Magic Hat Thrift Shop Inc in Marblehead, Massachusetts (MA)
Table of contents:
| Magic Hat Thrift Shop Inc | |
| Employer Identification Number (EIN) | 320136377 |
| Name of Organization | Magic Hat Thrift Shop Inc |
| In Care of Name | Marblehead Veterans Middle School |
| Address | 217 Pleasant St, Marblehead, MA 01945-2251 |
| Subsection | Charitable Organization |
| Ruling Date | 06/2006 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $44,235 |
| Amount of Income | $125,634 |
| Form 990 Revenue Amount | $125,634 |
| National Taxonomy of Exempt Entities (NTEE) | Human Services - Multipurpose and Other: Thrift Shops |
Non-representatives - add comments:
Amount of income in 2014: $125,634 (it was $122,400 in 2013)
| Magic Hat Thrift Shop Inc: | $125,634 |
| Other organizations performing similar types of work: | $128,815 |
Assets in 2014: $44,235 (it was $85,577 in 2013)
| Magic Hat Thrift Shop Inc: | $44,235 |
| Other organizations performing similar types of work: | $51,025 |
Expenses in 2013: $162,119
| Magic Hat Thrift Shop Inc: | $162,119 |
| Other organizations performing similar types of work: | $115,376 |
Income to expenses ratio in 2013: 0.8
| Magic Hat Thrift Shop Inc: | 0.8 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 0.9%
| This organization: | 0.9% |
| Other organizations performing similar types of work: | 2.9% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||
| 2012 | 2013 | |
|---|---|---|
| Total revenue | $113,827 | $122,400 |
| Contributions, gifts, grants, and similar amounts received | $395 | $1,134 |
| Program service revenue including government fees and contracts | $113,432 | $121,266 |
| Membership dues and assessments | $0 | $0 |
| Investment income | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 |
| Other revenue | $0 | $0 |
| Total expenses | $91,338 | $162,119 |
| Total net assets | $54,077 | $14,358 |
| Excess/Deficit for the year | $22,489 | $-39,719 |
| Net assets or fund balances at beginning of year | $31,588 | $54,077 |
| Other changes in net assets or fund balances | $0 | $0 |
| Net assets or fund balances at end of year | $14,358 | |
| Balance Sheets | ||
| 2012 | 2013 | |
|---|---|---|
| Total assets | $77,584 | $85,577 |
| Total liabilities | $23,507 | $71,219 |
| Net assets or fund balances | $54,077 | $14,358 |
| Other Information | ||
| 2012 | 2013 | |
|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | |
| Were any significant changes made to the organizing or governing documents? | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No |
| Has the organization filed a Form 990-T for the year? | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | |
| Amount of political expenditures, direct or indirect | $0 | |
| Did the organization file Form 1120-POL for this year? | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | |
| Total amount involved | $0 | |
| Initiation fees and capital contributions | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public Support | $484,540 |
| Subtotal Support | $484,540 |
| Gifts, grants, contributions, and membership fees received | $484,540 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $484,540 |
| Public Support | $484,540 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Cradles To Crayons Inc | 155 North Beacon Street, Brighton, MA 02135-2049 | MA | 2002-06 | $10,601,535 |
| 2 | Community Aid Inc | 4833 Carlisle Pike, Mechanicsburg, PA 17050-3027 | PA | 2009-11 | $8,581,421 |
| 3 | Housing Works Used Book Cafe Inc | 57 Willoughby Street, Brooklyn, NY 11201-5257 | NY | 2010-06 | $5,744,037 |
| 4 | Atlanta Heights Charter School Inc | 3712 Martin Luther King Jr Dr Sw, Atlanta, GA 30331-3674 | GA | 2012-01 | $5,589,171 |
| 5 | United States Of America Chess Federation | PO BOX 3967, Crossville, TN 38557-3967 | TN | 2014-03 | $3,397,619 |
| 6 | Sharing Connections Inc | 5111 Chase Ave, Downers Grove, IL 60515-4012 | IL | 2000-09 | $2,521,643 |
| 7 | Vail Valley Cares Inc | PO BOX 1242, Edwards, CO 81632-1242 | CO | 2008-03 | $2,100,297 |
| 8 | Tabithas Way | 37 West 200 North, Spanish Fork, UT 84660 | UT | 2011-05 | $2,003,979 |
| 9 | Leeward Industries Inc | 51st St, Salisbury, MA 01952 | MA | 2009-06 | $854,841 |
| 10 | Valley Thrift Store Inc, Treasures | 82 Worcester Rd, N Grafton, MA 01536-1048 | MA | 2008-08 | $271,292 |
| 11 | Seawinds Charity Inc | 754 Chief Justice Cushing Hwy, Cohasset, MA 02025-2116 | MA | 2009-04 | $186,201 |
| 12 | St Vincentde Paul Exchange Store Inc | 1799 Pleasant St, Fall River, MA 02723-3022 | MA | 2010-05 | $153,215 |
| 13 | Keeping Pace With Multiple Miracles Inc | 194 S Main St, West Bridgewater, MA 02379-1770 | MA | 2008-08 | $142,728 |
| 14 | Ruths House Inc | 54 Merrimack Street, Haverhill, MA 01830-6239 | MA | 1995-10 | $140,601 |
| 15 | Magic Hat Thrift Shop Inc | 217 Pleasant St, Marblehead, MA 01945-2251 | MA | 2006-06 | $125,634 |
| 16 | Orleans Community Exchange Inc | PO BOX 2542, Orleans, MA 02653-6542 | MA | 2015-01 | $121,722 |
| 17 | Tailored For Success | 15 Washington Street South Po Box 527, Malden, MA 02148 | MA | 2001-01 | $40,996 |
| 18 | American Family Thrift Stores | 33 Alden Dr, Norwood, MA 02062-5325 | MA | 1993-06 | $13,458 |
| 19 | Treasured Possessions Consignment & Thrift Shop | 240 Congress St, Milford, MA 01757-1465 | MA | 2001-09 | $0 |
| 20 | Union & Fifth Inc | 223 Needham St, Newton, MA 02464 | MA | 2014-09 | $0 |
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