Military Magnet School Foundation

Analysis

Military Magnet School Foundation is a registered charity in United States, based in N Charleston, SC. It received its IRS tax-exemption ruling in January 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Military Magnet School Foundation reported income of $51k and spending of $48k, spending 93% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $57k to $51k (-10%), an average of -10% a year. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Military Magnet School Foundation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 26th percentile within SC. Charities of a similar size with the same main cause include Colm Cille Club ($51k), McFarland Education Foundation Inc ($51k) and Hilary Grace Foundation Inc ($51k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $332k against liabilities of $0, net assets of $332k.