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Magnolia Holding Company

Worthen Charles A

Organization summary

Type of Nonprofit

Designated as a Corporations created to hold titles for property owned by another nonprofit.

Category: Community Improvement, Capacity Building / Real Estate Organizations (NTEE)

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
−$1.07M (2023)

Expenses
−$1.07M (2023)

Total Assets
$13.5M (2023)

Total Liabilities
$14.1k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$1,071,083
Expenses
-$1,071,083
Net Income
$0
Net Assets
$13,502,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $3,039
Bond Proceeds $0
Royalties $0
Rental Property Income -$1,074,122
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $13,516,950
Total Liabilities $14,144
Net Assets $13,502,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Director) $0 $72,000 $0
Michael C Doherty (Vice President/Director) $0 $72,000 $0
James B Galbraith (Director) $0 $72,000 $0
E J Pederson (Director) $0 $72,000 $0
Keith Bassett (Director) $0 $72,000 $0
William R Sealy (Director) $0 $72,000 $0
Douglas G Rogers (Exec Dir/Sec/Treas) $0 $395,429 $54,059
James S Jobe (Asst Sec/Treasurer) $0 $169,834 $32,458
Gladys Stansberry (Asst Treasurer) $0 $117,796 $21,388

Document Links

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$568,091
Expenses
-$568,091
Net Income
$0
Net Assets
$12,722,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $746
Bond Proceeds $0
Royalties $0
Rental Property Income -$568,837
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $12,767,252
Total Liabilities $44,446
Net Assets $12,722,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Director) $0 $54,000 $0
George Sealy (Exec Vice Pres/Direc) $0 $22,500 $0
William R Sealy (Director) $0 $4,500 $0
Michael C Doherty (Vice President/Director) $0 $54,000 $0
James B Galbraith (Director) $0 $54,000 $0
E J Pederson (Director) $0 $54,000 $0
Keith Bassett (Director) $0 $54,000 $0
Douglas G Rogers (Exec Dir/Sec/Treas) $0 $347,012 $53,087
James S Jobe (Asst Sec/Treasurer) $0 $162,026 $30,044
Gladys Stansberry (Asst Treasurer) $0 $111,768 $18,863

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$656,493
Expenses
-$656,493
Net Income
$0
Net Assets
$12,022,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $478
Bond Proceeds $0
Royalties $0
Rental Property Income -$656,971
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $12,025,606
Total Liabilities $2,800
Net Assets $12,022,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $54,000 $0
George Sealy (Exec Vice Pr) $0 $49,500 $0
John Eckel (Vice Pres/Di) $0 $31,500 $0
Michael C Doherty (Director) $0 $54,000 $0
James B Galbraith (Director) $0 $54,000 $0
Ej Pederson (Director) $0 $54,000 $0
Keith Bassett (Director) $0 $49,500 $0
Douglas G Rogers (Exec Dir/Sec) $0 $295,360 $47,465
James S Jobe (Asst Sec/Tre) $0 $160,000 $28,260
Gladys Stansberry (Asst Treasur) $0 $107,478 $10,570

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$648,069
Expenses
-$648,069
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $1,158
Bond Proceeds $0
Royalties $0
Rental Property Income -$649,227
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $11,623,110
Total Liabilities $304
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $54,000 $0
George Sealy (Exec Vice Pr) $0 $54,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $36,000 $0
John Eckel (Director) $0 $54,000 $0
Michael C Doherty (Director) $0 $54,000 $0
James B Galbraith (Director) $0 $54,000 $0
Ej Pederson (Director) $0 $54,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $284,000 $46,152
James S Jobe (Asst Sec/Tre) $0 $154,650 $25,193

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$603,373
Expenses
-$603,373
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $1,275
Bond Proceeds $0
Royalties $0
Rental Property Income -$604,648
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $11,638,952
Total Liabilities $16,146
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $54,000 $0
George Sealy (Exec Vice Pr) $0 $54,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $54,000 $0
John Eckel (Director) $0 $54,000 $0
Michael C Doherty (Director) $0 $54,000 $0
James B Galbraith (Director) $0 $54,000 $0
Ej Pederson (Director) $0 $54,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $265,802 $44,085
James S Jobe (Asst Sec/Tre) $0 $147,707 $23,758

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$727,745
Expenses
-$727,745
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $834
Bond Proceeds $0
Royalties $0
Rental Property Income -$728,579
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $11,622,806
Total Liabilities $0
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $48,000 $0
George Sealy (Exec Vice Pr) $0 $40,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $48,000 $0
John Eckel (Director) $0 $44,000 $0
Michael C Doherty (Director) $0 $48,000 $0
James B Galbraith (Director) $0 $48,000 $0
Ej Pederson (Director) $0 $48,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $256,561 $40,381
James S Jobe (Asst Sec/Tre) $0 $143,056 $21,758

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$732,637
Expenses
-$732,637
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $573
Bond Proceeds $0
Royalties $0
Rental Property Income -$733,210
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $11,662,230
Total Liabilities $39,424
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $48,000 $0
George Sealy (Exec Vice Pr) $0 $36,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $48,000 $0
John Eckel (Director) $0 $48,000 $0
Michael C Doherty (Director) $0 $48,000 $0
James B Galbraith (Director) $0 $48,000 $0
Ej Pederson (Director) $0 $48,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $242,082 $37,857
James S Jobe (Asst Sec/Tre) $0 $136,354 $19,714

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$1,039,676
Expenses
-$1,039,676
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $681
Bond Proceeds $0
Royalties $0
Rental Property Income -$1,040,357
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $11,665,990
Total Liabilities $43,184
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $48,000 $0
George Sealy (Exec Vice Pr) $0 $48,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $48,000 $0
John Eckel (Director) $0 $48,000 $0
Michael C Doherty (Director) $0 $48,000 $11,947
James B Galbraith (Director) $0 $48,000 $0
Ej Pederson (Director) $0 $48,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $217,328 $34,147
James S Jobe (Asst Sec/Tre) $0 $129,639 $9,617

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$417,983
Expenses
-$417,983
Net Income
$0
Net Assets
$11,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $1,012
Bond Proceeds $0
Royalties $0
Rental Property Income -$418,995
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $12,589,228
Total Liabilities $966,422
Net Assets $11,622,806
Compensation
Key Employees and Officers Compensation Related Other
John W Kelso (President/Di) $0 $48,000 $0
George Sealy (Exec Vice Pr) $0 $48,000 $0
J Fellman Seinsheimer (Vice Pres/Di) $0 $44,000 $0
John Eckel (Director) $0 $48,000 $0
Michael C Doherty (Exec Direc/S) $0 $191,134 $27,790
James B Galbraith (Director) $0 $48,000 $0
Ej Pederson (Director) $0 $48,000 $0
Douglas G Rogers (Exec Dir/Sec) $0 $196,699 $30,614
James S Jobe (Asst Sec/Tre) $0 $77,626 $4,598

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$384,464
Expenses
-$384,464
Net Income
$0
Net Assets
$9,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $706
Bond Proceeds $0
Royalties $0
Rental Property Income -$385,170
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $9,664,078
Total Liabilities $41,272
Net Assets $9,622,806

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$584,655
Expenses
-$584,655
Net Income
$0
Net Assets
$9,622,806
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $1,857
Bond Proceeds $0
Royalties $0
Rental Property Income -$586,512
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $9,629,372
Total Liabilities $6,566
Net Assets $9,622,806

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$351,971
Expenses
-$351,971
Net Income
$0
Net Assets
$5,763,356
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $2,626
Bond Proceeds $0
Royalties $0
Rental Property Income -$354,597
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $5,763,887
Total Liabilities $531
Net Assets $5,763,356

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
-$508,684
Expenses
-$508,684
Net Income
$0
Net Assets
$5,763,356
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $0
Investment Income $2,618
Bond Proceeds $0
Royalties $0
Rental Property Income -$511,302
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $5,806,811
Total Liabilities $43,455
Net Assets $5,763,356

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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