The Mckelvey Entrepreneurial Foundation in New York, New York (NY)

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The Mckelvey Entrepreneurial Foundation
Employer Identification Number (EIN)020788451
Name of OrganizationThe Mckelvey Entrepreneurial Foundation
Address200 Park Ave 44th Floor, New York, NY 10166-0005
SubsectionCharitable Organization
Ruling Date02/2007
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
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$1,413,612
Amount of Income$1,210,803
Form 990 Revenue Amount$503,993
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2013: $1,210,803 (it was $3,760 in 2012)
The Mckelvey Entrepreneurial Foundation: 

 $1,210,803
Other organizations performing similar types of work: 

 $41,680

Assets in 2013: $1,413,612 (it was $3,395,088 in 2012)
The Mckelvey Entrepreneurial Foundation: 

 $1,413,612
Other organizations performing similar types of work: 

 $65,579

Expenses in 2012: $416,862
The Mckelvey Entrepreneurial Foundation: 

 $416,862
Other organizations performing similar types of work: 

 $24,470

Income to expenses ratio in 2012: 2.9
The Mckelvey Entrepreneurial Foundation: 

 2.9
Other organizations performing similar types of work: 

 0.5

Grants share in income in 2012: 46.9%
This organization: 

 46.9%
Other organizations performing similar types of work: 

 9.0%

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$3,760$1,996$0
Contributions, gifts, grants, etc., received$1,764
Interest on savings and temporary cash investments$55
Dividends and interest from securities$1,914
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$27
Total expenses and disbursements$416,862$0$0$416,072
Compensation of officers, directors, trustees, etc.$24,000
Total operating and administrative expenses$70,976$0$70,186
Contributions, gifts, grants paid$345,886
Excess of revenue over expenses and disbursements$-413,102
Net investment income$1,996
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$3,395,088$3,394,409
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$3,000,000
Investments-corporate bonds$150,000
Investments-mortgage loans$0
Investments-other$0
Other$245,088
Total liabilities$0
Total liabilities and net assets/fund balances$3,395,088
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$27
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$40
Total credits and payments$80
2012 estimated tax payments and 2011 overpayment credited to 2012$80
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$40
Amount to be credited to 2013 estimated tax$40
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?Yes
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?Yes
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$3,551,726
Net value of noncharitable-use assets$3,498,460
Minimum investment return$174,923
Distributable Amount (for 2012)
Distributable amount$174,883
Undistributed Income (for 2012)
Distributable amount for 2012$174,883
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
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2Subsea Tieback Scholarship Fund5418 Woodbury St, Fulshear, TX 77441-4139TX2007-10$101,112
3Tom Mcmahon Construction Scholarship Fund4441 S Abilene Cir, Aurora, CO 80015-1047CO2006-11$18,033
4Tikvah Fund165 E 56th St Ste 4th Fl, New York, NY 10022-2709NY1992-11$62,409,051
5The Teagle Foundation Incorporated570 Lexington Ave Fl 38, New York, NY 10022-6859NY2004-11$27,848,255
6Stephen Siller Tunnel To Towers Foundation2361 Hylan Blvd, Staten Island, NY 10306-3100NY2003-02$11,264,442
7Uncommon Lender IncC/O Rhf 826 Broadway 9th Floor, New York, NY 10003NY2012-08$7,345,749
8Joan And Irwin Jacobs Technion-Cornell Innovation Instit, Jacobs Technion-Cornell Innovation111 8th Ave Ste 302, New York, NY 10011-5204NY2014-12$6,393,580
9The International Council Of Shopping Centers Foundation Inc1221 Avenue Of The Americas 41st, New York, NY 10020NY1991-01$3,166,974
10Working In Support Of Education227 East 56th Street, New York, NY 10022-3754NY1999-06$2,208,439
11Yma Fashion Scholarship Fund1501 Broadway Ste 1810, New York, NY 10036-5600NY2007-06$2,006,098
12Uniformed Firefighters Associations Scholarship Fund Inc204 East 23rd Street, New York, NY 10010-4628NY2002-09$1,954,192
13Vhiv Inc477 Madison Ave Fl 10, New York, NY 10022-5841NY1991-06$1,568,689
14Ylry Inc477 Madison Ave Fl 10, New York, NY 10022-5841NY1993-08$1,471,992
15Santo J Speranza Schlrshp Tr 12181996One Court Square-29th Fl, Long Island City, NY 11120-0001NY2002-03$1,366,683
16Smbc Global Foundation Inc277 Park Avenue 5th Floor, New York, NY 10172-0003NY2013-11$1,267,623
17Wolstencroft Family Foundation, Goldman Sachs Family OfficePO BOX 73, New York, NY 10274-0073NY1999-03$1,230,680
18The Mckelvey Entrepreneurial Foundation200 Park Ave 44th Floor, New York, NY 10166-0005NY2007-02$1,210,803
19Hoffman Brothers Foundation Inc220 E 42nd St 5th Flr, New York, NY 10017-5806NY2011-06$1,173,321
20The Andrew K Dwyer Foundation, Dwyer Cynthia K Ttee756 Guard Hill Rd, Bedford, NY 10506-1042NY2003-08$940,767
Number of organizations performing similar types of work
Alaska48
Alabama286
Arkansas212
Arizona375
California2,590
Colorado397
Connecticut360
District of Columbia210
Delaware90
Florida1,248
Georgia644
Hawaii125
Iowa241
Idaho90
Illinois1,083
Indiana348
Kansas216
Kentucky271
Louisiana247
Massachusetts819
Maryland580
Maine135
Michigan690
Minnesota353
Missouri459
Mississippi159
Montana122
North Carolina631
North Dakota29
Nebraska124
New Hampshire145
New Jersey1,137
New Mexico122
Nevada157
New York1,581
Ohio902
Oklahoma233
Oregon274
Pennsylvania951
Rhode Island132
South Carolina243
South Dakota54
Tennessee325
Texas2,055
Utah196
Virginia649
Vermont87
Washington473
Wisconsin403
West Virginia110
Wyoming43
International27
Total23,481

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