Nonprofit · EIN 87-1776021
MONEY MAGNETS CLUB
Tax-exempt · CHARLOTTE, NC 28208
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $138,355 | $105,900 | $32,455 | $258,321 | – | $258,321 |
| December 31, 2024 | 990 | $262,394 | $113,011 | $149,383 | $225,866 | $0 | $225,866 |
| December 31, 2023 | 990-EZ | $117,915 | $53,528 | $64,387 | $76,483 | – | $76,483 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $118,937
- Program service revenue
- $22,094
- Net income from fundraising events
- -$8,961
- Other revenue
- $6,285
Expenses
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $56,466
- Professional fees and payments to contractors
- $8,974
- Occupancy
- $11,703
- Printing, publications and postage
- $2,086
- Other expenses
- $26,671
- Program services (functional)
- $73,403
Balance sheet and other
- Total assets, start of year
- $225,866
- Total assets, end of year
- $258,321
- Total liabilities, end of year
- –
- Net assets, end of year
- $258,321
- Cash, savings and investments
- $205,889
- Gross receipts
- $159,637
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-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Rashaan Peek | Chairman | 5 | $0 |
| Mackenzie Wilkins | Vice President | 5 | $0 |
| Teresa Cain | Director | 5 | $0 |
| LaToya Lowery | Treasurer | 5 | $0 |
| Yolanda McCormick | Director | 5 | $0 |
| Jana Sanders | Director | 5 | $0 |
| Ricky Robinson | Director | 5 | $0 |
| Alexandra Arrington | Executive Dir. | 40 | $0 |
| Jelani Hill | Director | 5 | $0 |
| Ayesha Murphy | Director | 5 | $0 |
| K Alexander Roper | Director | 5 | $0 |
990 for the year ended December 31, 2024: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Alexandra Arrington | Executive Dir. Trustee or director, Officer | 40 | $25,667 |
| Rashaan Peek | Chairman Trustee or director, Officer | 5 | $0 |
| Mackenzie Wilkins | Vice President Trustee or director, Officer | 5 | $0 |
| Teresa Cain | Secretary Trustee or director, Officer | 5 | $0 |
| LaToya Lowery | Treasurer Trustee or director, Officer | 5 | $0 |
| Yolanda McCormick | Director Trustee or director | 5 | $0 |
| Jana Sanders | Director Trustee or director | 5 | $0 |
| Ricky Robinson | Director Trustee or director | 5 | $0 |
| Jelani Hill | Director Trustee or director | 5 | $0 |
| Ayesha Murphy | Director Trustee or director | 5 | $0 |
| K Alexander Roper | Director Trustee or director | 5 | $0 |
990-EZ for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Alexandra Arrington | Executive Dir. | 5 | $16,000 |
| Steven L Stack | President | 5 | $0 |
| Free Nixon | Vice President | 5 | $0 |
| Teresa Cain | Secretary | 5 | $0 |
| LaToya Lowery | Treasurer | 5 | $0 |
| Ashley Wright | Director | 5 | $0 |
| Rashaan Peek | Director | 5 | $0 |
| Ricky Robinson | Director | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 2459 WILKINSON BLVD STE 310, CHARLOTTE, NC 28208-5674
- In care of
- % ALEXANDRA ARRINGTON
- Mailing address (990-N for 2022)
- 2459 Wilkinson Boulevard Suite 310, Charlotte NC 28208
- Principal officer (990-N for 2022)
- Alexandra Arrington, 2459 Wilkinson Boulevard Suite 310, Charlotte NC 28208
- Signed the 990-EZ
- Alexandra Arrington, Executive Director
- Phone
- (980) 284-3870
- Website
- www.moneymagnetsclub.org
- Return prepared by
- Attolero
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.
Program accomplishments
- 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 and fostering financial health and literacy. Our core programs continue to be strengthened and refined to support a variety of age groups. These programs are our kidpreneur-in-training, moneyTRAIN, Financial Literacy Facilitator Corps internship, and FinLit Kids/Families programs, as well as the collaborative _preneur conferenceExpenses $73,403
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 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 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 87-1776021
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O53)
- Assets (IRS master file)
- $258,321
- Income (IRS master file)
- $159,637
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $138,355 | $105,900 | $258,321 | IRS |
| 990 | December 2024 | $262,394 | $113,011 | $225,866 | IRS |
| 990-EZ | December 2023 | $117,915 | $53,528 | $76,483 | XML |
| 990-N for 2022 Officer: Alexandra Arrington | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
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 87-1776021).
Questions about MONEY MAGNETS CLUB
- What is the EIN of MONEY MAGNETS CLUB?
- The employer identification number (EIN) of MONEY MAGNETS CLUB is 87-1776021.
- Is MONEY MAGNETS CLUB tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to MONEY MAGNETS CLUB tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MONEY MAGNETS CLUB 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 MONEY MAGNETS CLUB due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MONEY MAGNETS CLUB last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who is the principal officer of MONEY MAGNETS CLUB?
- The 990-N for 2022 names Alexandra Arrington.
- Who are the officers and directors of MONEY MAGNETS CLUB?
- The 990-EZ for the year ended December 31, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does MONEY MAGNETS CLUB have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $138,355, expenses of $105,900 and total assets of $258,321 at year end.
Other nonprofits in CHARLOTTE
- URBANPROMISE CHARLOTTE EIN 47-2302870 · last filed 990 for 2025
- GIRL SCOUTS HORNETS NEST COUNCIL EIN 56-0563842 · last filed 990 for 2025
- YOUNG BLACK LEADERSHIP ALLIANCE EIN 26-2984776 · last filed 990 for 2025
- FREEDOM SCHOOL PARTNERS INC EIN 56-2169158 · last filed 990 for 2024
- BIG BROTHERS BIG SISTERS OF CENTRAL CAROLINAS EIN 56-2264009 · last filed 990 for 2025
- MINISTRY ALLIANCE EIN 54-1977670 · last filed 990 for 2025
- DO GREATER FOUNDATION INC EIN 82-3722201 · last filed 990 for 2024
- ONE 7 MINISTRIES EIN 26-3700660 · last filed 990 for 2025
All nonprofits in CHARLOTTE · North Carolina · Youth development