MJG FOUNDATION: Form 990PF, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
MJG FOUNDATION (EIN 46-1680937)
Tax period
2023-01-01 to 2023-12-31
Filed
2024-11-15
IRS object ID
202443209349106559
Schema version
2023v5.1
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)
Return2024-11-15T13:36:26-08:00ReturnTs
Tax Period End2023-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN870549457PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HARTLE & REES LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1448 EAST WINCHESTER STREET STE 225AddressLine1Txt
CitySALT LAKE CITYCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84107ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2023-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN461680937EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1MAG FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlMAGFBusinessNameControlTxt
Phone8018788100PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11354 E STRATFORD AVENUEAddressLine1Txt
CitySALT LAKE CITYCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84106ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMATTHEW GREENEPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8018788100PhoneNum
Signature2024-11-15SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRYAN C REES CPAPreparerPersonNm
PTINP01031363PTIN
Phone8019042070PhoneNum
Preparation2024-11-15PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2024-10-15 13:58:12ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Name ChangeYes (X)NameChangeInd
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$479,968FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Dividends Rev And Expnss$15,692DividendsRevAndExpnssAmt
Dividends Net Invst Incm$15,692DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$768NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$52,282GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Gross Profit Rev And Expnss$0GrossProfitRevAndExpnssAmt
Other Income Rev And Expnss$0OtherIncomeRevAndExpnssAmt
Total Rev And Expnss$16,460TotalRevAndExpnssAmt
Total Net Invst Incm$15,692TotalNetInvstIncmAmt
Legal Fees Rev And Expnss$0LegalFeesRevAndExpnssAmt
Accounting Fees Rev And Expnss$0AccountingFeesRevAndExpnssAmt
Other Prof Fees Rev And Expnss$5,841OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$5,841OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$434TaxesRevAndExpnssAmt
Taxes Net Invst Incm$241TaxesNetInvstIncmAmt
Deprec And Dpltn Rev And Expnss$0DeprecAndDpltnRevAndExpnssAmt
Other Expenses Rev And Expnss$50OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$50OtherExpensesNetInvstIncmAmt
Tot Opr Expenses Rev And Expnss$6,325TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$6,132TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$418,230ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$418,230ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$424,555TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$6,132TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$418,230TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$408,095ExcessRevenueOverExpensesAmt
Net Investment Income$9,560NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$35,489CashBOYAmt
Cash EOY$29,293CashEOYAmt
Cash EOYFMV$29,293CashEOYFMVAmt
Rcvbl From Officers EOY$0RcvblFromOfficersEOYAmt
Other Nts And Loans Rcvbl EOY$0OtherNtsAndLoansRcvblEOYAmt
Corporate Bonds BOY$173,748CorporateBondsBOYAmt
Corporate Bonds EOY$78,211CorporateBondsEOYAmt
Corporate Bonds EOYFMV$70,068CorporateBondsEOYFMVAmt
Land Bldg Investments EOY$0LandBldgInvestmentsEOYAmt
Other Investments BOY$616,005OtherInvestmentsBOYAmt
Other Investments EOY$309,643OtherInvestmentsEOYAmt
Other Investments EOYFMV$380,607OtherInvestmentsEOYFMVAmt
Land EOY$0LandEOYAmt
Other Assets BOY$0OtherAssetsBOYAmt
Other Assets EOY$0OtherAssetsEOYAmt
Other Assets EOYFMV$0OtherAssetsEOYFMVAmt
Total Assets BOY$825,242TotalAssetsBOYAmt
Total Assets EOY$417,147TotalAssetsEOYAmt
Total Assets EOYFMV$479,968TotalAssetsEOYFMVAmt
Loans From Officers EOY$0LoansFromOfficersEOYAmt
Mortgages And Notes Payable EOY$0MortgagesAndNotesPayableEOYAmt
Other Liabilities BOY$0OtherLiabilitiesBOYAmt
Other Liabilities EOY$0OtherLiabilitiesEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$825,242CapitalStockBOYAmt
Capital Stock EOY$417,147CapitalStockEOYAmt
Tot Net Ast Or Fund Balances BOY$825,242TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$417,147TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$825,242TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$417,147TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$825,242TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$408,095ExcessRevenueOverExpensesAmt
Subtotal$417,147SubtotalAmt
Tot Net Ast Or Fund Balances EOY$417,147TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$133InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$133SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$133TaxBasedOnInvestmentIncomeAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Total Payments And Credits$0TotalPaymentsAndCreditsAmt
Original Return Tax Paid$0OriginalReturnTaxPaidAmt
Tax Due$133TaxDueAmt
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 StateUTOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
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 Line1HARTLE & REES LLCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8019042070PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1448 E WINCHESTER ST STE 400AddressLine1Txt
CitySALT LAKE CITYCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84107ZIPCd
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
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Undistr Incm Sect4942a2 Not AppfalseUndistrIncmSect4942a2NotAppInd
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

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonMATTHEW AARON GREENEPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line13214 N UNIVERSITY AVE STE 606AddressLine1Txt
CityPROVOCityNm
State AbbreviationUTStateAbbreviationCd
ZIP84604ZIPCd
FieldValueIRS element (for citing)
TitlePRESIDENTTitleTxt
Average Hrs Per Wk Devoted To Pos5.00AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Other Employee Paid Over50k0OtherEmployeePaidOver50kCnt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt
Contractor Paid Over50k0ContractorPaidOver50kCnt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1EXPENSES/DONATIONS MADE TO THE CAMBODIAN CHILDRENS FUND SPONSORED CHILDRENS EDUCATION FROM IMPOVERISHED COMMUNITIES. THE FUND ALSO PROVIDES FAMILY SUPPORT AND COMMUNITY DEVELOPMENT PROGRAMS.Description1Txt
Expenses1$13,200Expenses1Amt
Description2DONATIONS MADE TO THE UNIVERSITY IMPACT FOUNDATION TO SUPPORT IT IN ITS CHARITABLE PURPOSES.Description2Txt
Expenses2$405,030Expenses2Amt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$649,015AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$32,391AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$681,406TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$681,406AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$10,221CashDeemedCharitableAmt
Net Vl Noncharitable Assets$671,185NetVlNoncharitableAssetsAmt
Minimum Investment Return$33,559MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$33,559MinimumInvestmentReturnAmt
Tax Based On Investment Income$133TaxBasedOnInvestmentIncomeAmt
Total Tax$133TotalTaxAmt
Distributable Before Adj$33,426DistributableBeforeAdjAmt
Distributable Before Ded$33,426DistributableBeforeDedAmt
Distributable As Adjusted$33,426DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$418,230ExpensesAndContributionsAmt
Qualifying Distributions$418,230QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$33,426DistributableAsAdjustedAmt
Undistributed Income PY$39,063UndistributedIncomePYAmt
Excess Distribution Cyov Yr5$39,408ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$64,795ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$0ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$0ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$0ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$104,203TotalExcessDistributionCyovAmt
Qualifying Distributions$418,230QualifyingDistributionsAmt
Applied To Year1$39,063AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$33,426AppliedToCurrentYearAmt
Remaining Distri From Corpus$345,741RemainingDistriFromCorpusAmt
Total Corpus$449,944TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$39,408ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$410,536ExcessDistriCyovToNextYrAmt
Excess From Year4$64,795ExcessFromYear4Amt
Excess From Year3$0ExcessFromYear3Amt
Excess From Year2$0ExcessFromYear2Amt
Excess From Year1$0ExcessFromYear1Amt
Excess From Current Year$345,741ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerMATTHEW AARON GREENEContributingManagerNm
Shareholder ManagerMATTHEW AARON GREENEShareholderManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (2 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
CAMBODIAN CHILDREN'S FUND
2461 SANTA MONICA BLVD PMB 833SANTA MONICACA90404PCSPONSOR CHILDRENSEDUCATION IN CAMBODIA$13,200
UNIVERSITY IMPACT FOUNDATION
3507 N UNIVERSITY AVE STE 125PROVOUT84604PFSUPPORT FOUNDATIONSCHARITABLE PURPOSES$405,030
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$418,230TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$15,692ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$767RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$15,692ExclusionAmt
Related Or Exempt Function Incm$767RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$16,459TotalIncomeProducingActyAmt

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

Rln Of Acty To Accom Of Exmpt Prps RlnOfActyToAccomOfExmptPrpsGrp

FieldValueIRS element (for citing)
Line Number8LineNumberTxt
Relationship StatementLONG-TERM CAPITAL GAIN DISTRIBUTIONS FROM INVESTMENTS.RelationshipStatementTxt

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

Gain Loss Sale Other Assets Sch GainLossSaleOtherAssetsSch

Gain Loss Sale Other Asset GainLossSaleOtherAssetGrp (3 entries)

AssetAssetDescSoldSoldDtGross Sales PriceGrossSalesPriceAmtTotal NetTotalNetAmtAcquiredAcquiredDtHow AcquiredHowAcquiredTxtBasisBasisAmt
DFA REAL ESTATE SEC PRTF INSTL2023-12$208$208
BLACKSTONE REAL ESTATE INCOME TRUST2023-03$334$334
PGPE PRIVATE EQUITY - CL I2023-10$51,740$2262022-05Purchased$51,514

General Explanation Attachment GeneralExplanationAttachment

General Explanation GeneralExplanationGrp

FieldValueIRS element (for citing)
Form And Line ReferenceEXPLANATION TO PART VII-A, LINE 8bFormAndLineReferenceDesc
Medium ExplanationTHE ATTORNEY GENERAL OF THE STATE OF UTAH SHALL BE FURNISHED A COPY OF THETHE ATTORNEY GENERAL OF THE STATE OF UTAH SHALL BE FURNISHED A COPY OF THETHE ATTORNEY GENERAL OF THE STATE OF UTAH SHALL BE FURNISHED A COPY OF THEMediumExplanationTxt

Investments Other Schedule2 InvestmentsOtherSchedule2

Investments Other InvestmentsOtherGrp (4 entries)

Category Or ItemCategoryOrItemTxtBook ValueBookValueAmtEOYFMVEOYFMVAmt
FIDELITY INVESTMENTS 5857 STOCK FUNDS$210,842$283,396
PARTNERS GROUP PRIVATE EQUITY$0$0
BLACKSTONE REAL ESTATE INCOME$48,801$48,240
BLACKSTONE PRIVATE CREDIT FUND$50,000$48,971

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescBANK CHARGESDesc
Revenue And Expenses Per Books$50RevenueAndExpensesPerBooksAmt
Net Investment Income$50NetInvestmentIncomeAmt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail

FieldValueIRS element (for citing)
CategoryFIDELITY FINANCIALCategoryTxt
Amt$5,841Amt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmt
FOREIGN TAX PAID$241$241
FEDERAL TAXES$193$0

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