Civic Intelligence

Magnificat Foundation Inc

990 • Fiscal year 2016 • EIN 27-2942525

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 11, 2017

86 MAIN STREET No 303Yonkers, NY 10701

(914) 502-1855

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.08x

Higher debt load relative to assets than 76% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

0.35x

Higher debt load relative to revenue than 90% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

7th percentile

-61%

Higher net margin than 7% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

26th percentile

-13%

Faster asset growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-81%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$70,990

Down $10,606 (-13%) from 2015

Net Assets

Down

$64,990

Down $10,606 (-14%) from 2015

Liabilities

Flat

$6,000

Flat from 2015

Revenue

Down

$17,364

Down $75,052 (-81%) from 2015

Expenses

Down

$27,970

Down $56,823 (-67%) from 2015

Net Income

Down

-$10,606

Down $18,229 (-239%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2015: $81,596Liabilities 2015: $6,000Net Assets 2015: $75,5962015Assets 2016: $70,990Liabilities 2016: $6,000Net Assets 2016: $64,9902016Assets 2017: $593,329Liabilities 2017: $18,856Net Assets 2017: $574,4732017Assets 2018: $212,963Liabilities 2018: $6,065Net Assets 2018: $206,8982018Assets 2019: $238,286Liabilities 2019: $38,625Net Assets 2019: $199,6612019Assets 2020: $255,632Liabilities 2020: $50,778Net Assets 2020: $204,8542020Assets 2021: $250,353Liabilities 2021: $36,150Net Assets 2021: $214,2032021Assets 2022: $246,604Liabilities 2022: $37,937Net Assets 2022: $208,6672022Assets 2023: $201,505Liabilities 2023: $5,051Net Assets 2023: $196,4542023Assets 2024: $814,263Liabilities 2024: $15,314Net Assets 2024: $798,9492024

Highlighted filing

2016

Assets$70,990
Liabilities$6,000
Net Assets$64,990

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2015: $92,416Expenses 2015: $84,793Net Income 2015: $7,6232015Revenue 2016: $17,364Expenses 2016: $27,970Net Income 2016: -$10,6062016Revenue 2017: $617,617Expenses 2017: $108,134Net Income 2017: $509,4832017Revenue 2018: $269,409Expenses 2018: $636,983Net Income 2018: -$367,5742018Revenue 2019: $55,203Expenses 2019: $62,440Net Income 2019: -$7,2372019Revenue 2020: $23,247Expenses 2020: $18,054Net Income 2020: $5,1932020Revenue 2021: $20,647Expenses 2021: $11,298Net Income 2021: $9,3492021Revenue 2022: $20,341Expenses 2022: $25,052Net Income 2022: -$4,7112022Revenue 2023: $29,845Expenses 2023: $42,058Net Income 2023: -$12,2132023Revenue 2024: $651,610Expenses 2024: $49,115Net Income 2024: $602,4952024

Highlighted filing

2016

Revenue$17,364
Expenses$27,970
Net Income-$10,606
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 11, 2017
Return Version
2016v3.0
Gross Receipts
$17,364
Mission and Program Overview

Mission

To promote expressions of faith, prayer, and devotion consistent with the magisterium and authoritative moral guidance of the catholic church, and to raise and provide financing and sponsorship of conferences, conventions, publications, missions, video recordings and other instruments that support the corporation's mission, and to make available these opportunities and instruments especially for those without easy access to them.

To promote expressions of faith, prayer, and devotion.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$32,503$24,397▼ $8,106
Pledges and Grants Receivable$2,500$0▼ $2,500
Total Assets$81,596$70,990▼ $10,606
Other Assets Total$46,593$46,593→ $0
Liabilities
Accounts Payable and Accrued Expenses$6,000$6,000→ $0
Total Liabilities$6,000$6,000→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$75,596$64,990▼ $10,606
Total Net Assets Fund Balance$75,596$64,990▼ $10,606
Total Liabilities and Net Assets / Fund Balance$81,596$70,990▼ $10,606

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$46,593--
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$12,055
Program Service Revenue
$1,265
Investment Income
$0
Other Revenue
$4,044
All Other Contributions
$12,055
Change in Net Assets
$-10,606
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$27,970
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$8,079-$8,079
Conferences and Meetings$7,955--$7,955
Insurance-$4,038-$4,038
Other Expenses$3,320$2,500-$2,500
Office Expenses-$1,082-$1,082
Fees for Services Other-$727-$727
Information Technology-$269-$269
Total Functional Expenses$11,275$16,695$0$27,970
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

Axel d'epinay is director and officer of aleteia usa, inc., and an officer of the foundation and magnificat international, inc. And subsidiaries. Pierre-marie dumont is director of the foundation, and director and officer of aleteia usa, inc. And magnificat international, inc. And subsidiaries. Vincent montagne is director of the foundation, aleteia usa, inc. And magnificat international, inc. And subsidiaries. Stephen kramer is secretary of the foundation and magnificat international, inc. And subsidiaries. Romanus cessario is chairman of the foundation and senior editor of magnificat, inc. Bernada neal is director of aleteia usa, inc.

Form 990, Part VI, Section B, line 11B

Ceo/treasurer will review with president and will share with board. Any comments or issues will be reviewed with them.

Form 990, Part VI, Section B, line 12C

Directors and officer sign a form where they list any conflict of interest and other institutions where they held a position that could be in conflict.

Form 990, Part VI, Section C, line 19

Organization makes its governing documents and conflict of interest policy available to the public upon request

Filing and Contact Details

Filer

Filer Name
Magnificat Foundation Inc
EIN
27-2942525
Phone
9145021855
Address
86 MAIN STREET No 303, YONKERS, NY 10701

Signing Officer

Name
AXEL D'EPINAY
Title
CFO/treasurer
Phone
9145021855
Signed
2017-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
AXEL D'EPINAY
Formed
2010
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
15

Preparer

Firm
Mazars USA Llp
Address
135 WEST 50TH STREET, NEW YORK, NY 10020-0002
Preparer
Israel Tannenbaum
Phone
2128127000
Supplemental Narrative

Additional Explanations

Form 990 Line H

Group exemption magnificat foundation inc is included in the united states conference of catholic bishops (usccb).

Financial Statement Notes

Part III, Line 4:

In 2013, the foundation was gifted relics of st therese and her blessed parents, for which it ordered a familial reliquary to host the relics.

Raw XML AppendixShowing 400 of 438 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0111202
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0919389
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/AssetsIncludedAmt046593
IRS990ScheduleD/ArtPublicExhibitionAmountsGrp/RevenuesIncludedAmt00
IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt046593
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FAMILIAL RELIQUARY OF SAINT THERESE AND HER PARENTS
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN 2013, THE FOUNDATION WAS GIFTED RELICS OF ST THERESE AND HER BLESSED PARENTS, FOR WHICH IT ORDERED A FAMILIAL RELIQUARY TO HOST THE RELICS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt046593
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GROUP EXEMPTION MAGNIFICAT FOUNDATION INC IS INCLUDED IN THE UNITED STATES CONFERENCE OF CATHOLIC BISHOPS (USCCB).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AXEL D'EPINAY IS DIRECTOR AND OFFICER OF ALETEIA USA, INC., AND AN OFFICER OF THE FOUNDATION AND MAGNIFICAT INTERNATIONAL, INC. AND SUBSIDIARIES. PIERRE-MARIE DUMONT IS DIRECTOR OF THE FOUNDATION, AND DIRECTOR AND OFFICER OF ALETEIA USA, INC. AND MAGNIFICAT INTERNATIONAL, INC. AND SUBSIDIARIES. VINCENT MONTAGNE IS DIRECTOR OF THE FOUNDATION, ALETEIA USA, INC. AND MAGNIFICAT INTERNATIONAL, INC. AND SUBSIDIARIES. STEPHEN KRAMER IS SECRETARY OF THE FOUNDATION AND MAGNIFICAT INTERNATIONAL, INC. AND SUBSIDIARIES. ROMANUS CESSARIO IS CHAIRMAN OF THE FOUNDATION AND SENIOR EDITOR OF MAGNIFICAT, INC. BERNADA NEAL IS DIRECTOR OF ALETEIA USA, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CEO/TREASURER WILL REVIEW WITH PRESIDENT AND WILL SHARE WITH BOARD. ANY COMMENTS OR ISSUES WILL BE REVIEWED WITH THEM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS AND OFFICER SIGN A FORM WHERE THEY LIST ANY CONFLICT OF INTEREST AND OTHER INSTITUTIONS WHERE THEY HELD A POSITION THAT COULD BE IN CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 LINE H
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd20
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0510382623
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1200121857
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN2473811913
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt2C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd2NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0HOLDING COMPANY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1PUBLISHING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2NEWS AND LIFESTYLE WEBSITE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MAGNIFICAT INTERNATIONAL INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1MAGNIFICAT INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2ALETEIA USA INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt086 MAIN STREET STE 303
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt186 MAIN STREET STE 303
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt286 MAIN STREET STE 303
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0YONKERS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1YONKERS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm2YONKERS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd1NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd2NY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd010701
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd110701
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd210701
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt081596
IRS990/TotalAssetsEOYAmt070990
IRS990/TotalAssetsGrp/BOYAmt081596
IRS990/TotalAssetsGrp/EOYAmt070990
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt012055
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016695
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt011275
IRS990/TotalFunctionalExpensesGrp/TotalAmt027970
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06000
IRS990/TotalLiabilitiesEOYAmt06000
IRS990/TotalLiabilitiesGrp/BOYAmt06000
IRS990/TotalLiabilitiesGrp/EOYAmt06000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt075596
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt064990
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt011275
IRS990/TotalProgramServiceRevenueAmt01265
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04044
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01265
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt017364
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081596
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt070990
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt075596
IRS990/UnrestrictedNetAssetsGrp/EOYAmt064990
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt086 MAIN STREET
IRS990/USAddress/CityNm0YONKERS
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010701

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