Liabilities / Assets
38th percentile
Higher debt load relative to assets than 38% of similar nonprofits.
EIN 27-3053614 • 501(c)3 • Houston, TX
Profile
Magic bus works with marginalized children and youth in india and ecosystem around them to help break the cycle of social and economic deprivation using sport and activity based approaches that include mentoring as a tool and are founded on the principle of human rights, promoting education, health, gender, equality and sustainable livelihoods.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
38th percentile
Higher debt load relative to assets than 38% of similar nonprofits.
Liabilities / Revenue
52nd percentile
Higher debt load relative to revenue than 52% of similar nonprofits.
Net Margin
6th percentile
Higher net margin than 6% of similar nonprofits.
Top Officer Pay
70th percentile
Higher top officer pay than 70% of similar nonprofits.
Top officer pay equals 5.2% of source-year revenue.
Asset Growth
93rd percentile
Faster asset growth than 93% of similar nonprofits.
Revenue Growth
11th percentile
Faster revenue growth than 11% of similar nonprofits.
Assets
Down$5,155,852
Down $718,820 (-12%) from 2023
Liabilities
Up$295,877
Up $184,877 (+167%) from 2023
Net Assets
Down$4,859,975
Down $903,697 (-16%) from 2023
Revenue
Down$1,746,724
Down $5,043,999 (-74%) from 2023
Expenses
Down$2,650,421
Down $342,604 (-11%) from 2023
Net Income
Down-$903,697
Down $4,701,395 (-124%) from 2023
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
Magic Bus works with marginalized children and youth in India and ecosystem around them to help break the cycle of social and economic deprivation using sport and activity based approches that include mentoring as a tool and are founded on the principle of human rights, promoting education, health, gender, equality and sustainable livelihoods
Magic bus works with marginalized children and youth in india and ecosystem around them to help break the cycle of social and economic deprivation using sport and activity based approaches that include mentoring as a tool.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $4,931,514 | $4,510,390 | ▼ $421,124 |
| Accounts Receivable | $856,965 | $592,576 | ▼ $264,389 |
| Investments Other Securities | $35,443 | $35,295 | ▼ $148 |
| Prepaid Expenses and Deferred Charges | $50,750 | $17,591 | ▼ $33,159 |
| Total Assets | $5,874,672 | $5,155,852 | ▼ $718,820 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $110,100 | $294,977 | ▲ $184,877 |
| Other Liabilities | $900 | $900 | → $0 |
| Total Liabilities | $111,000 | $295,877 | ▲ $184,877 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $5,212,935 | $3,609,392 | ▼ $1,603,543 |
| Net Assets Without Donor Restrictions | $550,737 | $1,250,583 | ▲ $699,846 |
| Total Net Assets Fund Balance | $5,763,672 | $4,859,975 | ▼ $903,697 |
| Total Liabilities and Net Assets / Fund Balance | $5,874,672 | $5,155,852 | ▼ $718,820 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Sarah Currid | Executive Director | FT | $41,934 | $41,934 |
| Name | Title |
|---|---|
| Amit Bhandari | Chairman |
| Arpan Sheth | Director |
| Ash Somani | Director |
| Avinash Vashistha | Director |
| Kapil Mathur | Director |
| Matthew Spacie | Director |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Other Non Cash Contri Table | 8 | $189,000 | Fair Market Value (FMV) |
| Total Noncash Contributions | 8 | $189,000 | - |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $2,512,756 |
| Other Expenses | $90,123 |
| Total Fundraising Expense | $73,347 |
| Salaries, Compensation, and Employee Benefits | $47,542 |
| Professional Fundraising Fees | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Foreign Grants | $2,512,756 | - | - | $2,512,756 |
| Fees for Services Other | - | $34,776 | $9,561 | $44,337 |
| Comp Disqual Persons | - | - | $41,934 | $41,934 |
| Office Expenses | - | $3,736 | $17,207 | $20,943 |
| Fees for Services Accounting | - | $13,886 | - | $13,886 |
| Travel | - | - | $4,311 | $4,311 |
| Other Salaries and Wages | - | $3,774 | $334 | $4,108 |
| Information Technology | - | $3,599 | - | $3,599 |
| Insurance | - | $3,047 | - | $3,047 |
| Other Employee Benefits | - | $1,500 | - | $1,500 |
| Total Functional Expenses | $2,512,756 | $64,318 | $73,347 | $2,650,421 |
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $2,788,718 |
| Expenses per Audited Statements | $2,650,421 |
| Total Expenses per Form 990 | $2,650,421 |
| Expenses Not Reported on Form 990 | $138,297 |
| Expenses Not Reported on Financial Statements | $0 |
| Line Item | Amount |
|---|---|
| Fundraising Direct Expenses | $242,634 |
| Fundraising Gross Income | $104,337 |
| Professional Fundraising Fees | $0 |
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| GALA'S | $334,636 | $104,337 | $95,421 | $8,916 |
| Total Events | $334,636 | $104,337 | $242,634 | $-138,297 |
| Liability | Amount |
|---|---|
| Sba Loan | $900 |
“A complete copy of this form 990 will be provided to all members of its governing body by electronic transmission.”
“The conflict of interest policy is being followed as per the bylaws and any possible event is being discussed among members of the governing body as per the entity's byelaws.”
“UPON REQUEST.”
“The foundation is exempt from federal income taxes under 501(c)(3) of the internal revenue code. Therefore, no provision for federal income tax has been made in these financial statements. The foundation utilizes the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2024 and 2023, the foundation has no uncertain tax positions that qualify for recognition or disclosure in the financial statements.”
“SPECIAL EVENTS 138,297.”
“SPECIAL EVENTS 138,297.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 294977 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 856965 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 592576 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | MAGIC BUS WORKS WITH MARGINALIZED CHILDREN AND YOUTH IN INDIA AND ECOSYSTEM AROUND THEM TO HELP BREAK THE CYCLE OF SOCIAL AND ECONOMIC DEPRIVATION USING SPORT AND ACTIVITY BASED APPROACHES THAT INCLUDE MENTORING AS A TOOL. |
| IRS990/AllOtherContributionsAmt | 0 | 1450477 |
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| IRS990/AuditCommitteeInd | 0 | 1 |
| IRS990/BackupWthldComplianceInd | 0 | 1 |
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| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 8327759009 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 1500 CITY WEST BLVD SUITE 700 |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | HOUSTON |
| IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd | 0 | TX |
| IRS990/BooksInCareOfDetail/USAddress/ZIPCd | 0 | 77042 |
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| IRS990/BusinessRlnWithOrgMemInd | 0 | 0 |
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| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 4510390 |
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| IRS990/CollectionsOfArtInd | 0 | 0 |
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| IRS990/CompDisqualPersonsGrp/TotalAmt | 0 | 41934 |
| IRS990/CompensationFromOtherSrcsInd | 0 | 0 |
| IRS990/CompensationProcessCEOInd | 0 | 0 |
| IRS990/CompensationProcessOtherInd | 0 | 0 |
| IRS990/ConflictOfInterestPolicyInd | 0 | 1 |
| IRS990/ConservationEasementsInd | 0 | 0 |
| IRS990/ConsolidatedAuditFinclStmtInd | 0 | 0 |
| IRS990/ContriRptFundraisingEventAmt | 0 | 230299 |
| IRS990/CreditCounselingInd | 0 | 0 |
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| IRS990/CYContributionsGrantsAmt | 0 | 1680776 |
| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 2512756 |
| IRS990/CYInvestmentIncomeAmt | 0 | 204245 |
| IRS990/CYOtherExpensesAmt | 0 | 90123 |
| IRS990/CYOtherRevenueAmt | 0 | -138297 |
| IRS990/CYProgramServiceRevenueAmt | 0 | 0 |
| IRS990/CYRevenuesLessExpensesAmt | 0 | -903697 |
| IRS990/CYSalariesCompEmpBnftPaidAmt | 0 | 47542 |
| IRS990/CYTotalExpensesAmt | 0 | 2650421 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 73347 |
| IRS990/CYTotalProfFndrsngExpnsAmt | 0 | 0 |
| IRS990/CYTotalRevenueAmt | 0 | 1746724 |
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| IRS990/DeductibleNonCashContriInd | 0 | 1 |
| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/Desc | 0 | MAGIC BUS ENVISIONS A WORLD WHERE MARGINALIZED YOUTH IN INDIA AND ACROSS SOUTH ASIA ARE PROVIDED THE OPPORTUNITIES TO BREAK THE CYCLE OF INHERITED POVERTY. WE DO THIS BY TEACHING ESSENTIAL LIFE SKILLS, SUPPORTING STUDENTS WITH ACADEMIC CHALLENGES, PROVIDING EMPLOYABILITY EDUCATION, AND CONNECTING OUR PROGRAM PARTICIPANTS TO WORK WHICH ENABLES THEM TO THRIVE IN THEIR TRANSITION TO ADULTHOOD. |
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| IRS990/EmploymentTaxReturnsFiledInd | 0 | 1 |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 13886 |
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| IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt | 0 | 34776 |
| IRS990/FeesForServicesOtherGrp/TotalAmt | 0 | 44337 |
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| IRS990/ForeignFinancialAccountInd | 0 | 0 |
| IRS990/ForeignGrantsGrp/ProgramServicesAmt | 0 | 2512756 |
| IRS990/ForeignGrantsGrp/TotalAmt | 0 | 2512756 |
| IRS990/ForeignOfficeInd | 0 | 0 |
| IRS990/Form8282PropertyDisposedOfInd | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 0 | 5.00 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 1.00 |
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| IRS990/ReportOtherAssetsInd | 0 | 0 |
| IRS990/ReportOtherLiabilitiesInd | 0 | 1 |
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| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1082648 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 174 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 233 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 304929 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.59090 |
| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.57480 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 8840665 |
| IRS990ScheduleA/SubstantialContributorsTotAmt | 0 | 5816068 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
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| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 6838642 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 3315797 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 1082648 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 1738870 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 14656733 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 14961662 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | 1 |
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| IRS990ScheduleD/ExpensesNotRptFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 2650421 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 900 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | SBA LOAN |
| IRS990ScheduleD/OtherRevenueAmt | 0 | 138297 |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 138297 |
| IRS990ScheduleD/RevenueNotReportedFinclStmtAmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 1746724 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR FEDERAL INCOME TAX HAS BEEN MADE IN THESE FINANCIAL STATEMENTS. THE FOUNDATION UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2024 AND 2023, THE FOUNDATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | SPECIAL EVENTS 138,297. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | SPECIAL EVENTS 138,297. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART X, LINE 2: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART XI, LINE 2D - OTHER ADJUSTMENTS: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | PART XII, LINE 2D - OTHER ADJUSTMENTS: |
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| IRS990ScheduleD/TotalLiabilityAmt | 0 | 900 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1746724 |
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| IRS990ScheduleF/ForeignPartnershipInd | 0 | 0 |
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| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt | 1 | EUROPE - UNITED KINGDOM |
| IRS990ScheduleF/InterestInForeignTrustInd | 0 | 0 |
| IRS990ScheduleF/PassiveForeignInvestmestCoInd | 0 | 0 |
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| IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt | 0 | GRANTS ARE SENT TO PARENT ORGANIZATION MAGIC BUS INDIA TO CONDUCT PROGRAM SERVICES FOR UNDER PRIVILEGED KIDS |
| IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART I, LINE 2: |
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| IRS990ScheduleF/TotalOfficeCnt | 0 | 0 |
| IRS990ScheduleF/TotalSpentAmt | 0 | 0 |
| IRS990ScheduleF/TransferToForeignCorpInd | 0 | 0 |
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| IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt | 0 | 242634 |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | A COMPLETE COPY OF THIS FORM 990 WILL BE PROVIDED TO ALL MEMBERS OF ITS GOVERNING BODY BY ELECTRONIC TRANSMISSION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE CONFLICT OF INTEREST POLICY IS BEING FOLLOWED AS PER THE BYLAWS AND ANY POSSIBLE EVENT IS BEING DISCUSSED AMONG MEMBERS OF THE GOVERNING BODY AS PER THE ENTITY'S BYELAWS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI, SECTION B, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION C, LINE 19 |
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| IRS990/SignificantChangeInd | 0 | 0 |
| IRS990/SignificantNewProgramSrvcInd | 0 | 0 |
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| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | 0 |
| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
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| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 5155852 |
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| IRS990/TravelGrp/TotalAmt | 0 | 4311 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
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| IRS990/USAddress/CityNm | 0 | HOUSTON |
| IRS990/USAddress/StateAbbreviationCd | 0 | TX |
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