Magic City Enterprises Inc
- Assets
- $2.6m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 183
- Location
- Cheyenne, WY
- Founding
- 10/1985
- Data as of
- 06/2021
- EIN
- 83-0271501
Organization Overview
Magic City Enterprises Inc is located in Cheyenne, WY. The organization was established in 1985. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2021, Magic City Enterprises Inc employed 183 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magic City Enterprises 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 06/2021, Magic City Enterprises Inc generated $7.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $5.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 6 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
PROVIDE TRAINING, EMPLOYMENT, TRANSPORTATION, AND HOUSING FOR DISABLED INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TRAINING, EMPLOYMENT, TRANSPORTATION AND HOUSING FOR DISABLED CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Gardner Ceo/pres | Officer | 40 | $104,000 |
Terri Lorenzon Chair | OfficerTrustee | 1 | $0 |
Clint O'connor Vice Chair | OfficerTrustee | 1 | $0 |
Madoka Grenvik Secretary | OfficerTrustee | 1 | $0 |
Wayne Hansen Treasurer | OfficerTrustee | 1 | $0 |
Bob Nicholas Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $83,000 |
| Government grants | $872,732 |
| All other contributions, gifts, grants, and similar amounts not included above | $889,519 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,845,251 |
| Total Program Service Revenue | $5,023,664 |
| Investment income | $49 |
| 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 | $7,258,123 |
| 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. | $100,000 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,031,361 |
| Pension plan accruals and contributions | $6,907 |
| Other employee benefits | $316,996 |
| Payroll taxes | $307,959 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $146,566 |
| Advertising and promotion | $0 |
| Office expenses | $14,077 |
| Information technology | $72,029 |
| Royalties | $0 |
| Occupancy | $59,597 |
| Travel | $20,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,031 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $178,343 |
| Insurance | $156,992 |
| All other expenses | $50,318 |
| Total functional expenses | $5,937,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $695,645 |
| Savings and temporary cash investments | $525,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $197,085 |
| 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 | $22,253 |
| Net Land, buildings, and equipment | $1,095,992 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,943 |
| Total assets | $2,601,918 |
| Accounts payable and accrued expenses | $1,460,122 |
| 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 | $50,000 |
| Other liabilities | $115,471 |
| Total liabilities | $1,625,593 |
| Net assets without donor restrictions | $976,325 |
| 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 | $2,601,918 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Magic City Enterprises Inc has recieved totaling $4,600.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $4,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Huron Area Center For Independence Huron, SD | $13,427,991 | $15,192,103 |
Flathead Industries Kalispell, MT | $13,457,403 | $11,698,127 |
Aspire Inc Aberdeen, SD | $9,447,713 | $8,030,066 |
Northern Hills Training Spearfish, SD | $10,166,360 | $9,462,308 |
Magic City Enterprises Inc Cheyenne, WY | $2,601,918 | $7,258,123 |
Ravalli Services Corporation Hamilton, MT | $6,207,705 | $5,413,263 |
Witco Inc Caldwell, ID | $9,614,356 | $5,849,799 |
Enableutah Ogden, UT | $14,960,609 | $4,820,584 |
North Platte Opportunity Corporation North Platte, NE | $1,420,802 | $4,991,102 |
Cache Employment & Training Center Logan, UT | $6,711,770 | $4,007,401 |
Community Option Resource Enterprises Inc Billings, MT | $4,280,965 | $3,037,464 |
Community Link Boulder, CO | $966,295 | $1,872,625 |