Magnolia Housing Inc

Analysis

Magnolia Housing Inc is a registered charity in United States, based in N Bethesda, MD. It received its IRS tax-exemption ruling in October 1992, 34 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2021, Magnolia Housing Inc reported income of $1.2m and spending of $9.8m, spending 835% of what it took in. Across the 3 years on record, from December 2019 to December 2021, income grew from $1.1m to $1.2m (+7.2%), an average of +3.5% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 354% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Magnolia Housing Inc 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 81st percentile, and in the 80th percentile within MD. Charities of a similar size with the same main cause include Habitat for Humanity in Okaloosa County Inc ($1.2m), Volunteers of America Inc ($1.2m) and Ibukun Comprehensive Community Services Inc ($1.2m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 71% and program service revenue 29% of the total. Other salaries and wages came to $112k. At year end it held assets of $6.2m against liabilities of $6.8m, net assets of -$531k.