Civic Intelligence

Magnolia Fcu Community Development Corporation

EIN 93-2642865 • 501(c)3 • Jackson, MS

Pub. 78 EligibleNTEE S30

Profile

Formed to promote community development by providing loan capital and development resources in economically distressed communities. Such activities of the Corporation may include, but not be limited to: investing in, lending to, or providing technical assistance to businesses and organizations in economically distressed communities; investing in or providing loans to support commercial and residential properties located in economically distressed communities; investing in, lending to, or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote community development in low income or economically distressed communities. The Corporation is an emerging Community Development Financial Institution (CDFI) and intends to become a certified CDFI by the U.S. Department of Treasury.

240 Briarwood DriveJackson, MS 39206-3027

www.magfedcu.org/magnoliacdc

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.00x

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

NTEE S30 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.00x

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

NTEE S30 • <$500k nonprofits • Source year 2024

Net Margin

80th percentile

43%

Higher net margin than 80% of similar nonprofits.

NTEE S30 • <$500k nonprofits • Source year 2024

Top Officer Pay

90th percentile

$54,604

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 54.3% of source-year revenue.

NTEE S30 • <$500k nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$42,973

Up $42,973 from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$42,973

Up $42,973 from 2023

Operations
Liabilities / Revenue53rd percentileNet Margin80th percentile

Revenue

Up

$100,500

Up $100,500 from 2023

Expenses

Up

$57,527

Up $57,527 from 2023

Net Income

Up

$42,973

Up $42,973 from 2023

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60K$40K$20K$0Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023Assets 2024: $42,973Liabilities 2024: $0Net Assets 2024: $42,9732024

Highlighted filing

2024

Assets$42,973
Liabilities$0
Net Assets$42,973
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0Revenue 2023: $0Expenses 2023: $0Net Income 2023: $02023Revenue 2024: $100,500Expenses 2024: $57,527Net Income 2024: $42,9732024

Highlighted filing

2024

Revenue$100,500
Expenses$57,527
Net Income$42,973
Open 2024 Filing

Filings

Most recent year

2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$42,973
Liabilities
$0
Net assets
$42,973
Revenue
$100,500
Expenses
$57,527
Net income
$42,973
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$1.01$0.58$0.43
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 12, 2025
Return Version
2024v5.0
Gross Receipts
$100,500
Mission and Program Overview

Mission

Formed to promote community development by providing loan capital and development resources in economically distressed communities. Such activities of the Corporation may include, but not be limited to: investing in, lending to, or providing technical assistance to businesses and organizations in economically distressed communities; investing in or providing loans to support commercial and residential properties located in economically distressed communities; investing in, lending to, or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote community development in low income or economically distressed communities. The Corporation is an emerging Community Development Financial Institution (CDFI) and intends to become a certified CDFI by the U.S. Department of Treasury.

Program Services

DescriptionGrantsExpenses
Magnolia FCU Community Development Corporation (Magnolia CDC) hired its inaugural Executive Director in July 2024, who since that time, has worked toward building out Magnolia CDC's programs and services, and funding opportunities. Magnolia CDC empowers entrepreneurs and strengthens communities through access to financial capital and development resources. Magnolia CDC achieves this by providing community development lending and services designed to support growth in economically distressed communities. Magnolia CDC has built out its first loan product and technical assistance services in support of this mission and will make its first loans accompanied by support services in 2025.$0$27,302
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jessica FlowersExecutive DirectorFT$49,058$5,546$54,604
Michael WaylettPresident-$0--
Grayland FredericksVice President-$0--
Clara BeaumanSecretary-$0--
Robert MetzgerTreasurer-$0--
Barry McNairIncorporator-$0--
Angela HarrisDirector-$0--
Filing and Contact Details

Filer

Filer Name
Magnolia Fcu Community Development Corporation
EIN
93-2642865
Phone
6018996326
Address
240 Briarwood Drive, Jackson, MS 39206-3027

Signing Officer

Name
Jessica Flowers
Title
Executive Director
Phone
6018996326
Signed
2025-05-12
Supplemental Narrative

Additional Explanations

Form 990-EZ, Part I, Line 16

“Travel and Conferences $2,477 Operating Expenses $70 Bond Insurance $133”

Raw XML Appendix181 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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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5Director
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6Executive Director
IRS990EZ/OperateHospitalInd00
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IRS990EZ/PrimaryExemptPurposeTxt0Formed to promote community development by providing loan capital and development resources in economically distressed communities. Such activities of the Corporation may include, but not be limited to: investing in, lending to, or providing technical assistance to businesses and organizations in economically distressed communities; investing in or providing loans to support commercial and residential properties located in economically distressed communities; investing in, lending to, or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote community development in low income or economically distressed communities. The Corporation is an emerging Community Development Financial Institution (CDFI) and intends to become a certified CDFI by the U.S. Department of Treasury.
IRS990EZ/PrintingPublicationsPostageAmt00
IRS990EZ/ProgramServiceRevenueAmt00
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0Magnolia FCU Community Development Corporation (Magnolia CDC) hired its inaugural Executive Director in July 2024, who since that time, has worked toward building out Magnolia CDC's programs and services, and funding opportunities. Magnolia CDC empowers entrepreneurs and strengthens communities through access to financial capital and development resources. Magnolia CDC achieves this by providing community development lending and services designed to support growth in economically distressed communities. Magnolia CDC has built out its first loan product and technical assistance services in support of this mission and will make its first loans accompanied by support services in 2025.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Travel and Conferences $2,477 Operating Expenses $70 Bond Insurance $133
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990-EZ, Part I, Line 16
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Jessica Flowers
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06018996326
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MAGN
ReturnHeader/Filer/EIN0932642865
ReturnHeader/Filer/PhoneNum06018996326
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ReturnHeader/Filer/USAddress/CityNm0Jackson
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ReturnHeader/Filer/USAddress/ZIPCd0392063027
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ReturnHeader/ReturnTs02025-05-13T16:34:38-07:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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