Magical Beginnings Early Childhood Center Inc

Analysis

Magical Beginnings Early Childhood Center Inc is a registered charity in United States, based in Corydon, IA. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Magical Beginnings Early Childhood Center Inc reported income of $359k and spending of $366k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $329k to $359k (+9.2%), an average of +2.2% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magical Beginnings Early Childhood Center Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within IA. Charities of a similar size with the same main cause include Menucha Chesed Services Corp ($359k), Community Ministry of Prince George S County Maryland ($359k) and First Generation Investors ($359k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. Other salaries and wages came to $295k. At year end it held assets of $320k against liabilities of $2,099, net assets of $318k. It reported 30 employees.