Magnificat Houses Inc

Analysis

Magnificat Houses Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in February 1969, 57 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 June 2023, Magnificat Houses Inc reported income of $3.0m and spending of $4.7m, spending 155% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.3m to $3.0m (-8.3%), an average of -2.1% a year. The sharpest change came in the year to June 2020, when income dropped by 36%. Over the whole period it spent 120% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Magnificat Houses Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within TX. Charities of a similar size with the same main cause include Drogadictos Anonimos USA Inc ($3.0m), Human Immunome Project Inc ($3.0m) and Polly Ryon Memorial Hospital Foundation ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $155k (3.3% of expenses). Other salaries and wages came to $837k. It paid $34k in professional fundraising fees. At year end it held assets of $7.3m against liabilities of $4.5m, net assets of $2.8m. It reported 38 employees.