Civic Intelligence

Magh Properties Incorporated

990 • Fiscal year 2023 • EIN 56-1702808

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 26, 2024

Organization ProfileN/A
2211-a Executive StreetCharlotte, NC 28208

(704) 392-9220

Siviq Scores

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

Liabilities / Assets

91st percentile

1.21x

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

2023 filings • 501(c)2 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

36455.77x

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

2023 filings • 501(c)2 • <$500k nonprofits • Source year 2023

Net Margin

1st percentile

-105754%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)2 • <$500k nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

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

2023 filings • 501(c)2 • <$500k nonprofits • Source year 2023

Asset Growth

44th percentile

-3.1%

Faster asset growth than 44% of similar nonprofits.

2023 filings • 501(c)2 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

100th percentile

1200%

Faster revenue growth than 100% of similar nonprofits.

2023 filings • 501(c)2 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$391,943

Down $12,445 (-3.1%) from 2022

Net Assets

Down

-$81,982

Down $13,748 (-20%) from 2022

Liabilities

Up

$473,925

Up $1,303 (+0.3%) from 2022

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$13

Up $12 (+1200%) from 2022

Expenses

Up

$13,761

Up $456 (+3.4%) from 2022

Net Income

Down

-$13,748

Down $444 (-3.3%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$1.0M$500K$0-$500KAssets 2011: $749,467Liabilities 2011: $767,983Net Assets 2011: -$18,5162011Assets 2012: $738,526Liabilities 2012: $781,380Net Assets 2012: -$42,8542012Assets 2013: $541,494Liabilities 2013: $509,712Net Assets 2013: $31,7822013Assets 2014: $506,669Liabilities 2014: $473,178Net Assets 2014: $33,4912014Assets 2015: $493,711Liabilities 2015: $468,182Net Assets 2015: $25,5292015Assets 2016: $482,167Liabilities 2016: $469,799Net Assets 2016: $12,3682016Assets 2017: $467,456Liabilities 2017: $468,591Net Assets 2017: -$1,1352017Assets 2018: $454,155Liabilities 2018: $468,795Net Assets 2018: -$14,6402018Assets 2019: $440,856Liabilities 2019: $469,003Net Assets 2019: -$28,1472019Assets 2020: $428,529Liabilities 2020: $470,156Net Assets 2020: -$41,6272020Assets 2021: $416,435Liabilities 2021: $471,365Net Assets 2021: -$54,9302021Assets 2022: $404,388Liabilities 2022: $472,622Net Assets 2022: -$68,2342022Assets 2023: $391,943Liabilities 2023: $473,925Net Assets 2023: -$81,9822023Assets 2024: $384,222Liabilities 2024: $479,960Net Assets 2024: -$95,7382024Assets 2025: $371,252Liabilities 2025: $471,062Net Assets 2025: -$99,8102025

Highlighted filing

2023

Assets$391,943
Liabilities$473,925
Net Assets-$81,982
Open 2023 Filing

Operations Trend

Revenue Growth100th percentile

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

$150K$100K$50K$0-$50K-$100KRevenue 2011: -$19,402Expenses 2011: $38,541Net Income 2011: -$57,9432011Revenue 2012: $15,594Expenses 2012: $39,932Net Income 2012: -$24,3382012Revenue 2013: $118,953Expenses 2013: $44,317Net Income 2013: $74,6362013Revenue 2014: $15,626Expenses 2014: $13,917Net Income 2014: $1,7092014Revenue 2015: $5,205Expenses 2015: $13,167Net Income 2015: -$7,9622015Revenue 2016: $7Expenses 2016: $13,168Net Income 2016: -$13,1612016Revenue 2017: $7Expenses 2017: $13,510Net Income 2017: -$13,5032017Revenue 2018: $4Expenses 2018: $13,509Net Income 2018: -$13,5052018Revenue 2019: $5Expenses 2019: $13,512Net Income 2019: -$13,5072019Revenue 2020: $4Expenses 2020: $13,484Net Income 2020: -$13,4802020Revenue 2021: $1Expenses 2021: $13,304Net Income 2021: -$13,3032021Revenue 2022: $1Expenses 2022: $13,305Net Income 2022: -$13,3042022Revenue 2023: $13Expenses 2023: $13,761Net Income 2023: -$13,7482023Revenue 2024: $120Expenses 2024: $13,876Net Income 2024: -$13,7562024Revenue 2025: $10,475Expenses 2025: $14,547Net Income 2025: -$4,0722025

Highlighted filing

2023

Revenue$13
Expenses$13,761
Net Income-$13,748
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 26, 2024
Return Version
2022v5.0
Gross Receipts
$13
Mission and Program Overview

Mission

Corporation organized for the exclusive purpose of holding title to property used by 501(c)(3).

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$391,183$377,530▼ $13,653
Savings and Temporary Cash Investments$13,205$14,413▲ $1,208
Total Assets$404,388$391,943▼ $12,445
Liabilities
Other Liabilities$400,228$400,228→ $0
Accounts Payable and Accrued Expenses$72,394$73,697▲ $1,303
Total Liabilities$472,622$473,925▲ $1,303
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-68,234$-81,982▼ $13,748
Total Net Assets Fund Balance$-68,234$-81,982▼ $13,748
Total Liabilities and Net Assets / Fund Balance$404,388$391,943▼ $12,445

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$337,530$176,042$513,572
Land$40,000-$40,000
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Kevin M RosePresident
Anthony Scotto Di CarloDirector
Coreen MarksDirector
Lisa BassDirector
Prince JohnsonExecutive Di
Donald Lee Tate JrSecretary
Jeff ZusiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$-13,748
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,761
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
Depreciation Depletion---$13,653
Other Expenses---$108
Total Functional Expenses$0$0$0$13,761
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Roway Way Loan$400,228
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 will be provided to the board prior to filing.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Magh Properties Inc
EIN
56-1702808
Phone
7043929220
Address
2211-A EXECUTIVE STREET, CHARLOTTE, NC 28208

Signing Officer

Name
Jeff Zusi
Title
Treasurer
Phone
7043929220
Signed
2024-01-26

Organization Details

Principal Officer
Kevin M Rose
Formed
1991
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
6

Preparer

Firm
J Ronald Martin Pa
Address
1850 E 3RD ST STE 305, CHARLOTTE, NC 28204-3234
Preparer
Julia Cook
Phone
7043756405
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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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$391,943
Liabilities
$473,925
Net assets
-$81,982
Revenue
$13
Expenses
$13,761
Net income
-$13,748
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.71$4.71$1.00$0.10$0.15$0.04
2024Detailed filing. Detailed filing data is available for this year.$3.84$4.80$0.96$0.00$0.14$0.14
2023Detailed filing. Detailed filing data is available for this year.$3.92$4.74$0.82$0.00$0.14$0.14
2022Detailed filing. Detailed filing data is available for this year.$4.04$4.73$0.68$0.00$0.13$0.13
2021Detailed filing. Detailed filing data is available for this year.$4.16$4.71$0.55$0.00$0.13$0.13
2020Detailed filing. Detailed filing data is available for this year.$4.29$4.70$0.42$0.00$0.13$0.13
2019Detailed filing. Detailed filing data is available for this year.$4.41$4.69$0.28$0.00$0.14$0.14
2018Detailed filing. Detailed filing data is available for this year.$4.54$4.69$0.15$0.00$0.14$0.14
2017Summary only. Only limited summary data is available for this year.$4.67$4.69$0.01$0.00$0.14$0.14
2016Summary only. Only limited summary data is available for this year.$4.82$4.70$0.12$0.00$0.13$0.13
2015Summary only. Only limited summary data is available for this year.$4.94$4.68$0.26$0.05$0.13$0.08
2014Summary only. Only limited summary data is available for this year.$5.07$4.73$0.33$0.16$0.14$0.02
2013Summary only. Only limited summary data is available for this year.$5.41$5.10$0.32$1.19$0.44$0.75
2012Summary only. Only limited summary data is available for this year.$7.39$7.81$0.43$0.16$0.40$0.24
2011Summary only. Only limited summary data is available for this year.$7.49$7.68$0.19$0.19$0.39$0.58