Nonprofit · EIN 25-6873635
MGN FOUNDATION TR
Tax-exempt · WILMINGTON, DE 19809
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $2,158,441 | $142,171 | $2,016,270 | $3,427,112 | $0 | $3,427,112 |
| December 31, 2023 | 990-PF | $83,300 | $147,392 | -$64,092 | $1,408,342 | $0 | $1,408,342 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,028,815
- Dividends
- $70,513
- Interest
- $14,913
- Net gain from sales of assets
- $44,926
- Other income
- -$726
Expenses
- Grants and similar amounts paid
- $94,000
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $117,809
- Excise tax on investment income
- $1,477
Balance sheet and other
- Total assets, start of year
- $1,408,342
- Total assets, end of year
- $3,427,112
- Total liabilities, end of year
- $0
- Net assets, end of year
- $3,427,112
- Fair market value of assets
- $4,092,296
- Qualifying distributions
- $117,809
- Net investment income
- $130,350
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mark Langan Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Jeremy Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Katherine Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Mackenzie Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Misty Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres, Trustee | 1 | $0 |
| Robert A Nappi Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Trustee | 1 | $0 |
| Kyle Smith Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
990-PF for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mark Langan Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Jeremy Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
| Misty Leonard Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir, Pres | 1 | $0 |
| Robert A Nappi Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Trustee | 1 | $0 |
| Kyle Smith Foundation Source 501 Silverside Rd, Wilmington, DE 198091377 | Dir | 1 | $0 |
Address and contacts
- Address (IRS master file)
- FOUNDATION SOURCE 501 SILVERSIDE RD, WILMINGTON, DE 19809-0000
- In care of
- % FOUNDATION SOURCE
- Signed the 990-PF
- Misty Leonard, President
- Phone
- (800) 839-1754
- Return prepared by
- Foundation Source
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 25-6873635
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2005
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $3,427,112
- Income (IRS master file)
- $2,158,441
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $2,158,441 | $142,171 | $3,427,112 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $83,300 | $147,392 | $1,408,342 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 25-6873635).
Questions about MGN FOUNDATION TR
- What is the EIN of MGN FOUNDATION TR?
- The employer identification number (EIN) of MGN FOUNDATION TR is 25-6873635.
- Is MGN FOUNDATION TR tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2005.
- Are donations to MGN FOUNDATION TR tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does MGN FOUNDATION TR file?
- Form 990-PF. Private foundations file every year.
- When is the next return of MGN FOUNDATION TR due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MGN FOUNDATION TR last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of MGN FOUNDATION TR?
- The 990-PF for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does MGN FOUNDATION TR have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $2,158,441, expenses of $142,171 and total assets of $3,427,112 at year end.
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