Magnolia Rose Cottage Inc

Analysis

Magnolia Rose Cottage Inc is a registered charity in United States, based in Waynesboro, VA. It received its IRS tax-exemption ruling in March 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 (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, Magnolia Rose Cottage Inc reported income of $171k and spending of $71k, leaving 58% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $26k to $171k (+565%), an average of +565% a year. The sharpest change came in the year to December 2023, when income rose by 565%. Over the whole period it spent 43% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magnolia Rose Cottage Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within VA. Charities of a similar size with the same main cause include Louisiana Reach Haiti Inc ($171k), Elgin Livestock Show Association ($171k) and Strongfamilies Inc ($171k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 7.1% of the total. At year end it held assets of $114k against liabilities of $1,710, net assets of $112k.