33,578AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$551,060TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$551,060AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$8,266CashDeemedCharitableAmt
Net Vl Noncharitable Assets$542,794NetVlNoncharitableAssetsAmt
Minimum Investment Return$27,140MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$27,140MinimumInvestmentReturnAmt
Tax Based On Investment Income$1,033TaxBasedOnInvestmentIncomeAmt
Total Tax$1,033TotalTaxAmt
Distributable Before Adj$26,107DistributableBeforeAdjAmt
Distributable Before Ded$26,107DistributableBeforeDedAmt
Distributable As Adjusted$26,107DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$200,386ExpensesAndContributionsAmt
Qualifying Distributions$200,386QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$26,107DistributableAsAdjustedAmt
Excess Distribution Cyov Yr5$102,132ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$99,107ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$71,213ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr1$77,175ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$349,627TotalExcessDistributionCyovAmt
Qualifying Distributions$200,386QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$26,107AppliedToCurrentYearAmt
Remaining Distri From Corpus$174,279RemainingDistriFromCorpusAmt
Total Corpus$523,906TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$102,132ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$421,774ExcessDistriCyovToNextYrAmt
Excess From Year4$99,107ExcessFromYear4Amt
Excess From Year3$71,213ExcessFromYear3Amt
Excess From Year1$77,175ExcessFromYear1Amt
Excess From Current Year$174,279ExcessFromCurrentYearAmt

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 (17 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Faith Lutheran Church
1801 Grand Central AvenueLavalletteNJ08735NonePublicReligious$36,010
Lavallette Fire Company
125 Washington AvenueLavalletteNJ08735NonePublicCommunity$1,200
Lavalette First Aid
PO 334LavalletteNJ08735NonePublicCommunity$2,000
St Judes
262 Danny Thomas PlaceMemphisTN38105NonePublicResearch-Cancer$2,500
Yampa River Botanical Park
PO Box 776269Steamboat SpringsCO80477NonePublicCommunity$1,000
Save Barnegat Bay
117 HAINES RDTOMS RIVERNJ08753NonePublicCommunity$1,000
US SAILING
1 Roger Williams WayBristolRI02809NonePublicEducational$750
Fulfill Foodbank NJ
3300 NJ-66NeptuneNJ07753NonePublicCommunity$1,000
Rutgers University FDN
335 George Street 4000New BrunswickNJ08901NonePublicCommunity$30,000
The B Foundation
101 Rockland CircleWilmingtonDE19803NonePublicCommunity$400
Stephen Siller Tunnel to Towers Fou
2361 Hyland BoulevardStaten IslandNY10306NonePublicCommunity$2,000
OCEAN REEF MEDICAL CENTER
50 BARRACUDA LANEKEY LARGOFL33037HEALTH$2,000
FULFILL FOODBANK NJ
3300 NJ-66NEPTUNE CITYNJ07753FOOD ASSISTANCE$1,000
Northern Ocean Habitat for Humanity
1201 NJ 166Toms RiverNJ08753NonePCCommunity$10,000
Manasquan River Golf Foundation
843 Riverview DriveBrielleNJ08730NoneEducation$594
Alex's Lemonsde Stand
333 E Lancaster Ave 414WynnewoodPA19096Childhood Cancer$500
RWJ Barnabus
95 Old Short Hills RdWest OrangeNJ07052NonePCHealth & Education$102,988
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$194,942TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$41ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$39,379ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$40,114RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$39,420ExclusionAmt
Related Or Exempt Function Incm$40,114RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$79,534TotalIncomeProducingActyAmt

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$3,750Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$3,750DisbursementsCharitablePrpsAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
Bank Fees$5,046$5,043
Office Expense$200$200

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL TAXESCategoryTxt
Amt$1,694Amt
Disbursements Charitable Prps$1,694DisbursementsCharitablePrpsAmt

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