Seena Magowitz Foundation Inc

Analysis

Seena Magowitz Foundation Inc is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in May 2007, 19 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Seena Magowitz Foundation Inc reported income of $513k and spending of $474k, spending 92% of its income. Across the 5 years on record, from March 2019 to March 2023, income fell from $679k to $513k (-24%), an average of -6.8% a year. The sharpest change came in the year to March 2023, when income dropped by 35%. Over the whole period it spent 92% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Seena Magowitz Foundation Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within VA. Charities of a similar size with the same main cause include Rescue One More Inc ($513k), Quality of Life Inc ($513k) and House of Help City of Hope ($513k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 117% of the total. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.