Minnesota · Public charity
Magnifi Financial Credit Union
MAGNIFI FINANCIAL CREDIT UNION is a member owned financial cooperative providing loan, deposit and other financial services to 84,983 members.
- $110k
- Granted FY2024(still arriving)
- 2
- Grants FY2024
- 1
- Organizations funded FY2023
- 0%
- First-time grantees FY2023
- Median grant, FY2024
- $85,271
- Largest grant, FY2024
- $85,271
- Organizations funded a year
- 1 to 3
- FY2017 to FY2023
- States reached, FY2024
- 1
- Total assets, FY2024
- $2.4B
How open it is to new grantees
In FY2023, 0% of the organizations Magnifi Financial Credit Union funded were first-time grantees, receiving 0% of its grant dollars.
New vs renewed · share of each year
In FY2023, 100% of grant dollars renewed an existing relationship; $0 went to new ones.
Where new relationships form · theme of each grantee’s first grant
How this is measured
The numbers by year
| Fiscal year | Organizations funded | To those organizations | First-time grantees |
|---|---|---|---|
| FY2024still arriving | 1 | $85k | 0% |
| FY2023 | 1 | $85k | 0% |
| FY2022 | 2 | $94k | 50% |
| FY2021 | 3 | $91k | 33% |
| FY2020 | 2 | $90k | 0% |
| FY2019 | 1 | $70k | 0% |
| FY2018 | 3 | $79k | 67% |
| FY2017 | 3 | $88k | n/a |
What it funded, over time
Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.
Top grantees
Largest recipients by total granted, FY2017 to FY2024, and the share of each one’s budget the grants supplied at peak.
| Grantee | Total granted | Years | Share of their budget |
|---|---|---|---|
| Magnifi Financial Foundation | $591,450 | 8 | 96% |
| Albany Area Schools | $48,500 | 3 | n/a |
| Sauk Centre Public Schools #743 | $10,249 | 1 | n/a |
| Cold Spring Area Baseball Inc | $10,000 | 1 | n/a |
| Melrose Public Schools Isd #0740 | $8,812 | 1 | n/a |
| National Credit Union Foundation | $6,216 | 1 | 0% |
| Catholic Charities of the Diocese of St Cloud | $5,800 | 1 | 0% |
Co-funders
Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a set of overlaps that mostly run through this funder rather than between each other.
Open a dossier: Communitygiving
How this is measured
About Magnifi Financial Credit Union
- How much does Magnifi Financial Credit Union give?
- Magnifi Financial Credit Union reported 2 grants totaling $110,271 in its FY2024 IRS filing. It funded between 1 and 3 organizations a year over FY2017 to FY2023.
- What does Magnifi Financial Credit Union fund?
- By grant dollars over FY2017 to FY2024, its largest causes are Philanthropy (80%), Education (9%), Health (8%).
- Who are Magnifi Financial Credit Union's largest grantees?
- By total granted over FY2017 to FY2024: Magnifi Financial Foundation ($591k), Albany Area Schools ($49k), Sauk Centre Public Schools #743 ($10k).
- Does Magnifi Financial Credit Union fund new organizations?
- In FY2023, 0% of the organizations it funded were first-time grantees.
- Which funders back the same organizations as Magnifi Financial Credit Union?
- Its strongest co-funders, measured against what their size predicts, include Communitygiving.
- Where is Magnifi Financial Credit Union based?
- Magnifi Financial Credit Union is based in MN.
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