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Magic Bullet Fund INC FY2022 filing

Yorktown Heights, NYUnknown exempt organizationEIN 82-2082952Revenue $90K in FY2022

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

68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2022 · 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
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$17K
14% of total assets
Looks good: liabilities are 14% 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
$90K
-16% vs prior year
Spent
$151K
To programs
68%
Net assets
$106K
By yearFY2020–FY2024
Revenue
$90K
FY2022▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$91K
FY2021$108K
FY2022$90K
FY2023$99K
FY2024$34K
Expenses
$151K
FY2022▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$124K
FY2022$151K
FY2023$140K
FY2024$98K
Net assets
$106K
FY2022▼ -40%
Tap a bar for its year
Net assets by fiscal year
FY2020$181K
FY2021$177K
FY2022$106K
FY2023$65K
FY2024$0

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $102K Management & general 25% · $38K Fundraising 7% · $10K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Laurie Kaplan
President
$0Pt VII · Sec A
Susan Neal
Treasurer
$0Pt VII · Sec A
Dawn Gerard
Secretary
$0Pt VII · Sec A
Dr Bruce Silverman
Medical Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Nicole Murray
Chairperson
$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 · $102K · in their own filed words · FY2022
01

Magic Bullet Fund paid for cancer treatments for 56 dogs and 2 cats in 2022. 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.

$102Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$90K
Ln 12
Gifts and grantsLn 1h$87K
Other incomeLn 4–11$3K
Investment incomeLn 3$50
Money outPt IX
$151K
Ln 25
Programscol B$102K
Managementcol C$38K
Fundraisingcol D$10K
Owns and owesPt X
$106K
net assets · Ln 32
Cash and savingsLn 1–2$123K
Total assetsLn 16$123K
LiabilitiesLn 26$17K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$87K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$50
Other incomeLn 4–11$3K
Total revenueLn 12$90K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$78K
Cash and savings togetherLn 1–2$123K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$123K
LiabilitiesLn 26$17K
Net assetsLn 32$106K
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 FY22End FY22
Cash and savingsLn 1–2$177K$123K
InvestmentsLn 11–13$0
Total assetsLn 16$177K$123K
LiabilitiesLn 26$0$17K
Net assetsLn 32$177K$106K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$29K$29K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$1K$1K
Information technologyLn 14$3K$3K
OccupancyLn 16$5K$5K
InterestLn 20$76$76
Other expenses (24a–d)Ln 24$102K$102K$0$0
Total functional expensesLn 25$151K$102K$38K$10K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $34K$98K−$64K$0 990 PDF
FY2023 $99K$140K−$41K$65K 990 PDF
FY2022 Viewing $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 FY2022 990 (6 parts)
Part I · Summary $90,072 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $105,494$87,022
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,084$50
I-11 Other revenuePrior year $0$3,000
I-12 Total revenuePrior year $107,578$90,072
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 $123,513$150,646
I-18 Total expensesPrior year $123,513$150,646
I-19 Revenue less expensesPrior year −$15,935−$60,574
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $90,072 across 11 lines filed
Lines not itemized here account for $3,000 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$87,022
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$87,022
VIII-3 Investment incomeRelated to mission $50 · Unrelated business $0 · Excluded from tax $0$50
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $50 · Unrelated business $3,000 · Excluded from tax $0$90,072
Part IX · Statement of functional expenses $150,646 across 7 lines filed
IX-11a Management feesManagement $29,250$29,250
IX-12 Advertising and promotionFundraising $9,988$9,988
IX-13 Office expensesManagement $1,287$1,287
IX-14 Information technologyManagement $3,067$3,067
IX-16 OccupancyManagement $4,653$4,653
IX-20 InterestManagement $76$76
IX-24 Other expenses (24a–d)Programs $102,325 · Management $0 · Fundraising $0$102,325
IX-25 Total functional expensesPrograms $102,325 · Management $38,333 · Fundraising $9,988$150,646
Part X · Balance sheet $123,268 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $64,450$45,323
X-2 Savings and temporary cash investmentsStart of year $112,895$77,945
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $177,345$123,268
X-17 Accounts payable and accrued expenses$16,972
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 $0$16,972
X-27 Net assets without donor restrictionsStart of year $177,345$106,296
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $177,345$106,296
X-33 Total liabilities and net assetsStart of year $177,345$123,268
Part XI · Reconciliation of net assets $106,296 net assets at year end
XI-1 Total revenue$90,072
XI-2 Total expenses$150,646
XI-3 Revenue less expenses−$60,574
XI-4 Net assets at start of year$177,345
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−$10,475
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$106,296

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

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