Civic Intelligence

Magic Music Charitable Foundation

990EZ • Fiscal year 2021 • EIN 84-3576596

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization Profilewww.magicmusic.com/foundation.html
PO Box 793398Dallas, TX 75379

(214) 641-3626

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

37th percentile

0.2%

Higher net margin than 37% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

92nd percentile

146%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

71st percentile

39%

Faster revenue growth than 71% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$362

Up $215 (+146%) from 2020

Net Assets

Up

$362

Up $215 (+146%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin37th percentile

Revenue

Up

$125,445

Up $35,411 (+39%) from 2020

Expenses

Up

$125,230

Up $34,829 (+39%) from 2020

Net Income

Up

$215

Up $582 (+159%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$400$300$200$100$0Assets 2020: $147Liabilities 2020: $0Net Assets 2020: $1472020Assets 2021: $362Liabilities 2021: $0Net Assets 2021: $3622021Assets 2022: $1Liabilities 2022: $0Net Assets 2022: $02022Assets 2023: $1Liabilities 2023: $0Net Assets 2023: $02023Assets 2024: $18Liabilities 2024: $0Net Assets 2024: $182024

Highlighted filing

2021

Assets$362
Liabilities$0
Net Assets$362
Open 2021 Filing

Operations Trend

Revenue Growth71st percentile

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

$200K$150K$100K$50K$0-$50KRevenue 2020: $90,034Expenses 2020: $90,401Net Income 2020: -$3672020Revenue 2021: $125,445Expenses 2021: $125,230Net Income 2021: $2152021Revenue 2022: $107,250Expenses 2022: $107,612Net Income 2022: -$3622022Revenue 2023: $189,710Expenses 2023: $189,710Net Income 2023: $02023Revenue 2024: $145,272Expenses 2024: $145,254Net Income 2024: $182024

Highlighted filing

2021

Revenue$125,445
Expenses$125,230
Net Income$215
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$125,445
Mission and Program Overview

Mission

The mission and purpose of the Magic Music Charitable Foundation is to create scholarships to provide music lessons and instruments to underprivileged music Students.

The mission and purpose of the magic music charitable foundation is to create scholorships to provide music lessons and instruments to underprivileged music students.

Program Services

DescriptionGrantsExpenses
THE MAGIC MUSIC FOUNDATION MAKES SCHOLORSHIPS AVAILABLE (IN THE FORM OF GRANTS/FUNDS, MUSIC INSTRUMENTS, AND MUSIC LESSONS) TO ASSIST MUSIC STUDENTS IN ACQUIRING A MUSIC EDUCATION THROUGH ANY MUSIC TEACHER AND ACQUIRING MUSIC INSTRUMENTS THROUGH ANY MUSIC DEALER AROUND THE WORLD.$113,094-
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
CAROL DOREMUSSecretaryPT$0--
ALAN WAINSTEINPresidentPT$0--
THOM CHRISTIANSENTreasurerPT$0--
Filing and Contact Details

Filer

Filer Name
Magic Music Charitable Foundation
EIN
84-3576596
Phone
2146413626
Address
PO BOX 793398, DALLAS, TX 75379

Signing Officer

Name
Alan Wainstein
Title
President
Signed
2022-11-15
Discuss with paid preparer
Yes

Preparer

Firm
Marshall Warzecha Patrick CPA Pllc
Address
2750 VIRGINIA PKWY STE 101, MCKINNEY, TX 75071
Preparer
Randall Patrick CPA
Phone
9725628025
Supplemental Narrative

Additional Explanations

Grants and Similar Amounts Paid In Excess of $5,000.1

“| Donee's Name: W. E. GREINER EXPLORATORY ARTS | Donee's Address: 501 S. EDGEFIELD AVE DALLAS TX 75208 | Description of Property: INSTRUMENTS | Book Value: $23350 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $23350 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS”

Grants and Similar Amounts Paid In Excess of $5,000.2

“| Donee's Name: VARIOUS MUSIC RELATED DONATIONS | Description of Property: VARIOUS MUSICAL INSTRUMEN | Book Value: $89744 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $89744 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS”

Other Expenses.1001

“Advertising and Promotion $36”

Other Expenses.1

“Piano Moving $9522”

Other Expenses.2

“Bank Charges $205”

Other Expenses.4

“Telephone $58”

Raw XML Appendix137 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd0false
IRS990EZ/BooksInCareOfDetail/PersonNm0ALAN WAINSTEIN
IRS990EZ/BooksInCareOfDetail/PhoneNum02146413626
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt05959 ROYAL LANE SUITE 539
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0DALLAS
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd075230
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0147
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt0362
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/ContributionsGiftsGrantsEtcAmt0125445
IRS990EZ/CostOfGoodsSoldAmt00
IRS990EZ/CostOrOtherBasisExpenseSaleAmt00
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/ExcessOrDeficitForYearAmt0215
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt02192
IRS990EZ/FiledScheduleAInd0true
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt0147
IRS990EZ/Form990TotalAssetsGrp/EOYAmt0362
IRS990EZ/FundraisingGrossIncomeAmt00
IRS990EZ/GrantsAndSimilarAmountsPaidAmt0113094
IRS990EZ/GrossReceiptsAmt0125445
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/LobbyingActivitiesInd0false
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt0147
IRS990EZ/NetAssetsOrFundBalancesEOYAmt0362
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt0147
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt0362
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt010.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt120.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt25.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0CAROL DOREMUS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1ALAN WAINSTEIN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2THOM CHRISTIANSEN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Secretary
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Treasurer
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherExpensesTotalAmt09821
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0THE MISSION AND PURPOSE OF THE MAGIC MUSIC CHARITABLE FOUNDATION IS TO CREATE SCHOLORSHIPS TO PROVIDE MUSIC LESSONS AND INSTRUMENTS TO UNDERPRIVILEGED MUSIC STUDENTS.
IRS990EZ/PrintingPublicationsPostageAmt0123
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0THE MAGIC MUSIC FOUNDATION MAKES SCHOLORSHIPS AVAILABLE (IN THE FORM OF GRANTS/FUNDS, MUSIC INSTRUMENTS, AND MUSIC LESSONS) TO ASSIST MUSIC STUDENTS IN ACQUIRING A MUSIC EDUCATION THROUGH ANY MUSIC TEACHER AND ACQUIRING MUSIC INSTRUMENTS THROUGH ANY MUSIC DEALER AROUND THE WORLD.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt0113094
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SpecialEventsDirectExpensesAmt00
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
IRS990EZ/TaxImposedUnderIRC4912Amt00
IRS990EZ/TaxImposedUnderIRC4955Amt00
IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt0125230
IRS990EZ/TotalRevenueAmt0125445
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationOtherInd0X
IRS990EZ/WebsiteAddressTxt0https://www.magicmusic.com/foundation.html
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0125445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt090034
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0215479
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0215479
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0125445
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt090034
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0215479
IRS990ScheduleA/TotalSupportAmt0215479
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0| Donee's Name: W. E. GREINER EXPLORATORY ARTS | Donee's Address: 501 S. EDGEFIELD AVE DALLAS TX 75208 | Description of Property: INSTRUMENTS | Book Value: $23350 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $23350 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1| Donee's Name: VARIOUS MUSIC RELATED DONATIONS | Description of Property: VARIOUS MUSICAL INSTRUMEN | Book Value: $89744 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $89744 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Advertising and Promotion $36
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Piano Moving $9522
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Bank Charges $205
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Telephone $58
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Grants and Similar Amounts Paid In Excess of $5,000.1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Grants and Similar Amounts Paid In Excess of $5,000.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other Expenses.1001
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Expenses.1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Expenses.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Expenses.4
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN WAINSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGIC MUSIC CHARITABLE FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MAGI
ReturnHeader/Filer/EIN0843576596
ReturnHeader/Filer/PhoneNum02146413626
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 793398
ReturnHeader/Filer/USAddress/CityNm0DALLAS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075379
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0474834518
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARSHALL WARZECHA PATRICK CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02750 VIRGINIA PKWY STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MCKINNEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075071
ReturnHeader/PreparerPersonGrp/PhoneNum09725628025
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Randall Patrick CPA
ReturnHeader/ReturnTs02022-11-15T15:33:40-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WAINSTEIN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$362
Liabilities
$0
Net assets
$362
Revenue
$125,445
Expenses
$125,230
Net income
$215
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.45$1.45$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.90$1.90$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.07$1.08$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.25$1.25$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.90$0.90$0.00