Civic Intelligence

Magic Johnson Foundation

990 • Fiscal year 2023 • EIN 88-3208058

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 28, 2024

Organization ProfileWWW.MAGICJOHNSON.COM/FOUNDATION
9100 Wilshire Blvd 700EBeverly Hills, CA 90212

(310) 592-5592

Siviq Scores

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

Liabilities / Assets

60th percentile

0.13x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

55th percentile

0.12x

Higher debt load relative to revenue than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

95th percentile

73%

Higher net margin than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

100th percentile

3075%

Faster asset growth than 100% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

709%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$949,025

Up $919,137 (+3075%) from 2022

Net Assets

Up

$823,280

Up $793,392 (+2655%) from 2022

Liabilities

Up

$125,745

Up $125,745 from 2022

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin95th percentile

Revenue

Up

$1,092,927

Up $957,827 (+709%) from 2022

Expenses

Up

$299,535

Up $194,323 (+185%) from 2022

Net Income

Up

$793,392

Up $763,504 (+2555%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$1.0M$500K$0Assets 2022: $29,888Liabilities 2022: $0Net Assets 2022: $29,8882022Assets 2023: $949,025Liabilities 2023: $125,745Net Assets 2023: $823,2802023Assets 2024: $703,878Liabilities 2024: $22,500Net Assets 2024: $681,3782024

Highlighted filing

2023

Assets$949,025
Liabilities$125,745
Net Assets$823,280
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2022: $135,100Expenses 2022: $105,212Net Income 2022: $29,8882022Revenue 2023: $1,092,927Expenses 2023: $299,535Net Income 2023: $793,3922023Revenue 2024: $256,949Expenses 2024: $398,851Net Income 2024: -$141,9022024

Highlighted filing

2023

Revenue$1,092,927
Expenses$299,535
Net Income$793,392
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 28, 2024
Return Version
2023v5.1
Gross Receipts
$1,092,927
Mission and Program Overview

Mission

The specific purpose of this corporation is to initiate and support programs that help to serve underserved communities and enhance the lives of underprivileged and needy individuals, and to initiate and support charitable programs that further the health and education of the public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$29,888$924,025▲ $894,137
Rtn Earn Endowment Incm Other Fnds$29,888$823,280▲ $793,392
Accounts Receivable$0$25,000▲ $25,000
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$29,888$949,025▲ $919,137
Liabilities
Accounts Payable and Accrued Expenses$0$98,245▲ $98,245
Grants Payable$0$27,500▲ $27,500
Total Liabilities$0$125,745▲ $125,745
Net Assets / Fund Balance
Total Net Assets Fund Balance$29,888$823,280▲ $793,392
Total Liabilities and Net Assets / Fund Balance$29,888$949,025▲ $919,137
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Earvin Johnson JrBoard Chair, President, Director
Earletha JohnsonSecretary, Director
Kawanna BrownTreasurer, Director
Revenue and Support

Revenue Composition

Contributions and Grants
$1,092,927
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,092,927
Change in Net Assets
$793,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$190,000
Other Expenses$109,535
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$135,000--$135,000
Grants to Domestic Individuals$55,000--$55,000
Advertising-$4,035-$4,035
Insurance-$3,350-$3,350
Fees for Services Accounting-$3,338-$3,338
Fees for Services Legal-$2,728-$2,728
Office Expenses-$977-$977
Other Expenses$95,032$75-$75
Total Functional Expenses$285,032$14,503$0$299,535
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Feed the ChildrenOklahoma, OK501(c)(3Social Efforts$120,000
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, Part VI, Section A, Line 2

“Chairman earvin johnson, jr. Is married to the vice chairperson/secretary earleatha johnson.”

Form 990, Part VI, Section B, Line 11B

“Explanation: the informational return is prepared by outside accountants and is reviewed by the board prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Directors are required to annually disclose affiliations to other similar or related organizations that could create opportunities for conflict of interest.”

Form 990, Part VI, Section C, Line 18

“Explanation: the organization makes the governing documents, conflict of interest policy and financial statements available for public inspection by keeping "public inspection" copies available in the organization's main office.”

Form 990, Part VI, Section C, Line 19

“Explanation: all governing documents, conflict of interest policy,informational returns and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Magic Johnson Foundation
EIN
88-3208058
Phone
3105925592
Address
9100 WILSHIRE BLVD 700E, BEVERLY HILLS, CA 90212

Signing Officer

Name
Earvin Johnson
Title
Board Chair, President, Director
Phone
3102466162
Signed
2024-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Earvin Johnson Jr
Formed
2022
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
280

Preparer

Firm
Singerlewak Llp
Address
10960 WILSHIRE BLVD SUITE 1100, LOS ANGELES, CA 90024
Preparer
Lior Temkin
Phone
3104773924
Raw XML Appendix325 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.

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IRS990/ProgSrvcAccomActy2Grp/Desc0THE EARVIN JOHNSON, SR. SCHOLARSHIP FUND: THE PROGRAM IS DESIGNED TO PROVIDE SUPPORT FOR DESERVING AFRICAN AMERICAN INCOMING FRESHMAN AT MICHIGAN STATE UNIVERSITY WHO EXEMPLIFY A STRONG COMMITMENT FOR ACADEMIC ACHIEVEMENT BUT FACE SOCIO-ECONOMIC CONDITIONS THAT HINDER THEM FROM REACHING THEIR FULL POTENTIAL.
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IRS990/ProgSrvcAccomActy3Grp/Desc0MAGIC OF CHRISTMAS INITIATIVE: THE PROGRAM IS DESIGNED TO PROVIDE SUPPORT, HOPE, AND A SENSE OF COMMUNITY TO THOSE IN NEED. OUR GOAL IS TO SPREAD JOY AND ALLEVIATE SOME OF THESE BURDENS FOR FAMILIES DURING THE HOLIDAYS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHAIRMAN EARVIN JOHNSON, JR. IS MARRIED TO THE VICE CHAIRPERSON/SECRETARY EARLEATHA JOHNSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPLANATION: THE INFORMATIONAL RETURN IS PREPARED BY OUTSIDE ACCOUNTANTS AND IS REVIEWED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS ARE REQUIRED TO ANNUALLY DISCLOSE AFFILIATIONS TO OTHER SIMILAR OR RELATED ORGANIZATIONS THAT COULD CREATE OPPORTUNITIES FOR CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EXPLANATION: THE ORGANIZATION MAKES THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION BY KEEPING "PUBLIC INSPECTION" COPIES AVAILABLE IN THE ORGANIZATION'S MAIN OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EXPLANATION: ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY,INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0949025
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09100 WILSHIRE BLVD 700E
IRS990/USAddress/CityNm0BEVERLY HILLS
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090212
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.MAGICJOHNSON.COM/FOUNDATION
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EARVIN JOHNSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR, PRESIDENT, DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03102466162
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGIC JOHNSON FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MAGI
ReturnHeader/Filer/EIN0883208058
ReturnHeader/Filer/PhoneNum03105925592
ReturnHeader/Filer/USAddress/AddressLine1Txt09100 WILSHIRE BLVD 700E
ReturnHeader/Filer/USAddress/CityNm0BEVERLY HILLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0952302617
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SINGERLEWAK LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010960 WILSHIRE BLVD SUITE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOS ANGELES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd090024
ReturnHeader/PreparerPersonGrp/PhoneNum03104773924
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LIOR TEMKIN
ReturnHeader/ReturnTs02024-11-04T15:21:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$949,025
Liabilities
$125,745
Net assets
$823,280
Revenue
$1,092,927
Expenses
$299,535
Net income
$793,392
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.02$0.68$0.26$0.40$0.14
2023Detailed filing. Detailed filing data is available for this year.$0.95$0.13$0.82$1.09$0.30$0.79
2022Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.14$0.11$0.03