Michaels Foundation Inc in Prospect, Connecticut (CT)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Other organizations in Connecticut
| Michaels Foundation Inc | |
| Employer Identification Number (EIN) | 237055684 |
| Name of Organization | Michaels Foundation Inc |
| Address | PO BOX 7388, Prospect, CT 06712-0388 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 02/1970 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 11/2012 |
| Assets | $100,000 to $499,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $171,410 |
| Amount of Income | $5,645 |
| Form 990 Revenue Amount | $2,674 |
Non-representatives - add comments:
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $5,645 | $6,013 | $5,645 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $5,645 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $9,670 | $50 | $50 | $0 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $170 | $50 | $0 | |
| Contributions, gifts, grants paid | $9,500 | |||
| Excess of revenue over expenses and disbursements | $-4,025 | |||
| Net investment income | $5,963 | |||
| Adjusted net income | $5,595 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $171,410 | $179,445 |
| Cash - non-interest-bearing | $345 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $171,064 | |
| Other | $1 | |
| Total liabilities | $120 | |
| Mortgages and other notes payable | $0 | |
| Other | $120 | |
| Total liabilities and net assets/fund balances | $171,289 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $120 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $120 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $172,784 |
| Net value of noncharitable-use assets | $170,200 |
| Minimum investment return | $8,510 |
| Distributable Amount (for 2012) | |
| Distributable amount | $8,390 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $8,390 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $8,390 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Other organizations in Connecticut | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Mgrs Inc | 40 Broad St, Middletown, CT 06457-3249 | CT | 1994-04 | $176,083 |
| 2 | Mhg Foundation Inc | 913 Ponus Rdg, New Canaan, CT 06840-3419 | CT | 2005-03 | $869,688 |
| 3 | Mi Casa Family Service & Educational Center Inc | 510 Park Street, Hartford, CT 06106-5407 | CT | 1998-11 | $506,469 |
| 4 | Miamogue Yacht Club Inc | 144 Seaview Ave, Bridgeport, CT 06607-2431 | CT | 1958-10 | $670,626 |
| 5 | Micah Housing Inc | 636 Old Post Rd, Fairfield, CT 06824-6647 | CT | 1992-10 | $226,821 |
| 6 | Michael And Carol Lowenstein Foundation Inc | 55 Railroad Ave 2nd Fl, Greenwich, CT 06830-6378 | CT | 2009-09 | $6,518,075 |
| 7 | Michael F And Joan G Hoben Family Foundation, Hoben Michael F Ttee | 5 East Trl, Darien, CT 06820-5513 | CT | 2002-05 | $17,117 |
| 8 | Michael F Bower And Dorothy L Cochrane Foundation Inc | 80 Watering Pond Rd, Guilford, CT 06437-1660 | CT | 1994-05 | $1 |
| 9 | Michael Kluger And Heidi Greene Foundation | PO BOX 1148, Redding Ctr, CT 06875-1148 | CT | 2002-08 | $25,558 |
| 10 | Michael R & Helen M Fitzpatrick Memorial Fund | 773 Main St, Manchester, CT 06040-5102 | CT | 1972-06 | $8,116 |
| 11 | Michaels Foundation Inc | PO BOX 7388, Prospect, CT 06712-0388 | CT | 1970-02 | $5,645 |
| 12 | Michaels Group Employee Benefit Trust | 150 Mattatuck Heights, Waterbury, CT 06705-3893 | CT | 1981-01 | $335,500 |
| 13 | Micheal And Eliza Paolucci Charitable Foundation | 21 Kirby Rd, Washington, CT 06793-1423 | CT | 2000-02 | $8,000 |
| 14 | Mickey Lione Jr Fund Inc | 29 Canfield Drive, Stamford, CT 06902 | CT | 2007-12 | $12,497 |
| 15 | Micro Credit Businesses Inc | 475 Clinton Ave, Bridgeport, CT 06605-1700 | CT | 2002-01 | $121,396 |
| 16 | Mid Fairfield Aids Project Inc | 618 West Ave, Norwalk, CT 06850-4008 | CT | 1989-04 | $765,117 |
| 17 | Mid Fairfield Youth Hockey Association Inc | PO BOX 1085, New Canaan, CT 06840-1085 | CT | 1978-02 | $875,591 |
| 18 | Mid-Fairfield Child Guidance Center Inc | 100 East Ave, Norwalk, CT 06851-5010 | CT | 1958-09 | $3,052,596 |
| 19 | Mid-Fairfield County Association Of Realtors Inc | 19 Imperial Ave, Westport, CT 06880-4302 | CT | 1967-03 | $339,096 |
| 20 | Visiting Nurse & Hospice Of Fairfield County Inc | 761 Main Ave Ste 114, Norwalk, CT 06851-1080 | CT | 1982-09 | $11,365,860 |
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