MAGELLAN EDUCATION FOUNDATION INC

EIN: 203971056 501(c)(3) Education

RALEIGH, NC

Total Revenue
$474,892
Total Expenses
$362,170
Total Assets
$7,470,061
Net Assets
$3,033,053
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
NC
Principal Officer
BRUCE BOUCHER
Phone
9198440277
Tax Period
2023-07-01 to 2024-06-30

MAGELLAN EDUCATION FOUNDATION INC, founded in 2005, is a small nonprofit in the Education sector that reported $475K in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $113K, a strong 24% operating margin.

Mission

TO SUPPORT AND MANAGE ASSETS FOR THE MAGELLAN CHARTER SCHOOL AND OTHER INNOVATIVE EDUCATIONAL PROGRAMS ASSOCIATED WITH OR SUPPORTING THAT SCHOOL AND ITS PROGRAMS.

Program Service Accomplishments

Program 1
Expenses: $362,170 Revenue: $365,682

PROVIDED ASSET MANAGEMENT AND SUPPORT FOR THE MAGELLAN CHARTER SCHOOL AND ITS PROGRAMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $77,962
Program Service Revenue $365,682
Investment Income $31,248
Other Revenue $0
TOTAL REVENUE $474,892

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $362,170
Other Expenses $362,170
TOTAL EXPENSES $362,170

Year-over-Year Comparison

2023 2022 Change
Revenue $474,892 $365,340 +0.3%
Expenses $362,170 $331,248 +0.1%
Net Income $112,722 $34,092 +2.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
10

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$158,309
Total Directors
7
$158,309
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRUCE BOUCHER BOARD PRESIDENT 1.00
Officer Director
$0 $0 $0
JIM DERRICKSON VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JESSICA O'DONOVAN SECRETARY 2.00
Officer Director
$0 $14,309 $158,309
SUZY ALLAIRE BOARD MEMBER 1.00
Director
$0 $0 $0
JIM NOWAK BOARD MEMBER 1.00
Director
$0 $0 $0
SEAN WITTY BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE LOTTERHOS BOARD MEMBER 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $474,892 $362,170 $7,470,061 $112,722
2023 $365,340 $331,248 $7,474,445 $34,092
2022 $323,820 $361,725 $7,107,279 $-37,905
2021 $429,134 $326,259 $7,238,088 $102,875
2020 $465,564 $326,451 $7,248,961 $139,113
2019 $460,738 $260,097 $5,382,930 $200,641
2018 $408,857 $288,261 $5,927,860 $120,596
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