Civic Intelligence

Share the Magic Foundation Inc.

990 • Fiscal year 2017 • EIN 81-1221582

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 13, 2018

Organization ProfileWWW.READWITHMALCOLM.COM
2870 Peachtree Road 109Atlanta, GA 30305

(404) 892-6669

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$303,767

Up $229,464 (+309%) from 2016

Net Assets

Up

$303,767

Up $229,464 (+309%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses

Revenue

Up

$376,846

Up $266,274 (+241%) from 2016

Expenses

Up

$147,382

Up $111,113 (+306%) from 2016

Net Income

Up

$229,464

Up $155,161 (+209%) from 2016

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2016: $74,303Liabilities 2016: $0Net Assets 2016: $74,3032016Assets 2017: $303,767Liabilities 2017: $0Net Assets 2017: $303,7672017Assets 2018: $395,831Liabilities 2018: $2,955Net Assets 2018: $392,8762018Assets 2019: $458,638Liabilities 2019: $3,400Net Assets 2019: $455,2382019Assets 2020: $655,992Liabilities 2020: $36,034Net Assets 2020: $619,9582020Assets 2021: $964,587Liabilities 2021: $73,453Net Assets 2021: $891,1342021Assets 2022: $1,475,901Liabilities 2022: $94,550Net Assets 2022: $1,381,3512022Assets 2023: $2,187,623Liabilities 2023: $257,306Net Assets 2023: $1,930,3172023Assets 2024: $2,699,352Liabilities 2024: $285,845Net Assets 2024: $2,413,5072024

Highlighted filing

2017

Assets$303,767
Liabilities$0
Net Assets$303,767
Open 2017 Filing

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2016: $110,572Expenses 2016: $36,269Net Income 2016: $74,3032016Revenue 2017: $376,846Expenses 2017: $147,382Net Income 2017: $229,4642017Revenue 2018: $468,431Expenses 2018: $379,343Net Income 2018: $89,0882018Revenue 2019: $462,335Expenses 2019: $399,973Net Income 2019: $62,3622019Revenue 2020: $485,439Expenses 2020: $320,719Net Income 2020: $164,7202020Revenue 2021: $657,290Expenses 2021: $368,780Net Income 2021: $288,5102021Revenue 2022: $1,213,550Expenses 2022: $722,974Net Income 2022: $490,5762022Revenue 2023: $1,618,052Expenses 2023: $1,139,723Net Income 2023: $478,3292023Revenue 2024: $1,700,734Expenses 2024: $1,294,239Net Income 2024: $406,4952024

Highlighted filing

2017

Revenue$376,846
Expenses$147,382
Net Income$229,464
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 13, 2018
Return Version
2017v2.3
Gross Receipts
$400,546
Mission and Program Overview

Mission

To promote the long-term benefits of reading and book ownership among students in title 1 schools and unserved communities.

To transform the lives of young students through literacy by introducing book ownership to students in households where reading is not a priority and to improve literacy among students with below grade-level reading skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$74,303$303,767▲ $229,464
Cash and Non-Interest-Bearing Accounts$74,303$278,520▲ $204,217
Investments in Publicly Traded Securities-$25,247-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$74,303$303,767▲ $229,464
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$74,303$303,767▲ $229,464
Total Liabilities and Net Assets / Fund Balance$74,303$303,767▲ $229,464
Compensation and Service Providers

Board Members and Trustees

NameTitle
Malcolm MitchellPresident and Founder
Carla WilliamsDirector
John ParkerDirector
Michael GelfondDirector
Mohamed MassaquoiDirector
Patricia Ramirez PinckneyDirector
Roy NeillDirector
Anne SappExecutive Director
Beth PannExecutive Director
David SappChief Financial Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$385,823
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-8,977
All Other Contributions
$270,796
Change in Net Assets
$229,464
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$105,000
Grants and Similar Amounts Paid$42,382
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$42,382--$42,382
Fees for Services Other$5,473$16,250-$21,723
Travel$11,635--$11,635
Fees for Services Accounting-$5,450-$5,450
Insurance-$849-$849
Office Expenses-$648-$648
Other Expenses$56,929$150-$150
Total Functional Expenses$116,419$30,963$0$147,382
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ushers New Look IncAtlanta, GA501(c)(3)To Support Reading Room$10,000
Page Turners Make Great Learners IncAtlanta, GA501(c)(3)To Support Reading Program$0
Read BostonBoston, MAGovt. Org.To Support Reading Program$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,700
Fundraising Gross Income$14,723
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Literacy Luncheon$123,586$14,723$3,612$11,111
THE TALBOT'S, INC.$6,164---
Total Events$129,750$14,723$23,700$-8,977
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-MALCOLM MITCHELL, FOUNDER; 100% SHAREHOLDER, READ WITH MALCOLM, INC.Share the Magic Foundation, Inc. Purchases Books From Read With Malcolm, Inc., Along With Coordinating Joint Fundraising Ventures.No$89,311
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Anne sapp, director, and david j. Sapp, chief financial officer, are spouses.”

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

“The board reviews the form 990 prior to filing.”

Form 990, Part VI, Section B, Line 12C

“The organization monitors their conflict of interest policy through a conflict of interest disclosure statement filled out by each board member.”

Form 990, Part VI, Section C, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Share the Magic Foundation Inc
EIN
81-1221582
Phone
4048926669
Address
2870 PEACHTREE ROAD 109, ATLANTA, GA 30305

Signing Officer

Name
David J Sapp
Title
Chief Financial Officer
Phone
4048926669
Signed
2018-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David J Sapp
Formed
2016
Legal Domicile
Ga
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
10

Preparer

Firm
Carr Riggs & Ingram LLC
Address
4360 CHAMBLEE DUNWOODY RD STE 420, ATLANTA, GA 30341
Preparer
Scott M Abrams
Phone
7704576606
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract labor: program service expenses 5,473. Management and general expenses 16,250. Fundraising expenses 0. Total expenses 21,723.”

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IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOVT. ORG.
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt09035
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt17550
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0BOOKS
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1BOOKS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO SUPPORT READING PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1TO SUPPORT READING PROGRAM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO SUPPORT READING ROOM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0READ BOSTON
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1PAGE TURNERS MAKE GREAT LEARNERS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2USHERS NEW LOOK INC
IRS990ScheduleI/RecipientTable/RecipientEIN0888888888
IRS990ScheduleI/RecipientTable/RecipientEIN1200364107
IRS990ScheduleI/RecipientTable/RecipientEIN2582480934
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt043 HAWKINS STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 7723
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2500 BISHOP STREET NW SUITE B-5
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ATLANTA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ATLANTA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1GA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2GA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002114
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd130357
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd230318
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK COST
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1BOOK COST
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS A CUMULATIVE SPREADSHEET FOR FUNDS SPECIFICALLY DESIGNATED AND GRANTED TO OTHER ORGANIZATIONS. THIS PROCESS IS REVIEWED BY THE EXECUTIVE DIRECTOR AND DIRECTOR OF PROGRAMMING REGARDING SUCH DESIGNATIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0READ WITH MALCOLM INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0MALCOLM MITCHELL, FOUNDER; 100% SHAREHOLDER, READ WITH MALCOLM, INC.
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt089311
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SHARE THE MAGIC FOUNDATION, INC. PURCHASES BOOKS FROM READ WITH MALCOLM, INC., ALONG WITH COORDINATING JOINT FUNDRAISING VENTURES.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANNE SAPP, DIRECTOR, AND DAVID J. SAPP, CHIEF FINANCIAL OFFICER, ARE SPOUSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MONITORS THEIR CONFLICT OF INTEREST POLICY THROUGH A CONFLICT OF INTEREST DISCLOSURE STATEMENT FILLED OUT BY EACH BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACT LABOR: PROGRAM SERVICE EXPENSES 5,473. MANAGEMENT AND GENERAL EXPENSES 16,250. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,723.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd01
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0474669285
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LITERATURE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0READ WITH MALCOLM INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt015 NORTHWOOD AVE NE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0ATLANTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0GA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd030309
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt089311
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST OF BOOKS, SHARED SERVICES
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0READ WITH MALCOLM INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0H
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/StatesWhereCopyOfReturnIsFldCd1MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt074303
IRS990/TotalAssetsEOYAmt0303767
IRS990/TotalAssetsGrp/BOYAmt074303
IRS990/TotalAssetsGrp/EOYAmt0303767
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0385823
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030963
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0116419
IRS990/TotalFunctionalExpensesGrp/TotalAmt0147382
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt074303
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0303767
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0116419
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-8977
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$303,767
Liabilities
$0
Net assets
$303,767
Revenue
$376,846
Expenses
$147,382
Net income
$229,464
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.70$0.29$2.41$1.70$1.29$0.41
2023Detailed filing. Detailed filing data is available for this year.$2.19$0.26$1.93$1.62$1.14$0.48
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.48$0.09$1.38$1.21$0.72$0.49
2021Detailed filing. Detailed filing data is available for this year.$0.96$0.07$0.89$0.66$0.37$0.29
2020Detailed filing. Detailed filing data is available for this year.$0.66$0.04$0.62$0.49$0.32$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.46$0.40$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.39$0.47$0.38$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.38$0.15$0.23
2016Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.11$0.04$0.07