Magic Foundation
- Assets
- $209.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New Hope, PA
- Founding
- 04/2017
- Data as of
- 12/2021
- EIN
- 81-3801305
Organization Overview
Magic Foundation is located in New Hope, PA. The organization was established in 2017. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Foundation 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, Magic Foundation generated $76.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 49.0% each year . All expenses for the organization totaled $20.3k during the year ending 12/2021. While expenses have increased by 19.4% per year over the past 6 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO ADVOCATE FOR AND INVEST IN THE WELL-BEING OF CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve A Grosso Chairman & CEO | 10 | $0 | |
Sharon Grosso Executive Dir. | 20 | $0 | |
Marty Babicki COO | 2 | $0 | |
Lauren Pura Director | 2 | $0 | |
Peter Murphy Director | 2 | $0 | |
Rick Atherholt Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,632 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $20,910 |
| Other Revenue | $152 |
| Total Revenue | $76,694 |
| 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 | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $265 |
| Other expenses | $19,832 |
| Total expenses | $20,311 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $180,255 |
| Other assets | $0 |
| Total assets | $209,686 |
| Total liabilities | $2,192 |
| Net assets or fund balances | $207,494 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Magic Foundation has recieved totaling $13,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Euclid Avenue Development Corporation Cleveland, OH | $92,407,891 | $9,458,468 |
United Community Schools Inc New York, NY | $17,599,679 | $9,226,471 |
College Achieve Public Charter Schools Inc Tinton Falls, NJ | $2,920,283 | $10,421,988 |
Friends Of Hellenic Classical Charter Schools Inc Brooklyn, NY | $82,915,888 | $678,941 |
Student Achievement Partners Inc New York, NY | $8,247,794 | $7,455,301 |
Csdc Facilities Corporation Hanover, MD | $43,951,626 | $6,090,721 |
Kingston Educational Holdings 1 Inc Newark, NJ | $70,775,295 | $5,822,683 |
Uka Facilities Foundation Inc New York, NY | $167,163,417 | $25,000 |
Association Of Theological Schools Pittsburgh, PA | $47,043,534 | $8,843,777 |
Electronic Information Network Pittsburgh, PA | $3,863,971 | $4,949,753 |
University Of Cincinnati Research Institute Cincinnati, OH | $5,011,413 | $4,382,075 |
Fayette County Child Development Inc Oak Hill, WV | $1,256,000 | $4,245,853 |