Margarita Foundation Inc in El Monte, California (CA)

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Margarita Foundation Inc
Employer Identification Number (EIN)455045607
Name of OrganizationMargarita Foundation Inc
AddressPO BOX 5845, El Monte, CA 91734-1845
SubsectionReligious Organization
Ruling Date09/2014
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$16,672
Amount of Income$56,099
Form 990 Revenue Amount$27,538
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Christian
User's rating
*****


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Amount of income in 2013: $56,099
Margarita Foundation Inc: 

 $56,099
Other organizations performing similar types of work: 

 $65,990

Assets in 2013: $16,672
Margarita Foundation Inc: 

 $16,672
Other organizations performing similar types of work: 

 $19,362

Expenses in 2013: $29,997
This organization: 

 $29,997
Other organizations performing similar types of work: 

 $61,884

Income to expenses ratio in 2013: 1.9
This organization: 

 1.9
Other organizations performing similar types of work: 

 0.9

Grants share in income in 2013: 17.7%
This organization: 

 17.7%
Other organizations performing similar types of work: 

 100.0%

Financial snapshot for 2013 ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2013
Total revenue$27,538
Contributions, gifts, grants, and similar amounts received$4,884
Program service revenue including government fees and contracts$0
Membership dues and assessments$0
Investment income$7
Gain/Loss from sale of assets other than inventory$22,647
Gross amount from sale of assets other than inventory$51,208
Less: cost or other basis and sales expenses$28,561
Net income/loss from gaming and fundraising events$0
Gross profit/loss from sales of inventory$0
Other revenue$0
Total expenses$29,997
Total net assets$16,672
Excess/Deficit for the year$-2,459
Net assets or fund balances at beginning of year$19,131
Other changes in net assets or fund balances$0
Net assets or fund balances at end of year$16,672
Balance Sheets
2013
Total assets$16,672
Total liabilities$0
Net assets or fund balances$16,672
Other Information
2013
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Has the organization filed a Form 990-T for the year?No
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$114,601
Subtotal$114,601
Gifts, grants, contributions, and membership fees received$4,884
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$109,717
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$114,601
Public support$114,601
Subtotal$7
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$7
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0

Ratings Summary

Based on 1 vote

Overall Rating:
*****
4.8
Ratings in categories:
Program:
*****
5.0
Fundraising:
*****
5.0
Expenses:
****
4.0
Transparency:
*****
5.0

1 User Review:

Anne Joseph

Added on Dec 11, 2018 8:01 AM
Program:
*****
Fundraising:
*****
Expenses:
****
Transparency:
*****
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Number of organizations performing similar types of work
Alaska123
Alabama839
Arkansas515
Arizona797
California6,530
Colorado1,017
Connecticut420
District of Columbia159
Delaware207
Florida4,469
Georgia2,559
Hawaii202
Iowa270
Idaho164
Illinois1,775
Indiana1,058
Kansas357
Kentucky558
Louisiana777
Massachusetts595
Maryland1,424
Maine90
Michigan1,190
Minnesota592
Missouri1,094
Mississippi537
Montana124
North Carolina2,056
North Dakota46
Nebraska158
New Hampshire96
New Jersey1,207
New Mexico278
Nevada356
New York2,346
Ohio1,480
Oklahoma880
Oregon520
Pennsylvania1,447
Rhode Island78
South Carolina902
South Dakota96
Tennessee1,250
Texas5,720
Utah152
Virginia1,293
Vermont41
Washington818
Wisconsin528
West Virginia178
Wyoming71
International78
Total50,517

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