Overview
What is Magnolia Heritage Academy Magnolia Heritage Academy?
Magnolia Heritage Academy, located at 17210 Gold Panning Ct, Magnolia, Texas 77355, is a nonprofit organization dedicated to educating and nurturing children in the Magnolia area. During the 2022 school year, they provided education to around 125 to 150 students, offering classes three days a week. With a team of 25 employees, this educational institution is committed to fostering the growth and development of students in grades K-12. Their mission is deeply rooted in teaching and nurturing young minds, contributing positively to the community in Magnolia.
Official website here: www.magnoliaheritageacademy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (74%)
Magnolia Heritage Academy has received a two-star rating from Charity Navigator, indicating that while the organization has some positive attributes, it also has areas that require improvement. The overall score of 74% reflects a need for better accountability and transparency, particularly in the area of financial reporting, where it has not provided necessary financial statements.
One of the organization's strengths is its governance structure, which features a majority of independent board members, ensuring a level of oversight. Additionally, Magnolia Heritage Academy has robust policies in place, including conflict of interest and whistleblower policies, contributing positively to its accountability framework. The organization also demonstrates financial stability, evidenced by a low liabilities-to-assets ratio and a high program expense ratio, indicating that a significant portion of its budget is directed towards its programs.
However, the lack of financial statements is a significant limitation, which negatively impacts the organization's overall score. While some governance policies are well established, the absence of independent board members in its financial oversight could also raise concerns. These factors suggest that while Magnolia Heritage Academy is making strides in certain areas, it must enhance its financial transparency and governance practices to improve its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Magnolia Heritage Academy Magnolia Heritage Academy legitimate?
Magnolia Heritage Academy Magnolia Heritage Academy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magnolia Heritage Academy Magnolia Heritage Academy 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: $47,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $299,300
For more financial information, click here
Official website here: www.magnoliaheritageacademy.com
What is the mission statement of Magnolia Heritage Academy Magnolia Heritage Academy?
Magnolia Heritage Academy's mission is centered around educating and nurturing children in the K-12 grade range. During the 2022 academic year, they offered instruction to approximately 125 to 150 students, providing them with learning opportunities three days a week. The academy's primary goal is to facilitate the growth and development of these students, contributing to their overall educational journey.
Official website here: www.magnoliaheritageacademy.com
Who is the CEO of Magnolia Heritage Academy Magnolia Heritage Academy?
Morgan Honeycutt is the Director of Magnolia Heritage Academy Magnolia Heritage Academy.
Official website here: www.magnoliaheritageacademy.com
What is the revenue of Magnolia Heritage Academy Magnolia Heritage Academy?
Magnolia Heritage Academy Magnolia Heritage Academy's revenue in 2022 was $704,117.
Official website here: www.magnoliaheritageacademy.com
Who are the executives of Magnolia Heritage Academy Magnolia Heritage Academy and what are their salaries?
The average compensation at Magnolia Heritage Academy Magnolia Heritage Academy during 2022 was $13,868. There are 25 employees at Magnolia Heritage Academy Magnolia Heritage Academy.
Here are 3 key members and their salaries:
- Compensation: $47,400
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.magnoliaheritageacademy.com
Where can I find the form 990 for Magnolia Heritage Academy Magnolia Heritage Academy?
Magnolia Heritage Academy Magnolia Heritage Academy's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.magnoliaheritageacademy.com
Learn more at the official website: www.magnoliaheritageacademy.com
Mission Statement of Magnolia Heritage Academy Magnolia Heritage Academy
Magnolia Heritage Academy, a nonprofit organization, is dedicated to the education and instruction of children in the K-12 grade range. Their primary mission is to provide a learning environment that fosters the growth and development of these students in the Magnolia area. During the 2022 academic year, they welcomed between 125 and 150 students, offering instruction for three days a week. The academy's focus is not just on academic success but also on nurturing well-rounded individuals who can contribute positively to their communities.
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Impact
July, 2024
Magnolia Heritage Academy's impact on the Magnolia community is significant. By educating and teaching children in grades K-12, the academy plays a crucial role in shaping the future of its students. Offering classes three days per week during the school year benefits approximately 125 to 150 students annually. This impacts not only the students themselves but also the broader community by providing quality education and fostering academic growth in the local area.
This information is meant to be a general summary of Magnolia Heritage Academy Magnolia Heritage Academy. 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: $7
- Program Service Revenue: $588,882
- Gross Receipts: $704,117
Assets and Liabilities:
- Total Assets: $68,795
- Total Liabilities: $11,803
- Net Assets: $56,992
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition
Revenue
$497,231
Student Fees
Revenue
$79,428
Book Fair
Revenue
$2,553
Field Trips
Revenue
$9,670
Organization Details
Founding Year
2015
Phone
(281) 389-5112Principal Officer
Morgan Honeycutt
Main Address
17210 Gold Panning Ct, Magnolia, TX, 77355
NTEE Category
Code: B20 - Education
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