MONEY MAGNETS CLUB Charity Report

Public IRS 990 nonprofit record

MONEY MAGNETS CLUB

EIN 87-1776021 · Youth Development - Business (O53)

What they do

Programs & People Served: A Total of 28 Multi-session Programs Were Offered, Reaching 303 Kids and Families! The Organization Formed 3 New Partnerships to Extend Its Reach and Impact Across Charlotte-Mecklenburg. Community Engagement: 15 Community Activations and Collaborative Offerings With Other Organizations Were Held, and We Hosted or Co-hosted 9 Special Programs to Serve A Wider Cross-section of The Charlotte Community, Including FinLit Families and National Night Out. Financial Overview/Fiscal Strategy: Our Approach Emphasized Careful Growth and Fiscal Responsibility In 2025 to Ensure Meaningful Program Experiences While Maintaining Reserve Funding for At Least One Year of Lean Operations With The Tightening Economic Climate and A Downturn In Charitable Giving. Fundraising Goals: We Exceeded Our $155,000 Annual Fundraising Goal Through Grants, Increasing Earned and Program Revenue, and Generous Donations From Individuals As Passionate As We Are About Entrepreneurship Exploration

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $69.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2025The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders11 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

53.05%of revenue went to mission work69.3% of expenses · Program services

$76.54spent for every $100 of revenueRevenue covered expenses this year.

$2.44in assets for every $1 spent this yearSome assets cannot be spent right away.

86.0%of its money came from giftsOther money may come from services or investments.

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Is this really the charity? Give only through its official website or confirmed phone number.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2025

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$138,355

Mission workProgram services$73,40353.05% of revenue69.3% of expenses

ManagementOffice and general costs0.00% of revenue0.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$32,45523.46% of revenueShown in gray on the chart

Total expenses$105,90076.54% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2025CurrentExpense mix: 69.3% mission · 0.0% management · 0.0% fundraisingTotal expenses: 76.54% of revenue

2024Expense mix: 49.9% mission · 40.2% management · 10.0% fundraisingTotal expenses: 43.07% of revenue

2023Expense mix: 61.9% mission · 0.0% management · 0.0% fundraisingTotal expenses: 45.40% of revenue

Money in and money out

Revenue$138,355

Expenses$105,900

Annual surplus $32,455 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$73,403 · 69.3% of expenses

See all reported dollar amounts

Revenue$138,355

Expenses$105,900

Assets$258,321

Income$159,637

Contributions$118,937

Mission work (program services)$73,403

People

Leadership and board

Tax year 2025

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (11)

ALEXANDRA ARRINGTONEXECUTIVE DIR.

AYESHA MURPHYDIRECTOR

JANA SANDERSDIRECTOR

JELANI HILLDIRECTOR

K ALEXANDER ROPERDIRECTOR

LATOYA LOWERYTREASURER

MACKENZIE WILKINSVICE PRESIDENT

RASHAAN PEEKCHAIRMAN

RICKY ROBINSONDIRECTOR

TERESA CAINDIRECTOR

YOLANDA MCCORMICKDIRECTOR

About this charity

Recognized since: January 2022
Location: 2459 WILKINSON BLVD STE 310, CHARLOTTE, NC 28208-5674
County: Mecklenburg
In care of: % ALEXANDRA ARRINGTON
Primary officer: Alexandra Arrington, Executive Director

How to reach them

WebsiteVisit the charity’s website Phone(980) 284-3870

Filing and classification

Latest tax year: 2025
Tax period began: January 1, 2025
Return type: 990EZ
Tax preparer: ATTOLERO
NTEE classification: Youth Development - Business (O53)
IRS tax category: Youth Development - Business