NMI FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
NMI FOUNDATION (EIN 85-3583237)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-09-13
IRS object ID
202532569349100308
Schema version
2024v5.1
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)
Return2025-09-13T18:22:23-05:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN621199757PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1LBMC PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1605 CHESTNUT STREET SUITE 1100AddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37450ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN853583237EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NMI FOUNDATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlNMIFBusinessNameControlTxt
Phone4237858294PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1832 GEORGIA AVE STE 1200AddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37402ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonR KINCAID MILLSPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone4237858294PhoneNum
Signature2025-06-12SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJAMIE MURPHYPreparerPersonNm
PTINP02374555PTIN
Phone4237566585PhoneNum
Preparation2025-06-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$562,607FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$900,000ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$59,859InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$59,859InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$959,859TotalRevAndExpnssAmt
Total Net Invst Incm$59,859TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Comp Ofcr Dir Trst Net Invst Incm$0CompOfcrDirTrstNetInvstIncmAmt
Comp Ofcr Dir Trst Dsbrs Chrtbl$0CompOfcrDirTrstDsbrsChrtblAmt
Legal Fees Rev And Expnss$8,900LegalFeesRevAndExpnssAmt
Legal Fees Net Invst Incm$0LegalFeesNetInvstIncmAmt
Legal Fees Dsbrs Chrtbl$8,900LegalFeesDsbrsChrtblAmt
Taxes Rev And Expnss$6,000TaxesRevAndExpnssAmt
Taxes Net Invst Incm$0TaxesNetInvstIncmAmt
Taxes Dsbrs Chrtbl$0TaxesDsbrsChrtblAmt
Other Expenses Rev And Expnss$423OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$423OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$0OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$15,323TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$423TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$8,900TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$9,027,000ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$9,027,000ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$9,042,323TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$423TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$9,035,900TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$8,082,464ExcessRevenueOverExpensesAmt
Net Investment Income$59,436NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$3,645,071CashBOYAmt
Cash EOY$62,607CashEOYAmt
Cash EOYFMV$62,607CashEOYFMVAmt
Acct Rcvbl$500,000AcctRcvblAmt
Acct Rcvbl BOY$5,000,000AcctRcvblBOYAmt
Acct Rcvbl EOY$500,000AcctRcvblEOYAmt
Acct Rcvbl EOYFMV$500,000AcctRcvblEOYFMVAmt
Total Assets BOY$8,645,071TotalAssetsBOYAmt
Total Assets EOY$562,607TotalAssetsEOYAmt
Total Assets EOYFMV$562,607TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Capital Stock BOY$0CapitalStockBOYAmt
Capital Stock EOY$0CapitalStockEOYAmt
Additional Paid In Capital BOY$0AdditionalPaidInCapitalBOYAmt
Additional Paid In Capital EOY$0AdditionalPaidInCapitalEOYAmt
Retained Earning BOY$8,645,071RetainedEarningBOYAmt
Retained Earning EOY$562,607RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$8,645,071TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$562,607TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$8,645,071TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$562,607TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$8,645,071TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$8,082,464ExcessRevenueOverExpensesAmt
Other Increases$0OtherIncreasesAmt
Subtotal$562,607SubtotalAmt
Other Decreases$0OtherDecreasesAmt
Tot Net Ast Or Fund Balances EOY$562,607TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$826InvestmentIncomeExciseTaxAmt
Tax Under Section511$0TaxUnderSection511Amt
Subtotal$826SubtotalAmt
Subtitle A Tax$0SubtitleATaxAmt
Tax Based On Investment Income$826TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$3,263EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Extsn Request Income Tax Paid$0ExtsnRequestIncomeTaxPaidAmt
Backup Withholding Withheld$0BackupWithholdingWithheldAmt
Total Payments And Credits$3,263TotalPaymentsAndCreditsAmt
Es Penalty$0EsPenaltyAmt
Overpayment$2,437OverpaymentAmt
Applied To ES Tax$2,437AppliedToESTaxAmt
Refund$0RefundAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political Acty0LegislativePoliticalActyInd
More Than100 Spent0MoreThan100SpentInd
Form1120 POL Filed0Form1120POLFiledInd
Section4955 Organization Tax$0Section4955OrganizationTaxAmt
Section4955 Managers Tax$0Section4955ManagersTaxAmt
Tax Reimbursed$0TaxReimbursedAmt
Activities Not Previously Rpt0ActivitiesNotPreviouslyRptInd
Changes To Articles Or Bylaws0ChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Organization Dissolved Etc0OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (1)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (1)AtLeast5000InAssetsInd
Org Report Or Register StateTNOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (1)Form990PFFiledWithAttyGenInd
Private Operating Foundation0PrivateOperatingFoundationInd
New Substantial Contributors0NewSubstantialContributorsInd
Own Controlled Entity0OwnControlledEntityInd
Donor Advised Fund0DonorAdvisedFundInd
Comply With Public Insp RqrYes (1)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksDANNA S MCWILLIAMSIndividualWithBooksNm
Phone4236828788PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1735 BROAD SREET SUITE 200AddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37402ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts Question0ForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified Prsn0SaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified Prsn0BrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified Prsn0FurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified Prsn0PayCompDisqualifiedPrsnInd
Transfer Ast Disqualified Prsn0TransferAstDisqualifiedPrsnInd
Payment To Government Official0PaymentToGovernmentOfficialInd
Uncorrected Prior Acts0UncorrectedPriorActsInd
Undistributed Income PY0UndistributedIncomePYInd
Business Holdings0BusinessHoldingsInd
Jeopardy Investments0JeopardyInvestmentsInd
Uncorrected PY Jeopardy Invst0UncorrectedPYJeopardyInvstInd
Influence Legislation0InfluenceLegislationInd
Influence Election0InfluenceElectionInd
Grants To Individuals0GrantsToIndividualsInd
Grants To Organizations0GrantsToOrganizationsInd
Noncharitable Purpose0NoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd

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 PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmt
R KINCAID MILLS
735 BROAD STREET SUITE 200CHATTANOOGATN37402PRESIDENT AND TREASURER1.00$0$0$0
OLAN MILLS II
735 BROAD STREET SUITE 200CHATTANOOGATN37402SECRETARY0.50$0$0$0
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

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$0AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,508,696AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,508,696TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,508,696AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$22,630CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,486,066NetVlNoncharitableAssetsAmt
Minimum Investment Return$74,303MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$74,303MinimumInvestmentReturnAmt
Tax Based On Investment Income$826TaxBasedOnInvestmentIncomeAmt
Total Tax$826TotalTaxAmt
Distributable Before Adj$73,477DistributableBeforeAdjAmt
Recoveries Qualfied Distri$0RecoveriesQualfiedDistriAmt
Distributable Before Ded$73,477DistributableBeforeDedAmt
Deduction From Distributable$0DeductionFromDistributableAmt
Distributable As Adjusted$73,477DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$9,035,900ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Qualifying Distributions$9,035,900QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$73,477DistributableAsAdjustedAmt
Undistributed Income PY$0UndistributedIncomePYAmt
Total For Prior Years$0TotalForPriorYearsAmt
Excess Distribution Cyov Yr1$1,085,489ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$1,085,489TotalExcessDistributionCyovAmt
Qualifying Distributions$9,035,900QualifyingDistributionsAmt
Applied To Year1$0AppliedToYear1Amt
Applied To Prior Years$0AppliedToPriorYearsAmt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$73,477AppliedToCurrentYearAmt
Remaining Distri From Corpus$8,962,423RemainingDistriFromCorpusAmt
Excess Distri Cyov App CY Corpus$0ExcessDistriCyovAppCYCorpusAmt
Excess Distribution Cyov App CY$0ExcessDistributionCyovAppCYAmt
Total Corpus$10,047,912TotalCorpusAmt
Prior Year Undistributed Incm$0PriorYearUndistributedIncmAmt
Prior Year Deficiency Or Tax$0PriorYearDeficiencyOrTaxAmt
Taxable1$0Taxable1Amt
Taxable2$0Taxable2Amt
Undistributed Income CY$0UndistributedIncomeCYAmt
Corpus Distri170b1 E Or4942g3$0CorpusDistri170b1EOr4942g3Amt
Excess Distri Cyov From Yr5$0ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$10,047,912ExcessDistriCyovToNextYrAmt
Excess From Year1$1,085,489ExcessFromYear1Amt
Excess From Current Year$8,962,423ExcessFromCurrentYearAmt

Supplementary Information SupplementaryInformationGrp

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

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (3 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
GIRLS PREPARATORY SCHOOL
205 ISLAND AVENUECHATTANOOGATN37405PCESTABLISHMENT AND FUNDING OF THE SHARON MILLS SUSTAINABILITY FUND WHICH IS AIMED AT ENSURING THE GIRLS PREPARATORY SCHOOL ACHIEVES LONG TERM FINANCIAL AND ENVIRONMENTAL SUSTAINABILITY.$8,000,000
TIVOLI THEATRE FOUNDATION
709 BROAD STCHATTANOOGATN37402PCSUPPORTS THE CAPITAL RENOVATION CAMPAIGN PROVIDING THE FOLLOWING FOR PERMANENT ART (STEEL AND GLASS SCULPTURE) BEING INSTALLED DURING THE RENOVATION: OFF-SITE STORAGE (WHILE UNDER CONSTRUCTION), ENGINEERING AND ARCHITECTURE FEES, AND MATERIALS AND LABOR.$15,000
CHATTANOOGA AREA FOOD BANK
2009 CURTAIN POLE ROADCHATTANOOGATN37406PCSUPPORTS SOURCING AND PURCHASE OF FRESH VEGETABLES AND FRUITS, PROTEINS, DAIRY, AND SHELF STABLE FOODS; ADDING STAFFING AND PROFESSIONAL DEVELOPMENT; CAPITAL IMPROVEMENTS; PURCHASE OF REEFER TRUCK AND VAN; COMPUTER TECHNOLOGY.$1,012,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$9,027,000TotalGrantOrContriPdDurYrAmt
Total Grant Or Contri Apprv Fut$0TotalGrantOrContriApprvFutAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$59,859ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Unrelated Business Taxbl Incm$0UnrelatedBusinessTaxblIncmAmt
Exclusion$59,859ExclusionAmt
Related Or Exempt Function Incm$0RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$59,859TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EO0TrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EO0TrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of Assets0SalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EO0PurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth Assets0RentalOfFacilitiesOthAssetsInd
Reimbursement Arrangements0ReimbursementArrangementsInd
Loans Or Loan Guarantees0LoansOrLoanGuaranteesInd
Performance Of Services Etc0PerformanceOfServicesEtcInd
Sharing Of Facilities Etc0SharingOfFacilitiesEtcInd
Relationships Nonchrtbl EO0RelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
Contributor1ContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1SHARON MILLS 2008 REVOCABLE TRUSTBusinessNameLine1Txt

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1735 BROAD STREET SUITE 200AddressLine1Txt
CityCHATTANOOGACityNm
State AbbreviationTNStateAbbreviationCd
ZIP37402ZIPCd
FieldValueIRS element (for citing)
Total Contributions$900,000TotalContributionsAmt
Person ContributionYes (X)PersonContributionInd

Legal Fees Schedule LegalFeesSchedule

Legal Fees LegalFeesGrp (2 entries)

CategoryCategoryTxtLegal FeesLegalFeesAmtNet Investment IncomeNetInvestmentIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
LEGAL FEES$550$0$550
ACCOUNTING FEES$8,350$0$8,350

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp

FieldValueIRS element (for citing)
DescBANK FEESDesc
Revenue And Expenses Per Books$423RevenueAndExpensesPerBooksAmt
Net Investment Income$423NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
CategoryFEDERAL INCOME TAXCategoryTxt
Amt$6,000Amt
Net Investment Income$0NetInvestmentIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

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