Fundacion Corazones Magicos Inc

Analysis

Fundacion Corazones Magicos Inc is a registered charity in United States, based in LA Mirada, CA. It received its IRS tax-exemption ruling in April 2022, 4 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, Fundacion Corazones Magicos Inc reported income of $51k and spending of $54k, spending 106% of what it took in. Across the 4 years on record, from December 2018 to December 2023, income grew from $11k to $51k (+361%), an average of +66% a year. The sharpest change came in the year to December 2021, when income rose by 251%. Over the whole period it spent 84% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Fundacion Corazones Magicos Inc sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within CA. Charities of a similar size with the same main cause include Kidstartup Foundation ($51k), Operation Helping Kids ($51k) and Como Mobile Aid Collective ($51k).

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 $40k against liabilities of $0, net assets of $40k.