Magnolia CDC

Analysis

Magnolia CDC is a registered charity in United States, based in Opelousas, LA. It received its IRS tax-exemption ruling in December 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2022, Magnolia CDC reported income of $383k and spending of $553k, spending 144% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $68k to $383k (+462%), an average of +78% a year. The sharpest change came in the year to December 2022, when income rose by 614%. Over the whole period it spent 154% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Magnolia CDC sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within LA. Charities of a similar size with the same main cause include Sunday Creek Associates ($383k), Break a Difference ($383k) and Friends of the Genoa Tower Inc ($383k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $62k (11% of expenses). At year end it held assets of $199k against liabilities of $529k, net assets of -$330k. It reported 1 employees.