Magnet Schools of America Inc

EIN: 760428386 501(c)(3) Education

Washington, DC

Total Revenue
$2,857,007
Total Expenses
$2,843,674
Total Assets
$1,330,679
Net Assets
$937,944
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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
1994
Legal Domicile
TX
Principal Officer
Ramin Taheri
Phone
2028240672
Tax Period
2023-01-01 to 2023-12-31

Magnet Schools of America Inc, founded in 1994, is a community nonprofit in the Education sector that reported $2.9M in total revenue in fiscal year 2023.

Mission

Magnet Schools of America provides leadership for high quality instructional programs that promote choice, equity, diversity, and academic excellence for all students.

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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 $335,274
Program Service Revenue $2,508,085
Investment Income $13,648
Other Revenue $0
TOTAL REVENUE $2,857,007

Expense Breakdown

Grants Paid $71,150
Salaries & Benefits $818,699
Fundraising Expenses $61,292
Program Expenses $2,570,793
Other Expenses $1,953,825
TOTAL EXPENSES $2,843,674

Year-over-Year Comparison

2023 2022 Change
Revenue $2,857,007 $2,838,835 +0.0%
Expenses $2,843,674 $2,992,762 0.0%
Net Income $13,333 $-153,927 -1.1%
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
26
Independent Members
20
Employees
4
Volunteers
N/A

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
8
$364,149
Total Directors
26
$147,600
Key Employees
1
$180,394
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Theresa Porter President 2.00
Officer Director
$0 $0 $0
Dr Robert G Brooks Past President 2.00
Director
$0 $0 $0
Dr Kim Morrison Immediate Past President 2.00
Officer Director
$0 $0 $0
Corri Roche Secretary 2.00
Officer Director
$0 $0 $0
Dr Keith Abrahams Specialized Director 2.00
Director
$0 $0 $0
Susan King Past President, Parliamentarian 2.00
Officer Director
$0 $0 $0
Dr Monika Wiley Treasurer 2.00
Officer Director
$0 $0 $0
Dr Michelle Frazier Past President 2.00
Director
$34,200 $0 $34,200
Dr Evonne Alvarez Specialized Director 2.00
Director
$0 $0 $0
LaRhonda Donaldson Specialized Director 2.00
Director
$0 $0 $0
Maree Sneed Esq Specialized Director 2.00
Director
$1,000 $0 $1,000
Dr Kimberly Lane President-Elect 2.00
Officer Director
$0 $0 $0
Justin Fuentes Region V Director 2.00
Director
$0 $0 $0
Jayme Rawson Region II Director 2.00
Director
$27,900 $0 $27,900
Dr Beth Cochran Specialized Director 2.00
Director
$58,500 $0 $58,500
Jillian Schulte Region VI Director 2.00
Director
$0 $0 $0
Barbara Turner Specialized Director 2.00
Director
$0 $0 $0
Doreen Marvin Past President 2.00
Director
$25,000 $0 $25,000
Brenden Mims Region I Director 2.00
Director
$0 $0 $0
Francesca Ver Ploegh Region IV Director 2.00
Director
$1,000 $0 $1,000
William Magnotta Past President 2.00
Director
$0 $0 $0
Sara Wheeler Past President 2.00
Director
$0 $0 $0
Judith Stein Past President 2.00
Director
$0 $0 $0
MaryeEllen Elia Past President 2.00
Director
$0 $0 $0
Magda Pereira Region III Director 2.00
Director
$0 $0 $0
Walter Hall Region IV Director 2.00
Director
$0 $0 $0
Ramin Taheri CEO, ex officio 40.00
Officer
$219,500 $6,000 $225,500
May Yang Shen COO 40.00
Officer
$134,562 $4,087 $138,649
Kelly Bucherie Director of NIMSL 40.00
Key Emp
$180,394 $0 $180,394
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 No data No data No data No data
2023 $2,857,007 $2,843,674 $1,330,679 $13,333
2022 $2,838,835 $2,992,762 $1,382,517 $-153,927
2021 $2,109,210 $1,710,414 $1,905,841 $398,796
2020 $1,131,352 $1,525,101 $1,721,935 $-393,749
2019 $2,297,890 $2,252,177 $1,472,821 $45,713
2018 $2,383,400 $2,315,233 $1,238,384 $68,167
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