Magfest INC FY2021 filing

Tax-deductible

Beltsville, MD501(c)(3)Arts & CultureEIN 46-1086258Revenue $393K in FY2021

On file with the IRSmagfest.org10820 Hanna St Ste C, 20705-2134 · Beltsville, MDTax-exempt since Jun 2015Publicly supported — 509(a)(2)

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To educate the public about video game music, art, and history; to promote public appreciation of video game music, art, and history to undertake other charitable projects, programs, and activities not inconsistent with section 501(c)(3) of the irs code and applicable state law.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$113K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $83K a year · 7% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$113K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$393K
Spent
$896K
To programs
78%
Net assets
$365K
By yearFY2021–FY2024
Revenue
$393K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$393K
FY2022$133K
FY2024$3.1M
Expenses
$896K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$896K
FY2022$348K
FY2024$2.6M
Net assets
$365K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$365K
FY2022$1.9M
FY2024$3.0M

From the FY2021 Form 990 (year ending February 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $701K Management & general 22% · $195K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $113K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Interim Executive Director
$64,297Pt VII · Sec A
Executive Director
$48,560Pt VII · Sec A
President, Former
$0Pt VII · Sec A
Secretary, Former
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer, Former
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Debra Rose Lenik’s $82K as Executive Director is at the 19th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2022FY2021
Debra Rose Lenik$81,807$10,000$64,297
Paul Birtel——$48,560

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates and promotes appreciation for video game music, art, and history.

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Provided by the organization

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2 programs · $701K · in their own filed words · FY2020
01

The music and gaming festival, is magfest inc's flagship event, occurring annually each winter. Magfest's library of historic gaming content contains console, arcade, and non-electronic exhibits dating from 1971 to the present. The magfest event gives its attendees the opportunity to experience gaming history.

$680Kprogram expense
02

Magfest, inc holds small events in various U.S. Cities to promote the magfest brand, and to also bring our mission content to people who cannot normally travel to our flagship winter event.

$21Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$1K
Grants paid · 1 grant · $47K · 2023–2023
Child's PlayWA · FY2023$47,284

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$393K
Ln 12
Gifts and grantsLn 1h$204K
Fees for servicesLn 2g$187K
Other incomeLn 4–11$3K
Money outPt IX
$896K
Ln 25
Programscol B$701K
Managementcol C$195K
Owns and owesPt X
$365K
net assets · Ln 32
Cash and savingsLn 1–2$358K
Total assetsLn 16$371K
LiabilitiesLn 26$6K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$204K
Government grantsLn 1e$78K
Fundraising eventsLn 1c$111K
Fees for servicesLn 2g$187K
Investment incomeLn 3$79
Other incomeLn 4–11$3K
Total revenueLn 12$393K
Assets in detailPt X, end of year
CashLn 1$358K
Cash and savings togetherLn 1–2$358K
Land, buildings, equipmentLn 10c$7K
Other assetsLn 15$7K
Total assetsLn 16$371K
LiabilitiesLn 26$6K
Net assetsLn 32$365K
OperationsPt I, VI
EmployeesI 57
VolunteersI 61,700
Fiscal year endsHeaderFebruary
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$856K$358K
Land, buildings, equipmentLn 10c$13K$7K
Total assetsLn 16$876K$371K
LiabilitiesLn 26$8K$6K
Net assetsLn 32$868K$365K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$113K$113K
Other salaries and wagesLn 7$290K$269K$22K
Other employee benefitsLn 9$60K$56K$4K
Payroll taxesLn 10$32K$30K$2K
Legal feesLn 11b$84K$84K
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$194$194
Office expensesLn 13$6K$6K
OccupancyLn 16$101K$74K$27K
TravelLn 17$4K$4K
Conferences, conventions and meetingsLn 19$127K$127K
Depreciation, depletion and amortizationLn 22$6K$2K$4K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$38K$15K$22K
Total functional expensesLn 25$896K$701K$195K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.1M$2.6M$467K$3.0M 990 PDF
FY2023 Not on file
FY2022 $133K$348K−$215K$1.9M 990 PDF
FY2021 Viewing $393K$896K−$503K$365K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $393,233 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,024$203,774
I-9 Program service revenuePrior year $2,167,236$186,593
I-10 Investment incomePrior year $140$79
I-11 Other revenuePrior year $70,629$2,787
I-12 Total revenuePrior year $2,287,029$393,233
I-13 Grants and similar amounts paidPrior year $41,182$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $391,238$495,651
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,687,355$400,268
I-18 Total expensesPrior year $2,119,775$895,919
I-19 Revenue less expensesPrior year $167,254−$502,686
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $393,233 across 8 lines filed
Lines not itemized here account for $2,787 of total revenue; see the IRS return.
VIII-1c Fundraising events$111,121
VIII-1e Government grants$78,210
VIII-1f All other contributions, gifts and grants$14,443
VIII-1h Total contributions, gifts and grants$203,774
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $186,593$186,593
VIII-3 Investment incomeRelated to mission $79$79
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $189,459 · Unrelated business $0 · Excluded from tax $0$393,233
Part IX · Statement of functional expenses $895,919 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $112,857$112,857
IX-7 Other salaries and wagesPrograms $268,543 · Management $21,686$290,229
IX-9 Other employee benefitsPrograms $55,648 · Management $4,492$60,140
IX-10 Payroll taxesPrograms $30,002 · Management $2,423$32,425
IX-11b Legal feesManagement $84,342$84,342
IX-11c Accounting feesManagement $11,314$11,314
IX-11g Other fees for servicesPrograms $11,734$11,734
IX-12 Advertising and promotionPrograms $194$194
IX-13 Office expensesManagement $5,601$5,601
IX-16 OccupancyPrograms $74,278 · Management $26,660$100,938
IX-17 TravelPrograms $3,918$3,918
IX-19 Conferences, conventions and meetingsPrograms $126,905$126,905
IX-22 Depreciation, depletion and amortizationPrograms $1,903 · Management $4,412$6,315
IX-23 InsuranceManagement $11,495$11,495
IX-24 Other expenses (24a–d)Programs $15,240 · Management $22,272$37,512
IX-25 Total functional expensesPrograms $701,222 · Management $194,697 · Fundraising $0$895,919
Part X · Balance sheet $371,159 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $856,062$357,601
X-10c Land, buildings and equipment, netStart of year $13,178$6,863
X-15 Other assetsStart of year $6,695$6,695
X-16 Total assetsStart of year $875,935$371,159
X-17 Accounts payable and accrued expensesStart of year $7,874$5,784
X-26 Total liabilitiesStart of year $7,874$5,784
X-32 Total net assets or fund balancesStart of year $868,061$365,375
X-33 Total liabilities and net assetsStart of year $875,935$371,159
Part XI · Reconciliation of net assets $365,375 net assets at year end
XI-1 Total revenue$393,233
XI-2 Total expenses$895,919
XI-3 Revenue less expenses−$502,686
XI-4 Net assets at start of year$868,061
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$365,375

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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