MAGNET QALICB INC (EIN 882834792) - 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

2022

Legal Domicile

Principal Officer

DANIEL JACOBY

Phone

2165431222

Tax Period

2024-07-01 to 2025-06-30

MAGNET QALICB INC, founded in 2022, is a small nonprofit in the Community Improvement sector that reported $743K in total revenue in fiscal year 2024. Expenses of $1.2M exceeded revenue, resulting in a 58% operating deficit.

Mission

AN ORGANIZATION PROVIDING SUPPORT FOR MANUFACTURERS IN NORTHEAST OHIO

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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 $0

Program Service Revenue $742,560

Investment Income $36

Other Revenue $0

TOTAL REVENUE $742,596

Expense Breakdown

Grants Paid $140,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $140,000

Other Expenses $1,029,765

TOTAL EXPENSES $1,169,765

Year-over-Year Comparison

	2024	2023	Change
Revenue	$742,596	$728,038	+0.0%
Expenses	$1,169,765	$1,044,527	+0.1%
Net Income	$-427,169	$-316,489	+0.3%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

$824,038

Total Directors

$824,038

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ETHAN KARP	PRESIDENT & DIRECTOR	1.00	Officer Director	$0	$37,193	$596,360
EDWARD KNEITEL	TREASURER & DIRECTOR (THROUGH 4/7/25)	1.00	Officer Director	$0	$14,160	$191,868
LEE CHILCOTE	SECRETARY & DIRECTOR	1.00	Officer Director	$0	$0	$0
THEODORE EINHORN	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT M SIMON	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL JACOBY	TREASURER & DIRECTOR (AS OF 4/7/25)	1.00	Officer Director	$0	$1,088	$35,810

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	$742,596	$1,169,765	$14,476,218	$-427,169
2024	No data	No data	No data	No data
2023	$2,427,747	$2,541,453	$15,424,945	$-113,706

MAGNET QALICB INC