Civic Intelligence

Magic Minds Inc.

990 • Fiscal year 2023 • EIN 47-2164263

Jan 01, 2023 to Dec 31, 2023 • Filed on May 09, 2024

Organization Profilewww.m2inc.info

View Organization Page

7739 Mayfield AvenueElkridge, MD 21075

(443) 802-0576

Siviq Scores

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

Liabilities / Assets

100th percentile

8.68x

Higher debt load relative to assets than 100% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

0.15x

Higher debt load relative to revenue than 73% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

42nd percentile

0.7%

Higher net margin than 42% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$121,342

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 17.3% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

2nd percentile

-64%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

60th percentile

15%

Faster revenue growth than 60% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$11,902

Down $50,372 (-81%) from 2021

Net Assets

Up

-$91,358

Up $54,944 (+38%) from 2021

Liabilities

Down

$103,260

Down $105,316 (-50%) from 2021

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin42nd percentile

Revenue

Up

$702,865

Up $366,056 (+109%) from 2021

Expenses

Up

$697,622

Up $221,389 (+46%) from 2021

Net Income

Up

$5,243

Up $144,667 (+104%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2015: $9,281Liabilities 2015: $3,115Net Assets 2015: $6,1662015Assets 2016: $21,918Liabilities 2016: $0Net Assets 2016: $21,9182016Assets 2017: $11,450Liabilities 2017: $0Net Assets 2017: $11,4502017Assets 2018: $33,476Liabilities 2018: $20,300Net Assets 2018: $13,1762018Assets 2019: $39,922Liabilities 2019: $67,500Net Assets 2019: -$27,5782019Assets 2020: $40,834Liabilities 2020: $47,712Net Assets 2020: -$6,8782020Assets 2021: $62,274Liabilities 2021: $208,576Net Assets 2021: -$146,3022021Assets 2023: $11,902Liabilities 2023: $103,260Net Assets 2023: -$91,3582023

Highlighted filing

2023

Assets$11,902
Liabilities$103,260
Net Assets-$91,358
Open 2023 Filing

Operations Trend

Revenue Growth60th percentile

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

$1.0M$500K$0-$500KRevenue 2015: $236,852Expenses 2015: $230,686Net Income 2015: $6,1662015Revenue 2016: $506,761Expenses 2016: $491,111Net Income 2016: $15,6502016Revenue 2017: $590,178Expenses 2017: $600,646Net Income 2017: -$10,4682017Revenue 2018: $709,260Expenses 2018: $706,634Net Income 2018: $2,6262018Revenue 2019: $860,848Expenses 2019: $901,602Net Income 2019: -$40,7542019Revenue 2020: $275,034Expenses 2020: $254,334Net Income 2020: $20,7002020Revenue 2021: $336,809Expenses 2021: $476,233Net Income 2021: -$139,4242021Revenue 2023: $702,865Expenses 2023: $697,622Net Income 2023: $5,2432023

Highlighted filing

2023

Revenue$702,865
Expenses$697,622
Net Income$5,243
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 9, 2024
Return Version
2023v5.0
Gross Receipts
$702,865
Mission and Program Overview

Mission

To provide a daily summer and after care experience that merges academic enrichment, enhanced social skills, and unforgettable enjoyment

To provide a daily summer and after care experience that merges academic enrichment, enhanced social skills and unforgettable enjoyment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$32,960$11,902▼ $21,058
Total Assets$32,960$11,902▼ $21,058
Liabilities
Other Liabilities$193,039$0▼ $193,039
Unsecured Notes Loans Payable-$103,260-
Total Liabilities$193,039$103,260▼ $89,779
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-160,079$-91,358▲ $68,721
Total Net Assets Fund Balance$-160,079$-91,358▲ $68,721
Total Liabilities and Net Assets / Fund Balance$32,960$11,902▼ $21,058
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Crystal RhodesCo FounderFT$121,342$121,342
Michael Miller JrCofounderFT$121,342$121,342

Board Members and Trustees

NameTitle
Aaron CuthrellCofounder Emeritus
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$702,863
Investment Income
$2
Other Revenue
$0
Change in Net Assets
$5,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$433,644
Other Expenses$263,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$242,684$0$0$242,684
Other Salaries and Wages$103,108$0$0$103,108
Payroll Taxes$87,852$0$0$87,852
All Other Expenses$49,029$15,472$0$64,501
Insurance$0$56,174$0$56,174
Fees for Services Other$0$54,624$0$54,624
Information Technology$17,014$172$0$17,186
Occupancy$16,673$0$0$16,673
Advertising$16,320$0$0$16,320
Travel$5,706$1,664$0$7,370
Other Expenses$0$4,862$0$4,862
Fees for Services Accounting$0$3,505$0$3,505
Office Expenses$0$1,027$0$1,027
Total Functional Expenses$550,347$147,275$0$697,622
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
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
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 8B

“The governing body does not have separate committees that meet independently”

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

“Copies were provided electronically for review prior to submission”

Form 990, Part VI, Section C, Line 19

“Any and all public documents are available for review and examination upon request to the organization”

Filing and Contact Details

Filer

Filer Name
Magic Minds Inc
EIN
47-2164263
Phone
4438020576
Address
7739 MAYFIELD AVENUE, ELKRIDGE, MD 21075

Signing Officer

Name
Michael Miller
Title
Cofounder
Phone
4438297037
Signed
2024-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Miller
Formed
2014
Legal Domicile
Md
Voting Board Members
3
Independent Board Members
3
Employees
67
Volunteers
0

Preparer

Firm
Gifted by Grace Financial Services LLC
Address
P O Box 41367, Baltimore, MD 21203
Preparer
Tamra Perkins
Phone
4435747738
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“These expenses include educational contractors and professional services such as electricians and other technical workers”

Form 990, Part XI, Line 9

“Additional financing received to maintain operations”

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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/ExplanationTxt0THE GOVERNING BODY DOES NOT HAVE SEPARATE COMMITTEES THAT MEET INDEPENDENTLY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY AND ALL PUBLIC DOCUMENTS ARE AVAILABLE FOR REVIEW AND EXAMINATION UPON REQUEST TO THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE EXPENSES INCLUDE EDUCATIONAL CONTRACTORS AND PROFESSIONAL SERVICES SUCH AS ELECTRICIANS AND OTHER TECHNICAL WORKERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ADDITIONAL FINANCING RECEIVED TO MAINTAIN OPERATIONS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt032960
IRS990/TotalAssetsEOYAmt011902
IRS990/TotalAssetsGrp/BOYAmt032960
IRS990/TotalAssetsGrp/EOYAmt011902
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt067
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0147275
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0550347
IRS990/TotalFunctionalExpensesGrp/TotalAmt0697622
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0193039
IRS990/TotalLiabilitiesEOYAmt0103260
IRS990/TotalLiabilitiesGrp/BOYAmt0193039
IRS990/TotalLiabilitiesGrp/EOYAmt0103260
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-160079
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-91358
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0550347
IRS990/TotalProgramServiceRevenueAmt0702863
IRS990/TotalReportableCompFromOrgAmt0242684
IRS990/TotalRevenueGrp/ExclusionAmt02
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0702863
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0702865
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt032960
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011902
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt01664
IRS990/TravelGrp/ProgramServicesAmt05706
IRS990/TravelGrp/TotalAmt07370
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0103260
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04713 NEW TOWN BLVD
IRS990/USAddress/CityNm0OWINGS MILLS
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd0211174504
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.m2inc.info
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/LastSubmissionRqrOOBCd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL MILLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COFOUNDER
ReturnHeader/BusinessOfficerGrp/PhoneNum04438297037
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGIC MINDS INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGI
ReturnHeader/Filer/EIN0472164263
ReturnHeader/Filer/PhoneNum04438020576
ReturnHeader/Filer/USAddress/AddressLine1Txt07739 MAYFIELD AVENUE
ReturnHeader/Filer/USAddress/CityNm0ELKRIDGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021075
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0453023407
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Gifted by Grace Financial Services LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O Box 41367
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Baltimore
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021203
ReturnHeader/PreparerPersonGrp/PhoneNum04435747738
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Tamra Perkins
ReturnHeader/ReturnTs02024-05-14T21:25:40-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MILLER
ReturnHeader/TaxPeriodBeginDt02023-01-01

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,902
Liabilities
$103,260
Net assets
-$91,358
Revenue
$702,865
Expenses
$697,622
Net income
$5,243
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.12$1.03$0.91$7.03$6.98$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$2.09$1.46$3.37$4.76$1.39
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.48$0.07$2.75$2.54$0.21
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.68$0.28$8.61$9.02$0.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.20$0.13$7.09$7.07$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.00$0.11$5.90$6.01$0.10
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.22$0.00$0.22$5.07$4.91$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.03$0.06$2.37$2.31$0.06