NonprofitsMoney Magnets Club

Youth Development

Money Magnets Club

CHARLOTTE, NC

Total revenue

$262K

Total expenses

$113K

Net assets

$226K

Grants received

$189K

6 grants

EIN

871776021

Tax year

2024

Mission

To serve as a community that encourages entrepreneurship and financial literacy among elementary school kids and their responsible adults through education, exposure, and resources, to build generational wealth.

Financials

FY 2024

Revenue

Contributions & grants$233K
Program service revenue$26K
Investment income$5K
Other revenue
Total revenue$262K

Expenses

Grants paid
Salaries & benefits$44K
Fundraising$11K
Other expenses$69K
Total expenses$113K
Total assets$226K
Net assets$226K

People

11 listed

NameRoleCompensation

Alexandra Arrington

Executive Dir.

Board

$26K

40 hrs/wk

Rashaan Peek

Chairman

Board

5 hrs/wk

Mackenzie Wilkins

Vice President

Board

5 hrs/wk

Teresa Cain

Secretary

Board

5 hrs/wk

LaToya Lowery

Treasurer

Board

5 hrs/wk

Yolanda McCormick

Director

Board

5 hrs/wk

Jana Sanders

Director

Board

5 hrs/wk

Ricky Robinson

Director

Board

5 hrs/wk

Jelani Hill

Director

Board

5 hrs/wk

Ayesha Murphy

Director

Board

5 hrs/wk

K Alexander Roper

Director

Board

5 hrs/wk

Grants received

Showing 6 of 6

FromAmountPurposeYear
$15K
FINANCIAL LITERACY FACILITATOR CORPS INTERNSHIP PROGRAM
2024
$101K
PROGRAM OPERATING COST
2023
$14K
GENERAL SUPPORT
2023
$6K
CHARITABLE GIFT
2023
$48K
PROGRAM OPERATING COST
2022

Funded by

$189K from 5 funders · 6 grants · 2022–2024

United Way Of Greater Charlotte Inc

$149K · 2 grants · 2022–2023

Ally Charitable Foundation

$15K · 1 grant · 2024

Carolinas Credit Union Foundation

$14K · 1 grant · 2023

Foundation For The Carolinas

$6K · 1 grant · 2023

The LendingTree Foundation

$5K · 1 grant · 2023

Details

EIN871776021
NTEE codeO53
Subsection03
Ruling date2022-12
Formed2019
Employees3
Volunteers25
MONEY MAGNETS CLUB — Mission, Financials & Grants Received | Grantivo