Magic City Acceptance Academy Charter School
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2021 | 701,653 | 106,015 | 595,638 | 67.4 | 97% |
| 2022 | 4,269,299 | 4,404,689 | −135,390 | 1.8 | 49% |
| 2023 | 4,006,761 | 5,574,369 | −1,567,608 | -2.0 | 47% |
In its most recent public year (2023), this organization spent $1,567,608 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-2 months), down from 67.4 in 2021. Staff pay was 47% of spending. $44,434 of its net assets are donor-restricted.
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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