Civic Intelligence

Magnolia Properties Management Inc.

990 • Fiscal year 2016 • EIN 45-4683724

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 20, 2017

Organization ProfileN/A
250 E 1st St No 1500Los Angeles, CA 90012

(714) 892-5066

Siviq Scores

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

Liabilities / Assets

91st percentile

0.97x

Higher debt load relative to assets than 91% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

14.29x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

7th percentile

-45%

Higher net margin than 7% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

74th percentile

$191,188

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 42.7% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

55th percentile

2.8%

Faster asset growth than 55% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

41st percentile

-0.0%

Faster revenue growth than 41% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$6,563,717

Up $176,559 (+2.8%) from 2015

Net Assets

Down

$167,154

Down $200,004 (-54%) from 2015

Liabilities

Up

$6,396,563

Up $376,563 (+6.3%) from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin7th percentile

Revenue

Down

$447,511

Down $8 (-0.0%) from 2015

Expenses

Up

$647,515

Up $567,154 (+706%) from 2015

Net Income

Down

-$200,004

Down $567,162 (-154%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$150M$100M$50M$0Assets 2013: $1Liabilities 2013: $0Net Assets 2013: $02013Assets 2015: $6,387,158Liabilities 2015: $6,020,000Net Assets 2015: $367,1582015Assets 2016: $6,563,717Liabilities 2016: $6,396,563Net Assets 2016: $167,1542016Assets 2017: $6,477,365Liabilities 2017: $6,316,563Net Assets 2017: $160,8022017Assets 2018: $33,428,501Liabilities 2018: $33,075,659Net Assets 2018: $352,8422018Assets 2019: $34,417,249Liabilities 2019: $32,985,659Net Assets 2019: $1,431,5902019Assets 2020: $31,828,201Liabilities 2020: $29,549,320Net Assets 2020: $2,278,8812020Assets 2021: $31,258,494Liabilities 2021: $28,933,131Net Assets 2021: $2,325,3632021Assets 2022: $30,634,440Liabilities 2022: $28,287,064Net Assets 2022: $2,347,3762022Assets 2023: $109,166,001Liabilities 2023: $55,573,919Net Assets 2023: $53,592,0822023Assets 2024: $107,034,266Liabilities 2024: $52,404,012Net Assets 2024: $54,630,2542024

Highlighted filing

2016

Assets$6,563,717
Liabilities$6,396,563
Net Assets$167,154
Open 2016 Filing

Operations Trend

Revenue Growth41st percentile

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

$60M$40M$20M$0-$20MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2015: $447,519Expenses 2015: $80,361Net Income 2015: $367,1582015Revenue 2016: $447,511Expenses 2016: $647,515Net Income 2016: -$200,0042016Revenue 2017: $446,911Expenses 2017: $453,263Net Income 2017: -$6,3522017Revenue 2018: $947,294Expenses 2018: $1,190,922Net Income 2018: -$243,6282018Revenue 2019: $2,966,696Expenses 2019: $1,887,948Net Income 2019: $1,078,7482019Revenue 2020: $2,530,294Expenses 2020: $1,909,257Net Income 2020: $621,0372020Revenue 2021: $2,387,678Expenses 2021: $2,417,478Net Income 2021: -$29,8002021Revenue 2022: $2,307,270Expenses 2022: $2,486,971Net Income 2022: -$179,7012022Revenue 2023: $53,423,196Expenses 2023: $2,398,257Net Income 2023: $51,024,9392023Revenue 2024: $1,504,503Expenses 2024: $2,715,704Net Income 2024: -$1,211,2012024

Highlighted filing

2016

Revenue$447,511
Expenses$647,515
Net Income-$200,004
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 20, 2017
Return Version
2015v3.0
Gross Receipts
$447,511
Mission and Program Overview

Mission

To provide educational facilities for the magnolia public schools

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,440,457$4,360,096▼ $80,361
Savings and Temporary Cash Investments$1,819,852$1,832,025▲ $12,173
Total Assets$6,387,158$6,563,717▲ $176,559
Other Assets Total$126,849$371,596▲ $244,747
Liabilities
Tax Exempt Bond Liabilities$6,020,000$5,950,000▼ $70,000
Deferred Revenue-$446,563-
Total Liabilities$6,020,000$6,396,563▲ $376,563
Net Assets / Fund Balance
Unrestricted Net Assets$367,158$167,154▼ $200,004
Total Net Assets Fund Balance$367,158$167,154▼ $200,004
Total Liabilities and Net Assets / Fund Balance$6,387,158$6,563,717▲ $176,559

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,360,096$160,722$4,520,818
Other Assets Org$371,596--
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleOtherTotal
Oswaldo DiazCFO$134,960$134,960

Board Members and Trustees

NameTitle
Caprice YoungCEO
John HelgesonMember
Johnathan WilliamsMember
Serdar OrazovMember
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$447,511
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-200,004
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$647,515
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
Interest-$554,340-$554,340
Depreciation Depletion-$80,361-$80,361
Other Expenses-$12,814-$12,814
Total Functional Expenses$0$647,515$0$647,515
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMagnolia Properties Management Inc2014-07-01$6,020,000Purchase and maintenance of educational facilities

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$6,466,563-$70,000$458,443

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The return is provided to the board members prior to filing”

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

“All board members, executive staff and principals are required to submit reports that document any possible conflicts of interest using the form 700 as required by our oversight agency.”

Form 990, Part VI, Section C, Line 18

“All tax returns are maintained at the corporate office and are available upon request.”

Form 990, Part VI, Section C, Line 19

“All governing documents are maintained at the corporate office and are available upon request.”

Filing and Contact Details

Filer

Filer Name
Magnolia Properties Management Inc
EIN
45-4683724
Phone
7148925066
Address
250 E 1ST ST NO 1500, LOS ANGELES, CA 90012

Signing Officer

Name
Namie Montijo
Title
CFO
Phone
7148925066
Signed
2017-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Namie Montijo
Formed
2012
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Vavrinektrineday & Co Llp
Address
10681 FOOTHILL BLVD SUITE 300, RANCHO CUCAMONGA, CA 91730
Preparer
Matthew S Miller
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Merf has adopted financial accounting standards board (fasb) accounting standards codification (asc) topic 740 that clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return and provides that the tax effects from an uncertain tax position can be recognized in the consolidated financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Merf management has determined that all income tax positions are more likely thannot of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required.”

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IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0458443
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RetiredAmt070000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt06466563
IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt01093648
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RETURN IS PROVIDED TO THE BOARD MEMBERS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS, EXECUTIVE STAFF AND PRINCIPALS ARE REQUIRED TO SUBMIT REPORTS THAT DOCUMENT ANY POSSIBLE CONFLICTS OF INTEREST USING THE FORM 700 AS REQUIRED BY OUR OVERSIGHT AGENCY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL TAX RETURNS ARE MAINTAINED AT THE CORPORATE OFFICE AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS ARE MAINTAINED AT THE CORPORATE OFFICE AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0954649884
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PUBLIC CHARTER SCHOOLS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt013950 MILTON AVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WESTMINSTER
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL AMOUNT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MAGNOLIA EDUCATIONAL AND RESEARCH FOUNDATION
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt05950000
IRS990/TaxExemptBondsInd01
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt06387158
IRS990/TotalAssetsGrp/EOYAmt06563717
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IRS990/TotalEmployeeCnt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0LOS ANGELES
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090012
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NAMIE MONTIJO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum07148925066
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNOLIA PROPERTIES MANAGEMENT INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
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ReturnHeader/Filer/PhoneNum07148925066
ReturnHeader/Filer/USAddress/AddressLine1Txt0250 E 1ST ST NO 1500
ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090012
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VAVRINEKTRINEDAY & CO LLP

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,563,717
Liabilities
$6,396,563
Net assets
$167,154
Revenue
$447,511
Expenses
$647,515
Net income
-$200,004
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$107$52.4$54.6$1.50$2.72$1.21
2023Detailed filing. Detailed filing data is available for this year.$109$55.6$53.6$53.4$2.40$51.0
2022Detailed filing. Detailed filing data is available for this year.$30.6$28.3$2.35$2.31$2.49$0.18
2021Detailed filing. Detailed filing data is available for this year.$31.3$28.9$2.33$2.39$2.42$0.03
2020Detailed filing. Detailed filing data is available for this year.$31.8$29.5$2.28$2.53$1.91$0.62
2019Detailed filing. Detailed filing data is available for this year.$34.4$33.0$1.43$2.97$1.89$1.08
2018Detailed filing. Detailed filing data is available for this year.$33.4$33.1$0.35$0.95$1.19$0.24
2017Detailed filing. Detailed filing data is available for this year.$6.48$6.32$0.16$0.45$0.45$0.01
2016Detailed filing. Detailed filing data is available for this year.$6.56$6.40$0.17$0.45$0.65$0.20
2015Detailed filing. Detailed filing data is available for this year.$6.39$6.02$0.37$0.45$0.08$0.37
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00