Magnificat Central Service Team

Analysis

Magnificat Central Service Team is a registered charity in United States, based in Metairie, LA. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending July 2023, Magnificat Central Service Team reported income of $260k and spending of $235k, spending 90% of its income. Across the 5 years on record, from July 2019 to July 2023, income fell from $309k to $260k (-16%), an average of -4.2% a year. The sharpest change came in the year to July 2021, when income rose by 208%. 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, Magnificat Central Service Team sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within LA. Charities of a similar size with the same main cause include Georgia Hospice and Palliative Care Organization Inc ($260k), Mercer County Council on Aging Inc ($260k) and Wabaunsee County Historical Society ($260k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 25% and program service revenue 51% of the total. Other salaries and wages came to $37k. At year end it held assets of $465k against liabilities of $9,315, net assets of $455k. It reported 4 employees.