Nonprofit · EIN 45-4683724
MAGNOLIA PROPERTIES MANAGEMENT INC
Tax-exempt · LOS ANGELES, CA 90012
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $604,452 | $7,039,867 | -$6,435,415 | $125,639,592 | $71,293,616 | $54,345,976 |
| June 30, 2024 | 990 | $1,504,503 | $2,715,704 | -$1,211,201 | $107,034,266 | $52,404,012 | $54,630,254 |
| June 30, 2023 | 990 | $53,423,196 | $2,398,257 | $51,024,939 | $109,166,001 | $55,573,919 | $53,592,082 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $478,327
- Program service revenue
- $4,807,390
- Investment income
- $149,461
- Other revenue
- -$4,830,726
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Occupancy
- $235,000
- Depreciation
- $859,565
- Program services (functional)
- $6,961,192
- Management and general (functional)
- $78,675
Balance sheet and other
- Total assets, start of year
- $107,034,266
- Total assets, end of year
- $125,639,592
- Total liabilities, end of year
- $71,293,616
- Net assets, end of year
- $54,345,976
- Land, buildings and equipment
- $42,198,693
- Publicly traded securities
- $11,613,448
- Net assets without donor restrictions
- $54,345,976
- Gross receipts
- $604,452
- Employees
- 0
- Volunteers
- 1
- Year formed
- 2012
- State of legal domicile
- CA
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ALFREDO RUBALCAVA | CEO Officer | 2 | $0 | $267,271 | $20,292 |
| ERDINC ACAR | DEPUTY SUPERINTENDENT Officer | 2 | $0 | $215,350 | $20,292 |
| STEVE BUDHRAJA | CFO/TREASURER Officer | 2 | $0 | $205,166 | $13,528 |
| PATRICK ONTIVEROS | SECRETARY Officer | 2 | $0 | $197,612 | $20,292 |
| RABBI HAIM BELIAK | DIRECTOR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| MEKAN MUHAMMEDOV | CHAIR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| SANDRA COVARRUBIAS | DIRECTOR Trustee or director, Officer | 2 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ALFREDO RUBALCAVA | CEO Officer | 2 | $0 | $255,694 | $18,663 |
| ERDINC ACAR | DEPUTY SUPERINTENDENT Trustee or director, Officer | 2 | $0 | $190,890 | $18,663 |
| STEVE BUDHRAJA | CFO Officer | 2 | $0 | $187,269 | $12,442 |
| RABBI HAIM BELIAK | CHAIR Trustee or director, Officer | 2 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| ALFREDO RUBALCAVA | CEO Officer | 2 | $0 | $248,000 | $19,572 |
| ERDINC ACAR | DEPUTY SUPERINTENDENT Trustee or director, Officer | 2 | $0 | $176,038 | $19,572 |
| STEVE BUDHRAJA | CFO- Officer | 2 | $0 | $171,423 | $13,077 |
| RABBI HAIM BELIAK | CHAIR Trustee or director, Officer | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 250 E 1ST ST STE 1500, LOS ANGELES, CA 90012-3831
- Principal officer (990 for 2024)
- CAFER TURAN, 250 E 1ST ST 1500, LOS ANGELES, CA 90012
- Signed the 990
- CAFER TURAN, INTERIM CFO
- Phone
- (714) 892-5066
- Return prepared by
- EIDE BAILLY LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 45-4683724 or by the name MAGNOLIA PROPERTIES MANAGEMENT INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
TO PROVIDE EDUCATIONAL FACILITIES FOR THE MAGNOLIA PUBLIC SCHOOLS
Program accomplishments
- TO OWN, LEASE AND FINANCE EDUCATIONAL FACILITIES FOR THE CHARTER SCHOOLS OPERATED BY MAGNOLIA PUBLIC SCHOOLS.Expenses $6,961,192 · revenue $4,807,390
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 45-4683724
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2012
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B12)
- Assets (IRS master file)
- $125,639,592
- Income (IRS master file)
- $604,452
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $604,452 | $7,039,867 | $125,639,592 | IRS |
| 990 | June 2024 | $1,504,503 | $2,715,704 | $107,034,266 | XML |
| 990 | June 2023 | $53,423,196 | $2,398,257 | $109,166,001 | XML |
| 990 | June 2022 | $2,307,270 | $2,486,971 | $30,634,440 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | 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 45-4683724).
Questions about MAGNOLIA PROPERTIES MANAGEMENT INC
- What is the EIN of MAGNOLIA PROPERTIES MANAGEMENT INC?
- The employer identification number (EIN) of MAGNOLIA PROPERTIES MANAGEMENT INC is 45-4683724.
- Is MAGNOLIA PROPERTIES MANAGEMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2012.
- Are donations to MAGNOLIA PROPERTIES MANAGEMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does MAGNOLIA PROPERTIES MANAGEMENT INC 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 PROPERTIES MANAGEMENT INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MAGNOLIA PROPERTIES MANAGEMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of MAGNOLIA PROPERTIES MANAGEMENT INC?
- The 990 for the year ended June 30, 2025 names CAFER TURAN.
- Who are the officers and directors of MAGNOLIA PROPERTIES MANAGEMENT INC?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does MAGNOLIA PROPERTIES MANAGEMENT INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $604,452, expenses of $7,039,867 and total assets of $125,639,592 at year end.
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