Magnolia Education Foundation

Analysis

Magnolia Education Foundation is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Magnolia Education Foundation reported income of $242k and spending of $173k, leaving 29% of income unspent that year. Across the 4 years on record, from May 2020 to May 2023, income grew from $216k to $242k (+12%), an average of +3.9% a year. The sharpest change came in the year to May 2021, when income dropped by 100%. Over the whole period it spent 76% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Magnolia Education Foundation sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 62nd percentile within TX. Charities of a similar size with the same main cause include Outpost Foundation ($242k), Texas Equine Veterinary Association Foundation ($242k) and Corazon de Nina ($242k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $157k against liabilities of $0, net assets of $157k.