Mag America Inc

Analysis

Mag America Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Mag America Inc reported income of $69.5m and spending of $69.2m, spending 100% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $33.0m to $69.5m (+111%), an average of +16% a year. The sharpest change came in the year to December 2020, when income rose by 155%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Mag America Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within DC. Charities of a similar size with the same main cause include Evergreen Presbyterian Ministries Inc ($69.5m), Youth Consultation Service Inc ($69.5m) and Young Mens Christian Association of the East Bay ($69.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $188k (0.3% of expenses). Other salaries and wages came to $390k. At year end it held assets of $14.3m against liabilities of $13.7m, net assets of $557k. It reported 6 employees.