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Nonprofiteer
← MAGIC JOHNSON FOUNDATION

Form 990 for tax year 2024

Filed by MAGIC JOHNSON FOUNDATION.

Totals

Total revenue
$256,949
Total expenses
$398,851
Contributions and grants received
$235,301
Grants paid
$222,520
Program service revenue
$0
Investment income
$21,648
Other revenue
$0
Total assets, end of year
$703,878
Total liabilities, end of year
$22,500
Net assets or fund balances, end of year
$681,378
Program services expenses (Part IX)
$355,000
Management and general expenses
$43,851
Fundraising expenses
$0
Program service expenses (Part III)
$355,000

Program services were 89.0% 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.

  • 1f · All other contributions, gifts and grants

    $235,301

  • 1g · Noncash contributions included above

    $16,000

  • 3 · Investment income

    total $21,648 · excluded $21,648

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $166,585 · program services $166,585

  • 2 · Grants to domestic individuals

    total $55,935 · program services $55,935

  • 11b · Fees: legal

    total $21,255 · program services $4,251 · management and general $17,004

  • 12 · Advertising and promotion

    total $610 · management and general $610

  • 13 · Office expenses

    total $4,631 · program services $2,084 · management and general $2,547

  • 14 · Information technology

    total $25,584 · program services $7,675 · management and general $17,909

  • 23 · Insurance

    total $5,581 · management and general $5,581

  • 24a · Other expenses: HOLIDAY EVENT EXPENSES

    total $118,470 · program services $118,470

  • 24b · Other expenses: TAXES AND LICENSES

    total $200 · management and general $200

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $924,025 · end of year $122,230

  • 4 · Accounts receivable

    beginning of year $25,000 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $581,648

  • 17 · Accounts payable and accrued expenses

    beginning of year $98,245 · end of year $0

  • 18 · Grants payable

    beginning of year $27,500 · end of year $22,500

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $823,280 · end of year $681,378

Mission and programs · 2024

Mission

THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO INITIATE AND SUPPORT PROGRAMS THAT HELP TO SERVE UNDERSERVED COMMUNITIES AND ENHANCE THE LIVES OF UNDERPRIVILEGED AND NEEDY INDIVIDUALS, AND TO INITIATE AND SUPPORT CHARITABLE PROGRAMS THAT FURTHER THE HEALTH AND EDUCATION OF THE PUBLIC.

  • HOLIDAY HOPE: PROVIDED HOLIDAY JOY TO FAMILIES IN NEED. MUCH NEEDED RESOURCES (FOOD, CLOTHES, TOY, BOOKS)

    Expenses $287,030 · Grants $166,585

  • THE EARVIN JOHNSON, SR. SCHOLARSHIP FUND: THE PROGRAM IS DESIGNED TO PROVIDE SUPPORT FOR DESERVING AFRICAN AMERICAN INCOMING FRESHMAN AT MICHIGAN STATE UNIVERSITY WHO EXEMPLIFY A STRONG COMMITMENT FOR ACADEMIC ACHIEVEMENT BUT FACE SOCIO-ECONOMIC CONDITIONS THAT HINDER THEM FROM REACHING THEIR FULL POTENTIAL.

    Expenses $66,020 · Grants $55,935

  • MAGIC OF CHRISTMAS INITIATIVE: THE PROGRAM IS DESIGNED TO PROVIDE SUPPORT, HOPE, AND A SENSE OF COMMUNITY TO THOSE IN NEED. OUR GOAL IS TO SPREAD JOY AND ALLEVIATE SOME OF THESE BURDENS FOR FAMILIES DURING THE HOLIDAYS.

    Expenses $1,950

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Earvin Johnson Jr

    BOARD CHAIR, PRESIDENT, DI

    Total calculated
    $0
    Hours/week
    1

  • Kawanna Brown

    TREASURER, DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Earletha Johnson

    SECRETARY, DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202513169349307801

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

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