Nonprofit · EIN 47-5585810
MAGNOLIA HERITAGE ACADEMY
Tax-exempt · MAGNOLIA, TX 77355
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,151,204 | $1,162,440 | -$11,236 | $106,396 | $50,817 | $55,579 |
| December 31, 2023 | 990 | $874,278 | $864,456 | $9,822 | $85,346 | $18,531 | $66,815 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $201,137
- Program service revenue
- $947,868
- Investment income
- $2,199
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $67,200
- Other salaries and wages
- $571,701
- Salaries, compensation and benefits (total)
- $684,480
- Professional fundraising fees
- $0
- Accounting fees
- $1,107
- Occupancy
- $337,063
- Depreciation
- $289
- Program services (functional)
- $1,088,360
- Management and general (functional)
- $42,172
- Fundraising (functional)
- $31,908
Balance sheet and other
- Total assets, start of year
- $85,346
- Total assets, end of year
- $106,396
- Total liabilities, end of year
- $50,817
- Net assets, end of year
- $55,579
- Land, buildings and equipment
- $38,383
- Gross unrelated business income
- $2,199
- Gross receipts
- $1,151,204
- Employees
- 32
- Volunteers
- 0
- Year formed
- 2015
- State of legal domicile
- TX
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 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Morgan Honeycutt | Director Officer | 40 | $67,200 |
| Terri Burton | Director Officer | 10 | $0 |
| Brandy Williams | Director Officer | 15 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MORGAN HONEYCUTT | DIRECTOR Officer | 40 | $62,350 |
| TERRI BURTON | DIRECTOR Officer | 10 | $0 |
| BRANDY WILLIAMS | DIRECTOR Officer | 15 | $0 |
Address and contacts
- Address (IRS master file)
- 823 MAGNOLIA BLVD, MAGNOLIA, TX 77355-8547
- In care of
- % MORGAN HONEYCUTT
- Mailing address (990-N for 2018)
- 17210 Gold Panning Ct, Magnolia TX 77355
- Principal officer (990 for 2024)
- Morgan Honeycutt, 23245 Glenmont Estates Blvd, Magnolia, TX 77355
- Principal officer (990-N for 2018)
- Morgan Honeycutt, 17210 Gold Panning Ct, Magnolia TX 77355
- Signed the 990
- Morgan Honeycutt, President
- Phone
- (281) 389-5112
- Return prepared by
- Lauren Hale CPA LLC
Mission
Magnolia Heritage Academy is a homeschool hybrid campus. Our goal is to expand beyond traditional learning experiences with inspirational learning opportunities. At MHA, we believe in a partnership between teachers, parents, and students. We use Christian based curriculum and students attend three days a week.
Program accomplishments
- During the 2024 school year, we taught 191 students 3 days per week during 2024.Expenses $1,088,360 · revenue $947,868
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. 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 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 47-5585810
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $106,396
- Income (IRS master file)
- $1,151,204
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,151,204 | $1,162,440 | $106,396 | XML |
| 990 | December 2023 | $874,278 | $864,456 | $85,346 | XML |
| 990 | December 2022 | $704,117 | $673,483 | $68,795 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-EZ | December 2019 | – | – | – | IRS |
| 990-N for 2018 Officer: Morgan Honeycutt | December 31, 2018 | ≤ $50,000 receipts | – | – | e-Postcard |
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 47-5585810).
Questions about MAGNOLIA HERITAGE ACADEMY
- What is the EIN of MAGNOLIA HERITAGE ACADEMY?
- The employer identification number (EIN) of MAGNOLIA HERITAGE ACADEMY is 47-5585810.
- Is MAGNOLIA HERITAGE ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to MAGNOLIA HERITAGE ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MAGNOLIA HERITAGE ACADEMY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MAGNOLIA HERITAGE ACADEMY 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 HERITAGE ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MAGNOLIA HERITAGE ACADEMY?
- The 990 for the year ended December 31, 2024 names Morgan Honeycutt.
- Who are the officers and directors of MAGNOLIA HERITAGE ACADEMY?
- The 990 for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $67,200 (Morgan Honeycutt, Director).
- How much revenue does MAGNOLIA HERITAGE ACADEMY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,151,204, expenses of $1,162,440 and total assets of $106,396 at year end.
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