Civic Intelligence

Share the Magic Foundation Inc.

990 • Fiscal year 2018 • EIN 81-1221582

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 08, 2019

2870 Peachtree Road 109Atlanta, GA 30305

(678) 974-2668

Siviq Scores

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

Liabilities / Assets

38th percentile

0.01x

Higher debt load relative to assets than 38% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

35th percentile

0.01x

Higher debt load relative to revenue than 35% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

93rd percentile

$137,083

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 29.3% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

83rd percentile

30%

Faster asset growth than 83% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

75th percentile

24%

Faster revenue growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$395,831

Up $92,064 (+30%) from 2017

Net Assets

Up

$392,876

Up $89,109 (+29%) from 2017

Liabilities

Up

$2,955

Up $2,955 from 2017

Revenue

Up

$468,431

Up $91,585 (+24%) from 2017

Expenses

Up

$379,343

Up $231,961 (+157%) from 2017

Net Income

Down

$89,088

Down $140,376 (-61%) from 2017

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

2018

Assets$395,831
Liabilities$2,955
Net Assets$392,876

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

2018

Revenue$468,431
Expenses$379,343
Net Income$89,088
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 8, 2019
Return Version
2018v3.1
Gross Receipts
$512,010
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$303,767$392,876▲ $89,109
Cash and Non-Interest-Bearing Accounts$278,520$361,829▲ $83,309
Investments in Publicly Traded Securities$25,247$25,502▲ $255
Prepaid Expenses and Deferred Charges-$8,500-
Total Assets$303,767$395,831▲ $92,064
Liabilities
Accounts Payable and Accrued Expenses-$2,955-
Total Liabilities$0$2,955▲ $2,955
Net Assets / Fund Balance
Total Net Assets Fund Balance$303,767$392,876▲ $89,109
Total Liabilities and Net Assets / Fund Balance$303,767$395,831▲ $92,064
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth PannExecutive DiFT$137,083$137,083

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$293,997
Program Service Revenue
$178,485
Investment Income
$227
Other Revenue
$-4,278
All Other Contributions
$126,115
Change in Net Assets
$89,088

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 Amount
Securities Publicly Traded1$25,274
Total Noncash Contributions1$25,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$193,637
Salaries, Compensation, and Employee Benefits$173,706
Total Fundraising Expense$17,578
Grants and Similar Amounts Paid$12,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$109,667$13,708$13,708$137,083
Fees for Services Other$34,842--$34,842
Travel$24,633--$24,633
Other Employee Benefits$10,723$1,340$1,340$13,403
Other Salaries and Wages$9,710$1,214$1,214$12,138
Grants to Domestic Orgs$12,000--$12,000
Payroll Taxes$8,866$1,108$1,108$11,082
Information Technology$10,601--$10,601
Fees for Services Accounting-$6,201-$6,201
Other Expenses$7,458$3,859-$3,859
Fees for Services Legal-$2,475-$2,475
Office Expenses$2,379--$2,379
Insurance$1,662$208$208$2,078
Conferences and Meetings-$951-$951
Total Functional Expenses$322,618$39,147$17,578$379,343
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Andrew & Walter Young YmcaAtlanta, GA501c3Support Reading Prog$12,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$43,579
Fundraising Gross Income$36,825
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Atlanta Event$204,707$36,825$43,579$-6,754
Total Events$204,707$36,825$43,579$-6,754
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 MitchellFounder/ceoSale of BooksNo$78,944
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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, Page 6, Part VI, Line 2

David sapp anne sapp cfo exec. Dir. Husband/wife

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

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

Done anually for employees and board.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Share the Magic Foundation Inc
EIN
81-1221582
Phone
6789742668
Address
2870 PEACHTREE ROAD 109, ATLANTA, GA 30305

Signing Officer

Name
David J Sapp
Title
CFO
Phone
4048926669
Signed
2019-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne Sapp
Formed
2016
Legal Domicile
Ga
Voting Board Members
8
Independent Board Members
8
Employees
2
Volunteers
50

Preparer

Firm
Brooks Mcginnis & Company LLC
Address
5607 GLENRIDGE DR STE 650, ATLANTA, GA 30342-4959
Preparer
Miriam H Miller
Phone
4045314940
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Stm is exempt from federal income tax under the provisions of section 501 (c)(3) of the internal revenue code. Income from certain activities not directly related to stm's tax-exempt purpose is subject to taxation as unrelated business income. For the year ended december 31, 2018, stm did not have any unrelated business income, and accordingly, there is no unrelated business income tax. Management believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Stm's income tax returns are subject to examination by the appropriate regulatory authorities and remain open to examination for the last three years.

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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0790392
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0STM IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO STM'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. FOR THE YEAR ENDED DECEMBER 31, 2018, STM DID NOT HAVE ANY UNRELATED BUSINESS INCOME, AND ACCORDINGLY, THERE IS NO UNRELATED BUSINESS INCOME TAX. MANAGEMENT BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. STM'S INCOME TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE APPROPRIATE REGULATORY AUTHORITIES AND REMAIN OPEN TO EXAMINATION FOR THE LAST THREE YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0167882
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0204707
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt036825
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt036825
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-6754
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IRS990ScheduleI/RecipientTable/CashGrantAmt012000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT READING PROG
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ANDREW & WALTER YOUNG YMCA
IRS990ScheduleI/RecipientTable/RecipientEIN0580566253
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt02220 CAMBELLTON RD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ATLANTA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0GA
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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/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0MALCOLM MITCHELL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FOUNDER/CEO
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt078944
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SALE OF BOOKS
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THE FOUNDER, MALCOLM MITCHELL, IS A 100% OWNER OF A FOR-PROFIT COMPANY, READ WITH MALCOLM, INC. READ WITH MALCOLM, INC. SOLD BOOKS TOTALING 78,944 TO STM FOR THE YEAR ENDED DECEMBER 31, 2018.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
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IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAVID SAPP ANNE SAPP CFO EXEC. DIR. HUSBAND/WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DONE ANUALLY FOR EMPLOYEES AND BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalProgramServiceRevenueAmt0178485
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IRS990/TotalRevenueGrp/ExclusionAmt0-6527
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0468431
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0303767
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0395831
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IRS990/TravelGrp/TotalAmt024633
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt02870 PEACHTREE ROAD 109
IRS990/USAddress/CityNm0ATLANTA
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030305
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IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.READWITHMALCOLM.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID J SAPP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum04048926669
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SHARE THE MAGIC FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SHAR
ReturnHeader/Filer/EIN0811221582
ReturnHeader/Filer/PhoneNum06789742668

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