PAUL AND DANA MAGNO FAMILY FOUNDATION INC: Form 990PF, tax year 2013

View the entire original 990 at ProPublica ↗

Organization
PAUL AND DANA MAGNO FAMILY FOUNDATION INC (EIN 27-0755271)
Tax period
2013-07-01 to 2014-06-30
Filed
2014-10-24
IRS object ID
201402979349100100
Schema version
2013v3.1
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)
Return2014-10-24T05:29:12-07:00ReturnTs
Tax Period End2014-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Maida Mackler LLCBusinessNameLine1

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1139A Old Trenton RdAddressLine1
CityCranburyCity
StateNJState
ZIP Code08512ZIPCode
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2013-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN270755271EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1The Paul and Dana Magno Family FoundatioBusinessNameLine1
FieldValueIRS element (for citing)
Business Name ControlPAULBusinessNameControlTxt
Phone6098826874PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1855 Parkway AvenueAddressLine1
CityTrentonCity
StateNJState
ZIP Code08618ZIPCode

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDana MagnoPersonNm
Person TitleTrusteePersonTitleTxt
Signature2014-10-24SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonSharon Thorp CPA MBAPreparerPersonNm
PTINP00967471PTIN
Phone6094434409PhoneNum
FieldValueIRS element (for citing)
Tax2013TaxYr
Build TS2015-12-30 17:16:21ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$365,412FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$80,000ContriRcvdRevAndExpnssAmt
Dividends Rev And Expnss$14,698DividendsRevAndExpnssAmt
Dividends Net Invst Incm$14,698DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$2,534NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$116,162GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$2,534CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$97,232TotalRevAndExpnssAmt
Total Net Invst Incm$17,232TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$800AccountingFeesRevAndExpnssAmt
Accounting Fees Chrtbl Prps$800AccountingFeesChrtblPrpsAmt
Taxes Rev And Expnss$132TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$3,223OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$3,223OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$4,155TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$3,223TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$800TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$10,950ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$10,950ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$15,105TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$3,223TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$11,750TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$82,127ExcessRevenueOverExpensesAmt
Net Investment Income$14,009NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$39,351SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$19,671SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$19,671SavAndTempCashInvstEOYFMVAmt
Corporate Stock EOY$93,741CorporateStockEOYAmt
Corporate Stock EOYFMV$102,926CorporateStockEOYFMVAmt
Other Investments BOY$202,800OtherInvestmentsBOYAmt
Other Investments EOY$210,866OtherInvestmentsEOYAmt
Other Investments EOYFMV$242,815OtherInvestmentsEOYFMVAmt
Total Assets BOY$242,151TotalAssetsBOYAmt
Total Assets EOY$324,278TotalAssetsEOYAmt
Total Assets EOYFMV$365,412TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow SFAS117Yes (X)OrgDoesNotFollowSFAS117Ind
Retained Earning BOY$242,151RetainedEarningBOYAmt
Retained Earning EOY$324,278RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$242,151TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$324,278TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$242,151TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$324,278TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$242,151TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$82,127ExcessRevenueOverExpensesAmt
Subtotal$324,278SubtotalAmt
Tot Net Ast Or Fund Balances EOY$324,278TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

FieldValueIRS element (for citing)
Capital Gain Net Income$2,534CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss-$205NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$280InvestmentIncomeExciseTaxAmt
Subtotal$280SubtotalAmt
Tax Based On Investment Income$280TaxBasedOnInvestmentIncomeAmt
Tax Due$280TaxDueAmt

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 MagnoBusinessNameLine1
FieldValueIRS element (for citing)
Phone6098826874PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1855 Parkway AveAddressLine1
CityEwingCity
StateNJState
ZIP Code08618ZIPCode
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/AddressLine1CityUSAddress/CityStateUSAddress/StateZIP CodeUSAddress/ZIPCodeTitleTitleTxtAverage 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

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1NJ MEDIA ARTS CENTERDescription1Txt
Expenses1$5,000Expenses1Amt
Description2JERSEY SHORE MEDICAL CENTERDescription2Txt
Expenses2$500Expenses2Amt
Description3AMERICAN RED CROSSDescription3Txt
Expenses3$500Expenses3Amt
Description4AMERICAN HEART ASSOCIATIONDescription4Txt
Expenses4$500Expenses4Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$277,217AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$43,191AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$320,408TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$320,408AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$4,806CashDeemedCharitableAmt
Net Vl Noncharitable Assets$315,602NetVlNoncharitableAssetsAmt
Minimum Investment Return$15,780MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$15,780MinimumInvestmentReturnAmt
Tax Based On Investment Income$280TaxBasedOnInvestmentIncomeAmt
Total Tax$280TotalTaxAmt
Distributable Before Adj$15,500DistributableBeforeAdjAmt
Distributable Before Ded$15,500DistributableBeforeDedAmt
Distributable As Adjusted$15,500DistributableAsAdjustedAmt

Qualifying Distri Part XII QualifyingDistriPartXIIGrp

FieldValueIRS element (for citing)
Expenses And Contributions$11,750ExpensesAndContributionsAmt
Qualifying Distributions$11,750QualifyingDistributionsAmt
Adjusted Qualifying Distri$11,750AdjustedQualifyingDistriAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$15,500DistributableAsAdjustedAmt
Excess Distribution Cyov Yr2$684ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$22,513ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$23,197TotalExcessDistributionCyovAmt
Qualifying Distributions$11,750QualifyingDistributionsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$11,750AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$3,750ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$3,750ExcessDistributionCyovAppCYAmt
Total Corpus$19,447TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov To Next Yr$19,447ExcessDistriCyovToNextYrAmt
Excess From Year1$19,447ExcessFromYear1Amt

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 (16 entries)

Address Line1RecipientUSAddress/AddressLine1CityRecipientUSAddress/CityStateRecipientUSAddress/StateZIP CodeRecipientUSAddress/ZIPCodeRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
Monmouth Medical Center Foundation
300 Second AvenueLong BranchNJ07740NonePublicHealth$500
Juvenile Diabetes Association
28 Kennedy BlvdEast BrunswickNJ08816NonePublicHealth$250
National Sailing Hall of Fame
69 Prince George StAnnapolisMD21401NonePublicCommunity$500
American Heart Association
7272 Greenville AveDallasTX75231NonePublicHealth$200
Memorial Sloan Kettering Cancer Cen
1275 York AveNew YorkNY10065NonePublicMedical Research$500
St Judes Children's Hospital
262 Danny Thomas PlaceMemphisTN38105NonePublicResearch-Cancer$500
NJ Sharing Network
691 Central AvenueNew ProvidenceNJ07974NonePublicMemorial-Team Andrew$250
American Red Cross
1540WestPark AvenueOceanNJ07712NoneCommunity$500
Sailing Foundation of New York
PO box 1736WallingfordCT06492NoneCommunity$250
Jersey Shore Medical Center
1945 Route 33NeptuneNJ07753Health$500
Wounded Warriors Project
4899 Belfort Road Suite 300JacksonvilleFL32256NoneVeterans$250
Yampa River Botanical Park
PO Box 776269Steamboat SpringsCO80477NoneCommunity$500
Save Barnegat Bay
906B Grand Central AveLavelleteNJ08735NoneN/ACommunity$500
Island Heights Sailing Foundation
PO Box 1227Island HeightsNJ08732NonePublicCommunity$500
NJ Media Arts Center
72 Lipman DriveNew BrunswickNJ08901NonePublicEducation$5,000
SEASIDE HEIGHTS FIRE DEPARTMENT
PO BOX 386SEASIDE HEIGHTSNJ07851NonePublicCOMMUNITY$250
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$10,950TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Div And Int From Sec Part VII DivAndIntFromSecPartVIIGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$14,698ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$2,534RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$14,698ExclusionAmt
Related Or Exempt Function Incm$2,534RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$17,232TotalIncomeProducingActyAmt

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 AvenueAddressLine1
CityEwingCity
StateNJState
ZIP Code08618ZIPCode
FieldValueIRS element (for citing)
Total Contributions$80,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
CategoryACCOUNTING FEESCategoryTxt
Amt$800Amt
Net Investment Income$0NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$800DisbursementsCharitablePrpsAmt

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockEQUITIESStockNm
EOY Book Value$93,741EOYBookValueAmt
EOYFMV$102,926EOYFMVAmt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (6 entries)

Category Or ItemCategoryOrItemTxtListed At Cost Or FMVListedAtCostOrFMVCdBook ValueBookValueAmtEOYFMVEOYFMVAmt
USB Investment-MFAT COST$46,525$49,495
OTHER CLOSED ENDS FUNDS & PRODUCTSAT COST$21,696$21,879
Equities Closed End FundsAT COST$21,665$26,654
Equities - Mutual FundsAT COST$66,234$86,270
Fixed Income Mutual FundsAT COST$39,049$39,912
Other- Mutual FundsAT COST$15,697$18,605

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescBank FeesDesc
Revenue And Expenses Per Books$3,223RevenueAndExpensesPerBooksAmt
Net Investment Income$3,223NetInvestmentIncomeAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTAXESCategoryTxt
Amt$132Amt

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