A Private Foundation located in MAGNOLIA, IL



Latest data derived from the private foundation e-Filings updated by the IRS

IRS Form 990 PF

G

2024 Tax Year

About this Private Foundation: 468809

The foundation is located in Magnolia and provides grants for various charitable purposes, focusing on philanthropy, voluntarism, and grantmaking. It awards tuition scholarships to college students residing in the Magnolia and Hope townships, supporting students for up to six semesters beginning in their sophomore year. Over a ten-year period, the foundation has awarded scholarships to eight individuals. This grant activity aims to enhance educational opportunities and support the academic pursuits of local students, thereby contributing to the community's development and fostering a culture of learning and achievement.

Foundation Profile

In the tax year 2024, a prominent private foundation based in Magnolia is making significant strides in supporting local education through its charitable endeavors. With total assets amounting to $1.3 million, the foundation is committed to enhancing the lives of college students residing in Magnolia and Hope townships. This commitment is reflected in its distribution of $59.3K in grants during the year, aimed specifically at fostering philanthropy and voluntarism within the community. The foundation's mission centers on empowering students by providing tuition scholarships to those who have lived in the designated townships for a minimum of ten years. This initiative reflects a strong focus on supporting local residents and ensuring that financial barriers do not hinder their pursuit of higher education. Eligible students can receive funding for up to six semesters, starting from their sophomore year, thereby allowing them to concentrate on their studies without the burden of tuition costs. Funding priorities for this foundation include educational support that encourages academic achievement and community engagement. By awarding scholarships to deserving individuals, the foundation not only invests in the future of its local youth but also promotes a culture of giving back to the community. In the current tax year, eight individuals were awarded scholarships, showcasing the foundation's dedication to making a tangible impact on the lives of students. Grant seekers interested in applying for scholarships should note that eligibility is primarily based on residency in the Magnolia or Hope townships and a demonstrated commitment to their educational journey. The foundation's focus on philanthropy and voluntarism underscores its belief in the importance of community involvement and the transformative power of education. In summary, this foundation serves as a vital resource for students in Magnolia and Hope townships, providing essential funding opportunities that facilitate educational advancement and foster a spirit of community engagement. Its ongoing commitment to charitable giving is paving the way for future generations to thrive academically and contribute positively to society.
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MAGNOLIA, IL

Summary

Assets

$1.2m

Distributions

$59.3k

Contributions

$0

Grant Median

$

Count

0

Grant Max

$0
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Latest Tax e-Filing

2024

Published by IRS

2024

People

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# Name Title Hours / Wk Comp ($)

Charitable Activities

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State

IL

City

MAGNOLIA

Purpose

Interest

Philanthropy, Voluntarism & Grantmaking Foundations

47 results

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Unrestricted
Nonprofit Grant Provider in MAGNOLIA, IL with $1.2m in Assets