Magnolia Classical Academy

Analysis

Magnolia Classical Academy is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in June 2023, 3 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2024, Magnolia Classical Academy reported income of $306k and spending of $300k, spending 98% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $228k to $306k (+34%), an average of +34% a year. The sharpest change came in the year to June 2024, when income rose by 34%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magnolia Classical Academy 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 66th percentile within TX. Charities of a similar size with the same main cause include Learning Tree Christian School ($306k), Cedar Park Public Library Foundation ($306k) and Cypress Grove Academy ($306k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 96% of the total. At year end it held assets of $9,688 against liabilities of $0, net assets of $9,688.