Magnifi Financial Credit Union
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2017 | 51,224,859 | 40,743,473 | 10,481,386 | 45.9 | 47% |
| 2018 | 57,068,510 | 43,667,539 | 13,400,971 | 46.5 | 46% |
| 2019 | 66,228,219 | 52,153,934 | 14,074,285 | 42.8 | 42% |
| 2020 | 74,850,818 | 62,900,631 | 11,950,187 | 37.8 | 4% |
| 2021 | 78,975,601 | 61,813,507 | 17,162,094 | 40.9 | 43% |
| 2022 | 87,403,819 | 72,413,903 | 14,989,916 | 35.9 | 42% |
| 2023 | 128,720,153 | 108,628,019 | 20,092,134 | 26.6 | 31% |
In its most recent public year (2023), this organization brought in $20,092,134 more than it spent. Its reserves stood at about 26.6 months of spending, down from 45.9 in 2017. Staff pay was 31% 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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