Magnificat Home Inc
- Assets
- $21.2k
- Revenue
- $411.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Jersey City, NJ
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 26-0473833
Organization Overview
Magnificat Home Inc is located in Jersey City, NJ. The organization was established in 2008. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Magnificat Home Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnificat Home 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 12/2021, Magnificat Home Inc generated $411.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $434.0k during the year ending 12/2021. While expenses have increased by 4.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MAGNIFICAT HOME IS A NONPROFIT ORGANIZATION OPERATING A BOARDING HOME THAT OFFERS HOUSING FOOD MEDICAL ASSISTANCE TO WOMEN IN NEED
Describe the Organization's Program Activity:
Part 3 - Line 4a
LODGING FOR WOMEN IN POVERTY.
BUILDING REPAIRS
MEALS FOR RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Florence Getugi Assistant Manager | 40 | $49,920 | |
Yesenia Montero Manager | Officer | 40 | $37,440 |
Senseehray Irving Manager | Officer | 40 | $18,000 |
Kyle Laracy President | Trustee | 1 | $0 |
Lauren Sullivan Vice President | Trustee | 1 | $0 |
Mary Mccabe Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $125,936 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $125,936 |
| Total Program Service Revenue | $285,526 |
| Investment income | $0 |
| 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 | $411,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $105,360 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,036 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $950 |
| Payroll taxes | $15,219 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,573 |
| Information technology | $1,008 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $274 |
| 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 | $0 |
| Insurance | $27,316 |
| All other expenses | $20,344 |
| Total functional expenses | $433,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,546 |
| Savings and temporary cash investments | $358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $2,250 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,154 |
| Accounts payable and accrued expenses | $5,047 |
| 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 | $0 |
| Total liabilities | $5,047 |
| Net assets without donor restrictions | $16,107 |
| Net assets with donor restrictions | $0 |
| 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 | $21,154 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Magnificat Home Inc has recieved totaling $14,103.
| Awarding Organization | Amount |
|---|---|
Richard And Mary Jacobson Private Foundation Inc Far Hills, NJ PURPOSE: DONATION | $7,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $7,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $103 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nhp Foundation New York, NY | $288,555,579 | $98,614,983 |
Viecare Beaver Llc Cranberry Township, PA | $43,089,373 | $46,860,704 |
Columbus Property Management & Development Inc Philadelphia, PA | $30,446,777 | $36,581,885 |
Nycha Ii Housing Development Fund Corporation New York, NY | $21,607,256 | $75,418,815 |
Eihab Human Services New Jersey Inc Springfield Gardens, NY | $6,084,233 | $34,447,037 |
West Side Federation For Senior Housing Inc New York, NY | $138,485,239 | $41,412,403 |
Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
East Harlem Pilot Block Housing Development Fund Co Inc New York, NY | $76,192,730 | $32,420,395 |
Orange Affordable Housing Inc New York, NY | $0 | $0 |
Housing Visions Unlimited Inc Syracuse, NY | $54,882,329 | $24,284,268 |
Phipps Houses New York, NY | $754,776,508 | $88,001,578 |
C-Hp Cove Inc New York, NY | $8,025,727 | $5,367,385 |