Skip to content
Nonprofiteer
← SHARE THE MAGIC FOUNDATION INC

Form 990 for tax year 2023

Filed by SHARE THE MAGIC FOUNDATION INC.

Totals

Total revenue
$1,618,052
Total expenses
$1,139,723
Contributions and grants received
$787,406
Grants paid
$0
Program service revenue
$795,592
Investment income
$33,755
Other revenue
$1,299
Total assets, end of year
$2,187,623
Total liabilities, end of year
$257,306
Net assets or fund balances, end of year
$1,930,317
Program services expenses (Part IX)
$965,289
Management and general expenses
$126,417
Fundraising expenses
$48,017
Program service expenses (Part III)
$965,289

Program services were 84.7% 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.

  • 1c · Fundraising events

    $656,521

  • 1f · All other contributions, gifts and grants

    $130,885

  • 1g · Noncash contributions included above

    $39,107

  • 2a · Program service revenue: PROGRAM REVENUE

    total $795,592 · related or exempt $795,592

  • 3 · Investment income

    total $33,641 · excluded $33,641

  • 7a · Gross sales of assets other than inventory

    securities $8,936

  • 7b · Less cost or other basis and sales expenses

    securities $8,822

  • 7c · Gain or loss

    securities $114

  • 7d · Net gain or loss

    total $114 · excluded $114

  • 8a · Fundraising events: gross income

    $103,898

  • 8a · Fundraising events: contributions included on line 1c

    $656,521

  • 8b · Fundraising events: direct expenses

    $103,898

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: OTHER REVENUE

    total $1,299 · related or exempt $1,299

  • 11e · Other revenue, total

    $1,299

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $271,354 · program services $225,225 · management and general $27,135 · fundraising $18,994

  • 7 · Other salaries and wages

    total $161,433 · program services $133,990 · management and general $16,143 · fundraising $11,300

  • 10 · Payroll taxes

    total $31,383 · program services $26,048 · management and general $3,138 · fundraising $2,197

  • 11c · Fees: accounting

    total $18,166 · management and general $18,166

  • 11f · Fees: investment management

    total $10,524 · management and general $10,524

  • 11g · Fees: other

    total $100,828 · program services $100,828

  • 14 · Information technology

    total $64,425 · program services $64,425

  • 16 · Occupancy

    total $24,183 · program services $20,314 · management and general $3,869

  • 17 · Travel

    total $53,553 · program services $53,553

  • 23 · Insurance

    total $9,174 · management and general $9,174

  • 24a · Other expenses: BOOKS & MERCHANDISE

    total $325,385 · program services $325,385

  • 24b · Other expenses: SUPPLIES

    total $45,658 · program services $15,521 · management and general $14,611 · fundraising $15,526

  • 24c · Other expenses: BANK & ADMIN FEES

    total $20,814 · management and general $20,814

  • 24d · Other expenses: OTHER EXPENSES

    total $2,843 · management and general $2,843

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $799,676 · end of year $736,883

  • 9 · Prepaid expenses and deferred charges

    beginning of year $46,517 · end of year $33,931

  • 11 · Investments: publicly traded securities

    beginning of year $629,708 · end of year $1,317,865

  • 15 · Other assets

    beginning of year $0 · end of year $98,944

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,700 · end of year $13,588

  • 25 · Other liabilities

    beginning of year $92,850 · end of year $243,718

  • 27 · Net assets without donor restrictions

    beginning of year $1,381,351 · end of year $1,930,317

Mission and programs · 2023

Mission

TO PROMOTE THE LONG-TERM BENEFITS OF READING AND BOOK OWNERSHIP AMONG STUDENTS IN TITLE 1 SCHOOLS AND UNDERSERVED COMMUNITIES.

  • FREE VIRTUAL READING CHALLENGES, LITERACY ADVOCACY AND PROGRAMMING, BOOK OWNERSHIP.

    Expenses $965,289 · Revenue $796,891

As filed on the 2023 return.

Listed in Part VII

  • Patricia Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Gelfond

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Wanda J Hayes PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mohamed Massaquoi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Roy Neill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Parker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patricia Ramirez Pinckney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Carla Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Malcolm Mitchell

    EXECUTIVE DIRECTOR

    Total calculated
    $188,021
    From this org
    $188,021
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,021
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $188,021

  • Larry Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Conley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mandy Culpepper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Haber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amanda Rosseter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David J Sapp

    CFO

    Total calculated
    $0
    Hours/week
    5

  • Anne Sapp

    COO

    Total calculated
    $83,333
    From this org
    $83,333
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202423179349300727

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

The source document this was parsed from is served over the API, which is where bulk and document access live.