Magnificat Foundation Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2014 | 382,214 | 433,813 | −51,599 | 1.9 | 0% |
| 2015 | 92,416 | 84,793 | 7,623 | 10.7 | 0% |
| 2016 | 17,364 | 27,970 | −10,606 | 27.9 | 0% |
| 2017 | 617,617 | 108,134 | 509,483 | 63.8 | 0% |
| 2018 | 269,409 | 636,983 | −367,574 | 3.9 | 0% |
| 2019 | 55,203 | 62,440 | −7,237 | 38.4 | 0% |
| 2020 | 23,247 | 18,054 | 5,193 | 136.2 | 0% |
| 2021 | 20,647 | 11,298 | 9,349 | 227.5 | 0% |
| 2022 | 20,341 | 25,052 | −4,711 | 100.0 | 0% |
| 2023 | 29,845 | 42,058 | −12,213 | 56.1 | 0% |
In its most recent public year (2023), this organization spent $12,213 more than it brought in. Its reserves stood at about 56.1 months of spending, up from 1.9 in 2014. Staff pay was 0% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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