Civic Intelligence

Magnolia Art Xchange Inc.

990EZ • Fiscal year 2016 • EIN 47-4614706

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 15, 2017

531 NE 1st AveOcala, FL 34470

(352) 622-4220

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2016

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2016

Net Margin

95th percentile

63%

Higher net margin than 95% 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

95th percentile

194%

Faster asset growth than 95% of similar nonprofits.

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

Revenue Growth

92nd percentile

96%

Faster revenue growth than 92% of similar nonprofits.

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

Assets

Up

$10,034

Up $6,626 (+194%) from 2015

Net Assets

Up

$10,034

Up $7,676 (+326%) from 2015

Liabilities

-

No earlier filing loaded for comparison.

Revenue

Up

$12,091

Up $5,909 (+96%) from 2015

Expenses

Up

$4,416

Up $592 (+15%) from 2015

Net Income

Up

$7,675

Up $5,317 (+225%) from 2015

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2015: $3,408Liabilities 2015: $1,050Net Assets 2015: $2,3582015Assets 2016: $10,034Net Assets 2016: $10,0342016Assets 2017: $86,260Net Assets 2017: $86,2602017Assets 2018: $150,870Net Assets 2018: $150,8702018Assets 2019: $193,663Net Assets 2019: $193,6632019Assets 2020: $167,292Liabilities 2020: $02020Assets 2021: $151,886Net Assets 2021: $151,8862021Assets 2022: $115,326Liabilities 2022: $377Net Assets 2022: $114,9492022Assets 2023: $119,720Liabilities 2023: $533Net Assets 2023: $119,1872023Assets 2024: $110,574Liabilities 2024: $115Net Assets 2024: $110,4592024

Highlighted filing

2016

Assets$10,034
Liabilities-
Net Assets$10,034

Operations Trend

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

$100K$50K$0-$50KRevenue 2015: $6,182Expenses 2015: $3,824Net Income 2015: $2,3582015Revenue 2016: $12,091Expenses 2016: $4,416Net Income 2016: $7,6752016Revenue 2017: $79,618Expenses 2017: $3,393Net Income 2017: $76,2252017Revenue 2018: $67,945Expenses 2018: $3,334Net Income 2018: $64,6112018Revenue 2019: $59,967Expenses 2019: $17,174Net Income 2019: $42,7932019Revenue 2020: $4,548Expenses 2020: $30,921Net Income 2020: -$26,3732020Revenue 2021: $25,154Expenses 2021: $40,560Net Income 2021: -$15,4062021Revenue 2022: $11,712Expenses 2022: $48,646Net Income 2022: -$36,9342022Revenue 2023: $35,739Expenses 2023: $31,501Net Income 2023: $4,2382023Revenue 2024: $24,290Expenses 2024: $33,018Net Income 2024: -$8,7282024

Highlighted filing

2016

Revenue$12,091
Expenses$4,416
Net Income$7,675
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 15, 2017
Return Version
2016v3.1
Gross Receipts
$12,091
Mission and Program Overview

Mission

The magnolia art exchange, inc. Will provide opportunities for art appreciation and education by providing working art studios, instructional spaces, and exhibition opportunities for visual artists in a collaborative hub that encourages professional development. Objectives are to contribute to the cultural, educational, and economic vitality of ocala/marion county by: supporting the professional growth and education of artists, enhancing and expanding the cultural campus located within ocala's central business district, providing citizens and visitors with the opportunity to engage artists, learn and view the process for creating fine art, and experience the intersection of art and community, supporting the community's commitment to the arts and supporting the city of ocala's economic goals by drawing visitors and residents to the central business district and to retail and commercial establishments.

Program Services

DescriptionGrantsExpenses
DURING 2016 THE MAGNOLIA ART EXCHANGE, INC'S LARGEST ACCOMPLISHMENT HAS BEEN DEVELOPING IT'S MARKETING PLAN AND PUTTING INFRASTRUCTURE IN PLACE TO REACH IT'S FUTURE FUNDRAISING GOALS AND IMPLEMENT PARTNERSHIPS WITHIN OUR COMMUNITY. THE 2016 EXPENSES HAVE BEEN FOR GENERAL BUSINESS AND ADMINISTRATIVE ITEMS. THERE WERE NO PROGRAM RELATED REVENUE AND/OR EXPENSES.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
MATTHEW FISCHERPresidentPT$0--
MAGGIE WEAKLEYVice PresidePT$0--
REBECCA LYLESTreasurer-$0--
SUSAN CARRSecretary-$0--
MARK ASTROMDirector-$0--
JESSI MILLER CASTRODirectorPT$0--
MELISSA DESKOVICDirector-$0--
PAUL WAREDirector-$0--
Filing and Contact Details

Filer

Filer Name
Magnolia Art Xchange Inc
EIN
47-4614706
Address
531 NE 1ST AVE, OCALA, FL 34470

Signing Officer

Name
Rebecca Lyles
Title
Treasurer
Signed
2017-08-15
Discuss with paid preparer
Yes

Preparer

Firm
Berryhill Hoffman Getsee & Demeola LLC
Address
107 NORTHEAST FIRST AVENUE, OCALA, FL 34470-6655
Preparer
Michael P Demeola CPA
Phone
3526224220
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses bank fees-comm foundation 144 business registration fees 61 flipcause fees 600 supplies 807 website expenses 132 insurance 2,672 total 4,416

Form 990-ez, Part II, Line 26

N/P PATRICK HILL 1,050 0

Form 990-ez, Part III

The magnolia art exchange, inc. Will provide opportunities for art appreciation and education by providing working art studios, instructional spaces, and exhibition opportunities for visual artists in a collaborative hub that encourages professional development. Objectives are to contribute to the cultural, educational, and economic vitality of ocala/marion county by: supporting the professional growth and education of artists, enhancing and expanding the cultural campus located within ocala's central business district, providing citizens and visitors with the opportunity to engage artists, learn and view the process for creating fine art, and experience the intersection of art and community, supporting the community's commitment to the arts and supporting the city of ocala's economic goals by drawing visitors and residents to the central business district and to retail and commercial establishments.

Form 990-ez, Part III, Line 28

During 2016 the magnolia art exchange, inc's largest accomplishment has been developing it's marketing plan and putting infrastructure in place to reach it's future fundraising goals and implement partnerships within our community. The 2016 expenses have been for general business and administrative items. There were no program related revenue and/or expenses.

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IRS990EZ/PrimaryExemptPurposeTxt0THE MAGNOLIA ART EXCHANGE, INC. WILL PROVIDE OPPORTUNITIES FOR ART APPRECIATION AND EDUCATION BY PROVIDING WORKING ART STUDIOS, INSTRUCTIONAL SPACES, AND EXHIBITION OPPORTUNITIES FOR VISUAL ARTISTS IN A COLLABORATIVE HUB THAT ENCOURAGES PROFESSIONAL DEVELOPMENT. OBJECTIVES ARE TO CONTRIBUTE TO THE CULTURAL, EDUCATIONAL, AND ECONOMIC VITALITY OF OCALA/MARION COUNTY BY: SUPPORTING THE PROFESSIONAL GROWTH AND EDUCATION OF ARTISTS, ENHANCING AND EXPANDING THE CULTURAL CAMPUS LOCATED WITHIN OCALA'S CENTRAL BUSINESS DISTRICT, PROVIDING CITIZENS AND VISITORS WITH THE OPPORTUNITY TO ENGAGE ARTISTS, LEARN AND VIEW THE PROCESS FOR CREATING FINE ART, AND EXPERIENCE THE INTERSECTION OF ART AND COMMUNITY, SUPPORTING THE COMMUNITY'S COMMITMENT TO THE ARTS AND SUPPORTING THE CITY OF OCALA'S ECONOMIC GOALS BY DRAWING VISITORS AND RESIDENTS TO THE CENTRAL BUSINESS DISTRICT AND TO RETAIL AND COMMERCIAL ESTABLISHMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES BANK FEES-COMM FOUNDATION 144 BUSINESS REGISTRATION FEES 61 FLIPCAUSE FEES 600 SUPPLIES 807 WEBSITE EXPENSES 132 INSURANCE 2,672 TOTAL 4,416
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1N/P PATRICK HILL 1,050 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MAGNOLIA ART EXCHANGE, INC. WILL PROVIDE OPPORTUNITIES FOR ART APPRECIATION AND EDUCATION BY PROVIDING WORKING ART STUDIOS, INSTRUCTIONAL SPACES, AND EXHIBITION OPPORTUNITIES FOR VISUAL ARTISTS IN A COLLABORATIVE HUB THAT ENCOURAGES PROFESSIONAL DEVELOPMENT. OBJECTIVES ARE TO CONTRIBUTE TO THE CULTURAL, EDUCATIONAL, AND ECONOMIC VITALITY OF OCALA/MARION COUNTY BY: SUPPORTING THE PROFESSIONAL GROWTH AND EDUCATION OF ARTISTS, ENHANCING AND EXPANDING THE CULTURAL CAMPUS LOCATED WITHIN OCALA'S CENTRAL BUSINESS DISTRICT, PROVIDING CITIZENS AND VISITORS WITH THE OPPORTUNITY TO ENGAGE ARTISTS, LEARN AND VIEW THE PROCESS FOR CREATING FINE ART, AND EXPERIENCE THE INTERSECTION OF ART AND COMMUNITY, SUPPORTING THE COMMUNITY'S COMMITMENT TO THE ARTS AND SUPPORTING THE CITY OF OCALA'S ECONOMIC GOALS BY DRAWING VISITORS AND RESIDENTS TO THE CENTRAL BUSINESS DISTRICT AND TO RETAIL AND COMMERCIAL ESTABLISHMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DURING 2016 THE MAGNOLIA ART EXCHANGE, INC'S LARGEST ACCOMPLISHMENT HAS BEEN DEVELOPING IT'S MARKETING PLAN AND PUTTING INFRASTRUCTURE IN PLACE TO REACH IT'S FUTURE FUNDRAISING GOALS AND IMPLEMENT PARTNERSHIPS WITHIN OUR COMMUNITY. THE 2016 EXPENSES HAVE BEEN FOR GENERAL BUSINESS AND ADMINISTRATIVE ITEMS. THERE WERE NO PROGRAM RELATED REVENUE AND/OR EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III, LINE 28
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ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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