Mary Joan Rice Charitable Foundation in Chicago, Illinois (IL)

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Mary Joan Rice Charitable Foundation
Employer Identification Number (EIN)454000190
Name of OrganizationMary Joan Rice Charitable Foundation
In Care of NameMary Joan Rice
Address4545 N Long Ave Apt 3d, Chicago, IL 60630-3530
SubsectionCharitable Organization
Ruling Date06/2014
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period11/2013
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$43,190
Amount of Income$45,000
Form 990 Revenue Amount$45,000
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $45,000 (it was $5,000 in 2012)
Mary Joan Rice Charitable Foundation: 

 $45,000
Other organizations performing similar types of work: 

 $123,400

Assets in 2013: $43,190 (it was $4,464 in 2012)
Mary Joan Rice Charitable Foundation: 

 $43,190
Other organizations performing similar types of work: 

 $188,019

Expenses in 2013: $1,810
Mary Joan Rice Charitable Foundation: 

 $1,810
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2013: 24.9
This organization: 

 24.9
Other organizations performing similar types of work: 

 5.6

Grants share in income in 2013: 100.0%
Mary Joan Rice Charitable Foundation: 

 100.0%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

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$45,000$0$0
Contributions, gifts, grants, etc., received$45,000
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$1,810$0$0$1,810
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$0
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$310$0$310
Contributions, gifts, grants paid$1,500
Excess of revenue over expenses and disbursements$43,190
Net investment income$0
Adjusted net income$0
Balance Sheets
20122013
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$4,464$4,464$43,190$47,653
Cash - non-interest-bearing$4,464$43,190
Investments-U.S. and state government obligations$0$0
Investments-corporate stock$0$0
Investments-corporate bonds$0$0
Investments-mortgage loans$0$0
Investments-other$0$0
Other assets$0$0
Total liabilities$0$0
Total liabilities and net assets/fund balances$4,464$43,190
Capital Gains and Losses for Tax on Investment Income
20122013
Capital gain net income$0$0
Net capital loss$0$0
Excise Tax Based on Investment Income
20122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$0$0
Total credits and payments$0$0
Any penalty for underpayment of estimated tax$0$0
Tax due$0$0
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0
Statements Regarding Activities
20122013
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?NoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
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?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
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?NoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?NoNo
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
20122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
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?NoNo
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?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNo
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?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNo
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?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
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?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
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)?NoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
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?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
20122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$392$3,599
Net value of noncharitable-use assets$0$3,491
Minimum investment return$0$175
Distributable Amount
20122013
Distributable amount$0$0
Undistributed Income
20122013
Distributable amount for this year$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2Elks National Foundation Inc, Elks National Foundation2750 N Lakeview Avenue, Chicago, IL 60614IL2009-02$338,625,890
3Hyatt Hotels Foundation71 S Wacker Dr 12th Fl, Chicago, IL 60606-4637IL2013-11$20,000,738
4Southeastern Illinois Community FoundationPO BOX 1211, Effingham, IL 62401-1211IL2000-02$11,606,323
5Supply Hope Inc65 N River Ln Ste 201, Geneva, IL 60134-2268IL2013-08$369,184
6Southern Illinois Community Foundation3000 West Deyoung St Ste 800-B, Marion, IL 62959-5558IL1998-08$311,058
7Southern Foundation IncPO BOX 565, Carbondale, IL 62903-0565IL1981-10$229,044
8Outstanding Farmers Of America15247 W Busch Rd, Pearl City, IL 61062-9217IL2002-09$143,037
9Rotary Club Of Oswego Foundation Inc15515 Dan Patch Drive, Plainfield, IL 60544IL2009-10$98,296
10Mayors Community Charity Ball1 Friendship Plz, Addison, IL 60101-2787IL2014-08$95,428
11Sinnissippi Foundation For Family And Community Services325 Il Route 2, Dixon, IL 61021-9118IL1980-09$90,446
12Grounds For Life714 3rd Avenue, Rockford, IL 61104IL2014-10$76,120
13A New Direction Beverly Morgan Park3540 W 95th St, Evergreen Pk, IL 60805-2105IL2011-10$73,599
14Advise Us Fund715 Lake St Ste 418, Oak Park, IL 60301-1413IL2013-05$73,426
15Paul Seiwert Foundation920 S Hamlin Ave, Park Ridge, IL 60068-4318IL2009-02$61,341
16Wristen Family Foundation7 Turning Shore Dr, S Barrington, IL 60010-9597IL2005-03$52,012
17Quito Barrio Outreach Illinois Consortium1500 Brookdale Rd, Naperville, IL 60563-2129IL2011-11$51,682
18Mary Joan Rice Charitable Foundation4545 N Long Ave Apt 3d, Chicago, IL 60630-3530IL2014-06$45,000
19Captain Kevin C Landeck Memorial Foundation1937 Somerset Lane, Wheaton, IL 60189IL2007-07$34,469
20Mid North Landmark Protection Association Ltd2247 N Geneva Ter, Chicago, IL 60614-3746IL2012-06$27,850
Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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