Mccormack Family Foundation in Chicago, 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
| Mccormack Family Foundation | |
| Employer Identification Number (EIN) | 264397091 |
| Name of Organization | Mccormack Family Foundation |
| Address | 6877 N Jean Ave, Chicago, IL 60646-1350 |
| Subsection | Charitable Organization |
| Ruling Date | 07/2009 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2012 |
| Assets | $10,000 to $24,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $11,355 |
| Amount of Income | $101,781 |
| Form 990 Revenue Amount | $-5,809 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2012: $101,781 (it was $61,624 in 2011)
| This organization: | $101,781 |
| Other organizations performing similar types of work: | $72,190 |
Assets in 2012: $11,355 (it was $71,660 in 2011)
| This organization: | $11,355 |
| Other organizations performing similar types of work: | $42,723 |
Expenses in 2012: $86,122
| Mccormack Family Foundation: | $86,122 |
| Other organizations performing similar types of work: | $42,209 |
Income to expenses ratio in 2012: 1.2
| This organization: | 1.2 |
| Other organizations performing similar types of work: | 0.4 |
Grants share in income in 2012: 40.4%
| This organization: | 40.4% |
| Other organizations performing similar types of work: | 4.7% |
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 | $7,368 | $3,518 | $0 | |
| Contributions, gifts, grants, etc., received | $2,975 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $1,903 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $875 | |||
| Other | $1,615 | |||
| Total expenses and disbursements | $86,122 | $75 | $0 | $80,556 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $5,566 | $75 | $0 | |
| Contributions, gifts, grants paid | $80,556 | |||
| Excess of revenue over expenses and disbursements | $-78,754 | |||
| Net investment income | $3,443 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $11,355 | $11,077 |
| Cash - non-interest-bearing | $968 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $10,387 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $11,355 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $1,615 |
| 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 | $69 |
| Total credits and payments | $100 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $0 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $100 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $31 |
| Amount to be credited to 2013 estimated tax | $31 |
| 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 | $55,896 |
| Net value of noncharitable-use assets | $55,060 |
| Minimum investment return | $2,753 |
| Distributable Amount (for 2012) | |
| Distributable amount | $2,684 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $2,684 |
| 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 | Rotary International, South Hill Rotary Club | PO BOX 922, South Hill, VA 23970-0922 | VA | 2008-06 | $70,044 |
| 2 | Ada Schupp Foundation | 53 W Jackson Blvd Ste 820, Chicago, IL 60604-3486 | IL | 2014-04 | $1,741,918 |
| 3 | Walter And Phyllis Ann Borten Foundation | 10 S Dearborn Il1-0117, Chicago, IL 60603-2300 | IL | 2010-08 | $1,172,155 |
| 4 | Morton Grove Days Commission | 6101 Capulina Ave, Morton Grove, IL 60053-2902 | IL | 2014-08 | $145,891 |
| 5 | Sweet Hope Chicago Nfp | 2504 N Orchard St Ste 1, Chicago, IL 60614-2512 | IL | 2004-03 | $107,732 |
| 6 | Mccormack Family Foundation | 6877 N Jean Ave, Chicago, IL 60646-1350 | IL | 2009-07 | $101,781 |
| 7 | Young Irish Fellowship Club Of Chicago Charities | C/O Old St Patricks Church 711 W, Chicago, IL 60661 | IL | 1999-12 | $86,556 |
| 8 | Whisper Memorial Foundation | 5532 Durand Dr, Downers Grove, IL 60515-4265 | IL | 2008-11 | $84,850 |
| 9 | Cook County Bar Association Bench & Bar Spouses | 4325 S Oakenwald Ave, Chicago, IL 60653-3705 | IL | 2008-12 | $66,803 |
| 10 | Kevin Meyer Memorial Foundation | 5323 Bundle Flower Ct, Naperville, IL 60564-4333 | IL | 2009-07 | $61,893 |
| 11 | Regular Grand Lodge Of Illinois | 1533 S Pulaski Rd, Chicago, IL 60623-1953 | IL | 2005-05 | $61,436 |
| 12 | Rockets Foundation | PO BOX 56, Mount Carmel, IL 62863-0056 | IL | 2014-08 | $56,525 |
| 13 | Wilmette Harbor Rotary Club Foundation | PO BOX 731, Wilmette, IL 60091-0731 | IL | 2005-09 | $53,975 |
| 14 | Silverman-Sutherland Family Foundation | 984 Spruce St, Winnetka, IL 60093-2217 | IL | 2000-12 | $50,014 |
| 15 | Friends Of Fred Inc | 10224 S Saint Louis Ave, Evergreen Pk, IL 60805-3728 | IL | 2011-04 | $46,874 |
| 16 | Sherry Lee Goldberg Cares Foundation Inc | 2801 Lakeside Dr Ste 300, Bannockburn, IL 60015-1275 | IL | 2014-09 | $46,296 |
| 17 | Sons & Daughters Of Italy In America | 904 S Roselle Rd, Schaumburg, IL 60193-3963 | IL | 2010-02 | $43,649 |
| 18 | Rotary Club Of Chicagoland Korean-Northbrook Charitable Proje | 2241 White Oak Dr, Northbrook, IL 60062-6359 | IL | 2009-12 | $31,310 |
| 19 | Books To Benefit | 223 Leland St, Bloomington, IL 61701 | IL | 2014-04 | $29,370 |
| 20 | Deerfield Lions Club Foundation | PO BOX 11, Deerfield, IL 60015-0011 | IL | 2008-08 | $27,358 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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