Civic Intelligence

Love Your Magic Inc

990 • Fiscal year 2022 • EIN 87-2061145

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 05, 2023

Organization ProfileLOVEYOURMAGIC.ORG
36 Market Street Unit 4Lynn, MA 01901

(202) 830-6652

Siviq Scores

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

Liabilities / Assets

60th percentile

0.05x

Higher debt load relative to assets than 60% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

51st percentile

0.02x

Higher debt load relative to revenue than 51% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

83rd percentile

36%

Higher net margin than 83% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

93rd percentile

$132,212

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 22.7% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

88th percentile

58%

Faster asset growth than 88% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

338%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$279,933

Up $102,392 (+58%) from 2021

Net Assets

Up

$266,023

Up $210,098 (+376%) from 2021

Liabilities

Down

$13,910

Down $107,706 (-89%) from 2021

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin83rd percentile

Revenue

Up

$582,211

Up $449,424 (+338%) from 2021

Expenses

Up

$372,113

Up $295,251 (+384%) from 2021

Net Income

Up

$210,098

Up $154,173 (+276%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$400K$300K$200K$100K$0Assets 2021: $177,541Liabilities 2021: $121,616Net Assets 2021: $55,9252021Assets 2022: $279,933Liabilities 2022: $13,910Net Assets 2022: $266,0232022Assets 2023: $217,549Liabilities 2023: $23,333Net Assets 2023: $194,2162023Assets 2024: $128,516Liabilities 2024: $37,904Net Assets 2024: $90,6122024Assets 2025: $353,725Liabilities 2025: $15,927Net Assets 2025: $337,7982025

Highlighted filing

2022

Assets$279,933
Liabilities$13,910
Net Assets$266,023
Open 2022 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.0M$500K$0-$500KRevenue 2021: $132,787Expenses 2021: $76,862Net Income 2021: $55,9252021Revenue 2022: $582,211Expenses 2022: $372,113Net Income 2022: $210,0982022Revenue 2023: $113,197Expenses 2023: $185,004Net Income 2023: -$71,8072023Revenue 2024: $428,781Expenses 2024: $546,187Net Income 2024: -$117,4062024Revenue 2025: $813,790Expenses 2025: $566,604Net Income 2025: $247,1862025

Highlighted filing

2022

Revenue$582,211
Expenses$372,113
Net Income$210,098
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 5, 2023
Return Version
2022v5.0
Gross Receipts
$582,211
Mission and Program Overview

Mission

The object of love your magic, inc. Is to positively impact the perception, value, and treatment of black and brown girls in schools through educational services, community engagement, and programming that centers on self- and community- advocacy, self-love, and sisterhood.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$164,441$276,033▲ $111,592
Prepaid Expenses and Deferred Charges$13,100$3,900▼ $9,200
Total Assets$177,541$279,933▲ $102,392
Liabilities
Deferred Revenue$121,616$13,833▼ $107,783
Accounts Payable and Accrued Expenses-$77-
Total Liabilities$121,616$13,910▼ $107,706
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$266,023-
Net Assets With Donor Restrictions$55,925--
Total Net Assets Fund Balance$55,925$266,023▲ $210,098
Total Liabilities and Net Assets / Fund Balance$177,541$279,933▲ $102,392
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ivanna SolanoExecutive DiFT$132,212$132,212
Janille OlivoTreasurerPT$30,306$30,306

Board Members and Trustees

NameTitle
Alice MitchellDirector
Laura AssadeDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Ivanna SolanoManagement36 MARKET STREET UNIT 4, Lynn, MA 01901$114,878
Revenue and Support

Revenue Composition

Contributions and Grants
$582,211
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$582,211
Change in Net Assets
$210,098
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$216,494
Salaries, Compensation, and Employee Benefits$155,619
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$153,851--$153,851
Fees for Services Other$135,912$1,900-$137,812
Occupancy$11,860--$11,860
Fees for Services Accounting$3,286$3,286-$6,572
All Other Expenses$6,353--$6,353
Office Expenses$5,566$643-$6,209
Travel$4,317--$4,317
Fees for Services Legal$4,000--$4,000
Other Expenses$2,718--$2,718
Advertising$2,658--$2,658
Payroll Taxes$1,768--$1,768
Information Technology$820$820-$1,640
Insurance$348--$348
Total Functional Expenses$365,464$6,649$0$372,113
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
No
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

“All board members were provided a copy of the form 990 before it was filed in order to review for accuracy and completeness.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial information available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Love Your Magic Inc
EIN
87-2061145
Phone
2028306652
Address
36 MARKET STREET UNIT 4, LYNN, MA 01901

Signing Officer

Name
Ivanna Solano
Title
Executive Director
Phone
2028306652
Signed
2023-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ivanna Solano
Formed
2021
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
2
Volunteers
25

Preparer

Firm
Youngclaus & Company Pllc
Address
65 LAFAYETTE RD STE 102, NORTH HAMPTON, NH 03862
Preparer
Christina Hickey CPA
Phone
6039642772
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The object of love your magic, inc. Is to positively impact the perception, value, and treatment of black and brown girls in schools through educational services, community engagement, and programming that centers on self- and community- advocacy, self-love, and sisterhood.”

Form 990, Part IX, Line 11G

“Facilitators & speakers 27,100 0 0 youth stipends 74,030 0 0 grant writer 1,900 1,900 0 consulting 19,280 0 0 camp counselors 5,100 0 0 contract labor 8,050 0 0 payroll processing fees 452 0 0 total 135,912 1,900 0”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE OBJECT OF LOVE YOUR MAGIC, INC. IS TO POSITIVELY IMPACT THE PERCEPTION, VALUE, AND TREATMENT OF BLACK AND BROWN GIRLS IN SCHOOLS THROUGH EDUCATIONAL SERVICES, COMMUNITY ENGAGEMENT, AND PROGRAMMING THAT CENTERS ON SELF- AND COMMUNITY- ADVOCACY, SELF-LOVE, AND SISTERHOOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS WERE PROVIDED A COPY OF THE FORM 990 BEFORE IT WAS FILED IN ORDER TO REVIEW FOR ACCURACY AND COMPLETENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL INFORMATION AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FACILITATORS & SPEAKERS 27,100 0 0 YOUTH STIPENDS 74,030 0 0 GRANT WRITER 1,900 1,900 0 CONSULTING 19,280 0 0 CAMP COUNSELORS 5,100 0 0 CONTRACT LABOR 8,050 0 0 PAYROLL PROCESSING FEES 452 0 0 TOTAL 135,912 1,900 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0IVANNA SOLANO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02028306652
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOVE YOUR MAGIC INC
ReturnHeader/Filer/BusinessNameControlTxt0LOVE
ReturnHeader/Filer/EIN0872061145
ReturnHeader/Filer/PhoneNum02028306652
ReturnHeader/Filer/USAddress/AddressLine1Txt036 MARKET STREET UNIT 4
ReturnHeader/Filer/USAddress/CityNm0LYNN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001901
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0020493931
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0YOUNGCLAUS & COMPANY PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt065 LAFAYETTE RD STE 102
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORTH HAMPTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd003862
ReturnHeader/PreparerPersonGrp/PhoneNum06039642772
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINA HICKEY CPA
ReturnHeader/ReturnTs02023-09-14T13:09:40-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0IVANNA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SOLANO
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

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

Open filing
Assets
$279,933
Liabilities
$13,910
Net assets
$266,023
Revenue
$582,211
Expenses
$372,113
Net income
$210,098
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.54$0.16$3.38$8.14$5.67$2.47
2024Detailed filing. Detailed filing data is available for this year.$1.29$0.38$0.91$4.29$5.46$1.17
2023Detailed filing. Detailed filing data is available for this year.$2.18$0.23$1.94$1.13$1.85$0.72
2022Detailed filing. Detailed filing data is available for this year.$2.80$0.14$2.66$5.82$3.72$2.10
2021Detailed filing. Detailed filing data is available for this year.$1.78$1.22$0.56$1.33$0.77$0.56