Magnet Inc
- Assets
- $44.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 10/2006
- Data as of
- 12/2019
- EIN
- 20-4447936
Organization Overview
Magnet Inc is located in Madison, WI. The organization was established in 2006. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnet Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2019
Describe the Organization's Program Activity:
Part 3
DURING 2019, MAGNET INCREASED OUR MEMBERSHIP TO 125 MEMBERS. WE HELD 167 UNIQUE EVENTS IN OUR THREE PILLARS: SOCIAL, COMMUNITY INVOLVEMENT, AND PROFESSIONAL DEVELOPMENT. WE PROVIDED GRANTS FOR LOCAL NONPROFITS. WE HELD A WEEK OF EVENTS FOR ALL MADISON YOUNG PROFESSIONALS IN PARTNERSHIP WITH THE STATEWIDE YP PROGRAMMING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Kemp-Baird Board Member | 2 | $0 | |
Hallie Evenson Board Member | 4 | $0 | |
Monica Hickey President | 5 | $0 | |
Brandon Blackmer Board Member | 4 | $0 | |
Zach Ketterhagen Board Member | 4 | $0 | |
Holly Ann Burns Board Member | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,237 |
| Total Program Service Revenue | $10,961 |
| Membership dues | $9,820 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$3,050 |
| Other Revenue | $0 |
| Total Revenue | $51,968 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $789 |
| Occupancy, rent, utilities, and maintenance | $4,305 |
| Printing, publications, postage, and shipping | $500 |
| Other expenses | $23,431 |
| Total expenses | $40,760 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $44,242 |
| Other assets | $0 |
| Total assets | $44,242 |
| Total liabilities | $0 |
| Net assets or fund balances | $44,242 |
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