Civic Intelligence

The Magic Yarn Project

990 • Fiscal year 2020 • EIN 81-0828812

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 26, 2021

Organization ProfileTHEMAGICYARNPROJECT.COM
PO Box 83Palmer, AK 99645

(907) 764-2782

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

64th percentile

15%

Higher net margin than 64% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

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.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

72nd percentile

29%

Faster asset growth than 72% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

62nd percentile

-1.3%

Faster revenue growth than 62% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$189,167

Up $42,887 (+29%) from 2019

Net Assets

Up

$189,167

Up $42,887 (+29%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin64th percentile

Revenue

Down

$278,076

Down $3,792 (-1.3%) from 2019

Expenses

Down

$235,189

Down $67,813 (-22%) from 2019

Net Income

Up

$42,887

Up $64,021 (+303%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$600K$400K$200K$0Assets 2017: $106,145Liabilities 2017: $0Net Assets 2017: $106,1452017Assets 2018: $167,414Liabilities 2018: $0Net Assets 2018: $167,4142018Assets 2019: $146,280Liabilities 2019: $0Net Assets 2019: $146,2802019Assets 2020: $189,167Liabilities 2020: $0Net Assets 2020: $189,1672020Assets 2021: $261,170Liabilities 2021: $0Net Assets 2021: $261,1702021Assets 2022: $267,175Liabilities 2022: $0Net Assets 2022: $267,1752022Assets 2023: $263,826Liabilities 2023: $0Net Assets 2023: $263,8262023Assets 2024: $561,505Liabilities 2024: $0Net Assets 2024: $561,5052024

Highlighted filing

2020

Assets$189,167
Liabilities$0
Net Assets$189,167
Open 2020 Filing

Operations Trend

Revenue Growth62nd percentile

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

$600K$400K$200K$0-$200KRevenue 2017: $334,269Expenses 2017: $246,917Net Income 2017: $87,3522017Revenue 2018: $320,358Expenses 2018: $259,089Net Income 2018: $61,2692018Revenue 2019: $281,868Expenses 2019: $303,002Net Income 2019: -$21,1342019Revenue 2020: $278,076Expenses 2020: $235,189Net Income 2020: $42,8872020Revenue 2021: $214,166Expenses 2021: $142,163Net Income 2021: $72,0032021Revenue 2022: $187,482Expenses 2022: $181,477Net Income 2022: $6,0052022Revenue 2023: $219,274Expenses 2023: $222,623Net Income 2023: -$3,3492023Revenue 2024: $394,774Expenses 2024: $469,931Net Income 2024: -$75,1572024

Highlighted filing

2020

Revenue$278,076
Expenses$235,189
Net Income$42,887
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 26, 2021
Return Version
2020v4.0
Gross Receipts
$278,076
Mission and Program Overview

Mission

Our mission is to bring magic into the lives of children battling cancer by providing magic yarn wigs that are inspired by beloved disney characters, and invite children back to the world of play and daydreaming; and to inspire volunteerism to make a difference.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$146,280$189,167▲ $42,887
Total Assets$146,280$189,167▲ $42,887
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$146,280$189,167▲ $42,887
Total Net Assets Fund Balance$146,280$189,167▲ $42,887
Total Liabilities and Net Assets / Fund Balance$146,280$189,167▲ $42,887
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Austin GrimesBoard Member
Jamie MetcalfBoard Member
Julie WrigleyBoard Member
Roxie MayberryBoard Member
Terry FieldsBoard Treasu
Brianna HitchcockFounder/boar
Holly ChristensenFounder/boar
Revenue and Support

Revenue Composition

Contributions and Grants
$278,056
Program Service Revenue
$0
Investment Income
$20
Other Revenue
$0
All Other Contributions
$278,056
Change in Net Assets
$42,887

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table9,000$150,628Estimated Costs
Total Noncash Contributions9,000$150,628-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$235,189
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
Office Expenses$14,641$23,539-$38,180
Other Expenses$31,476$5,793-$5,793
Travel$2,569$1,588-$4,157
Fees for Services Legal-$2,560-$2,560
Occupancy$1,519--$1,519
Advertising$876--$876
Total Functional Expenses$201,709$33,480$0$235,189
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A copy of the 990 is provided to all board members for review and concurrance prior to filing.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
The Magic Yarn Project
EIN
81-0828812
Phone
9077642782
Address
PO BOX 83, PALMER, AK 99645

Signing Officer

Name
Holly Christensen
Title
Founder/board Co-CEO
Phone
9077642782
Signed
2021-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Holly Christensen
Formed
2016
Legal Domicile
Ak
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6,200

Preparer

Firm
Centinel Pacific Accounting LLC
Address
PO BOX 3491, PALMER, AK 99645-3491
Preparer
Donald Vieira
Phone
9073734100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Our mission is to bring magic into the lives of children battling cancer by providing magic yarn wigs that are inspired by beloved disney characters, and invite children back to the world of play and daydreaming; and to inspire volunteerism to make a difference.”

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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/ExplanationTxt1A COPY OF THE 990 IS PROVIDED TO ALL BOARD MEMBERS FOR REVIEW AND CONCURRANCE PRIOR TO FILING.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0996453491
ReturnHeader/PreparerPersonGrp/PhoneNum09073734100
ReturnHeader/PreparerPersonGrp/PreparationDt02021-07-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONALD VIEIRA
ReturnHeader/ReturnTs02021-07-26T12:19:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0HOLLY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CHRISTENSEN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$189,167
Liabilities
$0
Net assets
$189,167
Revenue
$278,076
Expenses
$235,189
Net income
$42,887
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.62$0.00$5.62$3.95$4.70$0.75
2023Detailed filing. Detailed filing data is available for this year.$2.64$0.00$2.64$2.19$2.23$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.67$0.00$2.67$1.87$1.81$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.61$0.00$2.61$2.14$1.42$0.72
2020Detailed filing. Detailed filing data is available for this year.$1.89$0.00$1.89$2.78$2.35$0.43
2019Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$2.82$3.03$0.21
2018Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$3.20$2.59$0.61
2017Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$3.34$2.47$0.87