Magnolia Bar Foundation Inc in Jackson, Mississippi (MS)
Table of contents:
| Magnolia Bar Foundation Inc | |
| Employer Identification Number (EIN) | 640808159 |
| Name of Organization | Magnolia Bar Foundation Inc |
| In Care of Name | Thandi Wade |
| Address | PO BOX 2792, Jackson, MS 39207-2792 |
| Activities | Community service organization, Discussion groups, forums, panels lectures, etc., Scholarships (other) |
| Subsection | Educational Organization |
| Ruling Date | 09/1992 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2014 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $142,965 |
| Amount of Income | $70,712 |
| Form 990 Revenue Amount | $56,450 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2014: $70,712 (it was $40,353 in 2013)
| Magnolia Bar Foundation Inc: | $70,712 |
| Other organizations performing similar types of work: | $72,336 |
Assets in 2014: $142,965 (it was $138,203 in 2013)
| This organization: | $142,965 |
| Other organizations performing similar types of work: | $239,394 |
Expenses in 2013: $29,114
| This organization: | $29,114 |
| Other organizations performing similar types of work: | $40,888 |
Income to expenses ratio in 2013: 2.4
| Magnolia Bar Foundation Inc: | 2.4 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2013: 51.5%
| Magnolia Bar Foundation Inc: | 51.5% |
| Other organizations performing similar types of work: | 0.1% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $25,290 | $62,186 | $40,353 |
| Contributions, gifts, grants, and similar amounts received | $7,720 | $43,910 | $20,797 |
| Program service revenue including government fees and contracts | $6,890 | $8,305 | $12,290 |
| Membership dues and assessments | $3,095 | $3,225 | $2,650 |
| Investment income | $2,472 | $4,355 | $1,246 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $5,113 | $2,391 | $3,370 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $15,900 | $21,820 | $8,785 |
| Less: direct expenses from gaming and fundraising events | $10,787 | $19,429 | $5,415 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $20,402 | $56,194 | $29,114 |
| Total net assets | $163,436 | $126,964 | $138,203 |
| Excess/Deficit for the year | $4,888 | $5,992 | $11,239 |
| Net assets or fund balances at beginning of year | $158,548 | $163,436 | $126,964 |
| Other changes in net assets or fund balances | $0 | $-42,464 | $0 |
| Net assets or fund balances at end of year | $126,964 | $138,203 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $163,436 | $126,964 | $138,203 |
| Total liabilities | $0 | $0 | $0 |
| Net assets or fund balances | $163,436 | $126,964 | $138,203 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $214,418 |
| Subtotal | $214,418 |
| Gifts, grants, contributions, and membership fees received | $91,002 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $0 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $123,416 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $222,451 |
| Public support | $214,418 |
| Subtotal | $8,033 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $8,033 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Sylvester H Reed Memorial Trust | PO BOX 1111, Pflugerville, TX 78691-1111 | TX | 1998-01 | $1,242,927 |
| 2 | Terry Foundation | 3104 Edloe, Houston, TX 77027-6098 | TX | 1997-07 | $305,792,014 |
| 3 | Louis L Borick Foundation | 2707 Kipling St, Houston, TX 77098-1214 | TX | 1997-07 | $86,100,330 |
| 4 | Wichita Center For Graduate Medical Education Inc | 1010 N Kansas St, Wichita, KS 67214-3124 | KS | 1990-08 | $23,498,748 |
| 5 | Thurgood Marshall College Fund Inc | 901 F St Nw Ste 300, Washington, DC 20004-1481 | DC | 1993-12 | $20,267,823 |
| 6 | Somerset Community Services Inc | PO BOX 18, Marion, MD 21838-0018 | MD | 1995-01 | $12,507,370 |
| 7 | Sigma Chi Foundation | 1714 Hinman Ave, Evanston, IL 60201-4517 | IL | 1941-04 | $11,127,580 |
| 8 | Supreme Council Education And Charity Fund | 33 Marrett Rd, Lexington, MA 02421-5703 | MA | 1955-12 | $10,306,163 |
| 9 | Homer Skelton Charitable Foundation | 4555 Spring Meadow Way N, Olive Branch, MS 38654-8133 | MS | 1995-06 | $495,316 |
| 10 | Mississippi Sports Medicine Foundation | 1325 E Fortification St, Jackson, MS 39202-2442 | MS | 1997-04 | $442,759 |
| 11 | Mary Kirkpatrick Haskell Scholarship Foundation Inc | One Rogers Old Place, Amory, MS 38821 | MS | 1992-11 | $247,799 |
| 12 | Mississippi Cattlemens Foundation Inc | 680 Monroe St Ste A, Jackson, MS 39202-3470 | MS | 1996-02 | $201,259 |
| 13 | Franks Foundation | PO BOX 250, Booneville, MS 38829-0250 | MS | 1995-09 | $115,799 |
| 14 | Magnolia Bar Foundation Inc | PO BOX 2792, Jackson, MS 39207-2792 | MS | 1992-09 | $70,712 |
| 15 | Kappa Psi Pharmaceutical Fdtn Inc College Of Pharmacy Univ Of Ok Hsc | Po Box 332, Oxford, MS 38655 | MS | 1994-06 | $31,952 |
| 16 | The Education Foundation Of Greenville Inc | P O Box 422, Greenville, MS 38701 | MS | 1989-10 | $19,804 |
| 17 | B S H S Hinton Burnett Dear And Sims Scholarship Inc | 110 High St, Brandon, MS 39042-3719 | MS | 1992-06 | $0 |
| 18 | Starkville Area Chamber Of Commerce | 200 East Main Street, Starkville, MS 39759 | MS | 1997-05 | $0 |
| 19 | Tollison Charitable Fund | 103 N Lamar Blvd Ste 201, Oxford, MS 38655-3731 | MS | 1998-07 | $0 |
| 20 | United Men Of Hollandale | PO BOX 261, Hollandale, MS 38748-0261 | MS | 1996-10 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,412 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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