Magistro Foundation Inc

Pennington, NJ
Tax-exempt since Dec. 2002
EIN: 68-0527894

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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 Independent Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$496k (2024)

Expenses

$676k (2024)

Total Assets

$8.36M (2024)

Total Liabilities

$0 (2024)

Years with missing data

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 Dec.
2024

Revenue

$495,683

Expenses

$676,425

Net Income

-$180,742

Net Assets

$8,355,148

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$221,478	44.7%
Sales of Assets	$274,205	55.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$642,349	95.0%
Compensation of Officers*	$3,000	0.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$8,355,148
Total Liabilities	$0
Net Assets	$8,355,148

Compensation

Key Employees and Officers	Compensation	Other
Julia Baumgaertner (Secretary)	$3,000	$0
Paulette Simpson (President)	$0	$0
Kevin Simpson (Treasurer)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro Sherry (Director)	$0	$0
Ian Simpson (Director)	$0	$0
Michael Baumgaertner (Director)	$0	$0
Erica Simpson (Director)	$0	$0
Gabriel Baumgaertner (Director)	$0	$0

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990-PF

Filed on May 28, 2025

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$498,094

Expenses

$839,055

Net Income

-$340,961

Net Assets

$8,239,789

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$187,330	37.6%
Sales of Assets	$303,352	60.9%
Other Income	$7,412	1.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$815,868	97.2%
Compensation of Officers*	$2,500	0.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$8,239,789
Total Liabilities	$0
Net Assets	$8,239,789

Compensation

Key Employees and Officers	Compensation	Other
Julia Baumgaertner (Secretary)	$2,500	$0
Paulette Simpson (President)	$0	$0
Kevin Simpson (Treasurer)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro Sherry (Director)	$0	$0
Ian Simpson (Director)	$0	$0
Michael Baumgaertner (Director)	$0	$0
Erica Simpson (Director)	$0	$0
Gabriel Baumgaertner (Director)	$0	$0

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990-PF

Filed on May 2, 2024

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$202,441

Expenses

$1,070,134

Net Income

-$867,693

Net Assets

$7,923,169

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$160,716	79.4%
Sales of Assets	$41,717	20.6%
Other Income	$8	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,026,223	95.9%
Compensation of Officers*	$5,000	0.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$7,923,169
Total Liabilities	$0
Net Assets	$7,923,169

Compensation

Key Employees and Officers	Compensation	Other
Julia Baumgaertner (Secretary)	$2,500	$0
Kevin Simpson (Treasurer)	$2,500	$0
Paulette Simpson (President)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro Sherry (Director)	$0	$0
Ian Simpson (Director)	$0	$0
Michael Baumgaertner (Director)	$0	$0
Erica Simpson (Director)	$0	$0
Gabriel Baumgaertner (Director)	$0	$0

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990-PF

Filed on May 10, 2023

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$914,383

Expenses

$1,059,489

Net Income

-$145,106

Net Assets

$10,170,689

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$186,468	20.4%
Sales of Assets	$727,915	79.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,024,356	96.7%
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	$10,170,689
Total Liabilities	$0
Net Assets	$10,170,689

Compensation

Key Employees and Officers	Compensation	Other
Paulette Simpson (President)	$0	$0
Julia Baumgaertner (Secretary)	$0	$0
Kevin Simpson (Treasurer)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro Sherry (Director)	$0	$0
Ian Simpson (Director)	$0	$0
Michael Baumgaertner (Director)	$0	$0
Erica Simpson (Director)	$0	$0
Gabriel Baumgaertner (Director)	$0	$0

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990-PF

Filed on Aug. 4, 2022

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$449,021

Expenses

$989,535

Net Income

-$540,514

Net Assets

$10,084,884

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$188,388	42.0%
Sales of Assets	$260,633	58.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$966,283	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	$10,084,885
Total Liabilities	$1
Net Assets	$10,084,884

Compensation

Key Employees and Officers	Compensation	Other
Paulette Simpson (President)	$0	$0
Julia Baumgaertner (Secretary)	$0	$0
Kevin Simpson (Treasurer)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro Sherry (Director)	$0	$0
Ian Simpson (Director)	$0	$0
Michael Baumgaertner (Director)	$0	$0
Erica Simpson (Director)	$0	$0
Gabriel Baumgaertner (Director)	$0	$0

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990-PF

Filed on May 12, 2021

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$475,209

Expenses

$509,395

Net Income

-$34,186

Net Assets

$9,502,299

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$203,636	42.9%
Sales of Assets	$271,573	57.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$465,694	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	$9,502,300
Total Liabilities	$1
Net Assets	$9,502,299

Compensation

Key Employees and Officers	Compensation	Other
Paulette M Simpson (President)	$0	$0
Kevin C Simpson (Treasurer)	$0	$0
Julia Baumgaertner (Secretary)	$0	$0
Elise Magistro (Director)	$0	$0
Maria Magistro (Director)	$0	$0
Ian Simpson (Director)	$0	$0

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990-PF

Filed on Sept. 1, 2020

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$669,945

Expenses

$360,329

Net Income

$309,616

Net Assets

$8,321,878

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$212,501	31.7%
Sales of Assets	$457,333	68.3%
Other Income	$111	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$323,155	89.7%
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	$8,321,878
Total Liabilities	$0
Net Assets	$8,321,878

Compensation

Key Employees and Officers	Compensation	Other
Paulette M Simpson (President)	$0	$0
Kevin C Simpson (Treasurer)	$0	$0

990-PF

Filed on Aug. 8, 2019

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990-PF

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$10,219,817

Expenses

$79,077

Net Income

$10,140,740

Net Assets

$11,102,113

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$10,250,000	> 100%
Interest Revenue	$413	0.0%
Dividends	$148,741	1.5%
Sales of Assets	-$179,337
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$54,500	68.9%
Compensation of Officers*	$6,450	8.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$11,102,113
Total Liabilities	$0
Net Assets	$11,102,113

Compensation

Key Employees and Officers	Compensation	Other
Andrea M Nadler (Secretary/Treasurer)	$4,450	$0
Paulette M Simpson (President)	$500	$0
Elise Magistro (Director)	$500	$0
Maria M Sherry (Director)	$500	$0
Kevin Simpson (Director)	$500	$0
Charles M Magistro (Director Emeritus)	$0	$0
Mary N Magistro (Director Emeritus)	$0	$0

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990-PF

Filed on June 2, 2017

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$397,837

Expenses

$67,476

Net Income

$330,361

Net Assets

$988,722

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$200,017	50.3%
Interest Revenue	$36	0.0%
Dividends	$19,728	5.0%
Sales of Assets	$178,056	44.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$52,000	77.1%
Compensation of Officers*	$4,750	7.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$988,722
Total Liabilities	$0
Net Assets	$988,722

Compensation

Key Employees and Officers	Compensation	Other
Andrea M Nadler (Secretary/Treasurer)	$2,750	$0
Mary N Magistro (Director Emeritus)	$500	$0
Paulette M Simpson (President)	$500	$0
Elise Magistro (Director)	$500	$0
Maria M Sherry (Director)	$500	$0
Charles M Magistro (Director Emeritus)	$0	$0

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990-PF

Filed on May 16, 2016

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$96,582

Expenses

$75,701

Net Income

$20,881

Net Assets

$856,685

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$55	0.1%
Dividends	$25,394	26.3%
Sales of Assets	$71,133	73.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$67,873	89.7%
Compensation of Officers*	$7,600	10.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$856,685
Total Liabilities	$0
Net Assets	$856,685

Compensation

Key Employees and Officers	Compensation	Other
Andrea M Nadler (Secretary/Treasurer)	$4,600	$0
Paulette M Simpson (President)	$1,000	$0
Elise Magistro (Director)	$1,000	$0
Maria M Sherry (Director)	$1,000	$0
Charles M Magistro (Director Emeritus)	$0	$0
Mary N Magistro (Director Emeritus)	$0	$0

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990-PF

Filed on May 13, 2015

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$140,878

Expenses

$62,022

Net Income

$78,856

Net Assets

$956,770

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$99,644	70.7%
Interest Revenue	$2,561	1.8%
Dividends	$21,489	15.3%
Sales of Assets	$17,184	12.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$54,785	88.3%
Compensation of Officers*	$5,075	8.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$956,770
Total Liabilities	$0
Net Assets	$956,770

Compensation

Key Employees and Officers	Compensation	Other
Andrea M Nadler (Director)	$2,075	$0
Paulette M Simpson (Director)	$1,000	$0
Elise M Baumgaertner (Director)	$1,000	$0
Maria M Sherry (Director)	$1,000	$0
Charles M Magistro (President)	$0	$0
Mary N Magistro (Secretary)	$0	$0

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990-PF

Filed on April 15, 2014

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$990,641

Expenses

$1,059,264

Net Income

-$68,623

Net Assets

$681,039

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,027,983	> 100%
Interest Revenue	$1,484	0.1%
Dividends	$18,905	1.9%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,050,000	99.1%
Compensation of Officers*	$4,800	0.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$681,039
Total Liabilities	$0
Net Assets	$681,039

990-PF

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$24,521

Expenses

$50,875

Net Income

-$26,354

Net Assets

$651,067

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$50,000	> 100%
Interest Revenue	$544	2.2%
Dividends	$17,133	69.9%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$40,000	78.6%
Compensation of Officers*	$4,925	9.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$651,067
Total Liabilities	$0
Net Assets	$651,067

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

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Updated September 25, 2025

Magistro Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $496k (2024)

Expenses $676k (2024)

Total Assets $8.36M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

No Extracted Financial Data

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Revenue

$496k (2024)

Expenses

$676k (2024)

Total Assets

$8.36M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002