Civic Intelligence

Share the Magic Foundation Inc.

990 • Fiscal year 2021 • EIN 81-1221582

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

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

62nd percentile

0.08x

Higher debt load relative to assets than 62% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

66th percentile

0.11x

Higher debt load relative to revenue than 66% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

83rd percentile

44%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

87th percentile

$94,855

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 14.4% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

82nd percentile

47%

Faster asset growth than 82% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

67th percentile

35%

Faster revenue growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$964,587

Up $308,595 (+47%) from 2020

Net Assets

Up

$891,134

Up $271,176 (+44%) from 2020

Liabilities

Up

$73,453

Up $37,419 (+104%) from 2020

Revenue

Up

$657,290

Up $171,851 (+35%) from 2020

Expenses

Up

$368,780

Up $48,061 (+15%) from 2020

Net Income

Up

$288,510

Up $123,790 (+75%) from 2020

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

2021

Assets$964,587
Liabilities$73,453
Net Assets$891,134

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

2021

Revenue$657,290
Expenses$368,780
Net Income$288,510
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$666,398
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$619,958$891,134▲ $271,176
Cash and Non-Interest-Bearing Accounts$255,400$533,658▲ $278,258
Investments in Publicly Traded Securities-$421,984-
Savings and Temporary Cash Investments$400,592--
Prepaid Expenses and Deferred Charges-$8,945-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$655,992$964,587▲ $308,595
Liabilities
Other Liabilities$28,908$70,000▲ $41,092
Accounts Payable and Accrued Expenses$7,126$3,453▼ $3,673
Total Liabilities$36,034$73,453▲ $37,419
Net Assets / Fund Balance
Total Net Assets Fund Balance$619,958$891,134▲ $271,176
Total Liabilities and Net Assets / Fund Balance$655,992$964,587▲ $308,595
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Malcolm MitchellCEOFT$92,705$2,150$94,855
Anne SappExecutive DirectorFT$24,000-$24,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$533,726
Program Service Revenue
$113,464
Investment Income
$3,677
Other Revenue
$6,423
All Other Contributions
$504,818
Change in Net Assets
$288,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$198,024
Other Expenses$170,756
Total Fundraising Expense$16,367
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$96,598$11,670$8,436$116,704
Information Technology$47,696--$47,696
Payroll Taxes$39,616$4,716$2,831$47,163
Other Salaries and Wages$23,629$2,855$2,064$28,548
Fees for Services Accounting-$11,300-$11,300
Travel$8,817--$8,817
Fees for Services Other$8,397--$8,397
Other Expenses$7,187$5,912$2,700$5,912
Other Employee Benefits$3,168$377$226$3,771
Insurance-$3,472-$3,472
Pension Plan Contributions$1,544$184$110$1,838
Total Functional Expenses$290,562$61,851$16,367$368,780
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advances on Fundraising Events$70,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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, Part VI, Section A, Line 2

Anne sapp and david sapp have a family relationship.

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

Done anually for employees and board.

Form 990, Part VI, Section B, Line 15

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

Form 990, Part VI, Section C, Line 19

Upon request to appropriate parties with specific business need.

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
6789742668
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David J Sapp
Formed
2016
Legal Domicile
Ga
Voting Board Members
11
Independent Board Members
10
Employees
4
Volunteers
30

Preparer

Firm
Carr Riggs & Ingram LLC
Address
4004 SUMMIT BLVD NE SUITE 800, ATLANTA, GA 30319
Preparer
Tiffany T Orr CPA
Phone
7703948000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Under section 501(c)(3) of the internal revenue code, the organization is exempt from taxes on income other than unrelated business income. The organization utilizes the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of december 31, 2021 and 2020, the. Organization has no uncertain tax provisions that qualify for recognition or disclosure in the financial statements.

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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0113464
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0113464
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0523037
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0566
IRS990/PYOtherExpensesAmt084908
IRS990/PYOtherRevenueAmt0-67159
IRS990/PYProgramServiceRevenueAmt028995
IRS990/PYRevenuesLessExpensesAmt0164720
IRS990/PYSalariesCompEmpBnftPaidAmt0235811
IRS990/PYTotalExpensesAmt0320719
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0485439
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0288510
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0113464
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0619958
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0891134
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0400592
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0519326
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0523037
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0285988
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0293997
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0385823
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02008171
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03734
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0566
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0708
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0227
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt05235
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0506727
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt06423
IRS990ScheduleA/OtherIncome170Grp/TotalAmt06423
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.79740
IRS990ScheduleA/PublicSupportTotal170Amt01610520
IRS990ScheduleA/SubstantialContributorsTotAmt0397651
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0519326
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0523037
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0285988
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0293997
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0385823
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02008171
IRS990ScheduleA/TotalSupportAmt02019829
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt070000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REFUNDABLE ADVANCES ON FUNDRAISING EVENTS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE ORGANIZATION IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE ORGANIZATION UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2021 AND 2020, THE. ORGANIZATION HAS NO UNCERTAIN TAX PROVISIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt070000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANNE SAPP AND DAVID SAPP HAVE A FAMILY RELATIONSHIP.
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. THE BOARD REVIEWS OFFICER SALARIES USING THIRD-PARTY DATA SUCH AS GUIDESTAR NONPROFIT COMPENSATION REPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST TO APPROPRIATE PARTIES WITH SPECIFIC BUSINESS NEED.
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0655992
IRS990/TotalAssetsEOYAmt0964587
IRS990/TotalAssetsGrp/BOYAmt0655992
IRS990/TotalAssetsGrp/EOYAmt0964587
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0533726
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt016367
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt061851
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0290562
IRS990/TotalFunctionalExpensesGrp/TotalAmt0368780
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt036034
IRS990/TotalLiabilitiesEOYAmt073453
IRS990/TotalLiabilitiesGrp/BOYAmt036034
IRS990/TotalLiabilitiesGrp/EOYAmt073453
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0619958
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0891134
IRS990/TotalOtherCompensationAmt02150
IRS990/TotalProgramServiceExpensesAmt0290562
IRS990/TotalProgramServiceRevenueAmt0113464
IRS990/TotalReportableCompFromOrgAmt0116705
IRS990/TotalRevenueGrp/ExclusionAmt03677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0119887
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0657290
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0655992
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0964587
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08817
IRS990/TravelGrp/TotalAmt08817
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X

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