Magic Foundation

Analysis

Magic Foundation is a registered charity in United States, based in New Hope, PA. It received its IRS tax-exemption ruling in April 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Magic Foundation reported income of $145k and spending of $48k, leaving 67% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $74k to $145k (+96%), an average of +96% a year. The sharpest change came in the year to December 2023, when income rose by 96%. Over the whole period it spent 37% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magic Foundation sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 44th percentile within PA. Charities of a similar size with the same main cause include Peter Kirk Elementary Ptsa ($145k), Erhs PTA Inc ($145k) and SMHS QB Club ($145k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 47% of the total. At year end it held assets of $350k against liabilities of $4,901, net assets of $345k.