Magic City Enterprises INC

Tax-deductible

Cheyenne, WY501(c)(3)Since 1971EmploymentEIN 83-0271501

Provide training, employment, transportation, and housing for disabled individuals

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Run by 8 volunteers and 77 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $438K a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$116K
to officers and key staff · 2% of spending
Top officer’s pay lower than 61% of similar orgs
Looks good: pay to officers and key staff is 2% 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
1
named funder · $107K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
43% of total assets
Looks good: liabilities are 43% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.7M
-10% vs prior year
Spent
$5.0M
To programs
70%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$4.7M
FY2024▼ -10%
Revenue by fiscal year
FY2020$6.1M
FY2021$7.3M
FY2022$6.0M
FY2023$6.3M
FY2024$5.2M
FY2024$4.7M
Expenses
$5.0M
FY2024▼ -9%
Expenses by fiscal year
FY2020$6.0M
FY2021$5.9M
FY2022$5.6M
FY2023$5.6M
FY2024$5.5M
FY2024$5.0M
Net assets
$1.5M
FY2024▼ -14%
Net assets by fiscal year
FY2020−$344K
FY2021$976K
FY2022$1.4M
FY2023$2.0M
FY2024$1.8M
FY2024$1.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1985.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $3.5M Management & general 30% · $1.5M

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

Who runs it and what they're paid

9 people listed on the 990; $116K paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Pres
$116,500Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Jeff Gardner’s $116K as CEO/Pres is at the 39th percentile of top reported officer pay among 1245 $1–10M employment 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 · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Jeff Gardner$116,500$104,000$114,000$104,000$104,000$100,000

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

Offers training, jobs, transport, and housing to disabled people.

Provided by the organization

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1 program service account for $3.5M of program spending, described in the organization's own filed words · FY2024.
01

Provide training, employment, transportation and housing for disabled clients.

$3.5Mprogram expense

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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$107K
Grants paid · 1 grant · $300K · 2023–2023

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.7M
Ln 12
Fees for servicesLn 2g$4.1M
Gifts and grantsLn 1h$620K
Investment incomeLn 3$55K
Money outPt IX
$5.0M
Ln 25
Programscol B$3.5M
Managementcol C$1.5M
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$620K
Government grantsLn 1e$221K
Fees for servicesLn 2g$4.1M
Investment incomeLn 3$55K
Gains on assetsLn 7$28K
Total revenueLn 12$4.7M
Assets in detailPt X, end of year
CashLn 1$7K
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$110K
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 577
VolunteersI 68
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$1.4M$1.1M
Land, buildings, equipmentLn 10c$1.4M$1.3M
Total assetsLn 16$3.1M$2.7M
LiabilitiesLn 26$1.3M$1.2M
Net assetsLn 32$1.8M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$114K$114K
Other salaries and wagesLn 7$3.0M$2.4M$563K
Pension plan contributionsLn 8$10K$8K$2K
Other employee benefitsLn 9$206K$168K$39K
Payroll taxesLn 10$227K$185K$42K
Other fees for servicesLn 11g$159K$3K$155K
Office expensesLn 13$7K$221$7K
Information technologyLn 14$74K$37K$37K
OccupancyLn 16$92K$80K$12K
TravelLn 17$8K$5K$2K
Depreciation, depletion and amortizationLn 22$180K$146K$34K
InsuranceLn 23$186K$151K$35K
Other expenses (24a–d)Ln 24$658K$216K$441K
All other expensesLn 24e$68K$46K$21K
Total functional expensesLn 25$5.0M$3.5M$1.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.2M$5.5M−$232K$1.8M 990 PDF
FY2023 $6.3M$5.6M$626K$2.0M 990 PDF
FY2022 $6.0M$5.6M$431K$1.4M 990 PDF
FY2021 $7.3M$5.9M$1.3M$976K 990 PDF
FY2020 $6.1M$6.0M$43K−$344K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $4,743,297 across 8 lines filed
VIII-1d Related organizations$107,323
VIII-1e Government grants$220,604
VIII-1f All other contributions, gifts and grants$291,935
VIII-1h Total contributions, gifts and grants$619,862
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,068,897$4,068,897
VIII-3 Investment incomeExcluded from tax $26,352$26,352
VIII-7 Net gain or loss on sales of assetsExcluded from tax $28,186$28,186
VIII-12 Total revenueRelated to mission $4,068,897 · Excluded from tax $54,538$4,743,297
Part IX · Statement of functional expenses $4,999,350 across 14 lines filed
IX-5 Pay of current officers, directors and key staffManagement $114,000$114,000
IX-7 Other salaries and wagesPrograms $2,447,931 · Management $563,128$3,011,059
IX-8 Pension plan contributionsPrograms $7,873 · Management $1,811$9,684
IX-9 Other employee benefitsPrograms $167,844 · Management $38,611$206,455
IX-10 Payroll taxesPrograms $184,720 · Management $42,493$227,213
IX-11g Other fees for servicesPrograms $3,403 · Management $155,120$158,523
IX-13 Office expensesPrograms $221 · Management $6,758$6,979
IX-14 Information technologyPrograms $36,758 · Management $37,050$73,808
IX-16 OccupancyPrograms $80,453 · Management $11,882$92,335
IX-17 TravelPrograms $5,143 · Management $2,405$7,548
IX-22 Depreciation, depletion and amortizationPrograms $146,389 · Management $33,676$180,065
IX-23 InsurancePrograms $151,272 · Management $34,799$186,071
IX-24 Other expenses (24a–d)Programs $216,371 · Management $441,384$657,755
IX-24e All other expensesPrograms $46,435 · Management $21,420$67,855
IX-25 Total functional expensesPrograms $3,494,813 · Management $1,504,537 · Fundraising $0$4,999,350
Part X · Balance sheet $2,709,413 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $350$7,180
X-2 Savings and temporary cash investmentsStart of year $1,410,790$1,121,589
X-4 Accounts receivableStart of year $177,135$129,952
X-9 Prepaid expenses and deferred chargesStart of year $40,545$31,499
X-10c Land, buildings and equipment, netStart of year $1,384,434$1,309,038
X-15 Other assetsStart of year $87,572$110,155
X-16 Total assetsStart of year $3,100,826$2,709,413
X-17 Accounts payable and accrued expensesStart of year $1,067,565$1,027,489
X-19 Deferred revenueStart of year $107,816$690
X-24 Unsecured notes and loans payableStart of year $35,977$25,236
X-25 Other liabilitiesStart of year $87,572$110,155
X-26 Total liabilitiesStart of year $1,298,930$1,163,570
X-27 Net assets without donor restrictionsStart of year $1,801,896$1,545,843
X-32 Total net assets or fund balancesStart of year $1,801,896$1,545,843
X-33 Total liabilities and net assetsStart of year $3,100,826$2,709,413
Part XI · Reconciliation of net assets $1,545,843 net assets at year end
XI-1 Total revenue$4,743,297
XI-2 Total expenses$4,999,350
XI-3 Revenue less expenses−$256,053
XI-4 Net assets at start of year$1,801,896
XI-10 Net assets at end of year$1,545,843

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

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