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Nonprofiteer
← MAGNET QALICB INC

Form 990 for tax year 2022

Filed by MAGNET QALICB INC.

Totals

Total revenue
$2,427,747
Total expenses
$2,541,453
Contributions and grants received
$1,942,211
Grants paid
$1,745,812
Program services expenses (Part IX)
$1,745,812
Management and general expenses
$795,641
Fundraising expenses
$0
Program service expenses (Part III)
$1,745,812

Program services were 68.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • ETHAN KARP

    PRESIDENT & DIRECTOR

    Total calculated
    $469,339
    From this org
    $0
    From related orgs
    $441,912
    Other
    $27,427
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,912 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $11,067 related
    Nontaxable benefits
    $0 + $16,360 related
    Filer's total
    $0 + $469,339 related

  • EDWARD KNEITEL

    TREASURER & DIRECTOR

    Total calculated
    $130,012
    From this org
    $0
    From related orgs
    $123,324
    Other
    $6,688
    Hours/week
    1 + 40 related

  • LEE CHILCOTE

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THEODORE EINHORN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT M SIMON

    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 — 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

None.

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

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421369349311307

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