Magnolia Holding Company

Organization Overview

Magnolia Holding Company is located in Galveston, TX. The organization was established in 2000. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnolia Holding Company is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.

For the year ending 12/2021, Magnolia Holding Company generated -$656.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled -$656.5k during the year ending 12/2021. While expenses have increased by 6.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

HOLDING TITLE TO PROPERTY, COLLECTING THE INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT LESS EXPENSES TO THE SEALY & SMITH FOUNDATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

.


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Board, Officers & Key Employees

Name (title)Compensation
John W Kelso
President/di
$0
John Eckel
Vice-Pres/di
$0
Michael C Doherty
Director
$0
George Sealy
Exec Vice-Pr
$0
Douglas G Rogers
Exec Dir/sec
$0
James S Jobe
Asst Sec/tre
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $478
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$656,971
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 -$656,493

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