Nonprofit · EIN 76-0611545
MAGNOLIA HOLDING COMPANY
Also known as WORTHEN CHARLES A
Tax-exempt · GALVESTON, TX 77550
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | -$547,883 | -$547,883 | $0 | $13,509,181 | $6,375 | $13,502,806 |
| December 31, 2023 | 990 | -$1,071,083 | -$1,071,083 | $0 | $13,516,950 | $14,144 | $13,502,806 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $8,756
- Net rental income
- -$556,639
- Other revenue
- -$556,639
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
Balance sheet and other
- Total assets, start of year
- $13,516,950
- Total assets, end of year
- $13,509,181
- Total liabilities, end of year
- $6,375
- Net assets, end of year
- $13,502,806
- Land, buildings and equipment
- $10,177,794
- Gross receipts
- $8,756
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1999
- 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 | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DOUGLAS G ROGERS | EXEC DIR/SEC/TREAS Trustee or director, Officer | 0 | $0 | $426,538 | $45,582 |
| JAMES S JOBE | ASST SEC/TREASURER Officer | 0 | $0 | $176,574 | $33,671 |
| GLADYS STANSBERRY | ASST TREASURER Officer | 0 | $0 | $106,004 | $15,631 |
| JOHN W KELSO | PRESIDENT/DIRECTOR Trustee or director, Officer | 0 | $0 | $72,000 | $0 |
| MICHAEL C DOHERTY | VICE-PRESIDENT/DIRECTOR Trustee or director, Officer | 0 | $0 | $72,000 | $0 |
| E J PEDERSON | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| KEITH BASSETT | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| WILLIAM R SEALY | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| JAMES B GALBRAITH | DIRECTOR Trustee or director | 0 | $0 | $66,000 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DOUGLAS G ROGERS | EXEC DIR/SEC/TREAS Trustee or director, Officer | 0 | $0 | $395,429 | $54,059 |
| JAMES S JOBE | ASST SEC/TREASURER Officer | 0 | $0 | $169,834 | $32,458 |
| GLADYS STANSBERRY | ASST TREASURER Officer | 0 | $0 | $117,796 | $21,388 |
| JOHN W KELSO | PRESIDENT/DIRECTOR Trustee or director, Officer | 0 | $0 | $72,000 | $0 |
| MICHAEL C DOHERTY | VICE-PRESIDENT/DIRECTOR Trustee or director, Officer | 0 | $0 | $72,000 | $0 |
| JAMES B GALBRAITH | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| E J PEDERSON | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| KEITH BASSETT | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
| WILLIAM R SEALY | DIRECTOR Trustee or director | 0 | $0 | $72,000 | $0 |
Address and contacts
- Address (IRS master file)
- 2200 MARKET ST STE 500, GALVESTON, TX 77550-1532
- In care of
- % THE SEALY & SMITH FOUNDATION
- Principal officer (990 for 2024)
- DOUGLAS G ROGERS, 2200 MARKET STREET SUITE 500, GALVESTON, TX 77550
- Signed the 990
- DOUGLAS G ROGERS, EXECUTIVE DIRECTOR
- Phone
- (409) 762-8666
- Return prepared by
- HAM LANGSTON & BREZINA LLP
Mission
HOLDING TITLE TO PROPERTY, COLLECTING THE INCOME THEREFROM, AND TURNING OVER THE ENTIRE AMOUNT LESS EXPENSES TO THE SEALY & SMITH FOUNDATION.
Program accomplishments
- N/A
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. 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
- 76-0611545
- Tax-exempt status
- 501(c)(2): Title-holding corporation
- Donations deductible
- No
- Exempt since
- 2000
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S47)
- Assets (IRS master file)
- $13,509,181
- Income (IRS master file)
- $8,756
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | -$547,883 | -$547,883 | $13,509,181 | XML |
| 990 | December 2023 | -$1,071,083 | -$1,071,083 | $13,516,950 | XML |
| 990 | December 2022 | -$568,091 | -$568,091 | $12,767,252 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 76-0611545).
Questions about MAGNOLIA HOLDING COMPANY
- What is the EIN of MAGNOLIA HOLDING COMPANY?
- The employer identification number (EIN) of MAGNOLIA HOLDING COMPANY is 76-0611545.
- Is MAGNOLIA HOLDING COMPANY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(2) since 2000.
- Are donations to MAGNOLIA HOLDING COMPANY tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MAGNOLIA HOLDING COMPANY file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of MAGNOLIA HOLDING COMPANY 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 HOLDING COMPANY 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 HOLDING COMPANY?
- The 990 for the year ended December 31, 2024 names DOUGLAS G ROGERS.
- Who are the officers and directors of MAGNOLIA HOLDING COMPANY?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does MAGNOLIA HOLDING COMPANY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of -$547,883, expenses of -$547,883 and total assets of $13,509,181 at year end.
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