Magic Garden Inc
- Assets
- $1.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 39
- Location
- Lincoln, MA
- Founding
- 04/1983
- Data as of
- 08/2022
- EIN
- 04-2762641
Organization Overview
Magic Garden Inc is located in Lincoln, MA. The organization was established in 1983. As of 08/2022, Magic Garden Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Garden Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2022, Magic Garden Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.7m during the year ending 08/2022. While expenses have increased by 8.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAGIC GARDEN CHILDREN'S CENTER WAS FOUNDED ON THE PRINCIPLE THAT CHILDREN LEARN BEST BY ENGAGING IN A DIVERSE CURRICULUM OF HANDS-ON ACTIVITIES. IN OUR WARM AND NURTURING ENVIRONMENT, CHILDREN FIND FRIENDSHIP AND SUPPORT AS THEY BROADEN THEIR UNDERSTANDING OF THEMSELVES, OTHERS, AND THE WORLD AROUND THEM. WE EMPOWER CHILDREN TO BE CONFIDENT IN THEIR INDIVIDUAL IDENTITIES, RESPECTFUL OF DIFFERENT PERSPECTIVES, AND AWARE OF THE RICH DIVERSITY OF THEIR COMMUNITY AND WORLD. MAGIC GARDEN SEEKS TO CULTIVATE CHILDREN'S NATURAL CURIOSITY AND PROMOTE A LIFETIME LOVE OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAGIC GARDEN'S PRESCHOOL PROGRAM OPERATES 4 CLASSROOMS, EMPLOYS 18 PEOPLE AND HAS A CAPACITY OF 54 FULL TIME STUDENTS THAT ARE PROVIDED EDUCATION, RECREATION,CULTURE, AND ENRICHMENT. OUR PROGRAM OPERATES 7:30 AM - 6:00 PM FIVE DAYS A WEEK YEAR-ROUND, SERVING CHILDREN OF AGES 15 MONTHS TO 6 YEARS. IN 2019, MAGIC GARDEN OPENED AN INFANT CENTER THAT SERVES INFANTS & TODDLERS AGES 2 MONTHS TO 33 MONTHS AND EMPLOYS 5 FULL TIME EMPLOYEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kara-Lynn Soo Co-President | OfficerTrustee | 5 | $0 |
Rebecca Ahmed Director | Trustee | 1 | $0 |
Cassie Clark Director | Trustee | 1 | $0 |
Alex Schwarzer Director | Trustee | 1 | $0 |
Melyssa Atwood Staff/director | Trustee | 40 | $54,675 |
Ellen Lembo Staff/director | Trustee | 40 | $49,524 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $217,588 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,723 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,311 |
| Total Program Service Revenue | $1,953,615 |
| Investment income | $390 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,183,316 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $24,420 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,972 |
| Compensation of current officers, directors, key employees. | $24,725 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,069,078 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,812 |
| Payroll taxes | $100,017 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $12,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,644 |
| Advertising and promotion | $8,285 |
| Office expenses | $31,561 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,494 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,570 |
| Insurance | $22,748 |
| All other expenses | $3,179 |
| Total functional expenses | $1,731,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $776,801 |
| Savings and temporary cash investments | $699,754 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,069 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,604 |
| Net Land, buildings, and equipment | $175,531 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,669,759 |
| Accounts payable and accrued expenses | $85,238 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $118,308 |
| Total liabilities | $203,546 |
| Net assets without donor restrictions | $1,465,933 |
| Net assets with donor restrictions | $280 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,669,759 |