Magic Soccer Club Inc

Analysis

Magic Soccer Club Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in February 1997, 29 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 July 2024, Magic Soccer Club Inc reported income of $102k and spending of $122k, spending 119% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income grew from $35k to $102k (+188%), an average of +30% a year. The sharpest change came in the year to July 2021, when income rose by 175%. Over the whole period it spent 127% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Magic Soccer Club Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 36th percentile within WI. Charities of a similar size with the same main cause include Rices Horses & More Outreach ($102k), Tewksbury Girls Basketball League Inc ($102k) and LA Canada Sports Association ($102k).

On its Form 990-EZ for the period ending July 2024, revenue came from contributions and grants 2.8% and program service revenue 97% of the total. At year end it held assets of $68k against liabilities of $0, net assets of $68k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.