Magnolia Heritage Academy

Analysis

Magnolia Heritage Academy is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in November 2015, 11 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 December 2023, Magnolia Heritage Academy reported income of $874k and spending of $864k, spending 99% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $301k to $874k (+190%), an average of +43% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magnolia Heritage Academy sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within TX. Charities of a similar size with the same main cause include KCM Kidz ($874k), Saints Peter and Paul Academy ($875k) and Monarch Academy Baltimore Campus Inc ($874k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $62k (7.2% of expenses). Other salaries and wages came to $464k. At year end it held assets of $85k against liabilities of $19k, net assets of $67k. It reported 31 employees.