Magnolia Mission

Analysis

Magnolia Mission is a registered charity in United States, based in Franklin, NC. It received its IRS tax-exemption ruling in September 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 July 2024, Magnolia Mission reported income of $51k and spending of $53k, spending 104% of its income. Across the 2 years on record, from July 2023 to July 2024, income grew from $30k to $51k (+70%), an average of +70% a year. The sharpest change came in the year to July 2024, when income rose by 70%. Over the whole period it spent 77% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Magnolia Mission 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 18th percentile within NC. Charities of a similar size with the same main cause include Franklin Life Pregnancy Resource Center Inc ($51k), Corpus Christi Cross Inc ($51k) and Terrebonne Patriots Inc ($51k).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $9,906 (19% of expenses). At year end it held assets of $19k against liabilities of $298, net assets of $18k.