Mid-Atlantic Gigabit Innovation Collaboratory Inc
- Assets
- $63.3k
- Revenue
- $363.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Westminster, MD
- Founding
- 04/2016
- Data as of
- 06/2023
- EIN
- 81-1092703
Organization Overview
Mid-Atlantic Gigabit Innovation Collaboratory Inc, operating under the name MAGIC Inc, is located in Westminster, MD. The organization was established in 2016. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 06/2023, MAGIC Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. MAGIC 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 06/2023, MAGIC Inc generated $363.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 56.4% each year . All expenses for the organization totaled $447.8k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN CREATING ECONOMIC DEVELOPMENT OPPORTUNITIES, AND TO ENCOURAGE AND ASSIST TECHNOLOGICAL INNOVATION BY BUSINESSES IN THE CITY OF WESTMINSTER, MD AND SURROUNDING ENVIRONS, AND TO DO ANYTHING ELSE PERMITTED BY THE CORPORATION AND ASSOCIATIONS LAW OF THE STATE OF MARYLAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTMINSTER AUTONOMOUS ROBOTICS INNOVATION CENTER, ARIC, WILL BE A PERMANENT TRAINING AND EDUCATIONAL FACILITY IN THE HEART OF WESTMINSTER, MARYLAND. THIS FACILITY WILL FEATURE VARIOUS AUTONOMOUS AND ROBOTICS PROJECTS AND HANDS ON EDUCATIONAL OPPORTUNITIES. ARIC WILL HELP STUDENTS DEVELOP SOFTWARE, CODING, AND DATA ANALYTICS SKILLS AND EXPERIENCES THAT ARE APPLICABLE TO A VARIETY OF INDUSTRIES, NOT JUST ROBOTICS ENGINEERING. BEYOND SIMPLY TEACHING TECHNICAL SKILLS, STEM EDUCATION FOSTERS CRITICAL THINKING, BUILDS TEAMWORK AND COMMUNICATIONS SKILLS, AND NURTURES STUDENTS NATURAL CURIOSITY.
THE REST OF THE SMALLER PROGRAMS INCLUDE 1 MILLION CUPS, ANGEL NETWORK, AUTONOMOUS PROJECT, BOOT CAMPS, HACKATHON, EDUCATIONAL SERVICES, CYBER JOBS, CYBER SIP, ESPORTS ARENA, INNOVATORS OF PROGRESS, AND SPIRE GIRLS.
GOOD GAME FESTIVAL AND GOOD GAME ON MAIN SEEKS TO ENCOURAGE AND SUPPORT PLAYERS OF ALL AGES. WE PROMOTE HEALTHY, SUSTAINABLE GAMING HABITS AND PRACTICES WHILE HIGHLIGHTING GOOD SPORTSMANSHIP AND GAMES EDUCATION. YOUNG AND OLD, CASUAL AND PROFESSIONAL, CONSOLE OR PC - GAMING CAN BE A GREAT WAY TO CONNECT AND ENGAGE WITH OTHERS WHO HAVE THE SAME INTERESTS.
MAGIC'S CAPTURE THE FLAG EVENTS OPERATE ON A HYBRID MODEL, UTILIZING PHYSICAL HOST LOCATIONS AND VIRTUAL PLATFORM IN RESPONSE TO THE COVID-19 PANDEMIC. THESE EVENTS PROVIDED TRAINING FOR STUDENTS IN THE CYBERSECURITY AND IN DEPT NETWORKING FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Graham Dodge Executive Director | Officer | 30 | $90,035 |
Jennifer Yang President | Officer | 1 | $0 |
Richard Leimbach Treasurer | Officer | 1 | $0 |
Vickie Slinkman Secretary | Officer | 0.25 | $0 |
Davida Anderson Board Member | Officer | 0.15 | $0 |
Gary Bowman Board Member | Officer | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $107,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $195,855 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $303,355 |
| Total Program Service Revenue | $60,401 |
| 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 | $363,756 |
| 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. | $90,035 |
| Compensation of current officers, directors, key employees. | $73,678 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,859 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,659 |
| Payroll taxes | $15,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $653 |
| 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 | $123 |
| Advertising and promotion | $13,416 |
| Office expenses | $14,066 |
| Information technology | $23,240 |
| Royalties | $0 |
| Occupancy | $128,383 |
| Travel | $1,247 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $282 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,173 |
| All other expenses | $0 |
| Total functional expenses | $447,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,789 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,500 |
| 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 | $0 |
| 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 | $63,289 |
| Accounts payable and accrued expenses | $9,705 |
| 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 | $82,126 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $91,831 |
| Net assets without donor restrictions | -$51,453 |
| Net assets with donor restrictions | $22,911 |
| 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 | $63,289 |