Michel Family Foundation Inc in Greensboro, North Carolina (NC)
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 North Carolina
| Michel Family Foundation Inc | |
| Employer Identification Number (EIN) | 561853139 |
| Name of Organization | Michel Family Foundation Inc |
| In Care of Name | Albert J Michel |
| Address | 4102 Angelica Ln, Greensboro, NC 27410-8818 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 02/1994 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2011 |
| 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) (990-PF required) |
| Asset Amount | $3,503,583 |
| Amount of Income | $2,534,682 |
| Form 990 Revenue Amount | $421,691 |
Non-representatives - add comments:
Revenue for 2011
Expenses for 2011
Assets for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $421,691 | $421,691 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $5 | |||
| Dividends and interest from securities | $189,133 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $232,553 | |||
| Total expenses and disbursements | $370,786 | $27,658 | $0 | $343,058 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $29,636 | $27,658 | $1,908 | |
| Contributions, gifts, grants paid | $341,150 | |||
| Excess of revenue over expenses and disbursements | $50,905 | |||
| Net investment income | $394,033 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $3,503,583 | $3,804,875 |
| Cash - non-interest-bearing | $28,797 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $2,339,109 | |
| Investments-corporate bonds | $938,449 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $197,228 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $3,503,583 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $232,553 |
| 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 | $3,940 |
| Total credits and payments | $5,270 |
| 2011 estimated tax payments and 2010 overpayment credited to 2011 | $5,270 |
| 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 |
| Overpayment | $1,330 |
| Amount to be credited to 2012 estimated tax | $1,330 |
| 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 | $4,218,991 |
| Net value of noncharitable-use assets | $4,155,700 |
| Minimum investment return | $207,785 |
| Distributable Amount (for 2011) | |
| Distributable amount | $203,845 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $203,845 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $0 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | 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 North Carolina | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Mia Hamm Foundation | 5315 Highgate Dr Ste 204, Durham, NC 27713-6623 | NC | 1999-06 | $258,714 |
| 2 | Micah 6-8 Foundation | 976 Mlk Jr Blvd Ste 150, Chapel Hill, NC 27514 | NC | 2007-05 | $28,735 |
| 3 | Micah Foundation | 4120 Dresden Dr, Winston Salem, NC 27104-1534 | NC | 1999-12 | $14,902 |
| 4 | Michael And Laura Brader-Araje Foundation | 109 E Franklin St Ste 200, Chapel Hill, NC 27514-3564 | NC | 2000-10 | $1,400,113 |
| 5 | Michael G Curran Family Foundation | 130 Arabella Ct, Cary, NC 27518-7155 | NC | 2004-04 | $1,805,473 |
| 6 | Michael Harasimik Education Foundation | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1985-09 | $179,172 |
| 7 | Michael J Kosloski Foundation, Kosloski Leo Et Al Ttee | 1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262 | NC | 2000-12 | $1,053,124 |
| 8 | Michael Jones Foundation | PO BOX 674, Tabor City, NC 28463-0674 | NC | 2005-03 | $84,022 |
| 9 | Michael S Applestein Scholarship Fund, Union Trust Co Of Maryland | 1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262 | NC | 1974-12 | $448,077 |
| 10 | Michael Yang Foundation | 102 Wyndham Way, Salisbury, NC 28147-7266 | NC | 2003-03 | $23,638 |
| 11 | Michel Family Foundation Inc | 4102 Angelica Ln, Greensboro, NC 27410-8818 | NC | 1994-02 | $2,534,682 |
| 12 | Micro Enterprise Loan Program Of Winston-Salem Forsyth County Inc | 301 N Main St Ste 2221, Winston Salem, NC 27101-3819 | NC | 1994-08 | $13,689 |
| 13 | Micronesia Outreach Ministries Inc | PO BOX 24882, Winston Salem, NC 27114-4882 | NC | 2014-12 | $0 |
| 14 | Mid Atlantic Fly In And Sport Aviation Convention Inc | 163 Airport Blvd, Lumberton, NC 28358-6901 | NC | 2001-11 | $98,701 |
| 15 | Mid Atlantic Foundation | PO BOX 2063, Goldsboro, NC 27533-2063 | NC | 1997-06 | $14,439 |
| 16 | Mid Atlantic Officials Association, Maoa | 13204 Carriage Hills Ct, Raleigh, NC 27614-6501 | NC | 2004-08 | $124,032 |
| 17 | Mid Atlantic Safety Council | 3904 Oleander Dr, Wilmington, NC 28403-6717 | NC | 2004-05 | $1,044,931 |
| 18 | Mid Carolinas Tres Dias Inc | 7736 Sedgebrook Dr E, Stanley, NC 28164 | NC | 1991-01 | $0 |
| 19 | Mid-Atlantic Christian University Foundation Inc | 715 N Poindexter St, Elizabeth Cty, NC 27909-4054 | NC | 1997-12 | $208,459 |
| 20 | Mid-Atlantic Circulation Managers Association Inc | 145 Back Porch Ln, Maysville, NC 28555-9573 | NC | 1995-11 | $28,640 |
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