Civic Intelligence

Share the Magic Foundation Inc.

990 • Fiscal year 2020 • EIN 81-1221582

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

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

52nd percentile

0.05x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

53rd percentile

0.07x

Higher debt load relative to revenue than 53% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

82nd percentile

34%

Higher net margin than 82% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

80th percentile

$78,104

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

80th percentile

43%

Faster asset growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

60th percentile

5.0%

Faster revenue growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$655,992

Up $197,354 (+43%) from 2019

Net Assets

Up

$619,958

Up $164,720 (+36%) from 2019

Liabilities

Up

$36,034

Up $32,634 (+960%) from 2019

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin82nd percentile

Revenue

Up

$485,439

Up $23,104 (+5.0%) from 2019

Expenses

Down

$320,719

Down $79,254 (-20%) from 2019

Net Income

Up

$164,720

Up $102,358 (+164%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth80th 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

2020

Assets$655,992
Liabilities$36,034
Net Assets$619,958
Open 2020 Filing

Operations Trend

Revenue Growth60th 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

2020

Revenue$485,439
Expenses$320,719
Net Income$164,720
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$556,898
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 promote the long-term benefits of reading and book ownership among students in title 1 schools and underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$455,238$619,958▲ $164,720
Savings and Temporary Cash Investments$41,151$400,592▲ $359,441
Cash and Non-Interest-Bearing Accounts$411,487$255,400▼ $156,087
Prepaid Expenses and Deferred Charges$6,000--
Total Assets$458,638$655,992▲ $197,354
Liabilities
Other Liabilities-$28,908-
Accounts Payable and Accrued Expenses$3,400$7,126▲ $3,726
Total Liabilities$3,400$36,034▲ $32,634
Net Assets / Fund Balance
Total Net Assets Fund Balance$455,238$619,958▲ $164,720
Total Liabilities and Net Assets / Fund Balance$458,638$655,992▲ $197,354
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Malcolm MitchellCEOFT$78,104$78,104
Anne SappExecutive DiFT$24,000$24,000

Board Members and Trustees

NameTitle
Carla WilliamsDirector
John ParkerDirector
Larry HansonDirector
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
$523,037
Program Service Revenue
$28,995
Investment Income
$566
Other Revenue
$-67,159
All Other Contributions
$88,329
Change in Net Assets
$164,720

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$25,014
Total Noncash Contributions1$25,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$235,811
Other Expenses$84,908
Total Fundraising Expense$14,451
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$86,520$10,300$6,180$103,000
Other Salaries and Wages$51,950$6,184$3,711$61,845
Other Employee Benefits$48,815$5,812$3,487$58,114
Information Technology$31,161--$31,161
Payroll Taxes$10,796$1,285$771$12,852
Fees for Services Accounting-$10,100-$10,100
Insurance$4,231$504$302$5,037
Other Expenses$12,668$3,866-$3,866
Fees for Services Other$1,851--$1,851
Travel$1,180--$1,180
Total Functional Expenses$263,876$42,392$14,451$320,719
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$71,459
Fundraising Gross Income$4,300
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Atlanta Event$439,008$4,300$71,459$-67,159
Total Events$439,008$4,300$71,459$-67,159
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$14,704
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Paycheck Protection Program Loan$28,908
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
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Malcolm Mitchell
Formed
2016
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
9
Employees
4
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

Additional Explanations

Form 990, Page 2, Part III, Line 2

“VIRTUAL READING RALLIES.”

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, 2020 and 2019, 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.”

Raw XML AppendixShowing 400 of 427 raw XML fields

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/OtherLiabilitiesOrgGrp/Desc0PAYCHECK PROTECTION PROGRAM LOAN
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, 2020 AND 2019, 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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0MALCOLM MITCHELL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FOUNDER/CEO
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt014704
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 14,704 TO STM FOR THE YEAR ENDED DECEMBER 31, 2020.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VIRTUAL READING RALLIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DAVID SAPP ANNE SAPP CFO EXEC. DIR. HUSBAND/WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3DONE ANUALLY FOR EMPLOYEES AND BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD REVIEWS OFFICER SALARIES USING THIRD-PARTY DATA SUCH AS GUIDESTAR NONPROFIT COMPENSATION REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD REVIEWS OFFICER SALARIES USING THIRD-PARTY DATA SUCH AS GUIDESTAR NONPROFIT COMPENSATION REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID J SAPP

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$655,992
Liabilities
$36,034
Net assets
$619,958
Revenue
$485,439
Expenses
$320,719
Net income
$164,720
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