Nonprofit · EIN 47-4614706
MAGNOLIA ART XCHANGE INC
Tax-exempt · OCALA, FL 34470
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-EZ | $24,290 | $33,018 | -$8,728 | $110,574 | $115 | $110,459 |
| December 31, 2023 | 990-EZ | $35,739 | $31,501 | $4,238 | $119,720 | $533 | $119,187 |
Financial details: 990-EZ for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $19,449
- Investment income
- $4,841
Expenses
- Grants and similar amounts paid
- $4,013
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $16,661
- Professional fees and payments to contractors
- $2,300
- Printing, publications and postage
- $383
- Other expenses
- $9,661
- Program services (functional)
- $26,933
Balance sheet and other
- Total assets, start of year
- $119,720
- Total assets, end of year
- $110,574
- Total liabilities, end of year
- $115
- Net assets, end of year
- $110,459
- Cash, savings and investments
- $109,206
- Gross receipts
- $24,290
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BARBARA FITOS | PRESIDENT | 0 | $0 |
| OLIVIA ORTIZ | DIRECTOR | 0 | $0 |
| GREG WESOLOWSKI | VP | 0 | $0 |
| HEIDI GREGORI | TREASURER | 0 | $0 |
| JAMES MARTIN | DIRECTOR | 0 | $0 |
| DARIAN MOSLEY | SECRETARY | 0 | $0 |
| CHRIS HERSCHBERGER | DIRECTOR | 0 | $0 |
| HOLLY YOCUM | DIRECTOR | 0 | $0 |
| MALCOLM OMARI DAVIS | DIRECTOR | 0 | $0 |
| HEIDI GREGORI | DIRECTOR | 0 | $0 |
| EMILY PARKMAN | DIRECTOR | 0 | $0 |
| ANDREAS GARCIA | DIRECTOR | 0 | $0 |
990-EZ for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Jessi Miller | Director | 0 | $0 |
| Barbara Fitos | President | 0 | $0 |
| Victoria Billig | Director | 0 | $0 |
| Shannon Moore | Director | 0 | $0 |
| Olivia Ortiz | Director | 0 | $0 |
| Greg Wesolowski | Vice President | 0 | $0 |
| Katrina Neumann | Treasurer | 0 | $0 |
| Cody Clifton | Director | 0 | $0 |
| Caly Bryant | Director | 0 | $0 |
| James Martin | Director | 0 | $0 |
| Lisa Anderson | Director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 531 NE 1ST AVE, OCALA, FL 34470-6647
- In care of
- % MELISSA TOWNSEND
- Signed the 990-EZ
- BARBARA FITOS, PRESIDENT
- Phone
- (352) 207-9067
- Website
- WWW.MAXOCALA.ORG
- Return prepared by
- H2 ADVISORS
Mission
THE MAGNOLIA ART EXCHANGE, INC. WILL PROVIDE OPPORTUNITIES FOR ART APPRECIATION AND EDUCATION BY PROVIDING WORKING ART STUDIOS, INSTRUCTIONAL SPACES, AND EXHIBITION OPPORTUNITIES FOR VISUAL ARTISTS IN A COLLABORATIVE HUB THAT ENCOURAGES PROFESSIONAL DEVELOPMENT. OBJECTIVES ARE TO CONTRIBUTE TO THE CULTURAL, EDUCATIONAL, AND ECONOMIC VITALITY OF OCALA/MARION COUNTY BY: SUPPORTING THE PROFESSIONAL GROWTH AND EDUCATION OF ARTISTS, ENHANCING AND EXPANDING THE CULTURAL CAMPUS LOCATED WITHIN OCALA'S CENTRAL BUSINESS DISTRICT, PROVIDING CITIZENS AND VISITORS WITH THE OPPORTUNITY TO ENGAGE ARTISTS, LEARN AND VIEW THE PROCESS FOR CREATING FINE ART, AND EXPERIENCE THE INTERSECTION OF ART AND COMMUNITY, SUPPORTING THE COMMUNITY'S COMMITMENT TO THE ARTS AND SUPPORTING THE CITY OF OCALA'S ECONOMIC GOALS BY DRAWING VISITORS AND RESIDENTS TO THE CENTRAL BUSINESS DISTRICT AND TO RETAIL AND COMMERCIAL ESTABLISHMENTS.
Program accomplishments
- DURING 2019 THE MAGNOLIA ART EXCHANGE, INC'S LARGEST ACCOMPLISHMENT HAS BEEN DEVELOPING IT'S MARKETING PLAN AND PUTTING INFRASTRUCTURE IN PLACE TO REACH IT'S FUTURE FUNDRAISING GOALS AND IMPLEMENT PARTNERSHIPS WITHIN OUR COMMUNITY. THE 2019 EXPENSES HAVE BEEN FOR GENERAL BUSINESS AND ADMINISTRATIVE ITEMS. THERE WERE NO PROGRAM RELATED REVENUE AND/OR EXPENSES.Expenses $26,933
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 47-4614706
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Arts, culture and humanities (A99)
- Assets (IRS master file)
- $110,574
- Income (IRS master file)
- $24,290
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2024 | $24,290 | $33,018 | $110,574 | XML |
| 990-EZ | December 2023 | $35,739 | $31,501 | $119,720 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-EZ | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-4614706).
Questions about MAGNOLIA ART XCHANGE INC
- What is the EIN of MAGNOLIA ART XCHANGE INC?
- The employer identification number (EIN) of MAGNOLIA ART XCHANGE INC is 47-4614706.
- Is MAGNOLIA ART XCHANGE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to MAGNOLIA ART XCHANGE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MAGNOLIA ART XCHANGE INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of MAGNOLIA ART XCHANGE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MAGNOLIA ART XCHANGE INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2024.
- Who are the officers and directors of MAGNOLIA ART XCHANGE INC?
- The 990-EZ for the year ended December 31, 2024 lists 12 people; 0 received compensation from the organization.
- How much revenue does MAGNOLIA ART XCHANGE INC have?
- On its 990-EZ for the year ended December 31, 2024 it reported revenue of $24,290, expenses of $33,018 and total assets of $110,574 at year end.
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All nonprofits in OCALA · Florida · Arts, culture and humanities