Magic Yarn Project
- Assets
- $261.2k
- Revenue
- $214.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Palmer, AK
- Founding
- 05/2016
- Data as of
- 12/2021
- EIN
- 81-0828812
Organization Overview
Magic Yarn Project is located in Palmer, AK. The organization was established in 2016. According to its NTEE Classification (G30) the organization is classified as: Cancer, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic Yarn Project 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 12/2021, Magic Yarn Project generated $214.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $142.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.5%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO BRING MAGIC INTO THE LIVES OF CHILDREN BATTLING CANCER BY PROVIDING MAGIC YARN WIGS THAT ARE INSPIRED BY BELOVED DISNEY CHARACTERS, AND INVITE CHILDREN BACK TO THE WORLD OF PLAY AND DAYDREAMING; AND TO INSPIRE VOLUNTEERISM TO MAKE A DIFFERENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHEMOTHERAPY TREATMENTS OFTEN LEAVE YOUNG SCALPS TOO SENSITIVE FOR TRADITIONAL WIGS. OUR YARN WIGS ARE COMFY, SOFT, AND WARM. MAGIC YARN WIGS ARE INSPIRED BY BELOVED DISNEY CHARACTERS, AND INVITE CHILDREN BACK TO THE WORLD OF PLAY AND DAYDREAMING. THEY ARE BEACONS OF FUN, LAUGHTER, AND PLAY, DURING SCARY TIMES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Christensen Founder/boar | OfficerTrustee | $0 | |
Terry Fields Board Treasu | OfficerTrustee | $0 | |
Jamie Metcalf Secretary | OfficerTrustee | $0 | |
Austin Grimes Board Member | Trustee | $0 | |
Roxie Mayberry Board Member | Trustee | $0 | |
Julie Wrigley Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $214,150 |
| Noncash contributions included in lines 1a–1f | $88,393 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $214,150 |
| Total Program Service Revenue | $0 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $214,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,025 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $30,265 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,019 |
| Travel | $713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $842 |
| All other expenses | $0 |
| Total functional expenses | $142,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,170 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $261,170 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $261,170 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $261,170 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Magic Yarn Project has recieved totaling $7,611.
| Awarding Organization | Amount |
|---|---|
Martha J Weiner Charitable Foundation Del Mar, CA PURPOSE: UNRESTRICTED | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,411 |
The Milo Foundation Bountiful, UT PURPOSE: CHARITABLE | $200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Wayne Cancer Institute Renton, WA | $27,175,448 | $21,154,027 |
Carol Milgard Breast Center Tacoma, WA | $8,655,041 | $14,594,014 |
American Lung Assoc Of The Mountain Pacific Seattle, WA | $10,188,791 | $6,717,008 |
Breast Cancer Detection Center Of Alaska And Charitable Corporation Fairbanks, AK | $5,224,470 | $2,649,366 |
Cancer Lifeline Of King County Seattle, WA | $2,421,225 | $1,642,285 |
Global Resource For Advancing Cancer Education Seattle, WA | $206,333 | $406,892 |
Columbia Basin Cancer Foundation Moses Lake, WA | $2,117,473 | $446,424 |
Cancer Cant Spokane, WA | $924,015 | $469,139 |
Ovarian Cancer Alliance Of Oregon & Sw Washington Vancouver, WA | $696,571 | $122,736 |
Glassybaby White Light Fund Seattle, WA | $0 | $116,560 |
Magic Yarn Project Palmer, AK | $261,170 | $214,166 |
Ski & Ride For A Cure Gig Harbor, WA | $11,384 | $90,164 |