MRC FULL CIRCLE FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
MRC FULL CIRCLE FOUNDATION (EIN 86-2444181)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-03-26
IRS object ID
202420869349100207
Schema version
2023v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-03-26T06:48:57-07:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN454046657PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BIRKHILL ASSOCIATES LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 1850AddressLine1Txt
CityMIDDLEBURGCityNm
State AbbreviationVAStateAbbreviationCd
ZIP20118ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN862444181EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MRC Full Circle FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMRCFBusinessNameControlTxt
Phone2122072100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1c/o Corient 845 3rd Ave Fl 8AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMichael R CranePersonNm
Person TitlePresidentPersonTitleTxt
Signature2024-03-26SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstMichael RPersonFirstNm
Person LastCranePersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRobert N WilesPreparerPersonNm
PTINP00362763PTIN
Phone5406878884PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
Federated Assurance LevelFAL1FederatedAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$11,321,966FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$104,606InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$104,606InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$160,624DividendsRevAndExpnssAmt
Dividends Net Invst Incm$160,624DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$1,185,078NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,229,833GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$1,185,078CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,450,308TotalRevAndExpnssAmt
Total Net Invst Incm$1,450,308TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$6,400AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$6,400AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$78,180OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$78,180OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$304TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$84,884TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$84,580TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$435,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$435,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$519,884TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$84,580TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$435,000TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$930,424ExcessRevenueOverExpensesAmt
Net Investment Income$1,365,728NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$450,916SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$4,560,389SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$4,560,389SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY$3,911,667USGovernmentObligationsBOYAmt
US Government Obligations EOY$100,889USGovernmentObligationsEOYAmt
US Govt Obligations EOYFMV$99,487USGovtObligationsEOYFMVAmt
Corporate Stock BOY$1,165,238CorporateStockBOYAmt
Corporate Stock EOY$2,868,066CorporateStockEOYAmt
Corporate Stock EOYFMV$6,662,090CorporateStockEOYFMVAmt
Total Assets BOY$5,527,821TotalAssetsBOYAmt
Total Assets EOY$7,529,344TotalAssetsEOYAmt
Total Assets EOYFMV$11,321,966TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$5,527,821RetainedEarningBOYAmt
Retained Earning EOY$7,529,344RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$5,527,821TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$7,529,344TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$5,527,821TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$7,529,344TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$5,527,821TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$930,424ExcessRevenueOverExpensesAmt
Other Increases$1,071,099OtherIncreasesAmt
Subtotal$7,529,344SubtotalAmt
Tot Net Ast Or Fund Balances EOY$7,529,344TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (5 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
9 shares Regal Beloit CorpP2003-05-302023-12-14$1,333$1,108$225$225
1,000 shares Toronto Dominion BankP1912-12-172023-12-14$62,710$27,235$35,475$35,475
427 shares Autozone IncP1912-12-172023-12-14$1,141,766$10,469$1,131,297$1,131,297
.33 share Veralto CorpP1912-12-172023-10-10$25$3$22$22
308 shares Veralto CorpP1912-12-172023-10-04$23,999$5,940$18,059$18,059
FieldValueIRS element (for citing)
Capital Gain Net Income$1,185,078CapitalGainNetIncomeAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$18,984InvestmentIncomeExciseTaxAmt
Subtotal$18,984SubtotalAmt
Tax Based On Investment Income$18,984TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$2,483EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$2,483TotalPaymentsAndCreditsAmt
Tax Due$16,501TaxDueAmt
Applied To ES Tax$0AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1InvernessBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2122072100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1845 3rd Ave Fl 8AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Acts Fail To Qlfy As ExceptionsfalseActsFailToQlfyAsExceptionsInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmt
Michael R Crane
PO Box 1850MiddleburgVA20118President0.04$0
Philip S Lawrence
845 3rd Ave Fl 8New YorkNY10022Secretary0.05$0
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt

Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CorientBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1845 Third AveAddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10022ZIPCd
FieldValueIRS element (for citing)
Service TypeAsset ManagementServiceTypeTxt
Compensation$71,739CompensationAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$6,366,080AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$4,134,163AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$10,500,243TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$10,500,243AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$157,504CashDeemedCharitableAmt
Net Vl Noncharitable Assets$10,342,739NetVlNoncharitableAssetsAmt
Minimum Investment Return$517,137MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$517,137MinimumInvestmentReturnAmt
Tax Based On Investment Income$18,984TaxBasedOnInvestmentIncomeAmt
Total Tax$18,984TotalTaxAmt
Distributable Before Adj$498,153DistributableBeforeAdjAmt
Distributable Before Ded$498,153DistributableBeforeDedAmt
Distributable As Adjusted$498,153DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$435,000ExpensesAndContributionsAmt
Qualifying Distributions$435,000QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$498,153DistributableAsAdjustedAmt
Undistributed Income PY$177,883UndistributedIncomePYAmt
Excess Distribution Cyov Yr1$14,359ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$14,359TotalExcessDistributionCyovAmt
Qualifying Distributions$435,000QualifyingDistributionsAmt
Applied To Year1$177,883AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$257,117AppliedToCurrentYearAmt
Excess Distri Cyov App CY Corpus$14,359ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$14,359ExcessDistributionCyovAppCYAmt
Undistributed Income CY$226,677UndistributedIncomeCYAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp

FieldValueIRS element (for citing)
Recipient PersonSchedule AttachedRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line1VariousAddressLine1Txt
CityVariousCityNm
State AbbreviationVAStateAbbreviationCd
ZIP20117ZIPCd
FieldValueIRS element (for citing)
Recipient RelationshipNoneRecipientRelationshipTxt
Recipient Foundation StatusPCRecipientFoundationStatusTxt
Grant Or Contribution PurposeCharitable DonationGrantOrContributionPurposeTxt
Amt$435,000Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$435,000TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$104,606ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$160,624ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$225ExclusionAmt
Related Or Exempt Function Incm$1,184,853RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$265,455ExclusionAmt
Related Or Exempt Function Incm$1,184,853RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,450,308TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail

FieldValueIRS element (for citing)
Amt$6,400Amt
Net Investment Income$6,400NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescCash and Securites transferred from BC Family FoundationDesc
Amt$1,071,099Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Custody fees$6,441$6,441$0$0
Management Fees$71,739$71,739$0$0

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryTaxesCategoryTxt
Amt$304Amt

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