PAUL AND DANA MAGNO FAMILY FOUNDATION INC: Form 990PF, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- PAUL AND DANA MAGNO FAMILY FOUNDATION INC (EIN 27-0755271)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2013-11-12
- IRS object ID
- 201343169349100539
- Schema version
- 2012v2.0
- 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
- Form 990-PF
- Accounting Fees Schedule
- Investments Other Schedule2
- Legal Fees Schedule
- Other Expenses Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-11-12T09:10:58-08:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Maida Mackler LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 139A Old Trenton Rd | AddressLine1 |
| City | Cranbury | City |
| State | NJ | State |
| ZIP Code | 08512 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 270755271 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | The Paul and Dana Magno Family Foundatio | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PAUL | NameControl |
| Phone | 6098826874 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 855 Parkway Avenue | AddressLine1 |
| City | Trenton | City |
| State | NJ | State |
| ZIP Code | 08618 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Dana Magno | Name |
| Title | Trustee | Title |
| Date Signed | 2013-11-12 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Sharon Thorp CPA MBA | Name |
| PTIN | P00967471 | PTIN |
| Phone | 6098826874 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exempt PF | X | ExemptPF |
| FMV Assets EOY | 254059 | FMVAssetsEOY |
| Method Of Accounting Cash | X | MethodOfAccountingCash |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contri Received Rev And Expnss | 30000 | ContriReceivedRevAndExpnss |
| Not Required To Attach Schedule B | X | NotRequiredToAttachScheduleB |
| Dividends Rev And Expnss | 9195 | DividendsRevAndExpnss |
| Dividends Net Invst Incm | 9195 | DividendsNetInvstIncm |
| Net Gain Sale Assets Rev And Expnss | -866 | NetGainSaleAssetsRevAndExpnss |
| Gross Sales Price | 31375 | GrossSalesPrice |
| Total Revenue And Expenses | 38329 | TotalRevenueAndExpenses |
| Total Net Investment Income | 9195 | TotalNetInvestmentIncome |
| Legal Fees Rev And Expnss | 1932 | LegalFeesRevAndExpnss |
| Legal Fees Dsbrs Chrtbl Prps | 1932 | LegalFeesDsbrsChrtblPrps |
| Accounting Fees Rev And Expnss | 775 | AccountingFeesRevAndExpnss |
| Accounting Fees Dsbrs Chrtbl Prps | 775 | AccountingFeesDsbrsChrtblPrps |
| Taxes Rev And Expnss | 94 | TaxesRevAndExpnss |
| Other Expenses Rev And Expnss | 2614 | OtherExpensesRevAndExpnss |
| Other Expenses Net Invst Incm | 2614 | OtherExpensesNetInvstIncm |
| Tot Opr Expenses Rev And Expnss | 5415 | TotOprExpensesRevAndExpnss |
| Tot Opr Expenses Net Invst Incm | 2614 | TotOprExpensesNetInvstIncm |
| Tot Opr Expenses Dsbrs Chrtbl Prps | 2707 | TotOprExpensesDsbrsChrtblPrps |
| Contri Gifts Paid Rev And Expnss | 32250 | ContriGiftsPaidRevAndExpnss |
| Contri Gifts Paid Dsbrs Chrtbl Prps | 32250 | ContriGiftsPaidDsbrsChrtblPrps |
| Total Expenses Rev And Expnss | 37665 | TotalExpensesRevAndExpnss |
| Total Expenses Net Invst Incm | 2614 | TotalExpensesNetInvstIncm |
| Total Expenses Dsbrs Chrtbl Prps | 34957 | TotalExpensesDsbrsChrtblPrps |
| Excess Of Revenue Over Expenses | 664 | ExcessOfRevenueOverExpenses |
| Net Investment Income | 6581 | NetInvestmentIncome |
Balance Sheets BalanceSheets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Savings And Temp Cash Invst BOY | 54249 | SavingsAndTempCashInvstBOY |
| Savings And Temp Cash Invst EOY | 39351 | SavingsAndTempCashInvstEOY |
| Savings And Temp Cash Invst EOYFMV | 39351 | SavingsAndTempCashInvstEOYFMV |
| Investments Other BOY | 187238 | InvestmentsOtherBOY |
| Investments Other EOY | 202800 | InvestmentsOtherEOY |
| Investments Other EOYFMV | 214708 | InvestmentsOtherEOYFMV |
| Total Assets BOY | 241487 | TotalAssetsBOY |
| Total Assets EOY | 242151 | TotalAssetsEOY |
| Total Assets EOYFMV | 254059 | TotalAssetsEOYFMV |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Org That Do Not Follow SFAS117 | X | OrgThatDoNotFollowSFAS117 |
| Retained Earnings BOY | 241487 | RetainedEarningsBOY |
| Retained Earnings EOY | 242151 | RetainedEarningsEOY |
| Total Net Assets BOY | 241487 | TotalNetAssetsBOY |
| Total Net Assets EOY | 242151 | TotalNetAssetsEOY |
| Total Liabilities Net Assets BOY | 241487 | TotalLiabilitiesNetAssetsBOY |
| Total Liabilities Net Assets EOY | 242151 | TotalLiabilitiesNetAssetsEOY |
Changes In Net Assets Fund Balances ChangesInNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Net Assets Fund Balances BOY | 241487 | TotalNetAssetsFundBalancesBOY |
| Excess Of Revenue Over Expenses | 664 | ExcessOfRevenueOverExpenses |
| Subtotal | 242151 | Subtotal |
| Total Net Assets Fund Balances EOY | 242151 | TotalNetAssetsFundBalancesEOY |
Capital Gains And Losses CapitalGainsAndLosses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | -866 | CapitalGainNetIncome |
Excise Tax Based On Investment Incm ExciseTaxBasedOnInvestmentIncm
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | 132 | InvestmentIncomeExciseTax |
| Subtotal | 132 | Subtotal |
| Tax Based On Investment Income | 132 | TaxBasedOnInvestmentIncome |
| Tax Due | 132 | TaxDue |
Statements Regarding Activities StatementsRegardingActivities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Activities | false | LegislativePoliticalActivities |
| More Than100 Spent | false | MoreThan100Spent |
| Form1120 POL Filed | false | Form1120POLFiled |
| Activities Not Prev Reported | false | ActivitiesNotPrevReported |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylaws |
| Unrelated Bus Income Over1000 | false | UnrelatedBusIncomeOver1000 |
| Form990 T Filed | false | Form990TFiled |
| Termination Etc | false | TerminationEtc |
| Requirements Of Sect508e | true | RequirementsOfSect508e |
| At Least5000 In Assets | true | AtLeast5000InAssets |
| Form990 PF Filed With AG | true | Form990PFFiledWithAG |
| Private Operating Foundation | false | PrivateOperatingFoundation |
| New Substantial Contributors | false | NewSubstantialContributors |
| Interest In Controlled Entity | false | InterestInControlledEntity |
| Applicable Insurance Contract | false | ApplicableInsuranceContract |
| Comply With Public Inspection Rqr | true | ComplyWithPublicInspectionRqr |
| Website Address | N/A | WebsiteAddress |
Books In Care Of Business Name BooksInCareOfBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Dana L Magno | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Books In Care Of Phone Number | 6098826874 | BooksInCareOfPhoneNumber |
Books In Care Of US Address BooksInCareOfUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 855 Parkway Ave | AddressLine1 |
| City | Ewing | City |
| State | NJ | State |
| ZIP Code | 08618 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Bank | false | ForeignBank |
Statements Regarding Acty4720 StatementsRegardingActy4720
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exchange With Dsqfly Person | false | SaleOrExchangeWithDsqflyPerson |
| Borrow Or Lend With Dsqfly Person | false | BorrowOrLendWithDsqflyPerson |
| Furnished Goods With Dsqfly Person | false | FurnishedGoodsWithDsqflyPerson |
| Pay Compensation To Dsqfly Person | false | PayCompensationToDsqflyPerson |
| Transfer Assets To Dsqfly Person | false | TransferAssetsToDsqflyPerson |
| Payment To Government Offical | false | PaymentToGovernmentOffical |
| Acts Fail To Qualify As Exceptions | false | ActsFailToQualifyAsExceptions |
| Uncorrected Prior Acts | false | UncorrectedPriorActs |
| Undistributed Income Prior Years | false | UndistributedIncomePriorYears |
| Undistr Income4942a2 Not Applied | false | UndistrIncome4942a2NotApplied |
| Business Holdings | false | BusinessHoldings |
| Excess Business Holdings | false | ExcessBusinessHoldings |
| Jeopardy Investments | false | JeopardyInvestments |
| Uncorrected Jeopardy Investments | false | UncorrectedJeopardyInvestments |
| Influence Legislation | false | InfluenceLegislation |
| Influence Election | false | InfluenceElection |
| Grants To Individuals | false | GrantsToIndividuals |
| Grants To Organizations | false | GrantsToOrganizations |
| Noncharitable Purpose | false | NoncharitablePurpose |
| Tr Fail To Qualify As Exceptions | false | TrFailToQualifyAsExceptions |
| Maint Expend Responsibility | false | MaintExpendResponsibility |
| Rcv Funds To Pay Prsnl Bnft Contract | false | RcvFundsToPayPrsnlBnftContract |
| Pay Premiums Prsnl Bnft Contract | false | PayPremiumsPrsnlBnftContract |
| Prohibited Tax Shelter Transactn | false | ProhibitedTaxShelterTransactn |
| Proceeds Or Net Income | false | ProceedsOrNetIncome |
Ofcr Dir Trustees Key Employee Info OfcrDirTrusteesKeyEmployeeInfo
Ofcr Dir Trustees Or Key Employee OfcrDirTrusteesOrKeyEmployee (3 entries)
| Address Line1USAddress/AddressLine1 | CityUSAddress/City | StateUSAddress/State | ZIP CodeUSAddress/ZIPCode | TitleTitle | Avg Hours Per Wk Devoted To PositionAvgHoursPerWkDevotedToPosition | CompensationCompensation |
|---|---|---|---|---|---|---|
| James Maida | ||||||
| 855 Parkway Avenue | Ewing | NJ | 08618 | Trustee | 0.00 | 0 |
| Paul J Magno | ||||||
| 855 Parkway Avenue | Ewing | NJ | 08618 | Trustee | 0.00 | 0 |
| Dana Magno | ||||||
| 855 Parkway Avenue | Ewing | NJ | 08618 | Trustee | 0.00 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Comp Of Highest Paid Empl NONE | NONE | CompOfHighestPaidEmplNONE |
| Comp Of Hghst Paid Cntrct NONE | NONE | CompOfHghstPaidCntrctNONE |
Summary Of Direct Charitable Acty SummaryOfDirectCharitableActy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | Faith Lutheran Church | Description1 |
| Expenses1 | 20000 | Expenses1 |
| Description2 | Christian Brothers Academy | Description2 |
| Expenses2 | 2500 | Expenses2 |
| Description3 | Hackensack UMC Foundation | Description3 |
| Expenses3 | 1000 | Expenses3 |
| Description4 | University of Miami | Description4 |
| Expenses4 | 5250 | Expenses4 |
Minimum Investment Return MinimumInvestmentReturn
| Field | Value | IRS element (for citing) |
|---|---|---|
| Avg Monthly FMV Of Securities | 204806 | AvgMonthlyFMVOfSecurities |
| Avg Monthly Cash Balances | 50549 | AvgMonthlyCashBalances |
| FMV All Other Noncharitable Assets | 0 | FMVAllOtherNoncharitableAssets |
| Total FMV Of Unused Assets | 255355 | TotalFMVOfUnusedAssets |
| Reduction Claimed | 0 | ReductionClaimed |
| Adj Total FMV Of Unused Assets | 255355 | AdjTotalFMVOfUnusedAssets |
| Cash Deemed Charitable | 3830 | CashDeemedCharitable |
| Net Noncharitable Assets | 251525 | NetNoncharitableAssets |
| Minimum Investment Return | 12576 | MinimumInvestmentReturn |
Distributable DistributableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | 12576 | MinimumInvestmentReturn |
| Tax Based On Investment Income | 132 | TaxBasedOnInvestmentIncome |
| Total Tax | 132 | TotalTax |
| Distributable Amount Before Adj | 12444 | DistributableAmountBeforeAdj |
| Distributable Amount Before Ded | 12444 | DistributableAmountBeforeDed |
| Distributable Amount As Adjusted | 12444 | DistributableAmountAsAdjusted |
Qualifying Distributions QualifyingDistributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | 34957 | ExpensesAndContributions |
| Qualifying Distributions | 34957 | QualifyingDistributions |
| Adj Qualifying Distributions | 34957 | AdjQualifyingDistributions |
Undistributed Income UndistributedIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable Amount As Adjusted | 12444 | DistributableAmountAsAdjusted |
| Excess Distri Carryover Year1 | 684 | ExcessDistriCarryoverYear1 |
| Total Excess Distri Carryover | 684 | TotalExcessDistriCarryover |
| Qualifying Distributions | 34957 | QualifyingDistributions |
| Treated As Distri From Corpus | 0 | TreatedAsDistriFromCorpus |
| Applied To Current Year | 12444 | AppliedToCurrentYear |
| Remaining Distri From Corpus | 22513 | RemainingDistriFromCorpus |
| Total Corpus | 23197 | TotalCorpus |
| Undistributed Income CY | 0 | UndistributedIncomeCY |
| Excess Distri Cyov To Next Year | 23197 | ExcessDistriCyovToNextYear |
| Excess From Year1 | 684 | ExcessFromYear1 |
| Excess From Current Year | 22513 | ExcessFromCurrentYear |
Supplementary Information SupplementaryInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | Paul J Magno | ContributingManager |
| Contributing Manager | Dana Magno | ContributingManager |
| Only Contributes To Preselected | X | OnlyContributesToPreselected |
Grant Or Contri Paid During Year GrantOrContriPaidDuringYear (12 entries)
| Address Line1RecipientUSAddress/AddressLine1 | CityRecipientUSAddress/City | StateRecipientUSAddress/State | ZIP CodeRecipientUSAddress/ZIPCode | Recipient RelationshipRecipientRelationship | Recipient Foundation StatusRecipientFoundationStatus | Purpose Of Grant Or ContributionPurposeOfGrantOrContribution | AmountAmount |
|---|---|---|---|---|---|---|---|
| NJ Sharing Network | |||||||
| 691 Central Avenue | New Providence | NJ | 07974 | None | Public | Memorial-Team Andrew | $250 |
| St Judes Children's Hospital | |||||||
| 262 Danny Thomas Place | Memphis | TN | 38105 | None | Public | Research-Cancer | $500 |
| Sandra M Glazier Scholarship Fund | |||||||
| Princess Road | Lawrenceville | NJ | 08648 | None | Public | Educational | $250 |
| Lavalette First Aid | |||||||
| PO 334 | Lavallette | NJ | 08735 | None | Public | Community | $500 |
| University Of Miami | |||||||
| College Road | Coral Gables | FL | 33124 | None | Public | Education | $5,250 |
| Lavallette Fire Company | |||||||
| 125 Washington Avenue | Lavallette | NJ | 08735 | None | Public | Community | $500 |
| Ocean County College SC | |||||||
| College Drive | Toms River | NJ | 08753 | None | Public | Education | $500 |
| Susan G Komen Walk for Cure | |||||||
| PO Box 650309 | Dallas | TX | 75265 | None | Public | Memorial | $750 |
| Hackensack UMC Foundation | |||||||
| PO Box 417290 | Boston | MA | 02241 | None | Public | Medical Research | $1,000 |
| Juvenile Diabetes Association | |||||||
| 28 Kennedy Blvd | East Brunswick | NJ | 08816 | None | Public | Health | $250 |
| Christian Brothers Acedemy | |||||||
| 850 Newman Springs Road | Lincroft | NJ | 07738 | None | Public | Scholarship | $2,500 |
| Faith Lutheran Church | |||||||
| 1801 Grand Central Avenue | Lavallette | NJ | 08735 | None | Public | Religious | $20,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Grant Or Contri Paid During Year | 32250 | TotGrantOrContriPaidDuringYear |
Analysis Income Producing Acty AnalysisIncomeProducingActy
Dividends And Int From Sec Part VII DividendsAndIntFromSecPartVII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion Code | 14 | ExclusionCode |
| Exclusion | $9,195 | ExclusionAmount |
Gain Sales Assets Oth Than Invntry GainSalesAssetsOthThanInvntry
| Field | Value | IRS element (for citing) |
|---|---|---|
| Related Or Exempt Function Income | -866 | RelatedOrExemptFunctionIncome |
Subtotals Part XVIA SubtotalsPartXVIA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $9,195 | ExclusionAmount |
| Related Or Exempt Function Income | -866 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Part XVIA | 8329 | TotalPartXVIA |
Trnsfr Tr Rln With Noncharitable EO TrnsfrTrRlnWithNoncharitableEO
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Noncharitable EO | false | TrnsfrOfCashToNoncharitableEO |
| Trnsfr Oth Assets Noncharitable EO | false | TrnsfrOthAssetsNoncharitableEO |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssets |
| Purchase Assets Noncharitable EO | false | PurchaseAssetsNoncharitableEO |
| Rental Of Facilities Etc | false | RentalOfFacilitiesEtc |
| Reimbursement Arrangements | false | ReimbursementArrangements |
| Loans Or Loan Guarantees | false | LoansOrLoanGuarantees |
| Performance Of Services Etc | false | PerformanceOfServicesEtc |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtc |
| Relationships Noncharitable E Os | false | RelationshipsNoncharitableEOs |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees AccountingFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Accounting Fees | Category |
| Amount | $775 | Amount |
| Net Investment Income | 0 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
| Disbursements Charitable Prps | 775 | DisbursementsCharitablePrps |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOther (5 entries)
| Category Or ItemCategoryOrItem | Listed At Cost Or FMVListedAtCostOrFMV | Book ValueBookValue | EOYFMVEOYFMV |
|---|---|---|---|
| Other- Mutual Funds | AT COST | 36364 | 36885 |
| Fixed Income Mutual Funds | AT COST | 91715 | 91862 |
| Equities - Mutual Funds | AT COST | 41788 | 48412 |
| Equities Closed End Funds | AT COST | 22933 | 27160 |
| USB Investment-MF | AT COST | 10000 | 10389 |
Legal Fees Schedule LegalFeesSchedule
Legal Fees LegalFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Legal | Category |
| Amount | $1,932 | Amount |
| Net Investment Income | 0 | NetInvestmentIncome |
| Adjusted Net Income | 0 | AdjustedNetIncome |
| Disbursements Charitable Prps | 1932 | DisbursementsCharitablePrps |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | Bank Fees | Description |
| Revenue And Expenses Per Books | 2614 | RevenueAndExpensesPerBooks |
| Net Investment Income | 2614 | NetInvestmentIncome |
Taxes Schedule TaxesSchedule
Taxes Taxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | Federal Taxes | Category |
| Amount | $94 | Amount |
Comments