Magic City Enterprises Inc
- Assets
- $3.2m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 171
- Location
- Cheyenne, WY
- Founding
- 10/1985
- Data as of
- 06/2022
- EIN
- 83-0271501
Organization Overview
Magic City Enterprises Inc is located in Cheyenne, WY. The organization was established in 1985. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2022, Magic City Enterprises Inc employed 171 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic City Enterprises 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 06/2022, Magic City Enterprises Inc generated $6.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $5.6m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TRAINING, EMPLOYMENT, TRANSPORTATION, AND HOUSING FOR DISABLED INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TRAINING, EMPLOYMENT, TRANSPORTATION AND HOUSING FOR DISABLED CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clint O'connor Chair | OfficerTrustee | 1 | $0 |
Janice Haldi Vice Chair | OfficerTrustee | 1 | $0 |
Madoka Grenvik Secretary | OfficerTrustee | 1 | $0 |
Wayne Hansen Treasurer | OfficerTrustee | 1 | $0 |
Cindy Delancey Director | Trustee | 1 | $0 |
Floyd Esquibel Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $694,825 |
| Government grants | $56,010 |
| All other contributions, gifts, grants, and similar amounts not included above | $361,857 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,112,692 |
| Total Program Service Revenue | $4,658,994 |
| Investment income | $1,154 |
| 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 | $6,047,947 |
| 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. | $104,000 |
| Compensation of current officers, directors, key employees. | $104,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,776,234 |
| Pension plan accruals and contributions | $4,850 |
| Other employee benefits | $275,113 |
| Payroll taxes | $278,155 |
| 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 | $88,658 |
| Advertising and promotion | $0 |
| Office expenses | $6,320 |
| Information technology | $79,621 |
| Royalties | $0 |
| Occupancy | $109,230 |
| Travel | $12,989 |
| 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 | $144,211 |
| Insurance | $169,706 |
| All other expenses | $98,727 |
| Total functional expenses | $5,617,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $617,956 |
| Savings and temporary cash investments | $526,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,183 |
| 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 | $29,728 |
| Net Land, buildings, and equipment | $1,722,433 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $75,234 |
| Total assets | $3,174,673 |
| Accounts payable and accrued expenses | $1,556,263 |
| 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 | $109,673 |
| Other liabilities | $101,532 |
| Total liabilities | $1,767,468 |
| Net assets without donor restrictions | $1,407,205 |
| 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 | $3,174,673 |