Magic Foundation

Analysis

Magic Foundation is a registered charity in United States, based in Warrenville, IL. It received its IRS tax-exemption ruling in January 1994, 32 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 2023, Magic Foundation reported income of $1.2m and spending of $1.2m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $904k to $1.2m (+38%), an average of +8.3% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magic Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within IL. Charities of a similar size with the same main cause include Capitol Sea Devils Swimm Team ($1.2m), Hemophilia Association of New Jersey ($1.2m) and Northern Oklahoma Youth Services Center and Shelter Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $230k (19% of expenses). Other salaries and wages came to $284k. At year end it held assets of $2.8m against liabilities of $28k, net assets of $2.7m. It reported 10 employees.