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Nonprofiteer
← MAGNOLIA SPECIALIZED SERVICES INC

Form 990 for tax year 2023

Filed by MAGNOLIA SPECIALIZED SERVICES INC.

Totals

Total revenue
$3,511,565
Total expenses
$3,685,252
Contributions and grants received
$3,464,105
Grants paid
$0
Program service revenue
$0
Investment income
$38,094
Other revenue
$9,366
Total assets, end of year
$2,139,199
Total liabilities, end of year
$152,617
Net assets or fund balances, end of year
$1,986,582
Program services expenses (Part IX)
$3,589,659
Management and general expenses
$95,593
Fundraising expenses
$0
Program service expenses (Part III)
$3,589,659

Program services were 97.4% 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)

    $3,302,975

  • 1f · All other contributions, gifts and grants

    $161,130

  • 3 · Investment income

    total $23,307 · excluded $23,307

  • 7a · Gross sales of assets other than inventory

    other assets $14,787

  • 7c · Gain or loss

    other assets $14,787

  • 7d · Net gain or loss

    total $14,787 · related or exempt $13,205 · excluded $1,582

  • 8a · Fundraising events: gross income

    $32,497

  • 8b · Fundraising events: direct expenses

    $23,131

  • 8c · Net income from fundraising events

    total $9,366

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $78,139 · management and general $78,139

  • 7 · Other salaries and wages

    total $1,518,827 · program services $1,518,827

  • 8 · Pension plan contributions

    total $54,012 · program services $50,211 · management and general $3,801

  • 9 · Other employee benefits

    total $268,323 · program services $260,648 · management and general $7,675

  • 10 · Payroll taxes

    total $123,684 · program services $117,706 · management and general $5,978

  • 11c · Fees: accounting

    total $25,785 · program services $25,785

  • 12 · Advertising and promotion

    total $6,839 · program services $6,839

  • 13 · Office expenses

    total $36,929 · program services $36,929

  • 17 · Travel

    total $2,417 · program services $2,417

  • 20 · Interest

    total $7,441 · program services $7,441

  • 22 · Depreciation, depletion and amortization

    total $127,484 · program services $127,484

  • 23 · Insurance

    total $156,907 · program services $156,907

  • 24a · Other expenses: CONTRACT THERAPY

    total $669,529 · program services $669,529

  • 24b · Other expenses: FOOD

    total $254,666 · program services $254,666

  • 24c · Other expenses: TRANSPORTATION

    total $113,232 · program services $113,232

  • 24d · Other expenses: PROGRAM SUPPLIES

    total $49,653 · program services $49,653

  • 24e · All other expenses

    total $191,385 · program services $191,385

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $680,723 · end of year $372,057

  • 4 · Accounts receivable

    beginning of year $371,708 · end of year $435,051

  • 10a · Land, buildings and equipment: cost or other basis

    $3,257,938

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,209,849

  • 10c · Land, buildings and equipment, net

    beginning of year $1,032,771 · end of year $1,048,089

  • 11 · Investments: publicly traded securities

    beginning of year $258,180 · end of year $283,551

  • 15 · Other assets

    beginning of year $451 · end of year $451

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,676 · end of year $37,328

  • 23 · Secured mortgages and notes payable

    beginning of year $145,951 · end of year $115,289

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,142,206 · end of year $1,986,582

Mission and programs · 2023

Mission

EDUCATION OF THE MENTALLY HANDICAPPED

  • DAY PROGRAM FOR ADULT MEN AND WOMEN WITH DEVELOPMENTAL DISABILITIES. THIS PROGRAM SERVICES ABOUT 50 INDIVIDUALS PER MONTH.

    Expenses $1,261,714

  • AGES 3-5 PRESCHOOL FOR CHILDREN WITH DEVELOPMENTAL DELAYS. THIS PROGRAM SERVES ABOUT 30 CHILDREN PER MONTH.

    Expenses $2,053,491

  • WAIVER PROGRAM IS A HOME BASED PROGRAM FOR MEN AND WOMEN WITH DEVELOPMENTAL DISABILITIES.

    Expenses $274,454

  • RESIDENTIAL FACILITIES FOR MEN AND WOMEN WITH DEVELOPMENTAL DISABILITIES. THIS PROGRAM SERVES 32 CLIENTS PER MONTH.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dorothy Chaffin

    BOARD MEMBER

    Total calculated
    $0

  • Chris Gilliam

    VICE PRESIDE

    Total calculated
    $0

  • Carolyn Greene

    BOARD MEMBER

    Total calculated
    $0

  • Shirlye Hopkins

    SECRETARY-TR

    Total calculated
    $0

  • Paula Smith

    BOARD MEMBER

    Total calculated
    $0

  • Robbye Taylor

    BOARD MEMBER

    Total calculated
    $0

  • Angie Waters

    BOARD MEMBER

    Total calculated
    $0

  • Margo Weiser

    PRESIDENT

    Total calculated
    $0

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
22 November 2024
IRS schema version
2023v5.0
Source object
202423459349300407

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