Magnificent Day Care Center Inc

Analysis

Magnificent Day Care Center Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 1980, 46 years ago. 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, Magnificent Day Care Center Inc reported income of $1.1m and spending of $800k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $533k to $1.1m (+102%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 41%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magnificent Day Care Center Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 83rd percentile within GA. Charities of a similar size with the same main cause include Christmas Village ($1.1m), The University Council for Educational Administration Inc ($1.1m) and Community Housing Ministry Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $67k (8.4% of expenses). Other salaries and wages came to $342k. At year end it held assets of $853k against liabilities of $26k, net assets of $827k. It reported 33 employees.