People in the entertainment business know Gary Magness for co-founding Smokewood Entertainment with his wife Sarah Siegel-Magness and producing the six-time Oscar-nominated film “Precious.” However, Gary Magness has been up to a lot more than just that, including some endeavors in the world of philanthropy. He’s worth an estimated $1.4 billion these days and conducts his charitable giving through the Gary Magness Family Foundation.
Here are a few things to know about the Gary Magness Family Foundation and how it gives to organizations in the Los Angeles area.
Four areas of focus
Although the Magness Family Foundation has a limited web presence, GMAG Holdings Corp. has a page dedicated to the foundation on its website. GMAG Holdings is a private holding company that Gary Magness started to manage his diverse investment portfolio and operate numerous businesses, as well as his foundation.
We now know that the foundation has four primary focus areas: conservation, medical research, education and the arts. Past grants have gone to the Children’s Hospital Los Angeles, Art of Elysium, Whole Kids Foundation and the Jane Goodall Institute.
Typical Magness giving
In recent years, the Magness Family Foundation has been awarding over a million dollars in annual grants. Some grants have been several hundreds of thousands of dollars each, while many others are in the $10,000 to $20,000 range.
The foundation usually awards grants for general operating support, but some funding has gone toward wildlife relief and a scholarship fund. The Los Angeles region is definitely an interest of the Magness family, but they also regularly award grants to organizations in Colorado. The couple has homes in both Los Angeles and Denver. Recent Los Angeles-area grantees include the Animal Wellness Foundation, Berkeley Hall School and Buckley School in the Sherman Oaks neighborhood.
Applying for a grant
Unfortunately for local grantseekers in Los Angeles, the Magness Family Foundation is not a very accessible foundation, nor is it one with a well-publicized grantmaking process. According to recent tax records, the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests.
Other interests
Aside from filmmaking and philanthropy, Gary Magness runs Magness Land & Cattle, a ranching operation based in Platteville, Colorado. He has a long-time passion for vintage cars, opened a classic car dealership, and has an inventory of classic cars for sale at Mango Motors in Denver. He’s also the team leader of Mango Racing, a car racing team that travels to several races throughout the year and donates all prize money to local villages in Mexico. Meanwhile, Magness’ Smokewood Entertainment business is continuing to produce films for diverse audiences. Keep an eye on the Magness family in the years ahead to see how its philanthropy evolves alongside these other interests.
Read more about the Gary Magness Family Foundation in IP’s Los Angeles and Southern California Funding Guide.