MAGNOLIA EDUCATIONAL AND RESEARCH … - Form 990 Financial Data

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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

CAFER TURAN

Phone

7148925066

Tax Period

2024-07-01 to 2025-06-30

MAGNOLIA EDUCATIONAL AND RESEARCH FOUNDATION, founded in 2005, is a mid-sized nonprofit in the Education sector that reported $86.4M in total revenue in fiscal year 2024.

Mission

MAGNOLIA PUBLIC SCHOOLS PROVIDES A COLLEGE PREPARATORY EDUCATIONAL PROGRAM EMPHASIZING SCIENCE, TECHNOLOGY, ENGINEERING, ARTS, AND MATHEMATICS (STEAM) IN A SAFE ENVIRONMENT THAT CULTIVATES RESPECT FOR SELF AND OTHERS.

Program Service Accomplishments

Program 1

Expenses: $54,642,205

MAGNOLIA EDUCATIONAL AND RESEARCH FOUNDATION (MERF) OPERATES TEN MAGNOLIA SCIENCE ACADEMIES (MSA) SERVING 3,794 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE THROUGHOUT CALIFORNIA. THE ORGANIZATION IS DEDICATED TO INSPIRING STUDENTS TO CHOOSE CAREER PATHS IN SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH (STEM), WHILE PROVIDING A ROBUST, STANDARDS-BASED EDUCATION PROGRAM WITHIN A SUPPORTIVE CULTURE OF EXCELLENCE. TO ENSURE STUDENTS HAVE THE TOOLS TO SUCCEED, THE ORGANIZATION OFFER THE FOLLOWING PROGRAMS, WHICH ARE MOSTLYFREE OF CHARGE:-ACADEMIC PROGRAMS-STUDENT SUPPORT PROGRAMS-AFTER SCHOOL PROGRAMS-PARENT INVOLVEMENT 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $86,261,072

Program Service Revenue $0

Investment Income $103,467

Other Revenue $0

TOTAL REVENUE $86,364,539

Expense Breakdown

Grants Paid $478,327

Salaries & Benefits $57,076,871

Fundraising Expenses $0

Program Expenses $54,642,205

Other Expenses $26,884,400

TOTAL EXPENSES $84,439,598

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,364,539	$84,399,638	+0.0%
Expenses	$84,439,598	$78,564,322	+0.1%
Net Income	$1,924,941	$5,835,316	-0.7%

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

615

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

$506,257

Total Directors

Key Employees

$434,216

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SANDRA COVARRUBIAS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
MEKAN MUHAMMEDOV	CHAIR	2.00	Officer Director	$0	$0	$0
UMIT YAPENEL PHD	DIRECTOR	2.00	Director	$0	$0	$0
DIANE GONZALEZ	DIRECTOR	2.00	Director	$0	$0	$0
SALIH DIKBAS PH D	DIRECTOR	2.00	Director	$0	$0	$0
ALFREDO RUBALCAVA	CEO	40.00	Officer	$267,271	$20,292	$287,563
STEVE BUDHRAJA	CHIEF FINANCIAL OFFICER	40.00	Officer	$205,166	$13,528	$218,694
ERDINC ACAR	DEPUTY SUPERINTENDENT	40.00	Key Emp	$215,350	$20,292	$235,642
GOKHAN SERCE	CHIEF ACADEMIC OFFICER	40.00	Key Emp	$187,492	$11,082	$198,574
PATRICK ANTON ONTIVEROS	CHIEF FACILITY OFFICER	40.00	Highest	$197,612	$20,292	$217,904
SUAT ACAR	CHIEF OPERATING OFFICER	40.00	Highest	$200,653	$20,292	$220,945
DAVID E YILMAZ	CHIEF ACCOUNTABILITY OFFICER	40.00	Highest	$194,024	$20,292	$214,316
DR BRENDA OLIVARES	CHIEF EXTERNAL OFFICER	40.00	Highest	$169,615	$20,292	$189,907
YEZENIA DEL CARPIO	CHIEF PEOPLE OFFICER	40.00	Highest	$181,791	$28,354	$210,145

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	$86,364,539	$84,439,598	$100,711,421	$1,924,941
2024	$84,399,638	$78,564,322	$76,058,129	$5,835,316
2023	$31,976,044	$76,945,341	$69,109,481	$-44,969,297
2022	$66,230,945	$62,131,487	$67,129,472	$4,099,458
2021	$63,609,344	$50,824,459	$60,566,625	$12,784,885
2020	$51,334,434	$49,147,443	$54,570,182	$2,186,991
2019	$47,041,355	$46,917,362	$45,409,410	$123,993
2018	$48,888,566	$43,212,386	$42,695,173	$5,676,180

MAGNOLIA EDUCATIONAL AND RESEARCH FOUNDATION