Fundacion Magnifica Corp

Analysis

Fundacion Magnifica Corp is a registered charity in United States, based in Key Biscayne, FL. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 September 2023, Fundacion Magnifica Corp reported income of $121k and spending of $59k, leaving 52% of income unspent that year. Across the 2 years on record, from September 2022 to September 2023, income grew from $66k to $121k (+84%), an average of +84% a year. The sharpest change came in the year to September 2023, when income rose by 84%. Over the whole period it spent 56% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Fundacion Magnifica Corp sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 46th percentile within FL. Charities of a similar size with the same main cause include Youth Empowering Nation ($121k), Battlezone Ministries Inc ($121k) and Best Camp Inc ($121k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $134k against liabilities of $0, net assets of $134k.