Georgia Magnet-Charter Schools Foundation Corp

Analysis

Georgia Magnet-Charter Schools Foundation Corp is a registered charity in United States, based in Hapeville, GA. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Georgia Magnet-Charter Schools Foundation Corp reported income of $8.8m and spending of $9.9m, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $11.3m to $8.8m (-22%), an average of -5.9% a year. The sharpest change came in the year to June 2023, when income dropped by 36%. Over the whole period it spent 100% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Georgia Magnet-Charter Schools Foundation Corp sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within GA. Charities of a similar size with the same main cause include The Center School ($8.8m), Achievement Preparatory Academy Public Charter School ($8.8m) and G-Star School of the Arts Inc ($8.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $262k (2.6% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $23.3m against liabilities of $28.1m, net assets of -$4.8m. It reported 111 employees.