First Midwest Charitable Foundation in Itasca, Illinois (IL)
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
- Organizations performing similar types of work
| First Midwest Charitable Foundation | |
| Employer Identification Number (EIN) | 050545258 |
| Name of Organization | First Midwest Charitable Foundation |
| In Care of Name | First Midwest Bank |
| Address | One Pierce Pl 1500, Itasca, IL 60143-1253 |
| Subsection | Charitable Organization |
| Ruling Date | 01/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2014 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $2,089,332 |
| Amount of Income | $1,739,987 |
| Form 990 Revenue Amount | $148,596 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations |
Non-representatives - add comments:
Amount of income in 2014: $1,739,987 (it was $1,110,015 in 2012)
| First Midwest Charitable Foundation: | $1,739,987 |
| Other organizations performing similar types of work: | $107,502 |
Assets in 2014: $2,089,332 (it was $1,868,540 in 2012)
| This organization: | $2,089,332 |
| Other organizations performing similar types of work: | $322,766 |
Expenses in 2012: $149,756
| First Midwest Charitable Foundation: | $149,756 |
| Other organizations performing similar types of work: | $58,249 |
Income to expenses ratio in 2012: 11.6
| First Midwest Charitable Foundation: | 11.6 |
| Other organizations performing similar types of work: | 2.0 |
Grants share in income in 2012: 0.0%
| First Midwest Charitable Foundation: | 0.0% |
| Other organizations performing similar types of work: | 98.7% |
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 | $158,366 | $158,366 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $25,798 | |||
| Dividends and interest from securities | $51,078 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $72 | |||
| Other | $81,418 | |||
| Total expenses and disbursements | $149,756 | $2,231 | $0 | $147,525 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $2,256 | $2,231 | $25 | |
| Contributions, gifts, grants paid | $147,500 | |||
| Excess of revenue over expenses and disbursements | $8,610 | |||
| Net investment income | $156,135 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,868,540 | $2,067,883 |
| Cash - non-interest-bearing | $107,018 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,065,263 | |
| Investments-corporate bonds | $693,515 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $2,744 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,868,540 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $81,418 |
| 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 | $1,561 |
| Total credits and payments | $2,100 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $2,100 |
| 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 | $539 |
| Amount to be credited to 2013 estimated tax | $539 |
| 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 | $2,126,430 |
| Net value of noncharitable-use assets | $2,094,540 |
| Minimum investment return | $104,727 |
| Distributable Amount (for 2012) | |
| Distributable amount | $103,166 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $103,166 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| 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 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | S&c Foundation | 225 N Michigan Ave Ste 2200, Chicago, IL 60601-7672 | IL | 1999-04 | $13,483,302 |
| 2 | Nora And Richard Lewis Family Foundation Nfp | PO BOX 409, Streamwood, IL 60107-0409 | IL | 2013-12 | $1,988,902 |
| 3 | Earl D Schoeffner Charitable Tr, Janet Christensen Ttee | 5735 S State Route 1, Saint Anne, IL 60964-5286 | IL | 2011-12 | $1,597,784 |
| 4 | Sudbury Charitable Tr | PO BOX 803878, Chicago, IL 60680-3878 | IL | 2008-05 | $1,379,598 |
| 5 | David And Lynne Weinberg Family Foundation | 401 N Michigan Ave Ste 3050, Chicago, IL 60611-5515 | IL | 2012-04 | $1,023,681 |
| 6 | Frank A Knaphurst Fam Tua Tr | 231 S Lasalle St, Chicago, IL 60697-0001 | IL | 2010-09 | $990,190 |
| 7 | Roslyn And Joseph Perlman Foundation | 430 Clavey Ln, Highland Park, IL 60035-4531 | IL | 2003-01 | $907,133 |
| 8 | Simmons Mesothelioma Foundation | 1 Court St, Alton, IL 62002-6267 | IL | 2010-02 | $855,712 |
| 9 | William Erby Smith Foundation, Smith William Erby Ttee | 111 W Monroe - 16w, Chicago, IL 60603-4096 | IL | 1999-08 | $711,861 |
| 10 | James Dyson Foundation North America | 600 W Chicago Ave Ste 275, Chicago, IL 60654-2813 | IL | 2012-01 | $473,535 |
| 11 | Samuel J Rosenwasser Irrev Char Trust 33-2963860 | 10 S Dearborn, Chicago, IL 60603-2300 | IL | 1999-04 | $441,939 |
| 12 | Tampico Foundation | 3106 N Campbell Ave, Chicago, IL 60618-7921 | IL | 2012-08 | $246,479 |
| 13 | Wintrop Foundation Tr Ua 10242007, John Robinson Ttee | PO BOX 803878, Chicago, IL 60680-3878 | IL | 2008-01 | $193,327 |
| 14 | William H & Mary E Baker Charitable Tr | 2810 Frank Scott Pkwy W, Belleville, IL 62223-5007 | IL | 2003-03 | $148,534 |
| 15 | Assurance Caring Together Foundation | 1750 E Golf Road, Schaumburg, IL 60173-5835 | IL | 2012-01 | $134,065 |
| 16 | Seager Family Foundation | PO BOX 803878, Chicago, IL 60680-3878 | IL | 1999-07 | $119,869 |
| 17 | Gitm Foundation | 1802 Wildwood Lane, Metamora, IL 61548 | IL | 2011-09 | $107,075 |
| 18 | Midland States Bank Foundation | 1201 Network Centre Dr, Effingham, IL 62401-4602 | IL | 2012-05 | $102,828 |
| 19 | The Fifth Foundation | 2 N Riverside Plz, Chicago, IL 60606-2600 | IL | 2001-05 | $97,370 |
| 20 | Jonathan & Elke Glenner Foundation | 5454 Fargo Ave, Skokie, IL 60077-3210 | IL | 2011-04 | $59,893 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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