Civic Intelligence

The Magic Yarn Project

990 • Fiscal year 2023 • EIN 81-0828812

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 05, 2024

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

58th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

39th percentile

-1.5%

Higher net margin than 39% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

44th percentile

-1.3%

Faster asset growth than 44% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

63rd percentile

17%

Faster revenue growth than 63% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$263,826

Down $3,349 (-1.3%) from 2022

Net Assets

Down

$263,826

Down $3,349 (-1.3%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin39th percentile

Revenue

Up

$219,274

Up $31,792 (+17%) from 2022

Expenses

Up

$222,623

Up $41,146 (+23%) from 2022

Net Income

Down

-$3,349

Down $9,354 (-156%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2023

Assets$263,826
Liabilities$0
Net Assets$263,826
Open 2023 Filing

Operations Trend

Revenue Growth63rd 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

2023

Revenue$219,274
Expenses$222,623
Net Income-$3,349
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 5, 2024
Return Version
2023v5.0
Gross Receipts
$219,274
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$267,175$263,826▼ $3,349
Total Assets$267,175$263,826▼ $3,349
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$267,175$263,826▼ $3,349
Total Net Assets Fund Balance$267,175$263,826▼ $3,349
Total Liabilities and Net Assets / Fund Balance$267,175$263,826▼ $3,349
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Austin GrimesBoard Member
Julie WrigleyBoard Member
Roxie JorgensonBoard Member
Terry FieldsBoard Treasu
Holly ChristensenFounder/boar
Jamie MetcalfSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$219,158
Program Service Revenue
$0
Investment Income
$116
Other Revenue
$0
All Other Contributions
$219,158
Change in Net Assets
$-3,349

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 Table5,280$132,011Estimated Cost
Total Noncash Contributions5,280$132,011-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$222,623
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
Travel$21,731$1,171-$22,902
Office Expenses$14,514$6,029-$20,543
Advertising$4,485--$4,485
Occupancy$3,849--$3,849
Fees for Services Accounting-$1,300-$1,300
Insurance-$842-$842
Other Expenses$34,979$100-$100
Total Functional Expenses$211,569$11,054$0$222,623
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 CEO
Phone
9077642782
Signed
2024-09-05
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
16,600

Preparer

Firm
Centinel Pacific Accounting LLC
Address
PO BOX 876532, WASILLA, AK 99687-6532
Preparer
Michelle Galloway
Phone
9078852735
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/PreparerPersonGrp/PhoneNum09078852735
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHELLE GALLOWAY
ReturnHeader/ReturnTs02024-09-05T18:51:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$263,826
Liabilities
$0
Net assets
$263,826
Revenue
$219,274
Expenses
$222,623
Net income
-$3,349
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