MAGARO FAMILY FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
MAGARO FAMILY FOUNDATION INC (EIN 46-1558048)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-11-17
IRS object ID
202543219349107769
Schema version
2024v5.0
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)
Return2025-11-17T18:22:57-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

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 Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461558048EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE MAGARO FOUNDATION INCBusinessNameLine1Txt
Business Name Line2AL 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
Signature2025-11-17SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonAL P TREBING ESQPreparerPersonNm
PTINP01394841PTIN
Phone4752897837PhoneNum
Preparation2025-11-17PreparationDt
Self EmployedYes (X)SelfEmployedInd
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$52,230,381FMVAssetsEOYAmt
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$2,207InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$2,207InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$177,610DividendsRevAndExpnssAmt
Dividends Net Invst Incm$177,610DividendsNetInvstIncmAmt
Total Rev And Expnss$179,817TotalRevAndExpnssAmt
Total Net Invst Incm$179,817TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$4,024LegalFeesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$4,024TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$0TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$2,180,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$2,180,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$2,184,024TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$0TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$2,180,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$2,004,207ExcessRevenueOverExpensesAmt
Net Investment Income$179,817NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$547,024SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$545,012SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$545,012SavAndTempCashInvstEOYFMVAmt
Other Investments BOY$28,576,287OtherInvestmentsBOYAmt
Other Investments EOY$26,574,092OtherInvestmentsEOYAmt
Other Investments EOYFMV$51,685,369OtherInvestmentsEOYFMVAmt
Total Assets BOY$29,123,311TotalAssetsBOYAmt
Total Assets EOY$27,119,104TotalAssetsEOYAmt
Total Assets EOYFMV$52,230,381TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$29,123,311NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$27,119,104NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$29,123,311TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$27,119,104TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$29,123,311TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$27,119,104TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$29,123,311TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$2,004,207ExcessRevenueOverExpensesAmt
Subtotal$27,119,104SubtotalAmt
Tot Net Ast Or Fund Balances EOY$27,119,104TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$2,499InvestmentIncomeExciseTaxAmt
Subtotal$2,499SubtotalAmt
Tax Based On Investment Income$2,499TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$42,723EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$42,723TotalPaymentsAndCreditsAmt
Overpayment$40,224OverpaymentAmt
Applied To ES Tax$40,224AppliedToESTaxAmt

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 FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
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
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
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)
Description1CONTRIBUTIONSDescription1Txt
Expenses1$2,180,000Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$3,253,097AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$545,656AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$48,001,255FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$51,800,008TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$51,800,008AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$777,000CashDeemedCharitableAmt
Net Vl Noncharitable Assets$51,023,008NetVlNoncharitableAssetsAmt
Minimum Investment Return$2,551,150MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$2,551,150MinimumInvestmentReturnAmt
Tax Based On Investment Income$2,499TaxBasedOnInvestmentIncomeAmt
Total Tax$2,499TotalTaxAmt
Distributable Before Adj$2,548,651DistributableBeforeAdjAmt
Distributable Before Ded$2,548,651DistributableBeforeDedAmt
Distributable As Adjusted$2,548,651DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$2,180,000ExpensesAndContributionsAmt
Qualifying Distributions$2,180,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$2,548,651DistributableAsAdjustedAmt
Qualifying Distributions$2,180,000QualifyingDistributionsAmt
Applied To Current Year$2,180,000AppliedToCurrentYearAmt
Undistributed Income CY$368,651UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1UNIVERSITY OF AUSTINBusinessNameLine1Txt

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1522 CONGRESS AVENUEAddressLine1Txt
Address Line2SUITE 300AddressLine2Txt
CityAUSTINCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78701ZIPCd
FieldValueIRS element (for citing)
Grant Or Contribution PurposeGENERAL FUNDGrantOrContributionPurposeTxt
Amt$2,180,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$2,180,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,207RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$177,610RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$179,817RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$179,817TotalIncomeProducingActyAmt

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

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (4 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
JP MORGAN CHASEFMV$1,441,141$1,441,141
MENDOCINO OFFSHORE LPAT COST$24,632,771$49,744,048
BOOK / TAX DIFFERENCESAT COST$180$180
FRIENDS OF GALATEA LPAT COST$500,000$500,000

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp

FieldValueIRS element (for citing)
CategoryLEGAL FEESCategoryTxt
Legal Fees$4,024LegalFeesAmt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail

FieldValueIRS element (for citing)
PersonALEX AND DIVIA MAGAROPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line183 WOOSTER HEIGHTS RDAddressLine1Txt
Address Line2SUITE 125AddressLine2Txt
CityDANBURYCityNm
State AbbreviationCTStateAbbreviationCd
ZIP06810ZIPCd

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