Gifts Of The Magi Foundation
Gifts Of The Magi Foundation shows fluctuating revenue and expenses, with consistent zero officer compensation.
EIN: 202029251 · San Diego, CA · NTEE: T20 · Updated: 2026-03-28
Is Gifts Of The Magi Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gifts Of The Magi Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gifts Of The Magi Foundation
Gifts Of The Magi Foundation (EIN: 202029251) is a nonprofit organization based in San Diego, CA, classified under NTEE code T20. The organization reported total revenue of $11.9M and total assets of $14.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gifts Of The Magi Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gifts Of The Magi Foundation is a large nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $91K |
| Total Expenses | $175K |
| Surplus / Deficit | $-83,602 |
| Total Assets | $3.0M |
| Total Liabilities | $1 |
| Net Assets | $3.0M |
| Operating Margin | -91.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 209.1 months |
Financial Health Grade: B
In 2023, Gifts Of The Magi Foundation reported a deficit of $84K with expenses exceeding revenue, holds 209.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Gifts Of The Magi Foundation's revenue has declined at a compound annual growth rate (CAGR) of -5.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -58.5% | -10.4% | -3.1% |
| 2022 | -82.1% | +165.6% | +1.3% |
| 2021 | +1634.9% | -80.0% | +59.1% |
| 2020 | -71.3% | +22.0% | -13.2% |
| 2019 | +434.1% | +70.7% | +12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gifts Of The Magi Foundation with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Gifts Of The Magi Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $84K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is highly unusual for an organization with assets exceeding $3 million and annual revenues often in the hundreds of thousands. This suggests either a volunteer-led executive team or compensation is being reported under other expense categories, warranting further investigation for full transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Gifts Of The Magi Foundation's IRS 990 filings:
- Inconsistent financial performance with significant revenue and expense fluctuations (e.g., 2021 revenue surge vs. 2023 deficit).
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data makes spending efficiency difficult to fully assess.
- Consistent 0% officer compensation is unusual for an organization of this scale and may indicate a lack of transparency in reporting executive costs.
Strengths
The following positive indicators were identified for Gifts Of The Magi Foundation:
- Consistently low reported liabilities, often $0 or $1, indicating strong debt management.
- Assets have shown growth over time, from $2.3 million in 2011 to over $3 million in 2023, suggesting some financial stability.
- The organization has a long filing history (10 filings), indicating sustained operation.
Frequently Asked Questions about Gifts Of The Magi Foundation
Is Gifts Of The Magi Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Gifts Of The Magi Foundation (EIN: 202029251) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Gifts Of The Magi Foundation spend its money?
Gifts Of The Magi Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gifts Of The Magi Foundation tax-deductible?
Gifts Of The Magi Foundation is registered as a tax-exempt nonprofit (EIN: 202029251). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size and suggests either a fully volunteer executive team or that compensation is categorized differently, which could impact transparency.
What caused the significant revenue spike in 2021 to $1,226,131?
The substantial increase in revenue in 2021 to over $1.2 million, compared to typical revenues in the tens or hundreds of thousands, warrants further inquiry to understand the source and sustainability of this funding.
How does the organization manage its expenses during periods of revenue decline, such as in 2023?
In 2023, expenses ($174,679) significantly exceeded revenue ($91,077). Understanding the strategy for managing expenses during such deficits is crucial for long-term financial health.
What are the specific program activities funded by the organization?
Without a detailed functional expense breakdown, it's difficult to ascertain the specific programs and their impact, which is key for assessing program efficiency and mission alignment.
Filing History
IRS 990 filing history for Gifts Of The Magi Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gifts Of The Magi Foundation's revenue has declined by 50.7%, moving from $185K to $91K. Total assets increased by 31.2% over the same period, from $2.3M to $3.0M. Total functional expenses fell by 2.5%, from $179K to $175K. In its most recent filing year (2023), Gifts Of The Magi Foundation reported a deficit of $84K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $91K | $175K | $3.0M | $1 | — | — |
| 2022 | $220K | $195K | $3.1M | $15K | — | View 990 |
| 2021 | $1.2M | $73K | $3.1M | $1 | — | View 990 |
| 2020 | $71K | $368K | $2.0M | $1 | — | View 990 |
| 2019 | $247K | $301K | $2.2M | $1 | — | — |
| 2015 | $46K | $176K | $2.0M | $1 | — | View 990 |
| 2014 | $104K | $220K | $2.1M | $0 | — | View 990 |
| 2013 | $98K | $188K | $2.2M | $0 | — | View 990 |
| 2012 | $201K | $190K | $2.3M | $0 | — | View 990 |
| 2011 | $185K | $179K | $2.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $91K, expenses of $175K, and assets of $3.0M (revenue -58.5% year-over-year).
- 2022: Revenue of $220K, expenses of $195K, and assets of $3.1M (revenue -82.1% year-over-year).
- 2021: Revenue of $1.2M, expenses of $73K, and assets of $3.1M (revenue +1634.9% year-over-year).
- 2020: Revenue of $71K, expenses of $368K, and assets of $2.0M (revenue -71.3% year-over-year).
- 2019: Revenue of $247K, expenses of $301K, and assets of $2.2M (revenue +434.1% year-over-year).
- 2015: Revenue of $46K, expenses of $176K, and assets of $2.0M (revenue -55.7% year-over-year).
- 2014: Revenue of $104K, expenses of $220K, and assets of $2.1M (revenue +6.6% year-over-year).
- 2013: Revenue of $98K, expenses of $188K, and assets of $2.2M (revenue -51.4% year-over-year).
- 2012: Revenue of $201K, expenses of $190K, and assets of $2.3M (revenue +9.1% year-over-year).
- 2011: Revenue of $185K, expenses of $179K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gifts Of The Magi Foundation:
Data Sources and Methodology
This transparency report for Gifts Of The Magi Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.