Magic Foundation
- Assets
- $349.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- New Hope, PA
- Founding
- 04/2017
- Data as of
- 12/2023
- 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 12/2023, Magic Foundation generated $144.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.9% each year . All expenses for the organization totaled $48.4k during the year ending 12/2023. 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
2023
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. | 24 | $0 | |
Marty Babicki Director | 1 | $0 | |
Lauren Pura Director | 1 | $0 | |
Peter Murphy Director | 0 | $0 | |
Rick Atherholt Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,545 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $76,981 |
| Other Revenue | $254 |
| Total Revenue | $144,780 |
| 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 | $4,674 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $196 |
| Other expenses | $31,451 |
| Total expenses | $48,361 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $337,320 |
| Other assets | $0 |
| Total assets | $349,820 |
| Total liabilities | $4,901 |
| Net assets or fund balances | $344,919 |