Midgard Foundation in Asheville, North Carolina (NC)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Other organizations in North Carolina
| Midgard Foundation | |
| Employer Identification Number (EIN) | 136206619 |
| Name of Organization | Midgard Foundation |
| Address | PO BOX 7286, Asheville, NC 28802-7286 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 08/1966 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,935,109 |
| Amount of Income | $32,636 |
| Form 990 Revenue Amount | $21,961 |
Non-representatives - add comments:
Revenue for 2012
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $234,290 | $222,475 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $22 | |||
| Dividends and interest from securities | $53,329 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $-2,651 | |||
| Other | $183,590 | |||
| Total expenses and disbursements | $138,764 | $10,204 | $0 | $129,175 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $13,539 | $10,204 | $3,950 | |
| Contributions, gifts, grants paid | $125,225 | |||
| Excess of revenue over expenses and disbursements | $95,526 | |||
| Net investment income | $212,271 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,927,034 | $2,655,251 |
| Cash - non-interest-bearing | $105,308 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $763,406 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $1,000,000 | |
| Other | $58,320 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,927,034 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $183,590 |
| 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 | $4,245 |
| Total credits and payments | $1,254 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $1,254 |
| 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 | $9 |
| Tax due | $3,000 |
| 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? | 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 | $2,541,807 |
| Net value of noncharitable-use assets | $2,503,680 |
| Minimum investment return | $125,184 |
| Distributable Amount (for 2012) | |
| Distributable amount | $120,939 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $120,939 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $120,939 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| 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 |
| Write your review! |
|
|
| Recently Added Reviews |
Centers For Spiritual Living, Csl Asheville in Asheville, NC
 |
|
Koginka Sewaluna Foundation Inc in Asheville, NC
|
| Kyle Busch Foundation in Mooresville, NC |
|
Marine Corps League, Marine Corps League Cherokee Detachment 1011 in Murphy, NC
|
| Colonial Capital Humane Society in New Bern, NC |
|
Living Church Of God International Inc in Charlotte, NC
|
Greensboro Cheetahs in Greensboro, NC
 |
|
Life Changing International Church Inc in High Point, NC
|
| Mission Servants Ministries in Charlotte, NC |
|
Bikers For Christ Sandhills Chapter in Dunn, NC
|
| Other organizations in North Carolina | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Mid-Atlantic Christian University Foundation Inc | 715 N Poindexter St, Elizabeth Cty, NC 27909-4054 | NC | 1997-12 | $208,459 |
| 2 | Mid-Atlantic Circulation Managers Association Inc | 145 Back Porch Ln, Maysville, NC 28555-9573 | NC | 1995-11 | $28,640 |
| 3 | Mid-Carolina Home Care Specialist Llc, Ayscue Charles F Member | 600 Airport Blvd Ste 500, Morrisville, NC 27560-7213 | NC | 2001-06 | $5,212,835 |
| 4 | Mid-East Housing Incorporated | 809 Pennsylvania Ave, Washington, NC 27889-3824 | NC | 1998-07 | $217,544 |
| 5 | Mid-East Resource Conservation And Development Council | Po Box 20588, Greenville, NC 27858 | NC | 1987-09 | $96,962 |
| 6 | Mid-South Professional Cleaners Association | 5603 W Friendly Ave Ste B Pmb 289, Greensboro, NC 27410-4252 | NC | 1977-03 | $31,807 |
| 7 | Middle American Institute Inc | Po Box 17417, Raleigh, NC 27619 | NC | 2002-06 | $250,355 |
| 8 | Middle Creek High School Band Booster Club Inc | 123 Middle Creek Park Ave, Apex, NC 27539-7983 | NC | 2004-03 | $83,575 |
| 9 | Middle Creek High School Booster Club | 123 Middle Creek Park Ave, Apex, NC 27539-7983 | NC | 2004-02 | $65,421 |
| 10 | Middle Creek High School Stampede Club | 123 Middle Creek Park Ave, Apex, NC 27539-7983 | NC | 2003-10 | $370,449 |
| 11 | Midgard Foundation | PO BOX 7286, Asheville, NC 28802-7286 | NC | 1966-08 | $32,636 |
| 12 | Midland Magic | 2400 Killdeer Ln, Monroe, NC 28110 | NC | 2006-11 | $0 |
| 13 | Midland Volunteer Fire And Rescue Inc | 12805 Highway 601, Midland, NC 28107-9451 | NC | 1989-10 | $699,738 |
| 14 | Midway Fire & Rescue Department Inc | 228 Midway School Rd, Lexington, NC 27295-5608 | NC | 2002-09 | $1,010,003 |
| 15 | Midway Swim And Racquet Club Inc | PO BOX 994, Welcome, NC 27374-0994 | NC | 1974-07 | $62,577 |
| 16 | Metrolina Business Council Inc | PO BOX 31423, Charlotte, NC 28231-1423 | NC | 2009-04 | $46,453 |
| 17 | Mignon W Dubbs Fellowship Trust Fund 1519158954 | 1 W 4th St 4th Floor, Winston Salem, NC 27101-3818 | NC | 2000-03 | $1,180,770 |
| 18 | Migrant Benevolent Association Inc | Local, Salemburg, NC 28385 | NC | 1987-04 | $227,777 |
| 19 | Mike And Joan Brown Family Foundation | 8919 Park Rd, Charlotte, NC 28210-7610 | NC | 2008-03 | $792,024 |
| 20 | Mike Chadwick Ministries Inc | 7330 Chapel Hill Rd No 107, Raleigh, NC 27607 | NC | 1998-07 | $66,708 |
Organization representatives - add corrected or new information about Midgard Foundation »
Non-representatives - add comments about Midgard Foundation»