Civic Intelligence

Magic Music Charitable Foundation

990EZ • Fiscal year 2023 • EIN 84-3576596

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.MAGICMUSIC.COM/FOUNDATION
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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

59th percentile

0.00x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

43rd percentile

0.0%

Higher net margin than 43% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

49th percentile

0.0%

Faster asset growth than 49% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

77%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Flat

$1

Flat from 2022

Net Assets

Flat

$0

Flat from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin43rd percentile

Revenue

Up

$189,710

Up $82,460 (+77%) from 2022

Expenses

Up

$189,710

Up $82,098 (+76%) from 2022

Net Income

Up

$0

Up $362 (+100%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2023

Assets$1
Liabilities$0
Net Assets$0
Open 2023 Filing

Operations Trend

Revenue Growth87th 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

2023

Revenue$189,710
Expenses$189,710
Net Income$0
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$189,710
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.

Program Services

DescriptionGrantsExpenses
THE MAGIC MUSIC CHARITABLE FOUNDATION MAKES SCHOLORSHIPS AVAILABLE (IN THE FORM OF GRANTS/FUNDS, MUSIC INSTRUMENTS, AND MUSIC LESSONS) TO ASSIST MUSICE STUDENTS IN ACQUIRING A MUSIC EDUCATION THROUGH ANY MUSIC TEACHER AND ACQUIRING MUSIC INSTRUMENTS THROUGH ANY MUSIC DEALER AROUND THE WORLD.$172,234$189,710
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
Phone
2146413626
Signed
2024-11-15
Discuss with paid preparer
Yes

Preparer

Firm
Cook Johnston & Co Cpas
Address
333 N SAM HOUSTON PKWY E STE 375, HOUSTON, TX 77060
Preparer
Bryce G Schuetz CPA
Phone
2819991636
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10

“Noncash contribution: 172,234 description of property: musical instrum book value: 172,234 fmv explanation: similar item relationship: n/a”

Form 990-ez, Part I, Line 16

“Expenses advertising 26 intrument svc & repairs 352 bank fees 152 instrument moving expense 15,404 internet/website 41 total 15,975”

Form 990-ez, Part III

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

Form 990-ez, Part III, Line 28

“The magic music charitable foundation makes scholorships available (in the form of grants/funds, music instruments, and music lessons) to assist musice students in acquiring a music education through any music teacher and acquiring music instruments through any music dealer around the world.”

Form 990-ez, Part V, Line 35B

“NO UBTI FOR TAX YEAR”

Raw XML Appendix121 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/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/ContributionsGiftsGrantsEtcAmt0189710
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt0384
IRS990EZ/FiledScheduleAInd0true
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
IRS990EZ/Form990TotalAssetsGrp/BOYAmt00
IRS990EZ/Form990TotalAssetsGrp/EOYAmt00
IRS990EZ/GrantsAndSimilarAmountsPaidAmt0172234
IRS990EZ/GrossReceiptsAmt0189710
IRS990EZ/InfoInScheduleOPartIIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InfoInScheduleOPartVInd0X
IRS990EZ/LobbyingActivitiesInd0false
IRS990EZ/MadeLoansToFromOfficersInd0false
IRS990EZ/MethodOfAccountingCashInd0X
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt00
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt00
IRS990EZ/OccupancyRentUtltsAndMaintAmt0781
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/OtherExpensesTotalAmt015975
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd0false
IRS990EZ/PrimaryExemptPurposeTxt0THE MISSION AND PURPOSE OF THE MAGIC MUSIC CHARITABLE FOUNDATION IS TO CREATE SCHOLARSHIPS TO PROVIDE MUSIC LESSONS AND INSTRUMENTS TO UNDERPRIVILEGED MUSIC STUDENTS.
IRS990EZ/PrintingPublicationsPostageAmt0336
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0THE MAGIC MUSIC CHARITABLE FOUNDATION MAKES SCHOLORSHIPS AVAILABLE (IN THE FORM OF GRANTS/FUNDS, MUSIC INSTRUMENTS, AND MUSIC LESSONS) TO ASSIST MUSICE STUDENTS IN ACQUIRING A MUSIC EDUCATION THROUGH ANY MUSIC TEACHER AND ACQUIRING MUSIC INSTRUMENTS THROUGH ANY MUSIC DEALER AROUND THE WORLD.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt0172234
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt0189710
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SpecialConditionDesc0TX202408 HURRICANE BERYL
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt0189710
IRS990EZ/TotalProgramServiceExpensesAmt0189710
IRS990EZ/TotalRevenueAmt0189710
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0HTTPS://WWW.MAGICMUSIC.COM/FOUNDATION
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0189710
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0107250
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0125445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt090034
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0512439
IRS990ScheduleA/PublicSupportTotal170Amt0512439
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0189710
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0107250
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0125445
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt090034
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0512439
IRS990ScheduleA/TotalSupportAmt0512439
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NONCASH CONTRIBUTION: 172,234 DESCRIPTION OF PROPERTY: MUSICAL INSTRUM BOOK VALUE: 172,234 FMV EXPLANATION: SIMILAR ITEM RELATIONSHIP: N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPENSES ADVERTISING 26 INTRUMENT SVC & REPAIRS 352 BANK FEES 152 INSTRUMENT MOVING EXPENSE 15,404 INTERNET/WEBSITE 41 TOTAL 15,975
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MISSION AND PURPOSE OF THE MAGIC MUSIC CHARITABLE FOUNDATION IS TO CREATE SCHOLARSHIPS TO PROVIDE MUSIC LESSONS AND INSTRUMENTS TO UNDERPRIVILEGED MUSIC STUDENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MAGIC MUSIC CHARITABLE FOUNDATION MAKES SCHOLORSHIPS AVAILABLE (IN THE FORM OF GRANTS/FUNDS, MUSIC INSTRUMENTS, AND MUSIC LESSONS) TO ASSIST MUSICE STUDENTS IN ACQUIRING A MUSIC EDUCATION THROUGH ANY MUSIC TEACHER AND ACQUIRING MUSIC INSTRUMENTS THROUGH ANY MUSIC DEALER AROUND THE WORLD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO UBTI FOR TAX YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 10
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART III, LINE 28
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART V, LINE 35B
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN WAINSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02146413626
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
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/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0742124549
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COOK JOHNSTON & CO CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0333 N SAM HOUSTON PKWY E STE 375
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HOUSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077060
ReturnHeader/PreparerPersonGrp/PhoneNum02819991636
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRYCE G SCHUETZ CPA
ReturnHeader/ReturnTs02024-11-15T16:47:39-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1
Liabilities
$0
Net assets
$0
Revenue
$189,710
Expenses
$189,710
Net income
$0
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