The Mario Modestini Foundation in New York, New York (NY)

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The Mario Modestini Foundation
Employer Identification Number (EIN)201766629
Name of OrganizationThe Mario Modestini Foundation
In Care of NameCheryl Rossum
Address310 E 75th St Apt 4l, New York, NY 10021-0210
SubsectionCharitable Organization
Ruling Date07/2005
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$1,456,306
Amount of Income$1,010,376
Form 990 Revenue Amount$96,817
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Fund Raising and/or Fund Distribution


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Amount of income in 2011: $1,010,376 (it was $934,316 in 2010)
The Mario Modestini Foundation: 

 $1,010,376
Other organizations performing similar types of work: 

 $76,723

Assets in 2011: $1,456,306 (it was $1,405,124 in 2010)
This organization: 

 $1,456,306
Other organizations performing similar types of work: 

 $63,275

Financial snapshot ($)

Revenue for 2011

Expenses for 2011

Assets for 2011

Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$96,817$96,817$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$37
Dividends and interest from securities$68,810
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$27,970
Total expenses and disbursements$70,167$20,074$0$49,993
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$25,167$20,074$4,993
Contributions, gifts, grants paid$45,000
Excess of revenue over expenses and disbursements$26,650
Net investment income$76,743
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$1,456,306$1,456,306
Cash - non-interest-bearing$18,170
Investments-U.S. and state government obligations$328,366
Investments-corporate stock$0
Investments-corporate bonds$734,639
Investments-mortgage loans$0
Investments-other$330,961
Other$44,170
Total liabilities$0
Total liabilities and net assets/fund balances$1,456,306
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$27,970
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$1,535
Total credits and payments$1,440
2011 estimated tax payments and 2010 overpayment credited to 2011$1,440
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$95
Amount to be credited to 2012 estimated tax$0
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$1,469,547
Net value of noncharitable-use assets$1,447,500
Minimum investment return$72,375
Distributable Amount (for 2011)
Distributable amount$70,840
Undistributed Income (for 2011)
Distributable amount for 2011$70,840
Undistributed income for 2011. This amount must be distributed in 2012$15,432
Private Operating Foundations (for 2011)
2011201020092008Total
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
IdNameAddressStateEstablishedTotal Income
1Icicle FundPO BOX 2025, Leavenworth, WA 98826-2025WA1999-05$13,768,408
2The Greater Charlotte Cultural Trust220 N Tryon St, Charlotte, NC 28202-2137NC2003-05$2,155,590
3Milwaukee Youth Arts Center Inc325 W Walnut St, Milwaukee, WI 53212-3868WI2003-04$513,566
4K-Play Sports Council Inc400 Cinchfield Street Ste 100, Kingsport, TN 37660TN2005-08$125,960
5Deep Run Band Boosters IncPO BOX 3060, Glen Allen, VA 23058-3060VA2003-08$100,437
6Paramount Theatre FoundationPO BOX 2063, Goldsboro, NC 27533-2063NC2007-03$32,174
7National Pipe Band Foundation IncPO BOX 47428, Baltimore, MD 21244-0428MD2004-01$3,750
8Democracy Prep Public Schools207 W 133rd St, New York, NY 10030-3201NY2007-06$2,988,927
9Fund For Ophthalmic Knowledge Inc101 Central Park West, New York, NY 10023-4250NY2001-06$1,474,362
10The Mario Modestini Foundation310 E 75th St Apt 4l, New York, NY 10021-0210NY2005-07$1,010,376
11Robert G Boehmler Community Foundation Inc65 Monroe Ave Ste A, Pittsford, NY 14534-1318NY1999-03$591,489
12American Foundation For The Parisschool Of Economics Inc149 E 63rd St, New York, NY 10065-7405NY2007-02$464,379
13Eccola Foundation, Roberts John B Ttee250 W 57th St Ste 1928, New York, NY 10107-1914NY2002-05$365,367
14Ddora FoundationPO BOX 287176, New York, NY 10128-0020NY2008-05$250,812
15Chapel Hill Foundation Inc107 Salmon River Rd, Plattsburgh, NY 12901-5730NY2001-06$105,740
16Lamda In AmericaC/O Kenneth Burrows 950 Third Ave, New York, NY 10022NY2005-06$82,476
17American Friends Of The National Institute Of Dramatic Art, Dramaic Art Institute Of Australia20 W 77th St, New York, NY 10024-5127NY2000-10$66,865
18Long Island Scottish Clan Macduff 81 Ltd58 Bayberry Dr, Huntington, NY 11743-4304NY2000-08$60,925
19Arts Booster Club82 Turkey Ln, Cold Spg Hbr, NY 11724-1703NY2007-10$55,519
20Elizabeth H Freeman Tr Uw 77930One M And T Plaza 8th Fl, Buffalo, NY 14203-2309NY2002-07$45,505
Number of organizations performing similar types of work
Alaska1
Arkansas1
Arizona9
California81
Colorado17
Connecticut5
District of Columbia9
Delaware9
Florida39
Georgia17
Hawaii6
Iowa10
Idaho1
Illinois18
Indiana10
Kansas6
Kentucky10
Louisiana8
Massachusetts21
Maryland14
Maine3
Michigan19
Minnesota7
Missouri7
Mississippi3
Montana5
North Carolina16
North Dakota4
Nebraska3
New Hampshire2
New Jersey10
New Mexico10
Nevada5
New York71
Ohio13
Oklahoma4
Oregon8
Pennsylvania17
Rhode Island3
South Carolina6
South Dakota3
Tennessee15
Texas41
Utah13
Virginia17
Vermont2
Washington14
Wisconsin9
West Virginia1
Wyoming1
International2
Total626

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