Magic Wand Foundation Inc

Analysis

Magic Wand Foundation Inc is a registered charity in United States, based in Roswell, GA. It received its IRS tax-exemption ruling in September 2023, 3 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Magic Wand Foundation Inc reported income of $579k and spending of $441k, leaving 24% of income unspent that year. Across the 3 years on record, from December 2019 to December 2023, income grew from $245k to $579k (+136%), an average of +54% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 84% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Magic Wand Foundation Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within GA. Charities of a similar size with the same main cause include Haiti Foundation Against Povertyinc ($579k), NYC Impact Sports Inc ($580k) and Capital Area Soccer Association ($579k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Other salaries and wages came to $151k. At year end it held assets of $183k against liabilities of $0, net assets of $183k. It reported 3 employees.