Max Kagan Family Foundation in Rockport, Massachusetts (MA)
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
- Other organizations in Massachusetts
| Max Kagan Family Foundation | |
| Employer Identification Number (EIN) | 016019033 |
| Name of Organization | Max Kagan Family Foundation |
| In Care of Name | Paula Kagan |
| Address | 2 Old Garden Rd, Rockport, MA 01966-1717 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 06/1959 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| 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 | $3,236,148 |
| Amount of Income | $1,677,921 |
| Form 990 Revenue Amount | $218,120 |
Non-representatives - add comments:
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 | $261,043 | $231,581 | $0 | |
| Contributions, gifts, grants, etc., received | $20,150 | |||
| Interest on savings and temporary cash investments | $13,554 | |||
| Dividends and interest from securities | $85,026 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $9,312 | |||
| Other | $133,001 | |||
| Total expenses and disbursements | $148,408 | $34,316 | $0 | $154,083 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $4,239 | $34,316 | $9,914 | |
| Contributions, gifts, grants paid | $144,169 | |||
| Excess of revenue over expenses and disbursements | $112,635 | |||
| Net investment income | $197,265 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $3,106,652 | $3,379,129 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $174,813 | |
| Investments-corporate stock | $2,312,233 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $434,058 | |
| Other | $185,548 | |
| Total liabilities | $84,662 | |
| Mortgages and other notes payable | $0 | |
| Other | $84,662 | |
| Total liabilities and net assets/fund balances | $3,021,990 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $133,001 |
| 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 | $1,973 |
| Total credits and payments | $587 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $587 |
| 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 | $17 |
| Tax due | $1,403 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| 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 | $3,261,091 |
| Net value of noncharitable-use assets | $3,212,180 |
| Minimum investment return | $160,609 |
| Distributable Amount (for 2012) | |
| Distributable amount | $158,636 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $158,636 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $4,553 |
| 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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| Other organizations in Massachusetts | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Melvina Foundation | 171 Park Ave, Arlington, MA 02476-5828 | MA | 1969-01 | $1,860,615 |
| 2 | Members Plus Credit Union | 29 High St, Medford, MA 02155-3801 | MA | 1941-08 | $8,297,178 |
| 3 | Memorial For Greater Hudson Charities Inc | 36 Sears Rd, Wayland, MA 01778-2116 | MA | 1997-04 | $18,615 |
| 4 | Memorial Foundation For The Blind Inc | 799 West Boylston Street, Worcester, MA 01606-3071 | MA | 1951-06 | $1,549,499 |
| 5 | Memorial Hall Cultural Center Inc | 50 Congress Street, Milford, MA 01757-2044 | MA | 1981-06 | $125 |
| 6 | Memorial Library Association Incorporated Of Dennis | 1020 Old Bass River Rd, Dennis, MA 02638-2523 | MA | 1951-10 | $135,402 |
| 7 | Memorial Parent Teacher Organization | 69 Main Street, Upton, MA 01568 | MA | 2005-12 | $61,775 |
| 8 | Memorial Spaulding School Extended Day Program Inc | 250 Brookline St, Newton Centre, MA 02459-3137 | MA | 1986-05 | $405,451 |
| 9 | Memorial-Spauling Parent Teacher Organization Inc | C/O Daniel Xia 51 Dudley Road, Newton Center, MA 02459 | MA | 2013-06 | $229,740 |
| 10 | Memoryride Inc | PO BOX 412, Cataumet, MA 02534-0412 | MA | 1997-10 | $23 |
| 11 | Max Kagan Family Foundation | 2 Old Garden Rd, Rockport, MA 01966-1717 | MA | 1959-06 | $1,677,921 |
| 12 | Massachusetts Chess Association, Maca | 15 Adams St, Medford, MA 02155 | MA | 1980-08 | $0 |
| 13 | Massachusetts Council For Exceptional Children | PO BOX 600413, Newtonville, MA 02460-0004 | MA | 2000-12 | $44,601 |
| 14 | Massachusetts Teachers Association, 379 Winchester Educ Assn | 573 Main Street, Winchester, MA 01890-2900 | MA | 1972-10 | $356,977 |
| 15 | Medical Outcomes Trust Inc | 175 Derby St Ste 42, Hingham, MA 02043-4053 | MA | 1993-12 | $39,321 |
| 16 | M A E Inc | 46 Lyn Ln, Middleboro, MA 02346-1835 | MA | 2003-01 | $5,550 |
| 17 | Mastokids Inc | 18 Horseshoe Dr, Townsend, MA 01469 | MA | 2003-10 | $8,510 |
| 18 | M Roger And Anne Melby Clapp Foundation | 3 Florence Ter, Arlington, MA 02476-5911 | MA | 1987-04 | $9,579,228 |
| 19 | Mary Alice Arakelian Foundation | 225 Franklin St, Boston, MA 02110-2804 | MA | 1967-10 | $2,312,094 |
| 20 | Mastwood Charitable Foundation | PO BOX 55806, Boston, MA 02205-5806 | MA | 2000-11 | $50,746 |
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