Magnalia Homestead Foundation

Analysis

Magnalia Homestead Foundation is a registered charity in United States, based in Stokesdale, NC. It received its IRS tax-exemption ruling in June 2012, 14 years ago. 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 2022, Magnalia Homestead Foundation reported income of $303k and spending of $288k, spending 95% of its income. Across the 2 years on record, from December 2021 to December 2022, income grew from $175k to $303k (+73%), an average of +73% a year. The sharpest change came in the year to December 2022, when income rose by 73%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magnalia Homestead Foundation sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include USA Swimming Inc ($303k), The Iiibs Foundation ($303k) and Sterling - Lancaster Community Television Corporation ($303k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 84% and program service revenue 16% of the total. At year end it held assets of $148k against liabilities of $10k, net assets of $138k.