Magnolia Community Services Inc

Analysis

Magnolia Community Services Inc is a registered charity in United States, based in Jefferson, LA. It received its IRS tax-exemption ruling in April 1938, 88 years ago. 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 2023, Magnolia Community Services Inc reported income of $19.4m and spending of $15.9m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.3m to $19.4m (+71%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Magnolia Community Services Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within LA. Charities of a similar size with the same main cause include Our Lady of Hope Health Center Inc ($19.4m), Stapeley Hall ($19.4m) and Mississippi County Arkansas Economic Opportunity Commission in ($19.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $156k (1.0% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $28.7m against liabilities of $1.0m, net assets of $27.7m. It reported 186 employees.