Magdalenes Inc

Analysis

Magdalenes Inc is a registered charity in United States, based in Gulf Breeze, FL. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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, Magdalenes Inc reported income of $145k and spending of $135k, spending 93% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $203k to $145k (-29%), an average of -16% a year. The sharpest change came in the year to December 2022, when income rose by 258%. Over the whole period it spent 33% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Magdalenes Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within FL. Charities of a similar size with the same main cause include Boulder Alano Club ($145k), Open My World Therapeutic Riding Center Inc ($145k) and Project Live No 2 Inc ($145k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% of the total. Compensation of current officers, directors and key employees was $39k (29% of expenses). Other salaries and wages came to $20k. At year end it held assets of $732k against liabilities of $8,725, net assets of $723k. It reported 1 employees.