Magnolia Support Group

Analysis

Magnolia Support Group is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Magnolia Support Group reported income of $207k and spending of $199k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $93k to $207k (+122%), an average of +122% a year. The sharpest change came in the year to December 2023, when income rose by 122%. Over the whole period it spent 90% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Magnolia Support Group sits at the 59th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 58th percentile within TX. Charities of a similar size with the same main cause include Growing Years Childrens Academy ($207k), Phillips County Healthcare Foundation Inc ($207k) and Suwannee Foundation for Excellence in Education Inc ($206k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 6.6% of the total. At year end it held assets of $53k against liabilities of $0, net assets of $53k.