Civic Intelligence

Magic City Acceptance Academy Charter School

990 • Fiscal year 2021 • EIN 85-4034546

Oct 01, 2020 to Sep 30, 2021 • Filed on Mar 17, 2023

205 32nd StreetBirmingham, AL 35222

(205) 322-4197

Siviq Scores

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

Liabilities / Assets

29th percentile

0.00x

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

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

Liabilities / Revenue

29th percentile

0.00x

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

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

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

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

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • 501(c)3 • $500k-$1M 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

Assets

$595,638

No earlier filing loaded for comparison.

Net Assets

$595,638

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$701,653

No earlier filing loaded for comparison.

Expenses

$106,015

No earlier filing loaded for comparison.

Net Income

$595,638

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20M$10M$0-$10MAssets 2021: $595,638Liabilities 2021: $0Net Assets 2021: $595,6382021Assets 2022: $5,890,697Liabilities 2022: $5,242,537Net Assets 2022: $648,1602022Assets 2023: $4,907,351Liabilities 2023: $5,826,799Net Assets 2023: -$919,4482023Assets 2024: $18,564,280Liabilities 2024: $19,939,596Net Assets 2024: -$1,375,3162024

Highlighted filing

2021

Assets$595,638
Liabilities$0
Net Assets$595,638

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2021: $701,653Expenses 2021: $106,015Net Income 2021: $595,6382021Revenue 2022: $4,269,299Expenses 2022: $4,404,689Net Income 2022: -$135,3902022Revenue 2023: $4,006,761Expenses 2023: $5,574,369Net Income 2023: -$1,567,6082023Revenue 2024: $7,019,114Expenses 2024: $7,474,982Net Income 2024: -$455,8682024

Highlighted filing

2021

Revenue$701,653
Expenses$106,015
Net Income$595,638
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Mar 17, 2023
Return Version
2020v4.1
Gross Receipts
$701,653
Mission and Program Overview

Mission

The Magic City Acceptance Academy (MCAA) facilitates a community in which all learners are empowered to embrace education, achieve individual success, and take ownership of their future in a positive learning environment.

The Magic City Acceptance Academy facilitates a community in which all learners are empowered to embrace education, achieve individual success, and take ownership of their future in a brave, LGBTQ-affirming learning environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$595,638-
Total Assets$0$595,638▲ $595,638
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$595,638-
Total Net Assets Fund Balance$0$595,638▲ $595,638
Total Liabilities and Net Assets / Fund Balance$0$595,638▲ $595,638
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Karen MusgroveChair
Revenue and Support

Revenue Composition

Contributions and Grants
$701,653
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$542,201
Change in Net Assets
$595,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$103,143
Other Expenses$2,872
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$103,143--$103,143
Insurance$2,361--$2,361
Other Expenses$511--$511
Total Functional Expenses$106,015$0$0$106,015
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

BOARD GIVEN COPY OF 990

Governing documents etc available to public Part VI line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Magic City Acceptance Academy
EIN
85-4034546
Address
205 32ND STREET, Birmingham, AL 35222

Signing Officer

Name
Dr Karen Musgrove
Title
Chair
Phone
2053224197
Signed
2023-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Karen Musgrove
Formed
2020
Legal Domicile
Al
Voting Board Members
7
Independent Board Members
7
Employees
25
Volunteers
5

Preparer

Firm
Kellum Wilson and Associates Pc
Address
3825 LORNA RD STE 212, HOOVER, AL 35244
Preparer
John W Kellum Iii
Phone
2059425424
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