Overview
What is Magic Basketball Club Inc?
Magic Basketball Club Inc, based in Austin, Texas, is a nonprofit organization that has considerably grown in 2022, enabling more children from the local area to participate in its programs. The club's primary mission is to foster college and career readiness along with promoting positive mental and physical health habits among children, achieved through their passion for basketball. With a modest workforce of two individuals, Magic Basketball Club Inc has successfully extended its reach to the Austin community, providing a nurturing environment for young participants' personal and athletic development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Magic Basketball Club Inc has earned a 79% score, indicating a solid performance in accountability and finance. The organization showcases a high level of transparency and governance, with 100% of its board members being independent and a strong conflict of interest policy in place. Their impressive program expense ratio of 98.10% suggests that a significant portion of their resources is directed towards fulfilling their mission.
The organization also maintains a favorable liabilities to assets ratio of 0.83%, demonstrating financial stability. Additionally, they have established policies for whistleblowing and document retention, which contribute to their overall accountability. However, while the ratings reflect strong governance and financial management, potential donors may want to further explore the impact and effectiveness of the programs supported by the club.
This AI summary has been generated from information found on Charity Navigator.
Is Magic Basketball Club Inc legitimate?
Magic Basketball Club Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magic Basketball Club 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: $45,050
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Magic Basketball Club Inc?
The Magic Basketball Club Inc. is dedicated to promoting college and career readiness and fostering positive mental and physical health habits in children. They accomplish this objective by engaging the children in the sport of basketball. The club's mission is to provide a platform where children can develop essential life skills beyond the basketball court. In 2022, the club broadened its reach and allowed more children from Austin, Texas, and its surrounding areas to participate in its programs.
Who is the CEO of Magic Basketball Club Inc?
Eddie Martinez is the Treasurer of Magic Basketball Club Inc. The CEO's salary of Magic Basketball Club Inc is $22,150 and their total compensation is $22,150.
What is the revenue of Magic Basketball Club Inc?
Magic Basketball Club Inc's revenue in 2022 was $509,307.
Who are the executives of Magic Basketball Club Inc and what are their salaries?
The average compensation at Magic Basketball Club Inc during 2022 was $22,525. There are 2 employees and 5 volunteers at Magic Basketball Club Inc.
Here are 4 key members and their salaries (Magic Basketball Club Inc's CEO's salary is $22,150 and their total compensation is $22,150):
- Compensation: $22,900
- Related: $0
- Other: $0
- Compensation: $22,150
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Magic Basketball Club Inc?
Magic Basketball Club Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Magic Basketball Club Inc
Magic Basketball Club Inc, a nonprofit organization, is dedicated to fostering college and career readiness and encouraging positive mental and physical health habits in children. They achieve this goal through the medium of basketball. By participating in this popular sport, children under the club's care are not only honing their physical skills but also learning valuable life lessons. The club's mission is to provide a nurturing environment where children can grow and thrive, both on and off the court. In 2022, Magic Basketball Club Inc expanded its reach, allowing more children from the Austin, Texas, and surrounding areas to join its programs and reap the benefits of its mission.
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Impact
July, 2024
Magic Basketball Club Inc has a significant impact on the youth in Austin, Texas and the surrounding areas by promoting college and career readiness, as well as positive mental and physical health habits through basketball. By expanding its programs in 2022, the club has been able to reach and positively influence a larger number of children. This not only benefits the individual participants but also contributes to the overall well-being and development of the community.
This information is meant to be a general summary of Magic Basketball Club 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.
- Gross Receipts: $509,307
Assets and Liabilities:
- Total Assets: $125,030
- Total Liabilities: $1,040
- Net Assets: $123,990
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Organization Details
Founding Year
2005
Principal Officer
Eddie Martinez
Main Address
PO BOX 170654, Austin, TX, 78717
NTEE Category
Code: N62 - Recreation
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