Magnalia Foundation Inc

Analysis

Magnalia Foundation Inc is a registered charity in United States, based in Alpharetta, GA. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Magnalia Foundation Inc reported income of $111k and spending of $70k, leaving 37% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income grew from $67k to $111k (+65%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 102%. Over the whole period it spent 48% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Magnalia Foundation Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 42nd percentile within GA. Charities of a similar size with the same main cause include Dr Carol Ministries Inc ($111k), Namdhari Religious & Cultural Society of New York Inc ($111k) and Family of Faith Inc ($111k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 90% of the total. At year end it held assets of $637k against liabilities of $0, net assets of $637k.