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Nonprofiteer
← MAGNET HCCN

Form 990 for tax year 2023

Filed by MAGNET HCCN.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 19 August 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$4,175,030 changed to $2,354,220
Contributions and grants received
$4,175,000 changed to $2,354,190
Total assets, end of year
$1,528,956 changed to $574,364
Total liabilities, end of year
$14,472 changed to $880,956
Net assets or fund balances, end of year
$1,514,484 changed to -$306,592
Program services expenses
$2,226,260 changed to $2,268,445
Management and general expenses
$127,960 changed to $85,775
Program service expenses (Part III)
$2,226,260 changed to $2,268,445

Totals

Total revenue
$4,175,030
Total expenses
$2,354,220
Contributions and grants received
$4,175,000
Grants paid
$2,055,000
Program service revenue
$0
Investment income
$0
Other revenue
$30
Total assets, end of year
$1,528,956
Total liabilities, end of year
$14,472
Net assets or fund balances, end of year
$1,514,484
Program services expenses (Part IX)
$2,226,260
Management and general expenses
$127,960
Fundraising expenses
$0
Program service expenses (Part III)
$2,226,260

Program services were 94.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $4,175,000

  • 11a · Other revenue: Other

    total $30 · related or exempt $30 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $30

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,055,000 · program services $2,055,000

  • 5 · Compensation of officers, directors and key employees

    total $97,240 · program services $0 · management and general $97,240 · fundraising $0

  • 9 · Other employee benefits

    total $7,312 · program services $7,312 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $7,439 · program services $0 · management and general $7,439 · fundraising $0

  • 11a · Fees: management

    total $13,650 · program services $13,650 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $65,000 · program services $65,000 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $12,100 · program services $6,050 · management and general $6,050 · fundraising $0

  • 13 · Office expenses

    total $48,650 · program services $35,330 · management and general $13,320 · fundraising $0

  • 14 · Information technology

    total $12,753 · program services $12,753 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $26,012 · program services $24,468 · management and general $1,544 · fundraising $0

  • 17 · Travel

    total $2,529 · program services $2,529 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $2,367 · program services $0 · management and general $2,367 · fundraising $0

  • 23 · Insurance

    total $4,168 · program services $4,168 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $201,119 · end of year $527,144

  • 3 · Pledges and grants receivable

    end of year $1,000,000

  • 15 · Other assets

    beginning of year $1,812 · end of year $1,812

  • 17 · Accounts payable and accrued expenses

    beginning of year $100 · end of year $12,187

  • 18 · Grants payable

    beginning of year $509,424

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,285

  • 27 · Net assets without donor restrictions

    beginning of year -$306,593 · end of year $1,514,484

Mission and programs · 2023

Mission

Exclusively religious, charitable, scientific, literary or educational purposes, including for such purposes the making of distributions to organizations that qualify as exempt organizations under Section 501 (c) 3 of the Internal Revenue Code of 1986.

  • Distribution of Sub-grants to various community health centers.

    Expenses $2,226,260 · Grants $2,055,000

As filed on the 2023 return.

Listed in Part VII

  • Dr Rozell Chapman

    President

    Total calculated
    $0
    Hours/week
    2

  • Janice Robinson

    Vice-President

    Total calculated
    $0
    Hours/week
    2

  • Dr Jasmine Chapman

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Aurelia Jones-Taylor

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Wilber Jones

    Member

    Total calculated
    $0
    Hours/week
    2

  • Tiffany Grant

    Executive Director

    Total calculated
    $97,240
    From this org
    $97,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
21 March 2024
IRS schema version
2023v5.0
Source object
202431039349300618

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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