Magnolia Specialized Services Inc

Analysis

Magnolia Specialized Services Inc is a registered charity in United States, based in Magnolia, AR. It received its IRS tax-exemption ruling in December 1967, 59 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Magnolia Specialized Services Inc reported income of $3.5m and spending of $3.7m, spending 105% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.0m to $3.5m (+16%), an average of +3.0% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magnolia Specialized Services Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within AR. Charities of a similar size with the same main cause include DLCCC Inc ($3.5m), Golden Girl Inc ($3.5m) and Alamo Area Community Network ($3.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $78k (2.1% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.1m against liabilities of $153k, net assets of $2.0m. It reported 126 employees.