Magic Sports

Analysis

Magic Sports is a registered charity in United States, based in Round Rock, TX. It received its IRS tax-exemption ruling in June 2010, 16 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Magic Sports reported income of $259k and spending of $269k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $315k to $259k (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2021, when income rose by 29%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Magic Sports sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Middleburg Association of Athletics ($259k), Warren County Y M C a Foundation Inc ($259k) and W U Area Football Club Inc ($259k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $36k (13% of expenses). At year end it held assets of $218k against liabilities of $3,634, net assets of $215k. It reported 2 employees.