Miracles And Magic Foundation Inc in East Taunton, Massachusetts (MA)

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Miracles And Magic Foundation Inc
Employer Identification Number (EIN)043472643
Name of OrganizationMiracles And Magic Foundation Inc
In Care of NameEliot Tatelman Treas
Address450 Revolutionary Dr, East Taunton, MA 02718-1369
SubsectionCharitable Organization, Educational Organization
Ruling Date12/1999
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$25,000 to $99,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$47,264
Amount of Income$5,013
Form 990 Revenue Amount$198,341
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Operating Foundations


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Amount of income in 2014: $5,013 (it was $905,838 in 2012)
Miracles And Magic Foundation Inc: 

 $5,013
Other organizations performing similar types of work: 

 $45,945

Assets in 2014: $47,264 (it was $420,239 in 2012)
Miracles And Magic Foundation Inc: 

 $47,264
Other organizations performing similar types of work: 

 $120,180

Expenses in 2012: $178,477
Miracles And Magic Foundation Inc: 

 $178,477
Other organizations performing similar types of work: 

 $39,714

Income to expenses ratio in 2012: 0.0
This organization: 

 0.0
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2012: 50.9%
This organization: 

 50.9%
Other organizations performing similar types of work: 

 2.2%

Financial snapshot ($)

Revenue 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$604,858$352,070$146,725
Contributions, gifts, grants, etc., received$307,744
Interest on savings and temporary cash investments$0
Dividends and interest from securities$1,855
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$295,259
Total expenses and disbursements$178,477$0$6,794$182,262
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$178,477$0$182,262
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$426,381
Net investment income$352,070
Adjusted net income$139,931
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$420,239$420,239
Cash - non-interest-bearing$53,443
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$366,796
Total liabilities$6,595
Mortgages and other notes payable$0
Other$6,595
Total liabilities and net assets/fund balances$413,644
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$295,259
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$0
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$0
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?Yes
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$218,729
Net value of noncharitable-use assets$215,440
Minimum investment return$10,772
Distributable Amount (for 2012)
Distributable amount$0
Undistributed Income (for 2012)
Distributable amount for 2012$0
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$10,772$0$3,716$2,399$16,887
Qualifying distributions made directly for active conduct of exempt activities$182,262$213,338$197,626$185,134$778,360
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$7,181$6,956$2,477$1,599$18,213
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
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$0$0$0
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$0
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$0
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
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2China Medical Board Inc2 Arrow St, Cambridge, MA 02138-5102MA2014-12$37,268,612
3Museum Of Russian Icons Inc203 Union St, Clinton, MA 01510-2903MA2006-04$10,364,374
4Save Our Heritage Inc57 Main St, Concord, MA 01742-2530MA2000-06$1,042,802
5Primary Care Progress Inc1035 Cambridge St Ste 28a, Cambridge, MA 02141-1160MA2011-02$889,111
6The Stephen Phillips Memorial Preserve Trust230 Congress St, Boston, MA 02110-2409MA1978-07$401,956
7Shanklin Music Hall Foundation Inc60 Hemlock Park Dr, Groton, MA 01450-1450MA2010-12$147,530
8Rosie S Rafikis Inc83 Willow St, Foxborough, MA 02035-2247MA2013-10$24,823
9The Jasper Foundation1 Broadway Ste 12, Cambridge, MA 02142-1189MA2001-08$2,509
10Maranatha Ii Charitable TrustPO BOX 2101, Framingham, MA 01703-2101MA2012-06$167
11New American Horizons FoundationPO BOX 600408, Newtonville, MA 02460-0004MA2009-10$154
12Roxbury Foundation Inc410 Hayfield Ln, Wayland, MA 01778-3308MA2002-12$5
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17New England Center For Investigative Reporting640 Commonwealth Ave, Boston, MA 02215-2422MA2015-02$0
18New England Litigation Technology Professionals Corporation152 Bowdoin St, Boston, MA 02108-2702MA2014-09$0
19Remember Those In Captivity Ministries Inc80 Etna St, Brighton, MA 02135-2830MA2014-10$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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