Magnet Qalicb Inc
Donations deductibleRevenue
$743k
year to 30 June 2025
Expenses
$1.2m
year to 30 June 2025
Total assets
$14.5m
$15.3m liabilities
Net assets
Minus $857k
assets less liabilities
Directors and trustees
5
3.4 years on average
Staff
0
employees, year to 30 June 2025
Left since last filing
0
no seats appear to have opened
Activity
S11
Community improvement and capacity building
Magnet Qalicb Inc's network
5 people7 organisationsi5 people and 7 organisations on this map.The large node is the subject of this page. Solid lines are what the register itself records (5). Violet dotted lines (7) are likely: the same full name sits on the current board of another organisation in the same register and region. Form 990 filings give names without a person identifier; SEC insider filings carry a CIK. It may be a different person.The board
5 listediTime on the board is observed from the annual filings: the IRS files no appointment date, so the bar counts years from the first filing the person appears on - a lower bound, not a filed start date. Names are exactly as filed. The IRS publishes no person identifier, so this edition does not yet link a person across organisations in the tables. The network map shows same-name matches as likely links only, never as confirmed.Time served and departures are observed across annual filings. Observed time served is a lower bound - a member may have joined before the first year on record. The organisation reported 0 voting members of its governing body on its latest Form 990 Part VI; we list 5 in Part VII (Part VII does not always name every voting member).| Name | Role as filed | Since | On the board |
|---|---|---|---|
| Edward Kneitel | Treasurer & Director | 2023 | 3 yrs |
| Ethan Karp | President & Director | 2023 | 3 yrs |
| Lee Chilcote | Secretary & Director | 2023 | 3 yrs |
| Scott M Simon | Director | 2023 | 3 yrs |
| Theodore Einhorn | Director | 2023 | 3 yrs |
Under 5 years5 to 6 years6 years or more
Pay and hours
year to 30 June 2025iFrom Part VII of the Form 990: compensation reported for each officer, director, trustee, key employee and highest-paid staff member, and the average hours a week they report. Most board members are unpaid; a blank means nothing was reported. Pay from related organisations is shown separately.| Name | Title as filed | Hours a week | Pay from the organisation | Related organisations | Other |
|---|---|---|---|---|---|
| Ethan Karp | President & Director | 1 | $0 | $559k | $37k |
| Edward Kneitel | Treasurer & Director (Through 4/7/25) | 1 | $0 | $178k | $14k |
| Lee Chilcote | Secretary & Director | 1 | $0 | ||
| Theodore Einhorn | Director | 1 | $0 | ||
| Scott M Simon | Director | 1 | $0 | ||
| Daniel Jacoby | Treasurer & Director (As of 4/7/25) | 1 | $0 | $35k | $1k |
About
- Legal name
- Magnet Qalicb Inc
- EIN
- 882834792
- Address
- 1800 E 63rd St, Cleveland, OH, 44103-3833
- State
- Ohio
- Mission
- Conducting or supporting activities for the purposes of increasing support for manufacturing advocacy and growth network inc. (magnet,) increasing community involvement with and support for magnet, and promoting the facilities of magnet, accepting and expending funds in support of such activities, and doing all things necessary or appropriate in order to accomplish the foregoing purposes. (as filed on the Form 990)
- Activity (NTEE)
- S11 Community improvement and capacity building
- IRS classification
- 501(c)03 (tax-exempt under section 501(c)(3) where shown)
- Classified purpose
- Community Improvement & Capacity Building
- Size band
- 8 (IRS master file code)
- Formed
- 2022
- Principal officer
- Daniel Jacoby (as named on the Form 990)
- IRS ruling date
- 1 May 2023
- Status
- Code 01 (unconditional exemption)
- Form 990 filings on record
- 1, latest 2023
- IRS Publication 78
- SO (contributions deductible)
Most connected
Related organisations (Schedule R)
Longest observed on the filings
≥3years on the filingsEdward Kneitel
≥3years on the filingsEthan Karp
≥3years on the filingsLee Chilcote
≥3years on the filingsScott M Simon
Latest return
year to 30 June 2025iFigures from the newest Form 990 or 990-EZ in the IRS e-file releases of 2025 and 2026, for the year ending 30 June 2025. US dollars, as filed.- Total assets
- $14.5m
- Total liabilities
- $15.3m
- Net assets or fund balances
- Minus $857k
- Contributions and grants received
- $0
- Program service revenue
- $743k
- Grants and similar paid out
- $140k
- Employees
- 0
Grants paid
1 listediFrom Schedule I of the Form 990: grants and assistance to organisations in the United States, largest first (up to 25). Schedule I is filed only by organisations that gave more than $5,000 to any one recipient.| Recipient | Purpose | Amount |
|---|---|---|
| Manufacturing Advocacy & Growth Network Inc | Supporting organization - general operating needs | $140k |