Magnolia Art Xchange Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
THE MAGNOLIA ART EXCHANGE, INC. WILL PROVIDE OPPORTUNITIES FOR ART APPRECIATION AND EDUCATION BY PROVIDING WORKING ART STUDIOS, INSTRUCTIONAL SPACES, AND EXHIBITION OPPORTUNITIES FOR VISUAL ARTISTS IN A COLLABORATIVE HUB THAT ENCOURAGES PROFESSIONAL DEVELOPMENT. OBJECTIVES ARE TO CONTRIBUTE TO THE CULTURAL, EDUCATIONAL, AND ECONOMIC VITALITY OF OCALA/MARION COUNTY BY: SUPPORTING THE PROFESSIONAL GROWTH AND EDUCATION OF ARTISTS, ENHANCING AND EXPANDING THE CULTURAL CAMPUS LOCATED WITHIN OCALA'S CENTRAL BUSINESS DISTRICT, PROVIDING CITIZENS AND VISITORS WITH THE OPPORTUNITY TO ENGAGE ARTISTS, LEARN AND VIEW THE PROCESS FOR CREATING FINE ART, AND EXPERIENCE THE INTERSECTION OF ART AND COMMUNITY, SUPPORTING THE COMMUNITY'S COMMITMENT TO THE ARTS AND SUPPORTING THE CITY OF OCALA'S ECONOMIC GOALS BY DRAWING VISITORS AND RESIDENTS TO THE CENTRAL BUSINESS DISTRICT AND TO RETAIL AND COMMERCIAL ESTABLISHMENTS.
- Income
- $24,290
- Spending
- $33,018
- Reserves
- 40.1 months of spending
- Largest source of income
- donations and private grants, 80%
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
This organization files the short tax form, which does not ask about boards, policies or audits. That is normal for a small charity and is not a mark against it.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $26,933 spent. DURING 2019 THE MAGNOLIA ART EXCHANGE, INC'S LARGEST ACCOMPLISHMENT HAS BEEN DEVELOPING IT'S MARKETING PLAN AND PUTTING INFRASTRUCTURE IN PLACE TO REACH IT'S FUTURE FUNDRAISING GOALS AND IMPLEMENT PARTNERSHIPS WITHIN OUR COMMUNITY. THE 2019 EXPENSES HAVE BEEN FOR GENERAL BUSINESS AND ADMINISTRATIVE ITEMS. THERE WERE NO PROGRAM RELATED REVENUE AND/OR EXPENSES.
Source: Form 990EZ for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since January 2016.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.