Overview
What is Magic Minds Inc?
Magic Minds Inc, located at 7739 Mayfield Avenue, Elkridge, Maryland 21075, is a nonprofit organization dedicated to offering an engaging summer and after-school program. Their mission is to seamlessly blend academic enrichment, improved social skills, and unforgettable experiences for children during these periods. With a team of 51 employees, Magic Minds Inc strives to create a conducive environment that fosters learning and personal growth for its participants.
Official website here: www.m2inc.info
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
Magic Minds Inc has received a rating of 69% from Charity Navigator, indicating a need for improvement in certain areas of its operations. The organization has demonstrated strong financial accountability, with an impressive program expense ratio of 85.49%, meaning that a significant portion of its expenses is directed toward programmatic activities. Additionally, it boasts a fully independent board, which is a positive indicator of governance.
However, there are several critical areas where Magic Minds Inc falls short. The charity lacks essential policies such as a conflict of interest policy and a whistleblower policy, both of which are vital for transparency and accountability. Moreover, the organization has a concerning liabilities to assets ratio of 867.58%, raising questions about its financial stability and long-term sustainability.
In summary, while Magic Minds Inc has strengths in its board composition and program expenditures, it faces significant challenges in governance practices and financial health. Addressing these issues could lead to improved operations and a better overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Magic Minds Inc legitimate?
Magic Minds Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magic Minds Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $262,123
For more financial information, click here
Official website here: www.m2inc.info
What is the mission statement of Magic Minds Inc?
Magic Minds Inc's mission is centered around offering a unique summer and after-care experience. Their primary objective is to combine academic enhancement, improved social skills, and an enjoyable atmosphere for the participants. By doing so, they aim to provide a memorable experience that goes beyond the traditional summer or after-care programs. This holistic approach allows children to grow both academically and socially, ensuring they have a enjoyable time.
Official website here: www.m2inc.info
Who is the CEO of Magic Minds Inc?
Mike Miller is the Cofounder of Magic Minds Inc.
Official website here: www.m2inc.info
What is the revenue of Magic Minds Inc?
Magic Minds Inc's revenue in 2022 was $608,798.
Official website here: www.m2inc.info
Who are the executives of Magic Minds Inc and what are their salaries?
The average compensation at Magic Minds Inc during 2022 was $5,140. There are 51 employees at Magic Minds Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.m2inc.info
Where can I find the form 990 for Magic Minds Inc?
Magic Minds Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.m2inc.info
Learn more at the official website: www.m2inc.info
Mission Statement of Magic Minds Inc
Magic Minds Inc is committed to offering a unique summer and after-care experience for children. Their mission is to blend academic enrichment, improved social skills, and unforgettable fun in their daily programs. By combining these elements, Magic Minds Inc aims to provide a well-rounded experience that benefits the overall development of the children they serve. This approach is designed to create lasting memories and foster growth in a fun and enjoyable setting.
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Impact
July, 2024
Magic Minds Inc's impact is felt through its dedication to providing a daily summer and aftercare experience that merges academic enrichment, enhanced social skills, and unforgettable enjoyment for youth in Elkridge, MD. With a mission focused on nurturing young minds and fostering personal growth, Magic Minds Inc plays a crucial role in supporting the development of the next generation. Through their programs, they not only help children academically but also equip them with the necessary social skills to succeed in life. Their commitment to youth development is truly making a positive impact in the community.
This information is meant to be a general summary of Magic Minds Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4
- Program Service Revenue: $608,794
- Gross Receipts: $608,798
Assets and Liabilities:
- Total Assets: $32,960
- Total Liabilities: $193,039
- Net Assets: -$160,079
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition
Revenue
$608,794
Organization Details
Founding Year
2014
Principal Officer
Mike Miller
Main Address
7739 Mayfield Avenue, Elkridge, MD, 21075
Website
www.m2inc.infoNTEE Category
Code: O20 - Youth development
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