Civic Intelligence

Magic Music Charitable Foundation

990EZ • Fiscal year 2022 • EIN 84-3576596

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

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

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

39th percentile

-0.3%

Higher net margin than 39% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

28th percentile

-15%

Faster revenue growth than 28% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$1

Down $361 (-100%) from 2021

Net Assets

Down

$0

Down $362 (-100%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin39th percentile

Revenue

Down

$107,250

Down $18,195 (-15%) from 2021

Expenses

Down

$107,612

Down $17,618 (-14%) from 2021

Net Income

Down

-$362

Down $577 (-268%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2022

Assets$1
Liabilities$0
Net Assets$0
Open 2022 Filing

Operations Trend

Revenue Growth28th 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

2022

Revenue$107,250
Expenses$107,612
Net Income-$362
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$107,250
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.-$94,514
Compensation and Service Providers
Top Officer Pay78th 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
2023-11-14
Discuss with paid preparer
Yes

Preparer

Firm
Marshall Warzecha Patrick CPA Pllc
Address
3721 S STONEBRIDGE DR SUITE 304, MCKINNEY, TX 75070
Preparer
Randall Patrick CPA
Phone
9725628025
Supplemental Narrative

Additional Explanations

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: $94514 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $94514 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS”

Other Expenses.1002

“Office Expenses $288”

Other Expenses.1

“Piano Moving $10052”

Other Expenses.2

“Rent, parking, utilities $1450”

Other Expenses.4

“Internet/Website $176”

Other Expenses.5

“Bank Charges $144”

Other Expenses.6

“Supplies $60”

Raw XML Appendix141 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
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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0DALLAS
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0TX
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd075230
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt0362
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IRS990EZ/InfoInScheduleOPartIInd0X
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IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Treasurer
IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherExpensesTotalAmt012170
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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/PrintingPublicationsPostageAmt0326
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/ProgramServiceExpensesAmt094514
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/TotalExpensesAmt0107612
IRS990EZ/TotalProgramServiceExpensesAmt094514
IRS990EZ/TotalRevenueAmt0107250
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationOtherInd0X
IRS990EZ/WebsiteAddressTxt0https://www.magicmusic.com/foundation.html
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0107250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0125445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt090034
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0322729
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportTotal170Amt0322729
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0107250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0125445
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt090034
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0322729
IRS990ScheduleA/TotalSupportAmt0322729
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0| Donee's Name: VARIOUS MUSIC RELATED DONATIONS | Description of Property: VARIOUS MUSICAL INSTRUMEN | Book Value: $94514 | Method Used to Determine BV: BOOK VALUE | Fair Market Value: $94514 | Method Used to Determine FMV: VALUE OF SIMILAR ITEMS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Office Expenses $288
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Piano Moving $10052
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Rent, parking, utilities $1450
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Internet/Website $176
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Bank Charges $144
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Supplies $60
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Grants and Similar Amounts Paid In Excess of $5,000.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Other Expenses.1002
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other Expenses.1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other Expenses.2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Expenses.4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other Expenses.5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other Expenses.6
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN WAINSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
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ReturnHeader/Filer/BusinessNameControlTxt0MAGI
ReturnHeader/Filer/EIN0843576596
ReturnHeader/Filer/PhoneNum02146413626
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ReturnHeader/Filer/USAddress/CityNm0DALLAS
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ReturnHeader/PreparerPersonGrp/PhoneNum09725628025
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Randall Patrick CPA
ReturnHeader/ReturnTs02023-11-14T08:32:11-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WAINSTEIN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1
Liabilities
$0
Net assets
$0
Revenue
$107,250
Expenses
$107,612
Net income
-$362
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