Nonprofit · EIN 93-2642865
MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · JACKSON, MS 39206
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $274,525 | $130,706 | $143,819 | $143,819 | $0 | $143,819 |
| December 31, 2024 | 990-EZ | $100,500 | $57,527 | $42,973 | $42,973 | $0 | $42,973 |
| December 31, 2023 | 990-EZ | $0 | $0 | $0 | $0 | $0 | $0 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $274,525
- of which government grants
- $274,525
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $115,533
- Salaries, compensation and benefits (total)
- $115,533
- Professional fundraising fees
- $0
- Management and general (functional)
- $130,706
Balance sheet and other
- Total assets, start of year
- $0
- Total assets, end of year
- $143,819
- Total liabilities, end of year
- $0
- Net assets, end of year
- $143,819
- Net assets without donor restrictions
- $143,819
- Gross receipts
- $274,525
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2023
- State of legal domicile
- MS
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Clara Beauman | Secretary | 1 | $0 |
| Michael Waylett | President Officer | 1 | $0 |
| Grayland Fredricks | Vice President Officer | 1 | $0 |
| Robert Metzger | Incorporator Officer | 1 | $0 |
| Angela Harris | Director Officer | 1 | $0 |
| Dylan Mawhinney | Executive Director Key employee | 40 | $0 |
990-EZ for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jessica Flowers | Executive Director | 40 | $49,058 | $5,546 |
| Michael Waylett | President | 1 | $0 | $0 |
| Grayland Fredericks | Vice President | 1 | $0 | $0 |
| Clara Beauman | Secretary | 1 | $0 | $0 |
| Robert Metzger | Treasurer | 1 | $0 | $0 |
| Barry McNair | Incorporator | 1 | $0 | $0 |
| Angela Harris | Director | 1 | $0 | $0 |
990-EZ for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Michael Waylett | President | 1 | $0 |
| Grayland Fredericks | Vice President | 1 | $0 |
| Clara Beauman | Secretary | 1 | $0 |
| Robert Metzger | Treasurer | 1 | $0 |
| Barry McNair | Incorporator | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 240 BRIARWOOD DR, JACKSON, MS 39206-3027
- Principal officer (990 for 2025)
- Dylan Mawhinney, 240 BRIARWOOD DR, Jackson, MS 392063027
- Signed the 990
- Dylan Mawhinney, Executive Director
- Phone
- (207) 418-7433
Mission
Formed to promote community development by providing loan capital and development resources in economically distressed communities. Such activities of the Corporation may include but not be limited to: investing in lending to or providing technical assistance to businesses and organizations in economically distressed communities; investing in or providing loans to support commercial and residential properties located in economically distressed communities; investing in lending to or providing technical assistance to organizations such as Community Development Entities or Community Development Financial Institutions engaged in activities that promote community development in low income or economically distressed communities. The Corporation is an emerging Community Development Financial Institution CDFI and intends to become a certified CDFI by the U.S. Department of Treasury.
Program accomplishments
- The organization advances its mission by providing access to affordable lending solutions within underserved communities. During the tax year the organization originated and serviced approximately $23,000 in loans generating interest and fee income while supporting community financing needs. The organization also focused on building operational infrastructure and deploying grant funding to support future lending growth and expand access to capital.0
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 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 93-2642865
- 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
- 2024
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $143,819
- Income (IRS master file)
- $274,525
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $274,525 | $130,706 | $143,819 | IRS |
| 990-EZ | December 2024 | $100,500 | $57,527 | $42,973 | IRS |
| 990-EZ | December 2023 | $0 | $0 | $0 | XML |
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 93-2642865).
Questions about MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION is 93-2642865.
- Is MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION 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 FCU COMMUNITY DEVELOPMENT CORPORATION 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 MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 names Dylan Mawhinney.
- Who are the officers and directors of MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does MAGNOLIA FCU COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $274,525, expenses of $130,706 and total assets of $143,819 at year end.
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