Magic Depot Child Care Center Inc

Analysis

Magic Depot Child Care Center Inc is a registered charity in United States, based in Onawa, IA. It received its IRS tax-exemption ruling in February 1997, 29 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 June 2024, Magic Depot Child Care Center Inc reported income of $512k and spending of $516k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $344k to $512k (+49%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magic Depot Child Care Center Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within IA. Charities of a similar size with the same main cause include Little Tokyo Nutrition Services ($512k), Ninilchik Senior Citizens Incorporation ($512k) and Family Promise North Shore Boston Inc ($512k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $42k (8.2% of expenses). Other salaries and wages came to $281k. At year end it held assets of $773k against liabilities of $429k, net assets of $344k. It reported 42 employees.