Civic Intelligence

Share the Magic Foundation Inc.

990 • Fiscal year 2019 • EIN 81-1221582

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 05, 2020

Organization ProfileWWW.READWITHMALCOLM.COM
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.

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

Liabilities / Revenue

37th percentile

0.01x

Higher debt load relative to revenue than 37% of similar nonprofits.

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

Net Margin

69th percentile

13%

Higher net margin than 69% of similar nonprofits.

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

Top Officer Pay

57th percentile

$24,776

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

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

Asset Growth

73rd percentile

16%

Faster asset growth than 73% of similar nonprofits.

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

Revenue Growth

38th percentile

-1.3%

Faster revenue growth than 38% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$458,638

Up $62,807 (+16%) from 2018

Net Assets

Up

$455,238

Up $62,362 (+16%) from 2018

Liabilities

Up

$3,400

Up $445 (+15%) from 2018

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin69th percentile

Revenue

Down

$462,335

Down $6,096 (-1.3%) from 2018

Expenses

Up

$399,973

Up $20,630 (+5.4%) from 2018

Net Income

Down

$62,362

Down $26,726 (-30%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

2019

Assets$458,638
Liabilities$3,400
Net Assets$455,238
Open 2019 Filing

Operations Trend

Revenue Growth38th percentile

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

2019

Revenue$462,335
Expenses$399,973
Net Income$62,362
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 5, 2020
Return Version
2019v5.0
Gross Receipts
$578,198
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$392,876$455,238▲ $62,362
Cash and Non-Interest-Bearing Accounts$361,829$411,487▲ $49,658
Savings and Temporary Cash Investments-$41,151-
Investments in Publicly Traded Securities$25,502--
Prepaid Expenses and Deferred Charges$8,500$6,000▼ $2,500
Total Assets$395,831$458,638▲ $62,807
Liabilities
Accounts Payable and Accrued Expenses$2,955$3,400▲ $445
Total Liabilities$2,955$3,400▲ $445
Net Assets / Fund Balance
Total Net Assets Fund Balance$392,876$455,238▲ $62,362
Total Liabilities and Net Assets / Fund Balance$395,831$458,638▲ $62,807
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth PannExecutive DiFT$24,776$24,776
Malcolm MitchellCEOFT$19,021$19,021
Anne SappExecutive DiFT$17,000$17,000

Board Members and Trustees

NameTitle
Carla WilliamsDirector
John ParkerDirector
Michael GelfondDirector
Mohamed MassaquoiDirector
Patricia AdamsDirector
Patricia Ramirez PinckneyDirector
Roy NeillDirector
Wanda J Hayes PhdDirector
David J SappCFO
Revenue and Support

Revenue Composition

Contributions and Grants
$285,988
Program Service Revenue
$180,959
Investment Income
$709
Other Revenue
$-5,321
All Other Contributions
$87,586
Change in Net Assets
$62,362
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$218,978
Salaries, Compensation, and Employee Benefits$180,995
Total Fundraising Expense$18,652
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$60,397$7,550$7,550$75,497
Current Officers, Directors, Trustees, and Key Employees$48,637$6,080$6,080$60,797
Other Employee Benefits$28,837$3,604$3,604$36,045
Travel$22,831--$22,831
Information Technology$16,188--$16,188
Fees for Services Accounting-$9,976-$9,976
Fees for Services Other$9,830--$9,830
Payroll Taxes$6,926$865$865$8,656
Insurance$4,420$553$553$5,526
Other Expenses$130,350$4,018-$4,018
Fees for Services Legal-$375-$375
Total Functional Expenses$328,416$52,905$18,652$399,973
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$75,419
Fundraising Gross Income$67,750
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Boston Event$115,551$36,250$51,617$-15,367
Atlanta Event$149,601$31,500$23,802$7,698
Total Events$265,152$67,750$75,419$-7,669
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$114,980
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
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

“The governing body reviews the financial statements before the form 990 is prepared. The governing body will review the form 990 after it is filed.”

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

“Done anually for employees and board.”

Form 990, Page 6, Part VI, Line 15A

“The board reviews officer salaries using third-party data such as guidestar nonprofit compensation reports.”

Form 990, Page 6, Part VI, Line 15B

“The board reviews officer salaries using third-party data such as guidestar nonprofit compensation reports.”

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
2020-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne Sapp
Formed
2016
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
8
Employees
6
Volunteers
30

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

“Share the magic foundation, inc. (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, 2019 and 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 be the appropriate regulatory authorities and remain open to examination for the last three years.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SHARE THE MAGIC FOUNDATION, INC. (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, 2019 AND 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 BE 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/CharitableContriEvent2Amt079301
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IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0MALCOLM MITCHELL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FOUNDER/CEO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0114980
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 114,980 TO STM FOR THE YEAR ENDED DECEMBER 31, 2019.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAVID SAPP ANNE SAPP CFO EXEC. DIR. HUSBAND/WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY REVIEWS THE FINANCIAL STATEMENTS BEFORE THE FORM 990 IS PREPARED. THE GOVERNING BODY WILL REVIEW THE FORM 990 AFTER IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DONE ANUALLY FOR EMPLOYEES AND BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS OFFICER SALARIES USING THIRD-PARTY DATA SUCH AS GUIDESTAR NONPROFIT COMPENSATION REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS OFFICER SALARIES USING THIRD-PARTY DATA SUCH AS GUIDESTAR NONPROFIT COMPENSATION REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON 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 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$458,638
Liabilities
$3,400
Net assets
$455,238
Revenue
$462,335
Expenses
$399,973
Net income
$62,362
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