MAGIC HAT THRIFT SHOP INC (EIN 320136377) - Form 990 Financial Analysis & Trantor Score

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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

Principal Officer

STEPHANIE SULLIVAN

Phone

7819902542

Tax Period

2024-07-01 to 2025-06-30

MAGIC HAT THRIFT SHOP INC, founded in 2005, is a small nonprofit in the Human Services sector that reported $365K in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year.

Mission

TO PROMOTE AND CARRY OUT FOR EDUCATIONAL AND CHARITABLE PURPOSES, SPECIFICALLY, TO RAISE FUNDS TO FURTHER THE EDUCATION OF CHILDREN ENROLLED IN THE MARBLEHEAD PUBLIC SCHOOLS IN THE TOWN OF MARBLEHEAD, MASSACHUSETTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,326

Program Service Revenue $358,178

Investment Income $2,459

Other Revenue $0

TOTAL REVENUE $364,963

Expense Breakdown

Grants Paid $250,000

Salaries & Benefits $100,450

Fundraising Expenses $0

Program Expenses $364,483

Other Expenses $39,558

TOTAL EXPENSES $390,008

Year-over-Year Comparison

	2024	2023	Change
Revenue	$364,963	$424,509	-0.1%
Expenses	$390,008	$390,135	0.0%
Net Income	$-25,045	$34,374	-1.7%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAREN SOLOMON	DIRECTOR	3.00	Director	$0	$0	$0
GAYLE STOLL	DIRECTOR	3.00	Director	$0	$0	$0
STEPHANIE SULLIVAN	PRESIDENT	3.00	Officer Director	$0	$0	$0
KATHI GRUNWALD	DIRECTOR	3.00	Director	$0	$0	$0
JULIE VINETTE	DIRECTOR	3.00	Director	$0	$0	$0
SUSAN MAY	TREASURER	3.00	Officer Director	$0	$0	$0
FILIPPO NENNA	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
FRANCES TULLY	DIRECTOR	3.00	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
2025	$364,963	$390,008	$148,037	$-25,045
2024	$424,509	$390,135	$172,562	$34,374
2023	$363,208	$330,781	$145,156	$32,427
2022	$284,415	$267,002	$101,653	$17,413
2019	$258,621	$248,825	$73,704	$9,796

MAGIC HAT THRIFT SHOP INC