Magnalia Foundation
Nonprofit profile at a glance
- EIN
- 463267182
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2020
- Location
- Alpharetta, GA, USA
- Phone
- 7706419394
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Christianity
- Affiliation
- Christianity
Reported finances
- Revenue
- $118,610
- Expenses
- $83,267
- Assets
- $672,227
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Jerry Drisaldi (CEO)
- Richard Gruca (President)
People named in this filing
- Steve Pacitti
- Ricardo Alvarado
- Juan Hernandez
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Promote cultural, social, spiritual, and educational activities within the South East region of the United States
What it reported doing in 2024
The Foundation offsets the travel and lodging expenses of local middle school (6th-8th grade) boys, their counselors and chaperones to attend a week long summer leadership camp in Eastern Pennsylvania to foster and develop their leadership abilities, and their character, spirituality and fellowship. The leadership camp is an action-packed, one week overnight summer camp for entering 6th - 8th grade boys. The camp aims to help boys develop the skills and virtues necessary to be leaders. Each boy os placed on a team with about 10 other campers with whom he shares a cabin, attends activities, and competes in games. Every morning, campers attend a talk on a specific virtue, as well as classes on journalism, nature studies, great Americans, or military history. In the afternoons, boys compete in football, basketball, soccer, and dodgeball, followed by a refreshing swim. Each evening features a camp-wide activity ranging from capture the flag to a treasure hunt to t
Operating model
- Revenue model
- Donor-supported. 78% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 31
- Transparency & Controls: 92
- Accountability: 64
- Sustainability: 82
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 30.7%; rating input score 31
- Program expense ratio: 41.4%; rating input score 41
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- 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: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 29.8%; rating input score 82; 82nd percentile among comparable filings
- Total-asset coverage ratio: 8.07; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 11.8% per year; rating input score 100; 74th percentile among comparable filings
- Revenue growth: -1.5% per year; rating input score 0; 18th percentile among comparable filings
- Asset growth: 12.4% per year; rating input score 100; 72nd percentile among comparable filings
Details
- Where the money goes: 30.7% of revenue deployed · 41.4% of spending went to programs
- Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
- Programs: 6 filed program accomplishments · $34K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 17 of 17 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
- Moderate — Financial Efficiency: Program expense ratio scored 41/100.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Growth: Revenue growth scored 0/100.