Magic Bus USA

Nonprofit profile at a glance

EIN
273053614
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Houston, TX, USA
Phone
8327759000
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$1,746,724
Expenses
$2,650,421
Assets
$5,155,852
Liabilities
$295,877

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • SARAH CURRID (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SARAH CURRID (EXECUTIVE DIRECTOR): $41,934 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Magic bus works with marginalized children and youth in india and ecosystem around them to help break the cycle of social and economic deprivation using sport and activity based approaches that include mentoring as a tool and are founded on the principle of human rights, promoting education, health, gender, equality and sustainable livelihoods.

What it reported doing in 2024

Magic bus envisions a world where marginalized youth in india and across south asia are provided the opportunities to break the cycle of inherited poverty. We do this by teaching essential life skills, supporting students with academic challenges, providing employability education, and connecting our program participants to work which enables them to thrive in their transition to adulthood.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 77
  • Accountability: 95
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.8%; rating input score 95
  • Fundraising efficiency: $22.92 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -51.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.95; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 11.6% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 16% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 25.9% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $42K · 7 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and foreign activity
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.