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Magic Bullet Fund INC

Yorktown Heights, NYUnknown exempt organizationEIN 82-2082952Revenue $34K in FY2024

On file with the IRSthemagicbulletfund.orgPo Box 149 · Yorktown Heights, NY

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The fund provides financial assistance to people who have a cat or dog with cancer and cannot afford to pay for cancer treatment

77¢ of each $1 spent went to programs.
Run by 28 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
0 of 4
filings with a surplus
Average deficit $45K a year · 55% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$34K
-66% vs prior year
Spent
$98K
To programs
77%
Net assets
$0
By yearFY2020–FY2024
Revenue
$34K
FY2024▼ -66%
Tap a bar for its year
Revenue by fiscal year
FY2020$91K
FY2021$108K
FY2022$90K
FY2023$99K
FY2024$34K
Expenses
$98K
FY2024▼ -30%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$124K
FY2022$151K
FY2023$140K
FY2024$98K
Net assets
$0
FY2024▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$181K
FY2021$177K
FY2022$106K
FY2023$65K
FY2024$0

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $75K Management & general 22% · $21K Fundraising 2% · $2K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Dr Bruce Silverman
Medical Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Laurie Kaplan
President
$0Pt VII · Sec A
Susan Neal
Treasurer
$0Pt VII · Sec A
Dawn Gerard
Secretary
$0Pt VII · Sec A
See Magic Bullet Fund INC 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 15aYes

Programs and updates

Helps pet owners pay for their cat or dog's cancer treatment.

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Provided by the organization

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1 program · $75K · in their own filed words · FY2024
01

Magic Bullet Fund paid for cancer treatments for dogs and cats in 2024. The owners of these pets were unable to pay for treatments and the pets would not have been able to receive treatment without our assistance.

$75Kprogram 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 · FY2023
Bank of America Charitable Foundation INCFY2023$1K
Amazonsmile FoundationFY2023$181
Total grants receivedfrom 2 funders$1K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$34K
Ln 12
Gifts and grantsLn 1h$33K
Other incomeLn 4–11$1K
Investment incomeLn 3$18
Money outPt IX
$98K
Ln 25
Programscol B$75K
Managementcol C$21K
Fundraisingcol D$2K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$33K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$18
Other incomeLn 4–11$1K
Total revenueLn 12$34K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 628
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$85K$0
InvestmentsLn 11–13$0$0
Total assetsLn 16$85K$0
LiabilitiesLn 26$12K$0
Net assetsLn 32$72K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$20K$20K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$43$43
Information technologyLn 14$1K$1K
Other expenses (24a–d)Ln 24$75K$75K$71$0
Total functional expensesLn 25$98K$75K$21K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $34K$98K−$64K$0 990 PDF
FY2023 $99K$140K−$41K$65K 990 PDF
FY2022 $90K$151K−$61K$106K 990 PDF
FY2021 $108K$124K−$16K$177K 990 PDF
FY2020 $91K$181K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $34,012 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $99,597$32,653
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,265$18
I-11 Other revenuePrior year $0$1,341
I-12 Total revenuePrior year $101,862$34,012
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $140,279$97,513
I-18 Total expensesPrior year $140,279$97,513
I-19 Revenue less expensesPrior year −$38,417−$63,501
Part VI · Governance no flags
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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 $34,012 across 11 lines filed
Lines not itemized here account for $1,341 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$32,653
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$32,653
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $18 · Excluded from tax $0$18
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $1,359 · Excluded from tax $0$34,012
Part IX · Statement of functional expenses $97,513 across 5 lines filed
IX-11a Management feesManagement $19,500$19,500
IX-12 Advertising and promotionFundraising $1,763$1,763
IX-13 Office expensesManagement $43$43
IX-14 Information technologyManagement $1,449$1,449
IX-24 Other expenses (24a–d)Programs $74,687 · Management $71 · Fundraising $0$74,758
IX-25 Total functional expensesPrograms $74,687 · Management $21,063 · Fundraising $1,763$97,513
Part X · Balance sheet $0 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $46,525$0
X-2 Savings and temporary cash investmentsStart of year $38,020$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $84,545$0
X-17 Accounts payable and accrued expensesStart of year $12,056$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $12,056$0
X-27 Net assets without donor restrictionsStart of year $72,489$0
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $72,489$0
X-33 Total liabilities and net assetsStart of year $84,545$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$34,012
XI-2 Total expenses$97,513
XI-3 Revenue less expenses−$63,501
XI-4 Net assets at start of year$72,489
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$4,610
XI-9 Other changes in net assets−$13,598
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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