Myrie Bowen Shanks Charitable Trust in Chicago, Illinois (IL)

Organization representatives - add corrected or new information about Myrie Bowen Shanks Charitable Trust »

Non-representatives - add comments about Myrie Bowen Shanks Charitable Trust»

Myrie Bowen Shanks Charitable Trust
Employer Identification Number (EIN)756472056
Name of OrganizationMyrie Bowen Shanks Charitable Trust
In Care of NameJp Morgan Chase Bank Na
Address10 S Dearborn, Chicago, IL 60603-2300
ActivitiesNon-exempt charitable trust described in section 4947(a)(1) of the Code
SubsectionCharitable Organization
Ruling Date11/1995
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period05/2014
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$2,419,342
Amount of Income$1,031,375
Form 990 Revenue Amount$98,451
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Named Trusts/Foundations (Not Elsewhere Classified)

Non-representatives - add comments:


Your IP address will be logged.

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$170,731$170,083$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$48,769
Gross rents$0
Gross sales price for all assets$991,569
Gross profit from sales of goods$0
Other income$470
Total expenses and disbursements$148,636$22,623$0$126,012
Compensation of officers, directors, trustees, etc.$29,762
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$30,064$22,623$7,440
Contributions, gifts, grants paid$118,572
Excess of revenue over expenses and disbursements$22,095
Net investment income$147,460
Adjusted net income$0
Balance Sheets
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$2,383,376$2,521,117$2,405,437$2,717,364
Cash - non-interest-bearing$4,781$3,173
Investments-U.S. and state government obligations$0$0
Investments-corporate stock$1,301,400$1,142,264
Investments-corporate bonds$1,003,652$728,625
Investments-mortgage loans$0$0
Other assets$109
Total liabilities$1$0
Total liabilities and net assets/fund balances$2,383,376$2,405,437
Capital Gains and Losses for Tax on Investment Income
Capital gain net income$41,808$121,492
Net capital loss$0$0
Excise Tax Based on Investment Income
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$770$1,475
Total credits and payments$2,040$4,500
Current year estimated tax payments and previous year's overpayment credited to current year$2,040$800
Exempt foreign organizations-tax withheld at source$0$0
Tax paid with application for extension of time to file (Form 8868)$0$3,700
Backup withholding erroneously withheld$0$0
Any penalty for underpayment of estimated tax$0$0
Tax due$0
Amount to be credited to next year's estimated tax$800$1,476
Statements Regarding Activities
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?NoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?No
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?No
Has the foundation filed a tax return on Form 990-T for this year?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?Yes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNo
Did any persons become substantial contributors during the tax year?No
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?No
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?Yes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041No
Statements Regarding Activities for Which Form 4720 May Be Required
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?No
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?No
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?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))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
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)?NoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?No
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
Minimum Investment Return
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$2,566,619$2,642,311
Net value of noncharitable-use assets$2,602,676
Minimum investment return$126,406$130,134
Distributable Amount
Distributable amount$125,636$128,659
Undistributed Income
Distributable amount for this year$125,636$128,659
Undistributed income for this year. This amount must be distributed in the next year$118,572$121,219
Private Operating Foundations (for 2010 - 2013)
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
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$48,769$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
Write your review!

Your Ratings

You can rate this nonprofit in different categories from 1 star (worst) to 5 stars (best) or leave category unrated


Your Review

Would you recommend Myrie Bowen Shanks Charitable Trust to others? (optional)
Add photo of Myrie Bowen Shanks Charitable Trust (optional)

About You

Your nickname:

Optional Verification

(additional info to increase the weight and the placement of your review and ratings)

Real Name:
Email (won't be published):
Date and time of your visit to this nonprofit:
Phone number (won't be published):
Leave your signature»
Other organizations in Illinois
IdNameAddressStateEstablishedTotal Income
1National Fraternity Of Phi Gamma Nu, Phi Gamma Nu - Beta Pi Chapter515 E Gregory Dr Room 1055, Champaign, IL 61820IL1982-09$55,417
2National Introducing Brokers Association, C-O Gerald L Fishman55 W Monroe St Ste 3600, Chicago, IL 60603-5026IL1992-06$62,325
3National Association Of Waste Transporters Inc3150 W Higgins Rd, Hoffman Estates, IL 60169-7237IL2002-01$143,639
4Newtown Cemetary Assn Trust Uw 119860501010 S Dearborn Il1-0117, Chicago, IL 60603-2300IL$64,438
5National Association Of Orthopaedic Nurses Inc330 North Wabash Avenue Suite 2000, Chicago, IL 60611IL1981-07$0
6Musculoskeletal Tumor Society6300 N River Road, Rosemont, IL 60018-4206IL1995-01$382,261
7National Society To Prevent Blindness, Va Affil-Prevnt Blindnss Mid-Atltic211 W Wacker Dr Ste 1700, Chicago, IL 60606-1375IL1990-07$611,400
8Natl Society Women Descendants Of The Ancient & Honorable Artillery902 26th Ave Ct, Silvis, IL 61282IL2010-06$0
9Muriel Thauer Scholarship Fund111 W Monroe St Tax Div 10c, Chicago, IL 60603IL1969-06$84,676
10Muse Machine Irrv Charitable Tr10 S Dearborn, Chicago, IL 60603-2300IL1999-11$587,405
11Myrie Bowen Shanks Charitable Trust10 S Dearborn, Chicago, IL 60603-2300IL1995-11$1,031,375
12Myrla Block Trust Under Will10 S Dearborn, Chicago, IL 60603-2300IL1992-08$49,218
13Myrtle E And William G Hess Charitable Trust10 S Dearborn, Chicago, IL 60603-2300IL1985-10$3,990,290
14Mame B Clarkston Trust10 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1972-01$1,422,662
15Nance W T W & Dec Judge 183-685900620010 S Dearborn Il1-0117, Chicago, IL 60603-2300IL$35,760
16Nancy Bowyer Trust10 S Dearborn, Chicago, IL 60603-2300IL1999-07$88,375
17Nannie C Wallis Tr Uw Fbo Christian Church 340108840010 S Dearborn Il1-0117, Chicago, IL 60603-2300IL$107,403
18Naomi B Chambers Charitable Tr10 S Dearborn, Chicago, IL 60603-2300IL2007-12$5,778,197
19Nathan Sadie & Harriette Warsaw Charitable Trust 260009750010 S Dearborn, Chicago, IL 60603-2300IL2003-09$240,362
20National Academy Of Design Tr10 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1980-07$1,015,493 is not associated with, endorsed by, or sponsored by Myrie Bowen Shanks Charitable Trust and has no official or unofficial affiliation with Myrie Bowen Shanks Charitable Trust