Magic Fund Inc

Analysis

Magic Fund Inc is a registered charity in United States, based in Nevada City, CA. It received its IRS tax-exemption ruling in December 2019, 7 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, Magic Fund Inc reported income of $211k and spending of $85k, leaving 60% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $86k to $211k (+144%), an average of +144% a year. The sharpest change came in the year to December 2023, when income rose by 144%. Over the whole period it spent 63% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magic Fund Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 57th percentile within CA. Charities of a similar size with the same main cause include Clock Inc ($211k), Hanover Area Food Shelf Inc ($211k) and Mb2 Family Foundation ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $182k against liabilities of $333, net assets of $182k.