Magyar Bank Charitable Foundation

New Brunswick, NJ
Tax-exempt since July 2007
EIN: 20-4154914

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$32k (2024)

Expenses

$98.5k (2024)

Total Assets

$684k (2024)

Total Liabilities

$25.7k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Sept.
2024

Revenue

$32,048

Expenses

$98,528

Net Income

-$66,480

Net Assets

$658,096

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$150	0.5%
Dividends	$14,574	45.5%
Sales of Assets	$14,824	46.3%
Other Income	$2,500	7.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$102,277	> 100%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$683,755
Total Liabilities	$25,659
Net Assets	$658,096

Compensation

Key Employees and Officers	Compensation	Other
John Reissner (President)	$0	$0
Jon R Ansari (V.P. & Treasurer)	$0	$0
Robin E Suydam (Corporate Secretary & Director)	$0	$0
John S Fitzgerald (Class I Board Member)	$0	$0
Deborah S Alexander (Class Ii Board Member)	$0	$0
Thomas Lankey (Class Ii Board Member)	$0	$0
Sarah Chaplin (Class Iii Board Member)	$0	$0

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990-PF

Filed on April 3, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2023

Revenue

$26,806

Expenses

$86,978

Net Income

-$60,172

Net Assets

$632,071

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$100	0.4%
Interest Revenue	$30	0.1%
Dividends	$13,354	49.8%
Sales of Assets	$13,322	49.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$84,311	96.9%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$663,669
Total Liabilities	$31,598
Net Assets	$632,071

Compensation

Key Employees and Officers	Compensation	Other
John Reissner (President)	$0	$0
Jon R Ansari (V.P. & Treasurer)	$0	$0
Robin E Suydam (Corporate Secretary & Director)	$0	$0
John S Fitzgerald (Class I Board Member)	$0	$0
Deborah S Alexander (Class Ii Board Member)	$0	$0
Thomas Lankey (Class Ii Board Member)	$0	$0
Sarah Chaplin (Class Iii Board Member)	$0	$0

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990-PF

Filed on July 31, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Sept.
2022

Revenue

$33,390

Expenses

$111,895

Net Income

-$78,505

Net Assets

$846,974

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$45	0.1%
Dividends	$15,494	46.4%
Sales of Assets	$17,851	53.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$106,023	94.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$874,477
Total Liabilities	$27,503
Net Assets	$846,974

Compensation

Key Employees and Officers	Compensation	Other
John Reissner (President)	$0	$0
Jon R Ansari (V.P. & Treasurer)	$0	$0
Robin E Suydam (Corporate Secretary & Director)	$0	$0
John S Fitzgerald (Class I Board Member)	$0	$0
Deborah S Alexander (Class Ii Board Member)	$0	$0
Thomas Lankey (Class Ii Board Member)	$0	$0
Sarah Chaplin (Class Iii Board Member)	$0	$0

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990-PF

Filed on July 18, 2023

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Sept.
2021

Revenue

$4,849

Expenses

$90,780

Net Income

-$85,931

Net Assets

$870,752

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$20	0.4%
Interest Revenue	$37	0.8%
Dividends	$0
Sales of Assets	$4,792	98.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$88,714	97.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$892,594
Total Liabilities	$21,842
Net Assets	$870,752

Compensation

Key Employees and Officers	Compensation	Other
Jay E Castillo (President Thru 10/2020)	$0	$0
John Reissner (President As Of 3/2021)	$0	$0
Jon R Ansari (V.P. & Treasurer)	$0	$0
Robin E Suydam (Corporate Secretary & Director)	$0	$0
John S Fitzgerald (Class I Board Member)	$0	$0
Deborah S Alexander (Class Ii Board Member)	$0	$0
Thomas Lankey (Class Ii Board Member)	$0	$0
Sarah Chaplin (Class Iii Board Member As Of 3/2021)	$0	$0

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990-PF

Filed on Aug. 9, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2020

Revenue

$57

Expenses

$75,976

Net Income

-$75,919

Net Assets

$592,756

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$57	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$64,320	84.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$608,756
Total Liabilities	$16,000
Net Assets	$592,756

Compensation

Key Employees and Officers	Compensation	Other
Jay E Castillo (President)	$0	$0
Jon R Ansari (V.P. & Treasurer)	$0	$0
Robin E Suydam (Corporate Secretary & Dire)	$0	$0
John S Fitzgerald (Class I Board Member)	$0	$0
Deborah S Alexander (Class Ii Board Member)	$0	$0
Thomas Lankey (Class Ii Board Member)	$0	$0
Salvatore J Romano Phd (Class Iii Board Member)	$0	$0

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990-PF

Filed on Aug. 10, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2019

Revenue

$15,621

Expenses

$62,428

Net Income

-$46,807

Net Assets

$788,168

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$83	0.5%
Dividends	$0
Sales of Assets	$15,538	99.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$57,500	92.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$792,980
Total Liabilities	$4,812
Net Assets	$788,168

Compensation

Key Employees and Officers	Compensation	Other
Jon R Ansari (Vp & Treasurer)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Salvatore J Romano Ph D (Board Member)	$0	$0
Thomas Lankey (Board Member)	$0	$0
Robin E Suydam (Corporate Secretary Board Memb)	$0	$0
Jay E Castillo (President)	$0	$0

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990-PF

Filed on Aug. 13, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2018

Revenue

$20,622

Expenses

$82,392

Net Income

-$61,770

Net Assets

$834,970

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$83	0.4%
Dividends	$0
Sales of Assets	$20,539	99.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$71,000	86.2%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$844,116
Total Liabilities	$9,146
Net Assets	$834,970

Compensation

Key Employees and Officers	Compensation	Other
John R Ansari (Vp & Treasurer)	$0	$0
Jay E Castillo (President)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Salvatore J Romano Ph D (Board Member)	$0	$0
Thomas Lankey (Board Member)	$0	$0
Robin E Suydam (Board Member)	$0	$0

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990-PF

Filed on Feb. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2017

Revenue

$7,304

Expenses

$60,747

Net Income

-$53,443

Net Assets

$896,740

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$13	0.2%
Dividends	$0
Sales of Assets	$7,291	99.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$52,000	85.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$901,381
Total Liabilities	$4,641
Net Assets	$896,740

Compensation

Key Employees and Officers	Compensation	Other
Jon R Ansari (Vp & Treasurer)	$0	$0
Jay E Castillo (President)	$0	$0
Robin E Suydam (Corporate Secretary Director)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Salvatore J Romano Ph D (Board Member)	$0	$0
Thomas Lankey (Board Member)	$0	$0
Robin E Suydam (Board Member)	$0	$0

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990-PF

Filed on May 31, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2016

Revenue

$45

Expenses

$54,705

Net Income

-$54,660

Net Assets

$950,183

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$45	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$45,000	82.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$959,183
Total Liabilities	$9,000
Net Assets	$950,183

Compensation

Key Employees and Officers	Compensation	Other
Jay E Castillo (President)	$0	$0
Jon Ansari (V.P. & Treasurer)	$0	$0
Joseph J Luckacs Jr (Board Member)	$0	$0
Salvatore J Romano (Board Member)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Robin E Suydam (Corporate Secretary)	$0	$0

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990-PF

Filed on April 14, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2015

Revenue

$37

Expenses

$50,727

Net Income

-$50,690

Net Assets

$1,004,843

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$37	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$46,000	90.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,009,343
Total Liabilities	$4,500
Net Assets	$1,004,843

Compensation

Key Employees and Officers	Compensation	Other
Jay E Castillo (President)	$0	$0
Jon Ansari (V.P. & Treasurer)	$0	$0
Joseph J Luckacs Jr (Board Member)	$0	$0
Salvatore J Romano (Board Member)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Robin E Suydam (Corporate Secretary)	$0	$0

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990-PF

Filed on May 13, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2014

Revenue

$60

Expenses

$25,051

Net Income

-$24,991

Net Assets

$1,063,040

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$37	61.7%
Dividends	$0
Sales of Assets	$0
Other Income	$23	38.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$20,500	81.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,072,041
Total Liabilities	$9,001
Net Assets	$1,063,040

Compensation

Key Employees and Officers	Compensation	Other
Jay E Castillo (President)	$0	$0
Jon Ansari (V.P. & Treasurer)	$0	$0
Joseph J Luckacs Jr (Board Member)	$0	$0
Salvatore J Romano (Board Member)	$0	$0
John S Fitzgerald (Board Member)	$0	$0
Deborah S Alexander (Board Member)	$0	$0
Robin E Suydam (Corporate Secretary)	$0	$0

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990-PF

Filed on May 5, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2013

Revenue

$70

Expenses

$36,793

Net Income

-$36,723

Net Assets

$1,088,031

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$70	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$32,292	87.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,097,055
Total Liabilities	$9,024
Net Assets	$1,088,031

990-PF

Filed on April 8, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Sept.
2012

Revenue

$184

Expenses

$40,916

Net Income

-$40,732

Net Assets

$1,124,754

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$184	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$37,414	91.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,133,776
Total Liabilities	$9,022
Net Assets	$1,124,754

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2011

Revenue

$652

Expenses

$49,516

Net Income

-$48,864

Net Assets

$1,165,486

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$652	100%
Dividends	$0
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$38,500	77.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,171,007
Total Liabilities	$5,521
Net Assets	$1,165,486

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Magyar Bank Charitable Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $32k (2024)

Expenses $98.5k (2024)

Total Assets $684k (2024)

Total Liabilities $25.7k (2024)

Tax Filings by Year

Fiscal Year Ending Sept. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Sept. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Revenue

$32k (2024)

Expenses

$98.5k (2024)

Total Assets

$684k (2024)

Total Liabilities

$25.7k (2024)

Fiscal Year Ending Sept.
2024

Fiscal Year Ending Sept.
2023

Fiscal Year Ending Sept.
2022

Fiscal Year Ending Sept.
2021

Fiscal Year Ending Sept.
2020

Fiscal Year Ending Sept.
2019

Fiscal Year Ending Sept.
2018

Fiscal Year Ending Sept.
2017

Fiscal Year Ending Sept.
2016

Fiscal Year Ending Sept.
2015

Fiscal Year Ending Sept.
2014

Fiscal Year Ending Sept.
2013

Fiscal Year Ending Sept.
2012

Fiscal Year Ending Sept.
2011

Fiscal Year Ending Sept.
2010

Fiscal Year Ending Sept.
2009

Fiscal Year Ending Sept.
2008

Fiscal Year Ending Sept.
2007

Fiscal Year Ending Sept.
2006