Magellan Education Foundation Inc
Magellan Education Foundation maintains substantial assets and reports no officer compensation over a decade.
EIN: 203971056 · Raleigh, NC · NTEE: B11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $475K |
| Total Expenses | $331K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $2.9M |
| Transparency Score | 88/100 |
Is Magellan Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Magellan Education Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Magellan Education Foundation Inc
Magellan Education Foundation Inc (EIN: 203971056) is a nonprofit organization based in Raleigh, NC, classified under NTEE code B11. The organization reported total revenue of $475K and total assets of $7.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Magellan Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Magellan Education Foundation Inc is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $365K |
| Total Expenses | $331K |
| Surplus / Deficit | +$34K |
| Total Assets | $7.5M |
| Total Liabilities | $4.6M |
| Net Assets | $2.9M |
| Operating Margin | 9.3% |
| Debt-to-Asset Ratio | 60.9% |
| Months of Reserves | 270.8 months |
Financial Health Grade: A
In 2023, Magellan Education Foundation Inc reported a surplus of $34K with revenue exceeding expenses, holds 270.8 months of operating reserves (strong position), has a debt-to-asset ratio of 60.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Magellan Education Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.8% | -8.4% | +5.2% |
| 2022 | -24.5% | +10.9% | -1.8% |
| 2021 | -7.8% | -0.1% | -0.1% |
| 2020 | +1.0% | +25.5% | +34.7% |
| 2019 | +12.7% | -9.8% | -9.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Magellan Education Foundation Inc with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Magellan Education Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $34K, with revenue exceeding expenses.
- Debt-to-asset ratio: 60.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either unpaid or compensated through other means not categorized as officer compensation, which is highly unusual for an organization with assets exceeding $7 million.
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 Magellan Education Foundation Inc's IRS 990 filings:
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data makes precise efficiency assessment difficult.
- Consistent 0% officer compensation is unusual for an organization of this asset size and could indicate compensation is reported under other categories or that leadership is entirely volunteer, which might raise questions about sustainability or capacity.
Strengths
The following positive indicators were identified for Magellan Education Foundation Inc:
- Strong and growing asset base, reaching $7,470,061, indicating long-term financial stability.
- Consistent reporting of 0% officer compensation, suggesting very low or no executive salary burden.
- Expenses consistently below revenue in most years, demonstrating sound financial management and sustainability.
- Long history of IRS 990 filings (13 filings), indicating a commitment to transparency and compliance.
- Low liabilities relative to assets, with liabilities of $4,551,422 against assets of $7,474,445 in 202306, showing a healthy balance sheet.
Frequently Asked Questions about Magellan Education Foundation Inc
Is Magellan Education Foundation Inc a legitimate charity?
Magellan Education Foundation Inc (EIN: 203971056) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $475K. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Magellan Education Foundation Inc spend its money?
Magellan Education Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Magellan Education Foundation Inc tax-deductible?
Magellan Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203971056). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Magellan Education Foundation Inc CEO make?
Magellan Education Foundation Inc's highest-compensated officer earns $7 annually. The organization reported $475K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Magellan Education Foundation Inc's spending goes to programs?
Magellan Education Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Magellan Education Foundation Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Magellan Education Foundation Inc is above average for NTEE category B11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Magellan Education Foundation Inc located?
Magellan Education Foundation Inc is headquartered in Raleigh, North Carolina and files with the IRS under EIN 203971056. It is classified under NTEE code B11.
How many years of IRS 990 filings does Magellan Education Foundation Inc have?
Magellan Education Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $475K in total revenue.
Is Magellan Education Foundation Inc. a good charity?
Based on the provided data, Magellan Education Foundation Inc. appears to be a financially stable and well-managed organization. Its substantial asset base ($7,470,061) relative to its revenue ($474,892) and consistent reporting of 0% officer compensation are strong positive indicators. However, without a detailed breakdown of program spending, it's difficult to fully assess its direct impact.
How does Magellan Education Foundation Inc. manage its assets?
The foundation has consistently maintained and grown its assets, from $5,647,569 in 2015 to $7,470,061 in the latest period. This suggests effective asset management, potentially through investments or a significant endowment, which provides long-term financial stability for its mission.
What is the trend in the organization's revenue and expenses?
Revenue has fluctuated but generally remained in the $300,000-$500,000 range over the past decade, with the latest revenue at $474,892. Expenses have consistently been lower than revenue in most years, such as $331,248 in expenses against $365,340 in revenue in 202306, indicating prudent financial management and a tendency to operate within its means.
Filing History
IRS 990 filing history for Magellan Education Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Magellan Education Foundation Inc's revenue has declined by 45%, moving from $665K to $365K. Total assets increased by 8.4% over the same period, from $6.9M to $7.5M. Total functional expenses fell by 25.9%, from $447K to $331K. In its most recent filing year (2023), Magellan Education Foundation Inc reported a surplus of $34K, with revenue exceeding expenses. The organization holds $4.6M in liabilities against $7.5M in assets (debt-to-asset ratio: 60.9%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $365K | $331K | $7.5M | $4.6M | — | View 990 |
| 2022 | $324K | $362K | $7.1M | $4.2M | — | View 990 |
| 2021 | $429K | $326K | $7.2M | $4.3M | — | View 990 |
| 2020 | $466K | $326K | $7.2M | $4.4M | — | View 990 |
| 2019 | $461K | $260K | $5.4M | $2.7M | — | View 990 |
| 2018 | $409K | $288K | $5.9M | $3.4M | — | View 990 |
| 2017 | $459K | $300K | $6.0M | $3.7M | — | View 990 |
| 2016 | $527K | $304K | $6.1M | $3.9M | — | View 990 |
| 2015 | $515K | $599K | $5.6M | $3.7M | — | View 990 |
| 2014 | $477K | $371K | $6.3M | $4.3M | — | View 990 |
| 2013 | $502K | $447K | $6.6M | $4.6M | — | View 990 |
| 2012 | $566K | $394K | $6.9M | $5.0M | — | View 990 |
| 2011 | $665K | $447K | $6.9M | $5.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $365K, expenses of $331K, and assets of $7.5M (revenue +12.8% year-over-year).
- 2022: Revenue of $324K, expenses of $362K, and assets of $7.1M (revenue -24.5% year-over-year).
- 2021: Revenue of $429K, expenses of $326K, and assets of $7.2M (revenue -7.8% year-over-year).
- 2020: Revenue of $466K, expenses of $326K, and assets of $7.2M (revenue +1.0% year-over-year).
- 2019: Revenue of $461K, expenses of $260K, and assets of $5.4M (revenue +12.7% year-over-year).
- 2018: Revenue of $409K, expenses of $288K, and assets of $5.9M (revenue -11.0% year-over-year).
- 2017: Revenue of $459K, expenses of $300K, and assets of $6.0M (revenue -12.8% year-over-year).
- 2016: Revenue of $527K, expenses of $304K, and assets of $6.1M (revenue +2.3% year-over-year).
- 2015: Revenue of $515K, expenses of $599K, and assets of $5.6M (revenue +7.9% year-over-year).
- 2014: Revenue of $477K, expenses of $371K, and assets of $6.3M (revenue -4.9% year-over-year).
- 2013: Revenue of $502K, expenses of $447K, and assets of $6.6M (revenue -11.3% year-over-year).
- 2012: Revenue of $566K, expenses of $394K, and assets of $6.9M (revenue -14.9% year-over-year).
- 2011: Revenue of $665K, expenses of $447K, and assets of $6.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Magellan Education Foundation Inc:
Data Sources and Methodology
This transparency report for Magellan Education Foundation Inc 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.