MAGIC BASKETBALL CLUB INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
MAGIC BASKETBALL CLUB INC (EIN 81-0595934)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-08-09
IRS object ID
202332219349301973
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-08-09T23:51:57-04:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN853547025PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1The Financial Interior LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line12618 Kramer Ln Unit 7075AddressLine1Txt
CityAustinCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78758ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN810595934EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MAGIC BASKETBALL CLUB INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMAGIBusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 170654AddressLine1Txt
CityAustinCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78717ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonTAMIE FELTYPersonNm
Person TitleCEO PRESIDENTPersonTitleTxt
Phone5128441091PhoneNum
Signature2023-08-04SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstTAMIEPersonFirstNm
Person LastFELTYPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonVictor Villalobos CPAPreparerPersonNm
PTINP02461109PTIN
Phone5129001826PhoneNum
Preparation2023-08-09PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
OOB Security Verification00OOBSecurityVerificationCd
Authentication Assurance LevelAAL2AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Gross Receipts$509,307GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization AssocYes (X)TypeOfOrganizationAssocInd
Formation2005FormationYr
Legal Domicile StateTXLegalDomicileStateCd
Activity Or MissionPromotes college and career readiness and positive mental and physical health habits for children through participation in the sport of basketball.ActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee2TotalEmployeeCnt
Total Volunteers5TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$302,214PYContributionsGrantsAmt
CY Contributions Grants$509,307CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$302,214PYTotalRevenueAmt
CY Total Revenue$509,307CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$27,247PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$48,497CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$272,677PYOtherExpensesAmt
CY Other Expenses$360,641CYOtherExpensesAmt
PY Total Expenses$299,924PYTotalExpensesAmt
CY Total Expenses$409,138CYTotalExpensesAmt
PY Revenues Less Expenses$2,290PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$100,169CYRevenuesLessExpensesAmt
Total Assets BOY$23,821TotalAssetsBOYAmt
Total Assets EOY$125,030TotalAssetsEOYAmt
Total Liabilities EOY$1,040TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$23,821NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$123,990NetAssetsOrFundBalancesEOYAmt
MissionPromotes college and career readiness and positive mental and physical health habits for children through participation in the sport of basketball.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$391,798ExpenseAmt
DescIn 2022, the Magic Basketball Club widely expanded its programs and grew to allow more kids from the Austin, Texas and surrounding areas to participate.Desc
Total Program Service Expenses$391,798TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document48IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee2EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledfalseForm1098CFiledInd
DAF Excess Business HoldingsfalseDAFExcessBusinessHoldingsInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherYes (true)CompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonTAMIE FELTYPersonNm
Phone5128441091PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 170654AddressLine1Txt
CityAustinCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78717ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
AMY BURNETT
COO EXEC DIRECTOR10.000.00Yes (X)Yes (X)$22,900$0$0
TAMIE FELTY
CEO PRESIDENT15.000.00Yes (X)Yes (X)$22,150$0$0
EDDIE MARTINEZ
TREASURER2.000.00Yes (X)Yes (X)$0$0$0
MONICA MARTINEZ
SECRETARY1.000.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$45,050TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$509,307AllOtherContributionsAmt
Total Contributions$509,307TotalContributionsAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$509,307TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$45,050TotalAmt
Program Services$45,050ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$3,447TotalAmt
Program Services$3,447ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$1,841TotalAmt
Management And General$1,841ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$197,234TotalAmt
Program Services$197,234ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$4,267TotalAmt
Program Services$3,518ProgramServicesAmt
Management And General$749ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$8,617TotalAmt
Management And General$8,617ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$95,191TotalAmt
Program Services$95,191ProgramServicesAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$1,016TotalAmt
Management And General$1,016ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$2,771TotalAmt
Program Services$2,771ProgramServicesAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
Uniforms expenses$33,748$33,748
Events & training expenses$10,839$10,839
Other operating expenses$5,117$5,117

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$409,138TotalAmt
Program Services$391,798ProgramServicesAmt
Management And General$17,340ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$20,393BOYAmt
EOY$96,602EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
EOY$25,000EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$3,428BOYAmt
EOY$3,428EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$23,821BOYAmt
EOY$125,030EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
EOY$1,040EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$1,040EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$23,821BOYAmt
EOY$123,990EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$23,821BOYAmt
EOY$123,990EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$23,821BOYAmt
EOY$125,030EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$100,169ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$209,898CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$249,442CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$211,214CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$326,717CurrentTaxYearMinus1YearAmt
Current Tax Year$509,307CurrentTaxYearAmt
Total$1,506,578TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$209,898CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$249,442CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$211,214CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$326,717CurrentTaxYearMinus1YearAmt
Current Tax Year$509,307CurrentTaxYearAmt
Total$1,506,578TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$1,506,578PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$209,898CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$249,442CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$211,214CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$326,717CurrentTaxYearMinus1YearAmt
Current Tax Year$509,307CurrentTaxYearAmt
Total$1,506,578TotalAmt
FieldValueIRS element (for citing)
Public Support CY5091.00000PublicSupportCY509Pct
Public Support PY5091.00000PublicSupportPY509Pct
Investment Income CY0.00000InvestmentIncomeCYPct
Investment Income PY0.00000InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule D IRS990ScheduleD

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Officer directors etc family relationship Part VI line 2One of the board members is a sister to the Executive Director.
Form 990 governing body review Part VI line 11The governing documents allow the Executive Director to review Form 990 before it is filed and does not require the members of the Board of Directors to also review.
Conflict of interest policy compliance Part VI line 12cThe organization has adopted a conflict of interest policy.
CEO executive director top management comp Part VI line 15aCompensation is based on local market comparisons for the position and approved by the Board of Directors, in writing through the minutes of the meeting.
Other officer or key employee compensation Part VI line 15bCompensation is based on local market comparisons for the position and approved by the Board of Directors, in writing through the minutes of the meeting.
Governing documents etc available to public Part VI line 19Members of the general public who wish to see the governing documents of the organization should either call or email the Executive Director to request copies.
List of other fees for services expenses Part IX line 11gFees for services included coaches and similar contractors for assisting and training with our club participants.

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