Magic Years School INC EIN 04-2529275 Form 990 (PDF) Claim this org

Magic Years School INC

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Nurtures young children's confidence, friendships, and love of learning in a small cooperative preschool. For fiscal year 2024 it reported $235K in revenue, $194K in expenses, and $443K in net assets.Pt I

Founded
1973
Type
Public charity (501(c)(3)) · Nonprofit
Location
Manchester, MA
Website
www.magicyearsbythesea.org
Filings
4 on file (2021–2024)
Revenue
$235KFY2024
Expenses
$194K
Net assets
$443K
People
8
Filings
4
Updates
0
More identity details & actions ⌄
EIN  04-2529275 Public charity (501(c)(3)) Manchester, MA Founded 1973
Form 990 (PDF)
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Size
$100K–1M
What they do
Nurtures young children's confidence, friendships, and love of learning in a small cooperative preschool.
Leadership
Wendy Sullivan · Director · $53K
Money in and out
$235K revenue, $194K expenses
Bottom line
85% program efficiency
Where the money goes · FY2024
Total revenue
$235K
Pt VIII · Ln 12
Total expenses
$194K
Pt IX · Ln 25
Net assets
$443K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $41K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.10 Fundraising $0.05
Program efficiency
85%
of spending reaches programs+0.5% vs prior filing year
Operating runway
22.5mo
months of highly liquid reserves at operating expense rate▲ +3% vs prior filing year
Surplus margin
+17%
revenue over expenses, this year▼ -38% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$235K
FY2024▼ -2%
Expenses
$194K
FY2024▲ +13%
Total assets
$443K
FY2024▲ +10%
Total liabilities
$0
FY2024
Total revenue
$235K
Pt VIII · Ln 12
Total expenses
$194K
Pt IX · Ln 25
Net assets
$443K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$41K
Total assetsPt X · Ln 16$443K
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMagic Years School INC
EINHdr · item D04-2529275
Principal addressHdr · item CManchester, MA
WebsiteHdr · item Jwww.magicyearsbythesea.org
Year of formationHdr · item L1973
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFFeb 1976

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$53,230Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Membership
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Immediate Past-President
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2021
Wendy Sullivan$53,230
Wendy Sullivan$42,626
Heather Skuse$23,705

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $165K of program spending, described in the organization's own filed words · FY2024.
01

Magic years is a cooperative preschool providing an environment in which a child can grow in self-confidence, gain friendships and social skills, solve problems and foster and excitment for learning. A school of 20-24 students and 2 teachers.

$165Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$202K · 86%
Contributions & grants$30K · 13%
Investment income$3K · 1%
Program service revenue86%$202K
Contributions & grants13%$30K
Investment income1%$3K
— government grantsLn 1e$25K
Total revenueLn 12$235K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.10 Fundraising $0.05
Program services85%$165K
Management & general10%$19K
Fundraising5%$10K
Total functional expensesLn 25$194K

Balance Sheet

Part X · end of year
CashLn 1$364K
Total assetsLn 16$443K
Total liabilitiesLn 26$0
Total net assetsLn 32$443K
Months of cash on handcomputed22.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $364K · Operating expenses/yr $194K
22.5 months
Where the money goes
Program services
Program services $165K · Total expenses $194K
85%
Management & General
Management & general $19K · Total expenses $194K
10%
Fundraising
Fundraising $10K · Total expenses $194K
5%
Cost to raise $1
Fundraising expense (3-yr avg) $9K · Solicited contributions (3-yr avg) $4K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $30K · Total revenue $235K
13%
Government reliance
Government grants $25K · Total revenue $235K
11%
Earned-income share
Program service revenue $202K · Total revenue $235K
86%
Investment reliance
Investment income $3K · Total revenue $235K
+1%
Program self-sufficiency
Program service revenue $202K · Total expenses $194K
104%
Growth & trend
Revenue growth (YoY)
This year $235K · Prior year $240K
-2%
Revenue CAGR
FY2020 $100K · FY2024 $235K
+24%
Net-asset trend (YoY)
End of year $443K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $235K · Expenses $194K
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $443K
Net-asset ratio
Net assets $443K · Total assets $443K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $443K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Wendy Sullivan · Reported title DIRECTOR · Highest reported compensation $53K · Total expenses $194K
27%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $137K · Total expenses $194K
71%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 10%
Fundraising cost ratio 32%
Revenue growth -2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$175

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$240K revenue · ⤓ 990 PDF
FY2023$245K revenue · ⤓ 990 PDF
FY2022$232K revenue · ⤓ 990 PDF
FY2021$100K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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