Mcfadden Foundation Inc in Albany, Georgia (GA)

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Mcfadden Foundation Inc
Employer Identification Number (EIN)270601149
Name of OrganizationMcfadden Foundation Inc
In Care of NameHelen Kirbo
AddressPO BOX 70519, Albany, GA 31708-0519
SubsectionCharitable Organization
Ruling Date08/2011
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$19,379,083
Amount of Income$35,686,614
Form 990 Revenue Amount$1
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Operating Foundations


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Amount of income in 2013: $35,686,614 (it was $1 in 2012)
Mcfadden Foundation Inc: 

 $35,686,614
Other organizations performing similar types of work: 

 $45,945

Assets in 2013: $19,379,083 (it was $1 in 2012)
This organization: 

 $19,379,083
Other organizations performing similar types of work: 

 $120,180

Expenses in 2013: $361,874
Mcfadden Foundation Inc: 

 $361,874
Other organizations performing similar types of work: 

 $39,714

Income to expenses ratio in 2013: 98.6
This organization: 

 98.6
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 92.5%
Mcfadden Foundation Inc: 

 92.5%
Other organizations performing similar types of work: 

 2.2%

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$19,740,955$1,023,375$1,023,375
Contributions, gifts, grants, etc., received$18,254,751
Interest on savings and temporary cash investments$6,344
Dividends and interest from securities$340,104
Gross rents$0
Gross sales price for all assets$17,045,865
Gross profit from sales of goods$0
Other income$39,550
Other$1,100,206
Total expenses and disbursements$361,874$133,955$0$0
Compensation of officers, directors, trustees, etc.$81,653
Pension plans, employee benefits$0
Legal fees$12,361
Accounting fees$7,161
Interest$0
Depreciation$32,722
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$361,874$133,955$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$19,379,081
Net investment income$889,420
Adjusted net income$1,023,375
Balance Sheets
2010201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$1$0$1$0$1$0$19,379,083$20,374,669
Cash - non-interest-bearing$0$0$0$0
Investments-U.S. and state government obligations$0$0$0$290,037
Investments-corporate stock$0$0$0$10,657,876
Investments-corporate bonds$0$0$0$680,954
Investments-mortgage loans$0$0$0$0
Investments-other$0$0$0$0
Other assets$0$0$0$0
Total liabilities$0$0$0$0
Total liabilities and net assets/fund balances$0$0$0$19,379,083
Capital Gains and Losses for Tax on Investment Income
2010201120122013
Capital gain net income$0$0$0$1,100,206
Net capital loss$0$0$0$0
Excise Tax Based on Investment Income
2010201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNoNo
Tax based on investment income$0$0$0$17,788
Total credits and payments$0$0$0$0
Any penalty for underpayment of estimated tax$0$0$0$399
Tax due$0$0$0$18,187
Overpayment$0$0$0$0
Amount to be credited to next year's estimated tax$0$0$0$0
Statements Regarding Activities
2010201120122013
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?NoNoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNoNoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNoNoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNoNoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?NoNoNoYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoYesYes
Did any persons become substantial contributors during the tax year?NoNoNoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNoNoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYesYesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNoNoNo
Statements Regarding Activities for Which Form 4720 May Be Required
2010201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNoNo
Agree to pay money or property to a government official?NoNoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNoNoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNoNoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNoNoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNoNoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNoNo
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)?NoNoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNoNoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNoNo
Minimum Investment Return
2010201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$0$0$316,667
Net value of noncharitable-use assets$0$0$0$311,917
Minimum investment return$0$0$0$15,596
Distributable Amount
2010201120122013
Distributable amount$0$0$0$0
Undistributed Income
2010201120122013
Distributable amount for this year$0$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$15,596$0$0$0$15,596
Qualifying distributions made directly for active conduct of exempt activities$105,007$0$0$0$105,007
Value of all assets$1$0$0$0$1
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
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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IdNameAddressStateEstablishedTotal Income
1Mcfadden Foundation IncPO BOX 70519, Albany, GA 31708-0519GA2011-08$35,686,614
2Center For Working Families Inc50 Hurt Plz Se Ste 449, Atlanta, GA 30303-2915GA2007-03$4,315,108
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4Tuttle Newton Home2196 Central Ave, Augusta, GA 30904-6796GA1945-01$784,288
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8The Stewart Foundation IncPO BOX 54680, Atlanta, GA 30308-0680GA2012-09$21,475
9Red Sea Foundation10683 Big Canoe, Big Canoe, GA 30143-5133GA2013-10$13,000
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11Arlene M Young Memorial Tr, Young Charles E TteePO BOX 3268, Cumming, GA 30028-6518GA2014-10$6,240
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14The Creative Spark Foundation Inc1669 Barfield Run Nw, Atlanta, GA 30318-2778GA2014-07$1
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16Every Childs A Star Foundation Inc1270 Caroline St Ste D120-429, Atlanta, GA 30307-2758GA2011-05$0
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18Paul Millsap Foundation Corp4232 Regency Ct Nw, Atlanta, GA 30327-2726GA2015-03$0
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Number of organizations performing similar types of work
Alabama20
Arkansas6
Arizona21
California255
Colorado50
Connecticut21
District of Columbia9
Delaware7
Florida103
Georgia33
Hawaii6
Iowa6
Idaho8
Illinois37
Indiana16
Kansas10
Kentucky11
Louisiana12
Massachusetts40
Maryland20
Maine6
Michigan28
Minnesota26
Missouri19
Mississippi3
Montana5
North Carolina24
Nebraska7
New Hampshire7
New Jersey23
New Mexico9
Nevada26
New York122
Ohio45
Oklahoma9
Oregon16
Pennsylvania47
Rhode Island8
South Carolina15
South Dakota6
Tennessee17
Texas80
Utah25
Virginia29
Vermont4
Washington30
Wisconsin10
Wyoming4
International3
Total1,344

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