Magnificat Home Inc
- Assets
- $65.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 5
- Location
- Jersey City, NJ
- Founding
- 04/2008
- Data as of
- 12/2023
- EIN
- 26-0473833
Organization Overview
Magnificat Home Inc is located in Jersey City, NJ. The organization was established in 2008. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Magnificat Home Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnificat Home Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Magnificat Home Inc generated $188.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.3%) each year. All expenses for the organization totaled $155.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (14.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MAGNIFICAT HOME IS A NONPROFIT ORGANIZATION OPERATING A BOARDING HOME THAT OFFERS HOUSING FOOD MEDICAL ASSISTANCE TO WOMEN IN NEED
Describe the Organization's Program Activity:
Part 3
LODGING FOR WOMEN IN NEED
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Majewski Treasurer | 1 | $0 | |
Kyle Laracy President | 1 | $0 | |
Lauren Sullivan Vice President | 1 | $0 | |
Mary Mccabe Board Member | 1 | $0 | |
Denise Baskerville Board Member | 1 | $0 | |
Ed Langley Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,285 |
| Total Program Service Revenue | $130,156 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $188,441 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $44,785 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $265 |
| Other expenses | $110,346 |
| Total expenses | $155,396 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $63,993 |
| Other assets | $0 |
| Total assets | $65,493 |
| Total liabilities | $0 |
| Net assets or fund balances | $65,493 |