Civic Intelligence

Magneto Association

990 • Fiscal year 2021 • EIN 83-3554159

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

Organization ProfileMAGENTOASSOCIATION.ORG
330 North Wabash Avenue 2000Chicago, IL 60611

(312) 673-5398

Siviq Scores

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

Liabilities / Assets

71st percentile

0.09x

Higher debt load relative to assets than 71% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.06x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

69th percentile

20%

Higher net margin than 69% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets71st percentile

Assets

$291,699

No earlier filing loaded for comparison.

Net Assets

$263,990

No earlier filing loaded for comparison.

Liabilities

$27,709

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin69th percentile

Revenue

$465,578

No earlier filing loaded for comparison.

Expenses

$373,312

No earlier filing loaded for comparison.

Net Income

$92,266

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$300K$200K$100K$0Assets 2021: $291,699Liabilities 2021: $27,709Net Assets 2021: $263,9902021Assets 2022: $305,690Liabilities 2022: $100,133Net Assets 2022: $205,5572022

Highlighted filing

2021

Assets$291,699
Liabilities$27,709
Net Assets$263,990
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KRevenue 2021: $465,578Expenses 2021: $373,312Net Income 2021: $92,2662021Revenue 2022: $382,097Expenses 2022: $440,529Net Income 2022: -$58,4322022

Highlighted filing

2021

Revenue$465,578
Expenses$373,312
Net Income$92,266
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$465,578
Mission and Program Overview

Mission

Magento association works to advance and empower the global magento community and commerce ecosystem through open collaboration, education, and thought leadership. The association is dedicated to fostering and supporting technology projects, community events, training and education, and online collaboration with the vision of creating an open, healthy and powerful magento ecosystem for continued success of future generations.

Advance and empower the global magento community and commerce ecosystem through open collaboration, education, and thought leadership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$309,960$244,057▼ $65,903
Prepaid Expenses and Deferred Charges$54,558$47,642▼ $6,916
Accounts Receivable$3,000--
Total Assets$367,518$291,699▼ $75,819
Liabilities
Accounts Payable and Accrued Expenses$36,211$15,209▼ $21,002
Deferred Revenue$159,583$12,500▼ $147,083
Total Liabilities$195,794$27,709▼ $168,085
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$171,724$263,990▲ $92,266
Total Net Assets Fund Balance$171,724$263,990▲ $92,266
Total Liabilities and Net Assets / Fund Balance$367,518$291,699▼ $75,819
Compensation and Service Providers
Top Officer Pay72nd percentile

Board Members and Trustees

NameTitle
Joshua WarrenPresident
Viacheslav KravchukVice President
Andrew FigginsDirector
Eric ErwayDirector
Sonja FranzDirector
Brian LangermanExecutive Director (smithb
Danny VerkadeSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Smithbucklin CorporationManagement Services330 NORTH WABASH AVENUE SUITE 2000, Chicago, IL 60611$335,937
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$465,578
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$92,266

Audited Revenue Reconciliation

Revenue per Audited Statements
$465,578
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$465,578
Total Revenue per Form 990
$465,578
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$373,312
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$335,937
Information Technology---$14,894
Fees for Services Other---$10,590
Fees for Services Accounting---$5,500
All Other Expenses---$3,397
Insurance---$2,871
Fees for Services Legal---$123
Total Functional Expenses$0$0$0$373,312

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$373,312
Total Expenses per Audited Statements$373,312
Total Expenses per Form 990$373,312
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The association has delegated the management of its daily operations to smithbucklin corporation (smithbucklin) in chicago. Smithbucklin is a management company which manages all aspects of the association in accordance with the association's bylaws and policies. Operations may include, but are not limited to, administration, membership, finance and accounting, event planning, marketing, and information technology. Smithbucklin employees provide these services.”

Form 990, Part VI, Section A, Line 6

“The association will ultimately have two classes of members: dues paying "regular members and non-dues paying "other members". However, the association had yet to offer dues paying membership as of december 31, 2021.”

Form 990, Part VI, Section A, Line 7A

“The association is currently served by an inaugural board of directors shall hold office until the first election of directors, after which the association's board of directors will be elected by a vote of its regular members.”

Form 990, Part VI, Section A, Line 7B

“Ultimately, the association's bylaws will require a majority vote of its regular members casting ballots and constituting a quorum in order to be altered, amended, or repealed.”

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

“The association's 990 is prepared by independent public accountants and submitted to its management company for initial review. The form is then submitted to the board of directors for review and discussion prior to filing.”

Form 990, Part VI, Section C, Line 19

“The association's governing documents, conflict of interest policy, and financial statements are available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Magento Association
EIN
83-3554159
Phone
3126735398
Address
330 NORTH WABASH AVENUE 2000, CHICAGO, IL 60611

Signing Officer

Name
Brian Langerman
Title
Executive Director
Phone
3126735398
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Langerman
Formed
2018
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Selden Fox Ltd
Address
619 ENTERPRISE DRIVE, OAK BROOK, IL 60523-8835
Preparer
Robert G Wujek
Phone
6309541400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The association's board of directors is responsible for the oversight of the audit and selection of an independent accountant. This process is consistent with the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The association follows generally accepted accounting principles for nonprofit organizations and has determined it is not required to report a liability for any uncertain tax positions at december 31, 2021.”

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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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IRS990/MissionDesc0MAGENTO ASSOCIATION WORKS TO ADVANCE AND EMPOWER THE GLOBAL MAGENTO COMMUNITY AND COMMERCE ECOSYSTEM THROUGH OPEN COLLABORATION, EDUCATION, AND THOUGHT LEADERSHIP. THE ASSOCIATION IS DEDICATED TO FOSTERING AND SUPPORTING TECHNOLOGY PROJECTS, COMMUNITY EVENTS, TRAINING AND EDUCATION, AND ONLINE COLLABORATION WITH THE VISION OF CREATING AN OPEN, HEALTHY AND POWERFUL MAGENTO ECOSYSTEM FOR CONTINUED SUCCESS OF FUTURE GENERATIONS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0BRING THE MAGENTO E-COMMERCE COMMUNITY TOGETHER THROUGH ITS MA CONNECT EVENTS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION FOLLOWS GENERALLY ACCEPTED ACCOUNTING PRINCIPLES FOR NONPROFIT ORGANIZATIONS AND HAS DETERMINED IT IS NOT REQUIRED TO REPORT A LIABILITY FOR ANY UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS DELEGATED THE MANAGEMENT OF ITS DAILY OPERATIONS TO SMITHBUCKLIN CORPORATION (SMITHBUCKLIN) IN CHICAGO. SMITHBUCKLIN IS A MANAGEMENT COMPANY WHICH MANAGES ALL ASPECTS OF THE ASSOCIATION IN ACCORDANCE WITH THE ASSOCIATION'S BYLAWS AND POLICIES. OPERATIONS MAY INCLUDE, BUT ARE NOT LIMITED TO, ADMINISTRATION, MEMBERSHIP, FINANCE AND ACCOUNTING, EVENT PLANNING, MARKETING, AND INFORMATION TECHNOLOGY. SMITHBUCKLIN EMPLOYEES PROVIDE THESE SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION WILL ULTIMATELY HAVE TWO CLASSES OF MEMBERS: DUES PAYING "REGULAR MEMBERS AND NON-DUES PAYING "OTHER MEMBERS". HOWEVER, THE ASSOCIATION HAD YET TO OFFER DUES PAYING MEMBERSHIP AS OF DECEMBER 31, 2021.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSOCIATION IS CURRENTLY SERVED BY AN INAUGURAL BOARD OF DIRECTORS SHALL HOLD OFFICE UNTIL THE FIRST ELECTION OF DIRECTORS, AFTER WHICH THE ASSOCIATION'S BOARD OF DIRECTORS WILL BE ELECTED BY A VOTE OF ITS REGULAR MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ULTIMATELY, THE ASSOCIATION'S BYLAWS WILL REQUIRE A MAJORITY VOTE OF ITS REGULAR MEMBERS CASTING BALLOTS AND CONSTITUTING A QUORUM IN ORDER TO BE ALTERED, AMENDED, OR REPEALED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ASSOCIATION'S 990 IS PREPARED BY INDEPENDENT PUBLIC ACCOUNTANTS AND SUBMITTED TO ITS MANAGEMENT COMPANY FOR INITIAL REVIEW. THE FORM IS THEN SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND DISCUSSION PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ASSOCIATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ASSOCIATION'S BOARD OF DIRECTORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS IS CONSISTENT WITH THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
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IRS990/TotalProgramServiceRevenueAmt0465578
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0465578
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0465578
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0367518
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0291699
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN LANGERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03126735398
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGENTO ASSOCIATION
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ReturnHeader/PreparerPersonGrp/PhoneNum06309541400
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ReturnHeader/ReturnTs02022-11-08T17:15:34-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRIAN
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$291,699
Liabilities
$27,709
Net assets
$263,990
Revenue
$465,578
Expenses
$373,312
Net income
$92,266
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$3.06$1.00$2.06$3.82$4.41$0.58
2021Detailed filing. Detailed filing data is available for this year.$2.92$0.28$2.64$4.66$3.73$0.92