Magnet Lending Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 15,000 | 771 | 14,229 | 23583.3 | 0% |
| 2021 | 86,921 | 10,842 | 76,079 | 1794.5 | 0% |
| 2022 | 157,066 | 3,488 | 153,578 | 9932.8 | 0% |
| 2023 | 4,238,819 | 178,499 | 4,060,320 | 465.2 | 0% |
In its most recent public year (2023), this organization brought in $4,060,320 more than it spent. Its reserves stood at about 465.2 months of spending, down from 23583.3 in 2020. 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
Magnet Lending Corporation's IRS filings as a feed — one entry per filing year, through 2023. Add the address to any feed reader; in Slack, send /feed subscribe with it (pasting the link alone won't subscribe). How this feed works