Magical Bridge Foundation

Analysis

Magical Bridge Foundation is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in December 2016, 10 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Magical Bridge Foundation reported income of $1.2m and spending of $2.5m, spending 205% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.5m to $1.2m (-52%), an average of -17% a year. The sharpest change came in the year to December 2022, when income rose by 132%. Over the whole period it spent 85% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Magical Bridge Foundation 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 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Track Nationals Inc ($1.2m), Western District Designated Operations Association ($1.2m) and Dallas Tennis Association ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $277k (11% of expenses). Other salaries and wages came to $338k. At year end it held assets of $4.6m against liabilities of $79k, net assets of $4.5m. It reported 7 employees.