Society Of American Magicians Magic Endowment Fund Inc
Magic Endowment Fund: Strong Assets, Low Revenue, Minimal Spending
EIN: 222761202 · Tolland, CT · NTEE: A6XC · Updated: 2026-04-04
Is Society Of American Magicians Magic Endowment Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Society Of American Magicians Magic Endowment Fund Inc
Society Of American Magicians Magic Endowment Fund Inc (EIN: 222761202) is a nonprofit organization based in Tolland, CT, classified under NTEE code A6XC. The organization reported total revenue of $385K and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Society Of American Magicians Magic Endowment Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Society Of American Magicians Magic Endowment Fund Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $94K |
| Total Expenses | $48K |
| Surplus / Deficit | +$46K |
| Total Assets | $2.0M |
| Net Assets | $2.0M |
| Operating Margin | 49.3% |
| Months of Reserves | 501.8 months |
Financial Health Grade: A
In 2023, Society Of American Magicians Magic Endowment Fund Inc reported a surplus of $46K with revenue exceeding expenses, holds 501.8 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Society Of American Magicians Magic Endowment Fund Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.4% | +71.6% | +3.1% |
| 2022 | -57.8% | -22.6% | -12.2% |
| 2021 | +492.5% | +33.2% | +40.3% |
| 2020 | -30.0% | -37.3% | +25.4% |
| 2019 | -6.5% | -30.2% | -11.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Society Of American Magicians Magic Endowment Fund Inc with a Mission Score of 75 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: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Society Of American Magicians Magic Endowment Fund Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $46K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, indicating no direct compensation for leadership.
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 Society Of American Magicians Magic Endowment Fund Inc's IRS 990 filings:
- Consistent reporting of $0 for program service expenses raises questions about the direct charitable activities of the endowment fund.
- The organization's revenue has fluctuated significantly, from a high of $409,911 in 2021 to a low of $52,698 in 2017, indicating potential reliance on investment performance rather than consistent fundraising.
- The 'Other expenses' category, which was $47,898 in 2023, is not clearly defined, making it difficult to assess the nature of these expenditures.
Strengths
The following positive indicators were identified for Society Of American Magicians Magic Endowment Fund Inc:
- The organization maintains a substantial asset base, with total assets consistently over $1 million, reaching $2,115,427 in 2023.
- The fund consistently reports $0 in liabilities, indicating strong financial health and no debt.
- The absence of executive compensation demonstrates a commitment to minimizing administrative overhead related to salaries.
Frequently Asked Questions about Society Of American Magicians Magic Endowment Fund Inc
Is Society Of American Magicians Magic Endowment Fund Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Society Of American Magicians Magic Endowment Fund Inc (EIN: 222761202) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Society Of American Magicians Magic Endowment Fund Inc spend its money?
Detailed spending breakdown data is not yet available for Society Of American Magicians Magic Endowment Fund Inc. Check back for updated IRS 990 analysis.
Are donations to Society Of American Magicians Magic Endowment Fund Inc tax-deductible?
Society Of American Magicians Magic Endowment Fund Inc is registered as a tax-exempt nonprofit (EIN: 222761202). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Society Of American Magicians Magic Endowment Fund Inc do?
Society Of American Magicians Magic Endowment Fund Inc is a nonprofit organization in the Arts, Culture & Humanities sector, located in Tolland, Connecticut. It is classified under NTEE code A6XC.
How much revenue does Society Of American Magicians Magic Endowment Fund Inc have?
Society Of American Magicians Magic Endowment Fund Inc reported total revenue of $385,262. Based on 13 IRS 990 filings on record.
What are Society Of American Magicians Magic Endowment Fund Inc's total assets?
Society Of American Magicians Magic Endowment Fund Inc holds total assets of $2,115,427 as reported in IRS 990 filings.
Where is Society Of American Magicians Magic Endowment Fund Inc located?
Society Of American Magicians Magic Endowment Fund Inc is based in Tolland, Connecticut.
What is Society Of American Magicians Magic Endowment Fund Inc's EIN?
Society Of American Magicians Magic Endowment Fund Inc's Employer Identification Number (EIN) is 222761202. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Society Of American Magicians Magic Endowment Fund Inc?
Society Of American Magicians Magic Endowment Fund Inc is classified under NTEE code A6XC (Arts, Culture & Humanities).
Is Society Of American Magicians Magic Endowment Fund Inc a registered 501(c)(3)?
Yes, Society Of American Magicians Magic Endowment Fund Inc is recognized as a tax-exempt organization by the IRS. EIN: 222761202.
Does Society Of American Magicians Magic Endowment Fund Inc file IRS Form 990?
Yes, Society Of American Magicians Magic Endowment Fund Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202308.
What was Society Of American Magicians Magic Endowment Fund Inc's revenue in 2023?
In the 202308 filing period, Society Of American Magicians Magic Endowment Fund Inc reported total revenue of $94,381, total expenses of $47,898, and net assets of $2,003,094.
Is Society Of American Magicians Magic Endowment Fund Inc's revenue growing or declining?
Society Of American Magicians Magic Endowment Fund Inc's revenue is declining. Revenue went from $172,847 (202208) to $94,381 (202308), a -45.4% change. Based on 13 filings on record.
What is Society Of American Magicians Magic Endowment Fund Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Society Of American Magicians Magic Endowment Fund Inc covers tax period 202308. It shows revenue of $94,381, expenses of $47,898, total assets of $2,003,094, and liabilities of N/A.
Is Society Of American Magicians Magic Endowment Fund Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Society Of American Magicians Magic Endowment Fund Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Society Of American Magicians Magic Endowment Fund Inc?
The following concerns were identified: Consistent reporting of $0 for program service expenses raises questions about the direct charitable activities of the endowment fund.. The organization's revenue has fluctuated significantly, from a high of $409,911 in 2021 to a low of $52,698 in 2017, indicating potential reliance on investment performance rather than consistent fundraising.. The 'Other expenses' category, which was $47,898 in 2023, is not clearly defined, making it difficult to assess the nature of these expenditures.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Society Of American Magicians Magic Endowment Fund Inc's strengths?
Positive indicators for Society Of American Magicians Magic Endowment Fund Inc include: The organization maintains a substantial asset base, with total assets consistently over $1 million, reaching $2,115,427 in 2023.. The fund consistently reports $0 in liabilities, indicating strong financial health and no debt.. The absence of executive compensation demonstrates a commitment to minimizing administrative overhead related to salaries.. These findings are derived from AI analysis of the organization's financial filings.
How does Society Of American Magicians Magic Endowment Fund Inc compensate executives?
Executive compensation is consistently reported as $0 across all available filings, indicating no direct compensation for leadership. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 in program service expenses, how does the Society Of American Magicians Magic Endowment Fund Inc fulfill its mission to support magic?
The filings suggest the fund operates as an endowment, likely generating income from its assets to support the Society of American Magicians, rather than directly running programs. The 'Other expenses' might include grants or distributions to the parent organization, but this is not explicitly detailed as program spending.
What is the nature of the 'Other expenses' reported, which were $47,898 in 2023, and how do they contribute to the organization's purpose?
The filings do not provide a detailed breakdown of 'Other expenses.' Without further information, it's unclear if these expenses represent grants to other organizations, investment management fees, or other operational costs that indirectly support the endowment's purpose.
Filing History
IRS 990 filing history for Society Of American Magicians Magic Endowment Fund Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Society Of American Magicians Magic Endowment Fund Inc's revenue has grown by 239.3%, moving from $28K to $94K. Total assets increased by 169.1% over the same period, from $744K to $2.0M. Total functional expenses rose by 116.2%, from $22K to $48K. In its most recent filing year (2023), Society Of American Magicians Magic Endowment Fund Inc reported a surplus of $46K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $94K | $48K | $2.0M | $0 | — | View 990 |
| 2022 | $173K | $28K | $1.9M | $0 | — | View 990 |
| 2021 | $410K | $36K | $2.2M | $0 | — | View 990 |
| 2020 | $69K | $27K | $1.6M | $0 | — | View 990 |
| 2019 | $99K | $43K | $1.3M | $0 | — | View 990 |
| 2018 | $106K | $62K | $1.4M | $0 | — | View 990 |
| 2017 | $53K | $9K | $1.2M | $0 | — | View 990 |
| 2016 | $75K | $27K | $1.1M | $0 | — | View 990 |
| 2015 | $26K | $29K | $1.1M | $0 | — | View 990 |
| 2014 | $35K | $20K | $1.0M | $0 | — | View 990 |
| 2013 | $24K | $22K | $908K | $0 | — | View 990 |
| 2012 | $24K | $33K | $798K | $0 | — | View 990 |
| 2011 | $28K | $22K | $744K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $94K, expenses of $48K, and assets of $2.0M (revenue -45.4% year-over-year).
- 2022: Revenue of $173K, expenses of $28K, and assets of $1.9M (revenue -57.8% year-over-year).
- 2021: Revenue of $410K, expenses of $36K, and assets of $2.2M (revenue +492.5% year-over-year).
- 2020: Revenue of $69K, expenses of $27K, and assets of $1.6M (revenue -30.0% year-over-year).
- 2019: Revenue of $99K, expenses of $43K, and assets of $1.3M (revenue -6.5% year-over-year).
- 2018: Revenue of $106K, expenses of $62K, and assets of $1.4M (revenue +100.5% year-over-year).
- 2017: Revenue of $53K, expenses of $9K, and assets of $1.2M (revenue -29.6% year-over-year).
- 2016: Revenue of $75K, expenses of $27K, and assets of $1.1M (revenue +193.2% year-over-year).
- 2015: Revenue of $26K, expenses of $29K, and assets of $1.1M (revenue -26.9% year-over-year).
- 2014: Revenue of $35K, expenses of $20K, and assets of $1.0M (revenue +48.4% year-over-year).
- 2013: Revenue of $24K, expenses of $22K, and assets of $908K (revenue -0.1% year-over-year).
- 2012: Revenue of $24K, expenses of $33K, and assets of $798K (revenue -15.3% year-over-year).
- 2011: Revenue of $28K, expenses of $22K, and assets of $744K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Society Of American Magicians Magic Endowment Fund Inc:
Data Sources and Methodology
This transparency report for Society Of American Magicians Magic Endowment Fund 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.