Nonprofit · EIN 56-6050267
M & J FOUNDATION INC
Tax-exempt · RALEIGH, NC 27609
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $737,110 | $444,970 | $292,140 | $6,414,030 | $0 | $6,414,030 |
| December 31, 2023 | 990-PF | $263,667 | $426,211 | -$162,544 | $6,122,986 | $0 | $6,122,986 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $173,594
- Interest
- $4,189
- Net gain from sales of assets
- $419,910
- Other income
- $139,417
Expenses
- Grants and similar amounts paid
- $395,750
- Disbursements for charitable purposes
- $395,750
- Excise tax on investment income
- $9,562
Balance sheet and other
- Total assets, start of year
- $6,122,986
- Total assets, end of year
- $6,414,030
- Total liabilities, end of year
- $0
- Net assets, end of year
- $6,414,030
- Fair market value of assets
- $7,942,393
- Qualifying distributions
- $395,750
- Net investment income
- $737,110
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARCELLUS J BEST Jr 339 YADKIN DR, RALEIGH, NC 27609 | PRESIDENT | 10 | $0 |
| FRANK S BEST 339 YADKIN DR, RALEIGH, NC 27609 | DIRECTOR | 10 | $0 |
990-PF for the year ended December 31, 2023: 2 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARCELLUS J BEST JR 339 YADKIN DR, RALEIGH, NC 27609 | PRESIDENT | 10 | $0 |
| FRANK S BEST 339 YADKIN DR, RALEIGH, NC 27609 | DIRECTOR | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 339 YADKIN DR, RALEIGH, NC 27609-6362
- In care of
- % MARCELLUS J BEST
- Signed the 990-PF
- MARCELLUS J BEST, PRESIDENT
- Phone
- (919) 583-9290
- Return prepared by
- PARKER & PARKER PA
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 56-6050267
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1959
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $6,414,030
- Income (IRS master file)
- $3,073,162
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $737,110 | $444,970 | $6,414,030 | IRS |
| 990-PF | December 2023 | $263,667 | $426,211 | $6,122,986 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2019 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-6050267).
Questions about M & J FOUNDATION INC
- What is the EIN of M & J FOUNDATION INC?
- The employer identification number (EIN) of M & J FOUNDATION INC is 56-6050267.
- Is M & J FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1959.
- Are donations to M & J FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does M & J FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of M & J FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did M & J FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of M & J FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 2 people; 0 received compensation from the organization.
- How much revenue does M & J FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $737,110, expenses of $444,970 and total assets of $6,414,030 at year end.
Other nonprofits in RALEIGH
- STATE CHARTERED CREDIT UNIONS INC EIN 56-0475645 · last filed 990 for 2025
- WAKEMED EIN 56-6017737 · last filed 990 for 2025
- REX HOSPITAL INC EIN 56-1509260 · last filed 990 for 2025
- NORTH CAROLINA ELECTRIC MEMBERSHIP CORPORATION EIN 56-0995910 · last filed 990 for 2025
- NORTH CAROLINA INSURANCE EIN 23-7102759 · last filed 990 for 2025
- NC STATE INVESTMENT FUND INC EIN 31-1607634 · last filed 990 for 2025
- NORTH CAROLINA JOINT UNDERWRITING ASSOCIATION EIN 56-1222676 · last filed 990 for 2025
- FOOD BANK OF CENTRAL & EASTERN NORTH CAROLINA INC EIN 56-1283426 · last filed 990 for 2025