Better Business Bureau Report for
Magnificat Houses, Inc.

Better Business Bureau Report issued June 2011
Better Business Bureau Report expires June 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Magnificat Houses, Inc.
Address: 3300 Caroline
  Houston, TX 77004
Phone: 713-520-0461
Web Address: www.magnificathouse.org
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Better Business Bureau Comments

Year, State Incorporated: 1968, Texas
Affiliates: None
Stated Purpose: Magnificat Houses, Inc. offers refuge and hope to the destitute by creating homes where people of different mental abilities, social backgrounds, religions, and cultures can live together in community. MHI provides a bridge back to the outside world and the confident to cross it.

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Evaluation Conclusions

               

Magnificat Houses, Inc. meets the 20 Standards for Charity Accountability.
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Programs

               

Magnificat Houses, Inc. houses homeless and chronically mentally ill of all ages in 12 large group home with approximately 160 beds. They also feed 250-350 street people at their soup kitchen per day.

For the fiscal year ended June 30, 2009, Magnificat Houses, Inc.'s program expenses were:

  
Total: 931,943
Total Program Expenses: $931,943
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Governance

               

Chief Executive : Rose Mary Badami, Foundress, Executive Director
Compensation*:
 $24,000

Chair of the Board: John Anderson
Chair's Profession / Business Affiliation: Retired Shell Oil Company

Board Size: 12

Paid Staff Size: 6

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

direct mail, grant proposals
Fund raising costs were % of related contributions. (Related contributions, which totaled $1,081,489, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Magnificat Houses, Inc.'s audited financial statements for the fiscal year ended June 30, 2009.

Source of Funds  
Contributions - organizations 902,266
Residents' maintenance fees from entitlement, private funds, and agencies 247,435
Contributions - food and goods 114,630
Other income 68,665
Contributions - individuals 64,028
Thrift store sales 6,526
Interest and dividends 5,032
Fundraising 565
Total Income $1,409,147


chart



Uses of Funds as a % of Total Expenses

Programs: 93%  Fund Raising: Less than 1%  Administrative: 7% 

Total income   $1,409,147
  Program expenses $931,943
  Fund raising expenses 1,128
  Administrative expenses 75,242
 
Total expenses   $1,008,313
Income in Excess of Expenses   400,834
Beginning net assets   2,539,877
Ending net assets   3,240,711
Total liabilities   95,136
Total assets   $3,335,847


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Complaints

               

The BBB has processed no complaints about this organization in the past 36 months, our standard reporting period.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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