Magnolia Art Xchange Inc
- Assets
- $119.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Ocala, FL
- Founding
- 01/2016
- Data as of
- 12/2023
- EIN
- 47-4614706
Organization Overview
Magnolia Art Xchange Inc is located in Ocala, FL. The organization was established in 2016. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnolia Art Xchange 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, Magnolia Art Xchange Inc generated $35.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 21.5% each year . All expenses for the organization totaled $31.5k during the year ending 12/2023. While expenses have increased by 26.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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 Program Activity:
Part 3
DURING 2019 THE MAGNOLIA ART EXCHANGE, INC'S LARGEST ACCOMPLISHMENT HAS BEEN DEVELOPING IT'S MARKETING PLAN AND PUTTING INFASTRUCTURES IN PLACE TO REACH IT'S FUTURE FUNDRAISING GOALS AND IMPLEMENT PARTNERSHIPS WITHIN OUR COMMUNITY. THE 2019 EXPENSES HAVE BEEN FOR GENERAL BUSINESS AND ADMINISTRATIVE ITEMS. THERE WERE NO PROGRAM RELATED REVENUE AND/OR EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessi Miller Director | 0 | $0 | |
Barbara Fitos President | 0 | $0 | |
Victoria Billig Director | 0 | $0 | |
Shannon Moore Director | 0 | $0 | |
Olivia Ortiz Director | 0 | $0 | |
Greg Wesolowski Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,734 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $5 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $35,739 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $16,015 |
| Professional fees and other payments to independent contractors | $129 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $15,357 |
| Total expenses | $31,501 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $118,352 |
| Other assets | $0 |
| Total assets | $119,720 |
| Total liabilities | $533 |
| Net assets or fund balances | $119,187 |