Civic Intelligence

Magfest Inc.

990 • Fiscal year 2015 • EIN 46-1086258

Mar 01, 2014 to Feb 28, 2015 • Filed on Oct 15, 2015

Organization ProfileWWW.MAGFEST.ORG
3 Daylily LaneWashington Grove, MD 20880

(410) 371-0098

Siviq Scores

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

Liabilities / Assets

69th percentile

0.31x

Higher debt load relative to assets than 69% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

61st percentile

0.19x

Higher debt load relative to revenue than 61% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

84th percentile

27%

Higher net margin than 84% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

46th percentile

$55,440

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets69th percentile

Assets

$689,038

No earlier filing loaded for comparison.

Net Assets

$478,690

No earlier filing loaded for comparison.

Liabilities

$210,348

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin84th percentile

Revenue

$1,088,861

No earlier filing loaded for comparison.

Expenses

$793,038

No earlier filing loaded for comparison.

Net Income

$295,823

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0Assets 2015: $689,038Liabilities 2015: $210,348Net Assets 2015: $478,6902015Assets 2016: $830,065Liabilities 2016: $8,768Net Assets 2016: $821,2972016Assets 2017: $661,616Liabilities 2017: $7,228Net Assets 2017: $654,3882017Assets 2018: $746,025Liabilities 2018: $35,016Net Assets 2018: $711,0092018Assets 2019: $703,021Liabilities 2019: $2,214Net Assets 2019: $700,8072019Assets 2020: $875,935Liabilities 2020: $7,874Net Assets 2020: $868,0612020Assets 2021: $371,159Liabilities 2021: $5,784Net Assets 2021: $365,3752021Assets 2022: $1,861,525Liabilities 2022: $655Net Assets 2022: $1,860,8702022Assets 2024: $2,999,487Liabilities 2024: $1,350Net Assets 2024: $2,998,1372024

Highlighted filing

2015

Assets$689,038
Liabilities$210,348
Net Assets$478,690
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $1,088,861Expenses 2015: $793,038Net Income 2015: $295,8232015Revenue 2016: $1,364,312Expenses 2016: $1,022,474Net Income 2016: $341,8382016Revenue 2017: $1,424,210Expenses 2017: $1,564,508Net Income 2017: -$140,2982017Revenue 2018: $1,799,350Expenses 2018: $1,742,729Net Income 2018: $56,6212018Revenue 2019: $1,695,070Expenses 2019: $1,736,868Net Income 2019: -$41,7982019Revenue 2020: $2,287,029Expenses 2020: $2,119,775Net Income 2020: $167,2542020Revenue 2021: $393,233Expenses 2021: $895,919Net Income 2021: -$502,6862021Revenue 2022: $133,153Expenses 2022: $347,684Net Income 2022: -$214,5312022Revenue 2024: $3,068,619Expenses 2024: $2,601,648Net Income 2024: $466,9712024

Highlighted filing

2015

Revenue$1,088,861
Expenses$793,038
Net Income$295,823
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Mar 1, 2014 to Feb 28, 2015
Signed
Oct 15, 2015
Return Version
2014v5.0
Gross Receipts
$1,088,861
Mission and Program Overview

Mission

To educate the public about video game music, art, and history;To promote public appreciation of video game music, art, and histor TO UNDERTAKE OTHER CHARTABLE PROJECTS,PROGRAMS AND ACTIVITIES NOT INCONSISTENT WITH SECTION 501(C)(3) OF THE IRSCODE AND APPLICALBLE STATE LAW.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$165,768$559,015▲ $393,247
Rtn Earn Endowment Incm Other Fnds$183,578$478,690▲ $295,112
Accounts Receivable$21,778$80,304▲ $58,526
Land, Buildings, and Equipment, Net$16,035$18,344▲ $2,309
Total Assets$203,956$689,038▲ $485,082
Other Assets Total$375$31,375▲ $31,000
Liabilities
Accounts Payable and Accrued Expenses$20,378$210,348▲ $189,970
Total Liabilities$20,378$210,348▲ $189,970
Net Assets / Fund Balance
Total Net Assets Fund Balance$183,578$478,690▲ $295,112
Total Liabilities and Net Assets / Fund Balance$203,956$689,038▲ $485,082

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,383$2,662-
Leasehold Improvements$11,961$1,840-
Other Assets Org$6,375--
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Dominic CerquettiExecutive DirectorFT$55,440$55,440
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,088,701
Investment Income
$160
Other Revenue
$0
Change in Net Assets
$295,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$677,975
Salaries, Compensation, and Employee Benefits$115,063
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$448,844--$448,844
Other Salaries and Wages-$107,169-$107,169
Fees for Services Other$83,132--$83,132
Other Expenses$48,644$407-$48,644
Travel$31,798$1,048-$32,846
Information Technology$5,198$7,347-$12,545
Office Expenses$11,230$154-$11,384
Insurance$9,721--$9,721
All Other Expenses-$8,650-$8,650
Payroll Taxes-$7,894-$7,894
Fees for Services Legal-$5,000-$5,000
Fees for Services Accounting-$4,606-$4,606
Advertising$3,633--$3,633
Interest$7--$7
Total Functional Expenses$649,620$143,418$0$793,038
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
Backup withholding compliance
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 governing body review Part VI line 11

“The executive director/president will appove the 990 prepared by an outside accounting firm prior filling with the irs.”

Conflict of interest policy compliance Part VI line 12C

“The organization has a conflict of interest policy covering director, officer or individual in a position to influence a vote magfest policies or expenditures.”

Governing documents etc available to public Part VI line 19

“The organization will make available upon request its financial documents and confict of interest policy as requested within a reasonable period as determined by the board of directors.”

Filing and Contact Details

Filer

Filer Name
Magfest Inc
EIN
46-1086258
Address
3 Daylily Lane, Washington Grove, MD 20880

Signing Officer

Name
Dominic Cerquetti
Title
President
Phone
4103710098
Signed
2015-10-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Dominic Cerquetti
Formed
2012
Legal Domicile
Md
Voting Board Members
4
Independent Board Members
3
Employees
4
Volunteers
450

Preparer

Firm
Tony M Di Fatta CPA
Address
22 CASTLEBAR CT, Lutherville Timonium, MD 21093
Preparer
Tony M Di Fatta
Phone
4437915726
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“We are providing a level of detail above irs requirements”

Raw XML Appendix326 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY COVERING DIRECTOR, OFFICER OR INDIVIDUAL IN A POSITION TO INFLUENCE A VOTE MAGFEST POLICIES OR EXPENDITURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION WILL MAKE AVAILABLE UPON REQUEST ITS FINANCIAL DOCUMENTS AND CONFICT OF INTEREST POLICY AS REQUESTED WITHIN A REASONABLE PERIOD AS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WE ARE PROVIDING A LEVEL OF DETAIL ABOVE IRS REQUIREMENTS
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0203956
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0689038
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt01048
IRS990/TravelGrp/ProgramServicesAmt031798
IRS990/TravelGrp/TotalAmt032846
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03016 CRESMONT AVE
IRS990/USAddress/CityNm0Baltimore
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021211
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.MAGFEST.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0DOMINIC CERQUETTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04103710098
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGFEST INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGF
ReturnHeader/Filer/EIN0461086258
ReturnHeader/Filer/USAddress/AddressLine1Txt03 Daylily Lane
ReturnHeader/Filer/USAddress/CityNm0Washington Grove
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020880
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461784881
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TONY M DI FATTA CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt022 CASTLEBAR CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lutherville Timonium
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021093
ReturnHeader/PreparerPersonGrp/PhoneNum04437915726
ReturnHeader/PreparerPersonGrp/PreparationDt02015-10-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TONY M DI FATTA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-10-15T13:36:28-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-03-01
ReturnHeader/TaxPeriodEndDt02015-02-28
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$689,038
Liabilities
$210,348
Net assets
$478,690
Revenue
$1,088,861
Expenses
$793,038
Net income
$295,823
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.00$0.00$3.00$3.07$2.60$0.47
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.86$0.00$1.86$0.13$0.35$0.21
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.37$0.01$0.37$0.39$0.90$0.50
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.01$0.87$2.29$2.12$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.70$0.00$0.70$1.70$1.74$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.75$0.04$0.71$1.80$1.74$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.01$0.65$1.42$1.56$0.14
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.01$0.82$1.36$1.02$0.34
2015Detailed filing. Detailed filing data is available for this year.$0.69$0.21$0.48$1.09$0.79$0.30
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $1M-$5M nonprofits