Share the Magic Foundation Inc

Analysis

Share the Magic Foundation Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Share the Magic Foundation Inc reported income of $1.6m and spending of $1.1m, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $462k to $1.6m (+250%), an average of +37% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 66% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Share the Magic Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within GA. Charities of a similar size with the same main cause include Chatham Transit Network ($1.6m), Families Helping Families at the Crossroads of Louisiana Inc ($1.6m) and Corp for Relief of Widows & CHLDRN of Clergymen of Prot Epis CH in Ny ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $271k (24% of expenses). Other salaries and wages came to $161k. At year end it held assets of $2.2m against liabilities of $257k, net assets of $1.9m. It reported 5 employees.