Magnolia Band Booster Club

Analysis

Magnolia Band Booster Club is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. 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 May 2024, Magnolia Band Booster Club reported income of $115k and spending of $154k, spending 133% of what it took in. Across the 3 years on record, from May 2020 to May 2024, income fell from $197k to $115k (-41%), an average of -24% a year. The sharpest change came in the year to May 2023, when income dropped by 26%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magnolia Band Booster Club sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 44th percentile within TX. Charities of a similar size with the same main cause include Parent Booster USA Inc ($115k), Terrebonne High School Band Booster Club ($115k) and Parent Booster USA Inc ($115k).

On its Form 990-EZ for the period ending May 2024, revenue came from contributions and grants 29% and program service revenue 1.9% of the total. At year end it held assets of $68k against liabilities of $0, net assets of $68k.