Civic Intelligence

Magnolia Art Xchange Inc.

990EZ • Fiscal year 2017 • EIN 47-4614706

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

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 2017

Liabilities / Revenue

Score unavailable

No value available

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

Source year 2017

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

98th percentile

760%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

99th percentile

558%

Faster revenue growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$86,260

Up $76,226 (+760%) from 2016

Net Assets

Up

$86,260

Up $76,226 (+760%) from 2016

Liabilities

-

No earlier filing loaded for comparison.

Revenue

Up

$79,618

Up $67,527 (+558%) from 2016

Expenses

Down

$3,393

Down $1,023 (-23%) from 2016

Net Income

Up

$76,225

Up $68,550 (+893%) from 2016

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

2017

Assets$86,260
Liabilities-
Net Assets$86,260

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

2017

Revenue$79,618
Expenses$3,393
Net Income$76,225
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$79,618
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 FISCHERPresident-$0--
MAGGIE WEAKLEYVice Preside-$0--
REBECCA LYLESTreasurer-$0--
SUSAN CARRSecretary-$0--
MARK ASTROMDirector-$0--
JESSI MILLER CASTRODirector-$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
2018-11-14
Discuss with paid preparer
Yes

Preparer

Firm
H2 Advisors
Address
101 NE 1ST AVE, OCALA, FL 34470-6655
Preparer
David M Hoffman CPA
Phone
3522293518
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses bank fees-comm foundation 36 business registration fees 61 flipcause fees 450 insurance 2,846 total 3,393

Form 990-ez, Part II, Line 26

N/P PATRICK HILL 0 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 36 BUSINESS REGISTRATION FEES 61 FLIPCAUSE FEES 450 INSURANCE 2,846 TOTAL 3,393
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1N/P PATRICK HILL 0 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.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III, LINE 28
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