PAUL AND DANA MAGNO FAMILY FOUNDATION INC: Form 990PF, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
PAUL AND DANA MAGNO FAMILY FOUNDATION INC (EIN 27-0755271)
Tax period
2014-07-01 to 2015-06-30
Filed
2015-10-27
IRS object ID
201543009349100304
Schema version
2014v5.0
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)
Return2015-10-27T10:14:07-07:00ReturnTs
Tax Period End2015-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Maida Mackler LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1139A Old Trenton RdAddressLine1Txt
CityCranburyCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08512ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2014-07-01TaxPeriodBeginDt

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
Signature2015-10-27SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSharon Thorp CPA MBAPreparerPersonNm
PTINP00967471PTIN
Phone6094434409PhoneNum
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$409,352FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$75,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$27,987DividendsRevAndExpnssAmt
Dividends Net Invst Incm$27,987DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$1,596NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$45,889GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,596CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$104,583TotalRevAndExpnssAmt
Total Net Invst Incm$29,583TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$1,200AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$1,200AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$280TaxesRevAndExpnssAmt
Taxes Dsbrs Chrtbl$280TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$4,103OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$4,103OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$5,583TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$4,103TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$1,480TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$17,700ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$17,700ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$23,283TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$4,103TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$19,180TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$81,300ExcessRevenueOverExpensesAmt
Net Investment Income$25,480NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$19,671SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$49,694SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$49,694SavAndTempCashInvstEOYFMVAmt
Corporate Stock BOY$93,741CorporateStockBOYAmt
Corporate Stock EOY$182,361CorporateStockEOYAmt
Corporate Stock EOYFMV$177,090CorporateStockEOYFMVAmt
Other Investments BOY$210,866OtherInvestmentsBOYAmt
Other Investments EOY$173,522OtherInvestmentsEOYAmt
Other Investments EOYFMV$182,568OtherInvestmentsEOYFMVAmt
Other Assets EOY$1OtherAssetsEOYAmt
Total Assets BOY$324,278TotalAssetsBOYAmt
Total Assets EOY$405,578TotalAssetsEOYAmt
Total Assets EOYFMV$409,352TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$324,278RetainedEarningBOYAmt
Retained Earning EOY$405,578RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$324,278TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$405,578TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$324,278TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$405,578TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$324,278TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$81,300ExcessRevenueOverExpensesAmt
Subtotal$405,578SubtotalAmt
Tot Net Ast Or Fund Balances EOY$405,578TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$1,596CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$140NetShortTermCapitalGainLossAmt

Qlfy Und Sect4940e Reduced Tax QlfyUndSect4940eReducedTaxGrp

FieldValueIRS element (for citing)
Liable Section4942 TaxfalseLiableSection4942TaxInd
Adjusted Qlfy Distri Yr1$10,950AdjustedQlfyDistriYr1Amt
Net Vl Noncharitable Assets Yr1$315,602NetVlNoncharitableAssetsYr1Amt
Distribution Yr10.03470DistributionYr1Rt
Adjusted Qlfy Distri Yr2$32,250AdjustedQlfyDistriYr2Amt
Net Vl Noncharitable Assets Yr2$251,525NetVlNoncharitableAssetsYr2Amt
Distribution Yr20.12822DistributionYr2Rt
Adjusted Qlfy Distri Yr3$13,139AdjustedQlfyDistriYr3Amt
Net Vl Noncharitable Assets Yr3$213,891NetVlNoncharitableAssetsYr3Amt
Distribution Yr30.06143DistributionYr3Rt
Adjusted Qlfy Distri Yr4$6,750AdjustedQlfyDistriYr4Amt
Net Vl Noncharitable Assets Yr4$238,272NetVlNoncharitableAssetsYr4Amt
Distribution Yr40.02833DistributionYr4Rt
Total Distribution0.25267TotalDistributionRt
Average Distribution0.06317AverageDistributionRt
Net Vl Noncharitable Assets$396,721NetVlNoncharitableAssetsAmt
Adj Net Vl Noncharitable Assets$25,060AdjNetVlNoncharitableAssetsAmt
Net Investment Income Pct$255NetInvestmentIncomePctAmt
Adj Nonchrtbl Net Invst Incm Pct$25,315AdjNonchrtblNetInvstIncmPctAmt
Qualifying Distributions$19,180QualifyingDistributionsAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$510InvestmentIncomeExciseTaxAmt
Subtotal$510SubtotalAmt
Tax Based On Investment Income$510TaxBasedOnInvestmentIncomeAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Es Penalty$6EsPenaltyAmt
Tax Due$516TaxDueAmt

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
Form990 T FiledfalseForm990TFiledInd
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
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
Business HoldingsfalseBusinessHoldingsInd
Excess Business HoldingsfalseExcessBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Transactions Fail To Qlfy As ExcfalseTransactionsFailToQlfyAsExcInd
Maintained Expenditure RspnsfalseMaintainedExpenditureRspnsInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Proceeds Or Net IncomefalseProceedsOrNetIncomeInd

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$346,277AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$56,485AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$402,762TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$402,762AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$6,041CashDeemedCharitableAmt
Net Vl Noncharitable Assets$396,721NetVlNoncharitableAssetsAmt
Minimum Investment Return$19,836MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$19,836MinimumInvestmentReturnAmt
Tax Based On Investment Income$510TaxBasedOnInvestmentIncomeAmt
Total Tax$510TotalTaxAmt
Distributable Before Adj$19,326DistributableBeforeAdjAmt
Distributable Before Ded$19,326DistributableBeforeDedAmt
Distributable As Adjusted$19,326DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$19,180ExpensesAndContributionsAmt
Qualifying Distributions$19,180QualifyingDistributionsAmt
Adjusted Qualifying Distri$19,180AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$19,326DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$19,447ExcessDistributionCyovYr2Amt
Total Excess Distribution Cyov$19,447TotalExcessDistributionCyovAmt
Qualifying Distributions$19,180QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$19,180AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$146ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$146ExcessDistributionCyovAppCYAmt
Total Corpus$19,301TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$19,301ExcessDistriCyovToNextYrAmt
Excess From Year2$19,301ExcessFromYear2Amt

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 (6 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Faith Lutheran Church
1801 Grand Central AvenueLavalletteNJ08735NonePublicReligious$11,250
PPBHS - Project Graduation
Laura Herbert DrivePoint PleasantNJ08742NonePublicEducation$200
Lavallette Elementary School
105 Brooklyn AvenueLavalletteNJ08635NonePublicCommunity$250
University Of Miami
College RoadCoral GablesFL33124NonePublicEducation$5,000
Lavalette First Aid
PO 334LavalletteNJ08735NonePublicCommunity$500
Save Barnegat Bay
906B Grand Central AveLavelleteNJ08735NoneN/ACommunity$500
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$17,700TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$27,987ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,596RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$27,987ExclusionAmt
Related Or Exempt Function Incm$1,596RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$29,583TotalIncomeProducingActyAmt

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

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum
Contributor PersonPaul and Dana MagnoContributorPersonNm

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1855 Parkway AvenueAddressLine1Txt
CityEwingCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08618ZIPCd
FieldValueIRS element (for citing)
Total Contributions$75,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$1,200Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$1,200DisbursementsCharitablePrpsAmt

Other Assets Schedule OtherAssetsSchedule

Other Assets Schedule OtherAssetsScheduleGrp

FieldValueIRS element (for citing)
DescRoundingDesc
EOY Book Value$1EOYBookValueAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtNet Investment IncomeNetInvestmentIncomeAmt
Bank Fees$3,963$3,963
Office Expense$140$140

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTAXESCategoryTxt
Amt$280Amt
Disbursements Charitable Prps$280DisbursementsCharitablePrpsAmt

Comments

Anonymous: no account or email. Up to 2,000 characters, at most one link. Comments are checked automatically; some wait for review.