Civic Intelligence

Magnet Educational Choice Association Inc.

990 • Fiscal year 2019 • EIN 65-0290712

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 08, 2020

1450 NE 2nd Avenue Ste 352 No 352Miami, FL 33132

(305) 995-1000

Siviq Scores

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

Liabilities / Assets

60th percentile

0.07x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.05x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

33rd percentile

-2.4%

Higher net margin than 33% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$14,088

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

38th percentile

-0.5%

Faster asset growth than 38% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

7.1%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$358,100

Down $1,774 (-0.5%) from 2018

Net Assets

Down

$332,041

Down $17,797 (-5.1%) from 2018

Liabilities

Up

$26,059

Up $16,023 (+160%) from 2018

Revenue

Up

$524,808

Up $34,586 (+7.1%) from 2018

Expenses

Down

$537,141

Down $130,187 (-20%) from 2018

Net Income

Up

-$12,333

Up $164,773 (+93%) from 2018

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $479,718Liabilities 2011: $5,094Net Assets 2011: $474,6242011Assets 2012: $362,389Liabilities 2012: $2,285Net Assets 2012: $360,1042012Assets 2013: $236,363Liabilities 2013: $1,576Net Assets 2013: $234,7872013Assets 2014: $231,143Liabilities 2014: $1,074Net Assets 2014: $230,0692014Assets 2015: $315,403Liabilities 2015: $788Net Assets 2015: $314,6152015Assets 2016: $608,345Liabilities 2016: $0Net Assets 2016: $608,3452016Assets 2017: $529,274Liabilities 2017: $2,271Net Assets 2017: $527,0032017Assets 2018: $359,874Liabilities 2018: $10,036Net Assets 2018: $349,8382018Assets 2019: $358,100Liabilities 2019: $26,059Net Assets 2019: $332,0412019Assets 2020: $381,541Liabilities 2020: $36,266Net Assets 2020: $345,2752020Assets 2021: $359,682Liabilities 2021: $8,592Net Assets 2021: $351,0902021Assets 2022: $368,718Liabilities 2022: $20,496Net Assets 2022: $348,2222022Assets 2023: $294,087Liabilities 2023: $12,747Net Assets 2023: $281,3402023Assets 2024: $350,286Liabilities 2024: $29,109Net Assets 2024: $321,1772024

Highlighted filing

2019

Assets$358,100
Liabilities$26,059
Net Assets$332,041

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $414,620Expenses 2011: $502,105Net Income 2011: -$87,4852011Expenses 2012: $497,9582012Expenses 2013: $456,8122013Revenue 2014: $314,517Expenses 2014: $327,209Net Income 2014: -$12,6922014Revenue 2015: $557,120Expenses 2015: $455,663Net Income 2015: $101,4572015Revenue 2016: $892,590Expenses 2016: $598,860Net Income 2016: $293,7302016Revenue 2017: $652,173Expenses 2017: $733,515Net Income 2017: -$81,3422017Revenue 2018: $490,222Expenses 2018: $667,328Net Income 2018: -$177,1062018Revenue 2019: $524,808Expenses 2019: $537,141Net Income 2019: -$12,3332019Revenue 2020: $417,028Expenses 2020: $377,605Net Income 2020: $39,4232020Revenue 2021: $156,435Expenses 2021: $213,007Net Income 2021: -$56,5722021Revenue 2022: $345,084Expenses 2022: $354,182Net Income 2022: -$9,0982022Revenue 2023: $348,303Expenses 2023: $415,185Net Income 2023: -$66,8822023Revenue 2024: $494,590Expenses 2024: $454,753Net Income 2024: $39,8372024

Highlighted filing

2019

Revenue$524,808
Expenses$537,141
Net Income-$12,333
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 8, 2020
Return Version
2018v3.1
Gross Receipts
$524,808
Mission and Program Overview

Mission

Implementation of specialized programs for schools.

To support academic achievement and career readiness by promoting business/education partnerships, establishing and sponsoring special projects, and coordinating fundraising activities that enhance learning opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$347,874$336,501▼ $11,373
Accounts Receivable$12,000$21,599▲ $9,599
Total Assets$359,874$358,100▼ $1,774
Liabilities
Accounts Payable and Accrued Expenses-$22,211-
Other Liabilities$10,036$3,848▼ $6,188
Total Liabilities$10,036$26,059▲ $16,023
Net Assets / Fund Balance
Permanently Rstr Net Assets$374,486$360,977▼ $13,509
Unrestricted Net Assets$-24,648$-28,936▼ $4,288
Total Net Assets Fund Balance$349,838$332,041▼ $17,797
Total Liabilities and Net Assets / Fund Balance$359,874$358,100▼ $1,774
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
William O McauliffChief Executive OfficerPT$14,088$14,088

Board Members and Trustees

NameTitle
Elbe BurkePresident
Sarah TuskeyVice President
Judith SteinSecretary
Tere WongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$499,342
Program Service Revenue
$0
Investment Income
$897
Other Revenue
$24,569
All Other Contributions
$499,342
Change in Net Assets
$-12,333

Audited Revenue Reconciliation

Revenue per Audited Statements
$524,808
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$9,600
Total Revenue per Audited Statements
$534,408
Total Revenue per Form 990
$524,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$521,942
Total Fundraising Expense$41,402
Salaries, Compensation, and Employee Benefits$15,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$132,537$49-$132,586
All Other Expenses$48,034$5,774$4,272$58,080
Occupancy--$37,130$37,130
Other Expenses$32,350--$32,350
Fees for Services Other$18,176$4,854-$23,030
Current Officers, Directors, Trustees, and Key Employees-$14,088-$14,088
Insurance-$1,477-$1,477
Payroll Taxes-$1,111-$1,111
Total Functional Expenses$468,386$27,353$41,402$537,141

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$552,205
Expenses per Audited Statements$537,141
Total Expenses per Form 990$537,141
Expenses Not Reported on Form 990$15,064
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$3,848
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

A rough draft is emailed to executive director, william o. Mcauliff for review. If any adjsutments or comments are made, message will be relayed via email.

Form 990, Part VI, Section C, Line 19

All documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Magnet Educational Choice
EIN
65-0290712
Phone
3059951000
Address
1450 NE 2ND AVENUE STE 352 NO 352, MIAMI, FL 33132

Signing Officer

Name
William O Mcauliff
Title
Executive Director
Phone
3059951000
Signed
2020-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William O Mcauliff
Formed
1991
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
4

Preparer

Firm
Glsc & Company Pllc
Address
6303 BLUE LAGOON DRIVE SUITE 200, MIAMI, FL 33126
Preparer
Eduard a Baltar
Phone
3053730123
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Textbooks and materials: program service expenses 27,371. Management and general expenses 112. Fundraising expenses 0. Total expenses 27,483. Miscellaneous expenses: program service expenses 5,147. Management and general expenses 1,968. Fundraising expenses 4,272. Total expenses 11,387. Stipends: program service expenses 5,176. Management and general expenses 3,300. Fundraising expenses 0. Total expenses 8,476. Merchant fees and expenses: program service expenses 7,705. Management and general expenses 325. Fundraising expenses 0. Total expenses 8,030. Photography: program service expenses 1,240. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,240. Public relations: program service expenses 880. Management and general expenses 0. Fundraising expenses 0. Total expenses 880. Postage and delivery: program service expenses 515. Management and general expenses 69. Fundraising expenses 0. Total expenses 584.

FORM 990, PART XI, LINE 9:

Difference in revenue - cash/accrual basis 9,600. Difference in expenses - cash/accrual basis -15,064.

FORM 990, PART XII, LINE 2C:

The process has not change from prior years.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Difference in revenue - cash/accrual basis

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Difference in expenses - cash/accrual basis

Raw XML Appendix373 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIFFERENCE IN EXPENSES - CASH/ACCRUAL BASIS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0537141
IRS990ScheduleD/TotalLiabilityAmt03848
IRS990ScheduleD/TotalRevenuePerForm990Amt0524808
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0534408
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0552205
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A ROUGH DRAFT IS EMAILED TO EXECUTIVE DIRECTOR, WILLIAM O. MCAULIFF FOR REVIEW. IF ANY ADJSUTMENTS OR COMMENTS ARE MADE, MESSAGE WILL BE RELAYED VIA EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TEXTBOOKS AND MATERIALS: PROGRAM SERVICE EXPENSES 27,371. MANAGEMENT AND GENERAL EXPENSES 112. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,483. MISCELLANEOUS EXPENSES: PROGRAM SERVICE EXPENSES 5,147. MANAGEMENT AND GENERAL EXPENSES 1,968. FUNDRAISING EXPENSES 4,272. TOTAL EXPENSES 11,387. STIPENDS: PROGRAM SERVICE EXPENSES 5,176. MANAGEMENT AND GENERAL EXPENSES 3,300. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,476. MERCHANT FEES AND EXPENSES: PROGRAM SERVICE EXPENSES 7,705. MANAGEMENT AND GENERAL EXPENSES 325. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,030. PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 1,240. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,240. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 880. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 880. POSTAGE AND DELIVERY: PROGRAM SERVICE EXPENSES 515. MANAGEMENT AND GENERAL EXPENSES 69. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 584.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIFFERENCE IN REVENUE - CASH/ACCRUAL BASIS 9,600. DIFFERENCE IN EXPENSES - CASH/ACCRUAL BASIS -15,064.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGE FROM PRIOR YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0359874
IRS990/TotalAssetsEOYAmt0358100
IRS990/TotalAssetsGrp/BOYAmt0359874
IRS990/TotalAssetsGrp/EOYAmt0358100
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0499342
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt041402
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt027353
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0468386
IRS990/TotalFunctionalExpensesGrp/TotalAmt0537141
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010036
IRS990/TotalLiabilitiesEOYAmt026059
IRS990/TotalLiabilitiesGrp/BOYAmt010036
IRS990/TotalLiabilitiesGrp/EOYAmt026059
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0349838
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0332041
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0468386
IRS990/TotalReportableCompFromOrgAmt014088
IRS990/TotalRevenueGrp/ExclusionAmt0897
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024569
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0524808
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0359874
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0358100
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-24648
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-28936
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01450 NE 2ND AVENUE STE 352 NO 352
IRS990/USAddress/CityNm0MIAMI
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033132
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM O MCAULIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03059951000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNET EDUCATIONAL CHOICE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
ReturnHeader/Filer/EIN0650290712
ReturnHeader/Filer/PhoneNum03059951000
ReturnHeader/Filer/USAddress/AddressLine1Txt01450 NE 2ND AVENUE STE 352 NO 352
ReturnHeader/Filer/USAddress/CityNm0MIAMI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033132
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F3DEC4CC964EA53A3C387DFED1173A3979AFB1F7
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0043992E840210D9A8E79E291FE49C3FDD6199533
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt096.80.121.221
ReturnHeader/FilingSecurityInformation/IPDt02020-10-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm016:32:22
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203157326
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GLSC & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06303 BLUE LAGOON DRIVE SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033126
ReturnHeader/PreparerPersonGrp/PhoneNum03053730123
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EDUARD A BALTAR
ReturnHeader/ReturnTs02020-10-28T14:01:52-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.50$0.29$3.21$4.95$4.55$0.40
2023Detailed filing. Detailed filing data is available for this year.$2.94$0.13$2.81$3.48$4.15$0.67
2022Detailed filing. Detailed filing data is available for this year.$3.69$0.20$3.48$3.45$3.54$0.09
2021Detailed filing. Detailed filing data is available for this year.$3.60$0.09$3.51$1.56$2.13$0.57
2020Summary only. Only limited summary data is available for this year.$3.82$0.36$3.45$4.17$3.78$0.39
2019Detailed filing. Detailed filing data is available for this year.$3.58$0.26$3.32$5.25$5.37$0.12
2018Detailed filing. Detailed filing data is available for this year.$3.60$0.10$3.50$4.90$6.67$1.77
2017Detailed filing. Detailed filing data is available for this year.$5.29$0.02$5.27$6.52$7.34$0.81
2016Detailed filing. Detailed filing data is available for this year.$6.08$0.00$6.08$8.93$5.99$2.94
2015Detailed filing. Detailed filing data is available for this year.$3.15$0.01$3.15$5.57$4.56$1.01
2014Detailed filing. Detailed filing data is available for this year.$2.31$0.01$2.30$3.15$3.27$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.02$2.35$4.57
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$0.02$3.60$4.98
2011Summary only. Only limited summary data is available for this year.$4.80$0.05$4.75$4.15$5.02$0.87