Magellan Charter School FY2022 filing

Tax-deductible

Raleigh, NC501(c)(3)EducationEIN 56-2019202Revenue $4.6M in FY2022

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To provide a challenging intellectual journey for highly motivated students and establish a model academic community

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$259K 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

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $20K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$259K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $115K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$427K
39% of total assets
Looks good: liabilities are 39% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.6M
+11% vs prior year
Spent
$4.7M
To programs
75%
Net assets
$666K
By yearFY2020–FY2025
Revenue
$4.6M
FY2022▲ +11%
Revenue by fiscal year
FY2020$4.2M
FY2021$4.1M
FY2022$4.6M
FY2023$4.6M
FY2024$4.9M
FY2025$5.1M
Expenses
$4.7M
FY2022▲ +12%
Expenses by fiscal year
FY2020$3.9M
FY2021$4.1M
FY2022$4.7M
FY2023$4.6M
FY2024$4.8M
FY2025$5.5M
Net assets
$666K
FY2022▼ -11%
Net assets by fiscal year
FY2020$769K
FY2021$751K
FY2022$666K
FY2023$716K
FY2024$791K
FY2025$394K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1997.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $3.5M Management & general 25% · $1.2M

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

8 people listed on the 990; $259K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Controller (non-Voting)
$104,835Pt VII · Sec A
Asst Administrator (non-Voting)
$95,296Pt VII · Sec A
Head of School (non-Voting)
$58,510Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jessica O'Donovan’s $153K as Head of School (non-Voting is at the 66th percentile of top reported officer pay among 3395 $1–10M education 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jessica O'Donovan$153,109$144,000$138,050$58,510——
Mary Griffin————$117,425$116,131
Gina Riggins——$95,452$104,835$104,909$103,846
Sheryl Regan$86,545$90,295$88,966$95,296——

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.

See Magellan Charter School executive salaries →

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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 15aNo

Programs and updates

Offers challenging intellectual journeys and a model academic community for motivated students.

Provided by the organization

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1 program · $3.5M · in their own filed words · FY2021
01

Providing quality public education as a charter school

$3.5Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$4.6M
Ln 12
Gifts and grantsLn 1h$4.4M
Other incomeLn 4–11$132K
Investment incomeLn 3$3K
Money outPt IX
$4.7M
Ln 25
Programscol B$3.5M
Managementcol C$1.2M
Owns and owesPt X
$666K
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.1M
LiabilitiesLn 26$427K
PeoplePt VI, VII
8
listed · VII A
PaidVII A3
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.4M
Government grantsLn 1e$4.3M
Investment incomeLn 3$3K
Other incomeLn 4–11$132K
Total revenueLn 12$4.6M
Assets in detailPt X, end of year
CashLn 1$407K
SavingsLn 2$630K
Cash and savings togetherLn 1–2$1.0M
Land, buildings, equipmentLn 10c$25K
Total assetsLn 16$1.1M
LiabilitiesLn 26$427K
Net assetsLn 32$666K
OperationsPt I, VI
EmployeesI 565
VolunteersI 6100
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.1M$1.0M
Land, buildings, equipmentLn 10c$41K$25K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$393K$427K
Net assetsLn 32$751K$666K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$229K$136K$93K
Other salaries and wagesLn 7$2.7M$2.2M$552K
Pension plan contributionsLn 8$133K$106K$27K
Other employee benefitsLn 9$254K$212K$41K
Payroll taxesLn 10$225K$177K$48K
Legal feesLn 11b$147K$147K
Accounting feesLn 11c$18K$18K
Office expensesLn 13$3K$3K
OccupancyLn 16$264K$238K$26K
Depreciation, depletion and amortizationLn 22$16K$11K$5K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$413K$338K$75K
All other expensesLn 24e$196K$94K$101K
Total functional expensesLn 25$4.7M$3.5M$1.2M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.1M$5.5M−$397K$394K 990 PDF
FY2024 $4.9M$4.8M$75K$791K 990 PDF
FY2023 $4.6M$4.6M$50K$716K 990 PDF
FY2022 Viewing $4.6M$4.7M−$85K$666K 990 PDF
FY2021 $4.1M$4.1M−$18K$751K 990 PDF
FY2020 $4.2M$3.9M$253K$769K 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 FY2022 990 (6 parts)
Part I · Summary $4,568,279 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,119,701$4,433,594
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,957$2,886
I-11 Other revenuePrior year $0$131,799
I-12 Total revenuePrior year $4,122,658$4,568,279
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,216,376$3,564,691
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $924,129$1,088,432
I-18 Total expensesPrior year $4,140,505$4,653,123
I-19 Revenue less expensesPrior year −$17,847−$84,844
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $4,568,279 across 6 lines filed
VIII-1e Government grants$4,344,348
VIII-1f All other contributions, gifts and grants$89,246
VIII-1h Total contributions, gifts and grants$4,433,594
VIII-3 Investment incomeExcluded from tax $2,886$2,886
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $131,799$131,799
VIII-12 Total revenueRelated to mission $131,799 · Unrelated business $0 · Excluded from tax $2,886$4,568,279
Part IX · Statement of functional expenses $4,653,123 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $136,091 · Management $92,746$228,837
IX-7 Other salaries and wagesPrograms $2,172,151 · Management $552,028$2,724,179
IX-8 Pension plan contributionsPrograms $105,754 · Management $27,463$133,217
IX-9 Other employee benefitsPrograms $212,488 · Management $41,054$253,542
IX-10 Payroll taxesPrograms $177,115 · Management $47,801$224,916
IX-11b Legal feesManagement $146,931$146,931
IX-11c Accounting feesManagement $18,020$18,020
IX-13 Office expensesManagement $2,522$2,522
IX-16 OccupancyPrograms $237,643 · Management $26,405$264,048
IX-22 Depreciation, depletion and amortizationPrograms $11,444 · Management $4,904$16,348
IX-23 InsuranceManagement $31,587$31,587
IX-24 Other expenses (24a–d)Programs $337,951 · Management $75,347$413,298
IX-24e All other expensesPrograms $94,496 · Management $101,182$195,678
IX-25 Total functional expensesPrograms $3,485,133 · Management $1,167,990 · Fundraising $0$4,653,123
Part X · Balance sheet $1,092,499 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $342,554$407,067
X-2 Savings and temporary cash investmentsStart of year $760,394$629,719
X-4 Accounts receivable$31,190
X-10c Land, buildings and equipment, netStart of year $40,871$24,523
X-16 Total assetsStart of year $1,143,819$1,092,499
X-17 Accounts payable and accrued expensesStart of year $393,090$426,614
X-26 Total liabilitiesStart of year $393,090$426,614
X-32 Total net assets or fund balancesStart of year $750,729$665,885
X-33 Total liabilities and net assetsStart of year $1,143,819$1,092,499
Part XI · Reconciliation of net assets $665,885 net assets at year end
XI-1 Total revenue$4,568,279
XI-2 Total expenses$4,653,123
XI-3 Revenue less expenses−$84,844
XI-4 Net assets at start of year$750,729
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$665,885

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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