Magic Grants

Analysis

Magic Grants is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in August 2020, 6 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 July 2023, Magic Grants reported income of $304k and spending of $172k, leaving 43% of income unspent that year. Across the 2 years on record, from July 2022 to July 2023, income grew from $112k to $304k (+173%), an average of +173% a year. The sharpest change came in the year to July 2023, when income rose by 173%. Over the whole period it spent 50% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magic Grants sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CO. Charities of a similar size with the same main cause include Community Enhancement Foundation of Plains ($304k), Parami Liberal Arts & Sciences Fund ($304k) and Dream Bikes Inc ($304k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 102% of the total. At year end it held assets of $256k against liabilities of $0, net assets of $256k.