Military Magnet School Foundation
Military Magnet School Foundation maintains strong asset growth and zero liabilities with volunteer leadership.
EIN: 161622538 · N Charleston, SC · NTEE: B112 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $26K |
| Total Expenses | $48K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $330,000. |
| Net Assets | $332K |
| Transparency Score | 90/100 |
Is Military Magnet School Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Military Magnet School Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Military Magnet School Foundation
Military Magnet School Foundation (EIN: 161622538) is a nonprofit organization based in N Charleston, SC, classified under NTEE code B112. The organization reported total revenue of $26K and total assets of $352K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Military Magnet School Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Military Magnet School Foundation is a micro nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $51K |
| Total Expenses | $48K |
| Surplus / Deficit | +$3K |
| Total Assets | $332K |
| Net Assets | $332K |
| Operating Margin | 6.8% |
| Months of Reserves | 83.4 months |
Financial Health Grade: A
In 2023, Military Magnet School Foundation reported a surplus of $3K with revenue exceeding expenses, holds 83.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Military Magnet School Foundation's revenue has grown at a compound annual growth rate (CAGR) of 10.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.4% | +25.5% | +11.1% |
| 2022 | +49.5% | +55.7% | +5.2% |
| 2021 | -5.2% | -32.4% | +5.9% |
| 2020 | -25.0% | +82.8% | +1.6% |
| 2019 | +67.1% | +40.0% | +14.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Military Magnet School Foundation with a Mission Score of 90 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, Military Magnet School Foundation 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 $3K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly efficient for an organization of its size with assets growing to over $330,000.
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.
Strengths
The following positive indicators were identified for Military Magnet School Foundation:
- Consistent asset growth (from $11,024 in 2014 to $332,043 in 2023)
- Zero reported liabilities across all filings
- 0% officer compensation, indicating volunteer leadership and high efficiency
- Consistent IRS 990 filing history (13 filings), demonstrating transparency
- Expenses consistently lower than revenue, contributing to financial stability
Frequently Asked Questions about Military Magnet School Foundation
Is Military Magnet School Foundation a legitimate charity?
Military Magnet School Foundation (EIN: 161622538) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $26K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Military Magnet School Foundation spend its money?
Military Magnet School Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Military Magnet School Foundation tax-deductible?
Military Magnet School Foundation is registered as a tax-exempt nonprofit (EIN: 161622538). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Military Magnet School Foundation CEO make?
Military Magnet School Foundation's highest-compensated officer earns $330,000. annually. The organization reported $26K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Military Magnet School Foundation's spending goes to programs?
Military Magnet School Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Military Magnet School Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Military Magnet School Foundation is above average for NTEE category B112 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Military Magnet School Foundation located?
Military Magnet School Foundation is headquartered in N Charleston, South Carolina and files with the IRS under EIN 161622538. It is classified under NTEE code B112.
How many years of IRS 990 filings does Military Magnet School Foundation have?
Military Magnet School Foundation 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 $26K in total revenue.
Is Military Magnet School Foundation a good charity?
Based on the provided data, the Military Magnet School Foundation appears to be a good charity. It demonstrates strong financial health with growing assets ($332,043 in 2023), no liabilities, and a consistent history of 0% officer compensation, suggesting efficient use of funds and volunteer leadership.
How has the organization's financial health changed over time?
The organization's financial health has consistently improved over time, with assets growing from $11,024 in 2014 to $332,043 in 2023. Liabilities have remained at $0 throughout this period, indicating strong financial management and stability.
What is the trend in revenue and expenses?
Revenue has fluctuated, with a high of $150,864 in 2017 and recent figures around $50,000-$57,000 (e.g., $51,267 in 2023, $57,189 in 2022). Expenses have generally been well-managed and lower than revenue, contributing to asset growth (e.g., $47,775 expenses vs. $51,267 revenue in 2023).
Filing History
IRS 990 filing history for Military Magnet School Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Military Magnet School Foundation's revenue has grown by 215.3%, moving from $16K to $51K. Total assets increased by 1358.6% over the same period, from $23K to $332K. Total functional expenses rose by 1069%, from $4K to $48K. In its most recent filing year (2023), Military Magnet School Foundation reported a surplus of $3K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $51K | $48K | $332K | $0 | — | — |
| 2022 | $57K | $38K | $299K | $0 | — | View 990 |
| 2021 | $38K | $24K | $284K | $0 | — | — |
| 2020 | $40K | $36K | $268K | $0 | — | View 990 |
| 2019 | $54K | $20K | $264K | $0 | — | View 990 |
| 2018 | $32K | $14K | $230K | $0 | — | View 990 |
| 2017 | $151K | $31K | $212K | $0 | — | View 990 |
| 2016 | $18K | $10K | $92K | $0 | — | View 990 |
| 2015 | $78K | $4K | $85K | $0 | — | View 990 |
| 2014 | $5K | $7K | $11K | $0 | — | View 990 |
| 2013 | $7K | $17K | $12K | $0 | — | View 990 |
| 2012 | $11K | $12K | $22K | $0 | — | View 990 |
| 2011 | $16K | $4K | $23K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $51K, expenses of $48K, and assets of $332K (revenue -10.4% year-over-year).
- 2022: Revenue of $57K, expenses of $38K, and assets of $299K (revenue +49.5% year-over-year).
- 2021: Revenue of $38K, expenses of $24K, and assets of $284K (revenue -5.2% year-over-year).
- 2020: Revenue of $40K, expenses of $36K, and assets of $268K (revenue -25.0% year-over-year).
- 2019: Revenue of $54K, expenses of $20K, and assets of $264K (revenue +67.1% year-over-year).
- 2018: Revenue of $32K, expenses of $14K, and assets of $230K (revenue -78.7% year-over-year).
- 2017: Revenue of $151K, expenses of $31K, and assets of $212K (revenue +751.7% year-over-year).
- 2016: Revenue of $18K, expenses of $10K, and assets of $92K (revenue -77.3% year-over-year).
- 2015: Revenue of $78K, expenses of $4K, and assets of $85K (revenue +1355.4% year-over-year).
- 2014: Revenue of $5K, expenses of $7K, and assets of $11K (revenue -25.3% year-over-year).
- 2013: Revenue of $7K, expenses of $17K, and assets of $12K (revenue -35.1% year-over-year).
- 2012: Revenue of $11K, expenses of $12K, and assets of $22K (revenue -32.1% year-over-year).
- 2011: Revenue of $16K, expenses of $4K, and assets of $23K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Military Magnet School Foundation:
Data Sources and Methodology
This transparency report for Military Magnet School 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.