Steel Magnolia Moms

Analysis

Steel Magnolia Moms is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in October 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Steel Magnolia Moms reported income of $249k and spending of $242k, spending 97% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $226k to $249k (+10%), an average of +5.1% a year. Over the whole period it spent 70% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Steel Magnolia Moms sits at the 52nd percentile: it is larger than about 52% 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 Gallant Hearts Guide Dog Center ($249k), Lifebuilders International Inc ($249k) and Juvenile Justice Coalition ($249k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.2% of the total. At year end it held assets of $356k against liabilities of $18k, net assets of $338k.