Magnificat Foundation INC: Nonprofit Profile, Financials & Form 990 (EIN 27-2942525)

Revenue by fiscal year
FY2020	$23K
FY2021	$21K
FY2022	$20K
FY2023	$30K
FY2024	$652K

Expenses by fiscal year
FY2020	$18K
FY2021	$11K
FY2022	$25K
FY2023	$42K
FY2024	$49K

Net assets by fiscal year
FY2020	$205K
FY2021	$214K
FY2022	$209K
FY2023	$196K
FY2024	$799K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1946.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

57 cents of each dollar spent went to programs.

57%

43%

Program services 57% · $28K Management & general 43% · $21K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation

Axel Depinay

Director, CFO/Treasurer

$0Pt VII · Sec A

Bernarda Neal Thru 2124

President

$0Pt VII · Sec A

Christopher Byrnes

Secretary

$0Pt VII · Sec A

Pierre-Marie Dumont

President

$0Pt VII · Sec A

Romanus Cessario

Chairman

$0Pt VII · Sec A

Archduke Rudolph of Austria

Director

$0Pt VII · Sec A

Folef Van Nispen Tot Sevenaer

Director

$0Pt VII · Sec A

John Corcoran

Director

$0Pt VII · Sec A

See Magnificat Foundation INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Encourages faith, prayer, and devotion through various expressions.

Questions for Magnificat Foundation INC

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1 program · $28K · in their own filed words · FY2024

01

The magnificat foundation makes it possible for those in need and who cannot otherwise afford them to obtain quality catholic prayer resources, thereby benefitting deserving young people, seminarians, retired clergy and members of religious orders, prisoners, members of the military on active duty, women in distress, hospital patients…

$28Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2024

Fidelity Investments Charitable Gift FundFY2024$102K

Total grants receivedfrom 1 funder$102K

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$652K

Ln 12

Gifts and grantsLn 1h$648K

Investment incomeLn 3$3K

Money outPt IX

$49K

Ln 25

Programscol B$28K

Managementcol C$21K

Owns and owesPt X

$799K

net assets · Ln 32

Cash and savingsLn 1–2$496K

Total assetsLn 16$814K

LiabilitiesLn 26$15K

PeoplePt VI, VII

12

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$648K

Investment incomeLn 3$3K

Total revenueLn 12$652K

Assets in detailPt X, end of year

CashLn 1$44K

SavingsLn 2$452K

Cash and savings togetherLn 1–2$496K

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$47K

Total assetsLn 16$814K

LiabilitiesLn 26$15K

Net assetsLn 32$799K

OperationsPt I, VI

EmployeesI 50

VolunteersI 610

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$151K	$496K
Land, buildings, equipmentLn 10c	$0	$0
Total assetsLn 16	$202K	$814K
LiabilitiesLn 26	$5K	$15K
Net assetsLn 32	$196K	$799K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Legal feesLn 11b	$10K		$10K
Accounting feesLn 11c	$4K		$4K
Other fees for servicesLn 11g	$0	$0	$0	$0
Office expensesLn 13	$2K		$2K
Information technologyLn 14	$1K		$1K
InsuranceLn 23	$4K		$4K
Other expenses (24a–d)Ln 24	$28K	$28K
All other expensesLn 24e	$0	$0	$0	$0
Total functional expensesLn 25	$49K	$28K	$21K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Nov 3, 2025	$652K	$49K	$602K	$799K	990 PDF
FY2023Filed with the IRS Nov 5, 2024	$30K	$42K	−$12K	$196K	990 PDF
FY2022Filed with the IRS Sep 21, 2023	$20K	$25K	−$5K	$209K	990 PDF
FY2021Filed with the IRS Oct 27, 2022	$21K	$11K	$9K	$214K	990 PDF
FY2020Filed with the IRS Aug 30, 2021	$23K	$18K	$5K	$205K	990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $651,610 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $29,845$648,148

I-9 Program service revenue$0

I-10 Investment income$3,462

I-11 Other revenue$0

I-12 Total revenuePrior year $29,845$651,610

I-13 Grants and similar amounts paidPrior year $11,000$0

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $31,058$49,115

I-18 Total expensesPrior year $42,058$49,115

I-19 Revenue less expensesPrior year −$12,213$602,495

Part VI · Governance 11 of 11 board members independent, 4 to look at

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

VI-2 Family or business relationship among officers or directorsYes

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $651,610 across 5 lines filed

VIII-1f All other contributions, gifts and grants$648,148

VIII-1h Total contributions, gifts and grants$648,148

VIII-3 Investment incomeExcluded from tax $3,462$3,462

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $3,462$651,610

Part IX · Statement of functional expenses $49,115 across 8 lines filed

IX-11b Legal feesManagement $9,702$9,702

IX-11c Accounting feesManagement $3,675$3,675

IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0

IX-13 Office expensesManagement $2,090$2,090

IX-14 Information technologyManagement $1,127$1,127

IX-23 InsuranceManagement $4,394$4,394

IX-24 Other expenses (24a–d)Programs $28,127$28,127

IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0

IX-25 Total functional expensesPrograms $28,127 · Management $20,988 · Fundraising $0$49,115

Part X · Balance sheet $814,263 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $151,368$44,180

X-2 Savings and temporary cash investments$451,760

X-3 Pledges and grants receivableStart of year $3,544$271,730

X-10c Land, buildings and equipment, netStart of year $0$0

X-15 Other assetsStart of year $46,593$46,593

X-16 Total assetsStart of year $201,505$814,263

X-17 Accounts payable and accrued expensesStart of year $3,131$13,394

X-18 Grants payableStart of year $1,920$1,920

X-25 Other liabilitiesStart of year $0$0

X-26 Total liabilitiesStart of year $5,051$15,314

X-27 Net assets without donor restrictionsStart of year $196,454$798,949

X-32 Total net assets or fund balancesStart of year $196,454$798,949

X-33 Total liabilities and net assetsStart of year $201,505$814,263

Part XI · Reconciliation of net assets $798,949 net assets at year end

XI-1 Total revenue$651,610

XI-2 Total expenses$49,115

XI-3 Revenue less expenses$602,495

XI-4 Net assets at start of year$196,454

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$798,949

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Magnificat Foundation INC

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Magnificat Foundation INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV