First Midwest Charitable Foundation in Itasca, Illinois (IL)

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First Midwest Charitable Foundation
Employer Identification Number (EIN)050545258
Name of OrganizationFirst Midwest Charitable Foundation
In Care of NameFirst Midwest Bank
AddressOne Pierce Pl 1500, Itasca, IL 60143-1253
SubsectionCharitable Organization
Ruling Date01/2003
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$2,089,332
Amount of Income$1,739,987
Form 990 Revenue Amount$148,596
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations


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Amount of income in 2014: $1,739,987 (it was $1,110,015 in 2012)
First Midwest Charitable Foundation: 

 $1,739,987
Other organizations performing similar types of work: 

 $107,502

Assets in 2014: $2,089,332 (it was $1,868,540 in 2012)
This organization: 

 $2,089,332
Other organizations performing similar types of work: 

 $322,766

Expenses in 2012: $149,756
First Midwest Charitable Foundation: 

 $149,756
Other organizations performing similar types of work: 

 $58,249

Income to expenses ratio in 2012: 11.6
First Midwest Charitable Foundation: 

 11.6
Other organizations performing similar types of work: 

 2.0

Grants share in income in 2012: 0.0%
First Midwest Charitable Foundation: 

 0.0%
Other organizations performing similar types of work: 

 98.7%

Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$158,366$158,366$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$25,798
Dividends and interest from securities$51,078
Gross rents$0
Gross profit from sales of goods$0
Other income$72
Other$81,418
Total expenses and disbursements$149,756$2,231$0$147,525
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$2,256$2,231$25
Contributions, gifts, grants paid$147,500
Excess of revenue over expenses and disbursements$8,610
Net investment income$156,135
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$1,868,540$2,067,883
Cash - non-interest-bearing$107,018
Investments-U.S. and state government obligations$0
Investments-corporate stock$1,065,263
Investments-corporate bonds$693,515
Investments-mortgage loans$0
Investments-other$0
Other$2,744
Total liabilities$0
Total liabilities and net assets/fund balances$1,868,540
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$81,418
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$1,561
Total credits and payments$2,100
2012 estimated tax payments and 2011 overpayment credited to 2012$2,100
Exempt foreign organizations-tax withheld at source$0
Tax paid with application for extension of time to file (Form 8868)$0
Backup withholding erroneously withheld$0
Any penalty for underpayment of estimated tax$0
Tax due$0
Overpayment$539
Amount to be credited to 2013 estimated tax$539
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$2,126,430
Net value of noncharitable-use assets$2,094,540
Minimum investment return$104,727
Distributable Amount (for 2012)
Distributable amount$103,166
Undistributed Income (for 2012)
Distributable amount for 2012$103,166
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1S&c Foundation225 N Michigan Ave Ste 2200, Chicago, IL 60601-7672IL1999-04$13,483,302
2Nora And Richard Lewis Family Foundation NfpPO BOX 409, Streamwood, IL 60107-0409IL2013-12$1,988,902
3Earl D Schoeffner Charitable Tr, Janet Christensen Ttee5735 S State Route 1, Saint Anne, IL 60964-5286IL2011-12$1,597,784
4Sudbury Charitable TrPO BOX 803878, Chicago, IL 60680-3878IL2008-05$1,379,598
5David And Lynne Weinberg Family Foundation401 N Michigan Ave Ste 3050, Chicago, IL 60611-5515IL2012-04$1,023,681
6Frank A Knaphurst Fam Tua Tr231 S Lasalle St, Chicago, IL 60697-0001IL2010-09$990,190
7Roslyn And Joseph Perlman Foundation430 Clavey Ln, Highland Park, IL 60035-4531IL2003-01$907,133
8Simmons Mesothelioma Foundation1 Court St, Alton, IL 62002-6267IL2010-02$855,712
9William Erby Smith Foundation, Smith William Erby Ttee111 W Monroe - 16w, Chicago, IL 60603-4096IL1999-08$711,861
10James Dyson Foundation North America600 W Chicago Ave Ste 275, Chicago, IL 60654-2813IL2012-01$473,535
11Samuel J Rosenwasser Irrev Char Trust 33-296386010 S Dearborn, Chicago, IL 60603-2300IL1999-04$441,939
12Tampico Foundation3106 N Campbell Ave, Chicago, IL 60618-7921IL2012-08$246,479
13Wintrop Foundation Tr Ua 10242007, John Robinson TteePO BOX 803878, Chicago, IL 60680-3878IL2008-01$193,327
14William H & Mary E Baker Charitable Tr2810 Frank Scott Pkwy W, Belleville, IL 62223-5007IL2003-03$148,534
15Assurance Caring Together Foundation1750 E Golf Road, Schaumburg, IL 60173-5835IL2012-01$134,065
16Seager Family FoundationPO BOX 803878, Chicago, IL 60680-3878IL1999-07$119,869
17Gitm Foundation1802 Wildwood Lane, Metamora, IL 61548IL2011-09$107,075
18Midland States Bank Foundation1201 Network Centre Dr, Effingham, IL 62401-4602IL2012-05$102,828
19The Fifth Foundation2 N Riverside Plz, Chicago, IL 60606-2600IL2001-05$97,370
20Jonathan & Elke Glenner Foundation5454 Fargo Ave, Skokie, IL 60077-3210IL2011-04$59,893
Number of organizations performing similar types of work
Alaska6
Alabama22
Arkansas13
Arizona41
California323
Colorado62
Connecticut59
District of Columbia21
Delaware45
Florida200
Georgia87
Hawaii13
Iowa26
Idaho13
Illinois148
Indiana53
Kansas20
Kentucky21
Louisiana20
Massachusetts108
Maryland62
Maine6
Michigan78
Minnesota56
Missouri38
Mississippi11
Montana12
North Carolina85
North Dakota3
Nebraska23
New Hampshire10
New Jersey139
New Mexico14
Nevada24
New York359
Ohio99
Oklahoma35
Oregon40
Pennsylvania119
Rhode Island21
South Carolina19
South Dakota6
Tennessee28
Texas190
Utah31
Virginia60
Vermont8
Washington67
Wisconsin52
West Virginia2
Wyoming10
International5
Total3,013

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