Robert & Nina Mccarthy Foundation in Wellsboro, Pennsylvania (PA)

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Robert & Nina Mccarthy Foundation
Employer Identification Number (EIN)311623543
Name of OrganizationRobert & Nina Mccarthy Foundation
Address90 Main St, Wellsboro, PA 16901-1517
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date12/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$47,303
Amount of Income$43,469
Form 990 Revenue Amount$13,607
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations

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Amount of income in 2010: $43,469 (it was $13,607 in 2011)
Robert & Nina Mccarthy Foundation: 

Other organizations performing similar types of work: 


Assets in 2010: $47,303 (it was $8,479 in 2011)
Robert & Nina Mccarthy Foundation: 

Other organizations performing similar types of work: 


Expenses in 2011: $52,431
This organization: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2011: 0.8
Robert & Nina Mccarthy Foundation: 

Other organizations performing similar types of work: 


Grants share in income in 2011: 0.0%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Expenses for 2011

Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$13,607$13,607$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$52,431$0$0$51,300
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$1,131$0$0
Contributions, gifts, grants paid$51,300
Excess of revenue over expenses and disbursements$-38,824
Net investment income$13,607
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$8,479$8,479
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Total liabilities$1
Mortgages and other notes payable$0
Total liabilities and net assets/fund balances$8,479
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$13,607
Net capital loss$0
Excise Tax Based on Investment Income (for 2011)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$136
Total credits and payments$734
2011 estimated tax payments and 2010 overpayment credited to 2011$734
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
Amount to be credited to 2012 estimated tax$598
Statements Regarding Activities (for 2011)
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 2011 or the taxable year beginning in 2011?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2011)
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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011?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 2011)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$29,671
Net value of noncharitable-use assets$29,220
Minimum investment return$1,461
Distributable Amount (for 2011)
Distributable amount$1,325
Undistributed Income (for 2011)
Distributable amount for 2011$1,325
Undistributed income for 2011. This amount must be distributed in 2012$0
Private Operating Foundations (for 2011)
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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1Tony Patino Fellowship Trust 783352PO BOX 1297, New York, NY 10008-1297NY1997-10$1,573,984
2The Schechter Institutes Inc2300 Computer Ave No D-18, Willow Grove, PA 19090-1736PA1995-10$5,548,333
3Reading Terminal Market Corporation12th And Arch Streets, Philadelphia, PA 19107PA1994-10$4,953,714
4Wesbury Foundation31 North Park Avenue Extension, Meadville, PA 16335PA1996-07$3,485,394
5Southern York County School District FoundationPO BOX 128, Glen Rock, PA 17327-0128PA1998-01$236,953
6Spring-Ford Area School District Educational Foundation857 S Lewis Rd, Royersford, PA 19468-2711PA1993-06$110,905
7Robert & Nina Mccarthy Foundation90 Main St, Wellsboro, PA 16901-1517PA1998-12$43,469
8Wilson J And Karen A Farmerie Charitable Foundation20 Stanwix St Ste 650, Pittsburgh, PA 15222-4803PA1998-01$15,705
9Violetta L Colcord U W Fbo Delaware Ave Baptist Church 10225085aroPO BOX 185, Pittsburgh, PA 15230-0185PA1998-08$11,978
10William D & Katharine H Goodwin Memorial TrPO BOX 609, Pittsburgh, PA 15230-0609PA1998-08$9,697
11T P I Foundation45 S 23rd St, Pittsburgh, PA 15203-2120PA1996-04$4,731
12Muskets Of The Crown Inc821 W Siddonsburg Rd, Dillsburg, PA 17019PA1994-12$3,960
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15Kiwanis Club Of Chambersburg Foundation637 Greenfield Dr, Chambersburg, PA 17202-7408PA1998-03$0
16Makefield Womens AssociationPo Box 163, Yardley, PA 19067PA1995-07$0
17Mark Mcnaughtons Dollars For Scholars Inc669 Feidt Rd, Millersburg, PA 17061-9264PA1998-08$0
18North Suburban Builders Charitable Foundation150 Richmond Circle, Pittsburgh, PA 15237PA1992-06$0
19Shady Side Academy Foundation423 Fox Chapel Rd, Pittsburgh, PA 15238-2296PA1995-05$0
20St Vincent Ferrer Svf Parent Teacher Organization411 Byng St, Ellwood City, PA 16117PA1984-12$0
Number of organizations performing similar types of work
District of Columbia7
North Carolina53
North Dakota3
New Jersey46
New Mexico3
New York83
Rhode Island6
South Carolina19
South Dakota2
West Virginia1
Total1,101 is not associated with, endorsed by, or sponsored by Robert & Nina Mccarthy Foundation and has no official or unofficial affiliation with Robert & Nina Mccarthy Foundation