MRC FULL CIRCLE FOUNDATION: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
MRC FULL CIRCLE FOUNDATION (EIN 86-2444181)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-03-18
IRS object ID
202510779349100616
Schema version
2024v5.0
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)
Return2025-03-18T12:53:22-07:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

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 Begin2024-01-01TaxPeriodBeginDt

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 101 Park Ave 3100AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10178ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonMichael R CranePersonNm
Person TitlePresidentPersonTitleTxt
Signature2025-03-18SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRobert N WilesPreparerPersonNm
PTINP00362763PTIN
Phone5406878884PhoneNum
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$12,936,355FMVAssetsEOYAmt
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$28,030InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$28,030InterestOnSavNetInvstIncmAmt
Dividends Rev And Expnss$185,464DividendsRevAndExpnssAmt
Dividends Net Invst Incm$185,464DividendsNetInvstIncmAmt
Net Gain Sale Ast Rev And Expnss$804,412NetGainSaleAstRevAndExpnssAmt
Gross Sales Price$1,870,986GrossSalesPriceAmt
Cap Gain Net Incm Net Invst Incm$804,412CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$1,017,906TotalRevAndExpnssAmt
Total Net Invst Incm$1,017,906TotalNetInvstIncmAmt
Accounting Fees Rev And Expnss$3,200AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$3,200AccountingFeesNetInvstIncmAmt
Other Prof Fees Rev And Expnss$97,953OtherProfFeesRevAndExpnssAmt
Other Prof Fees Net Invst Incm$97,953OtherProfFeesNetInvstIncmAmt
Taxes Rev And Expnss$36,918TaxesRevAndExpnssAmt
Tot Opr Expenses Rev And Expnss$138,071TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$101,153TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$0TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$778,084ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$778,084ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$916,155TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$101,153TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$778,084TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$101,751ExcessRevenueOverExpensesAmt
Net Investment Income$916,753NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$4,560,389SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$163,243SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$163,243SavAndTempCashInvstEOYFMVAmt
US Government Obligations BOY$100,889USGovernmentObligationsBOYAmt
Corporate Stock BOY$2,868,066CorporateStockBOYAmt
Corporate Stock EOY$7,472,731CorporateStockEOYAmt
Corporate Stock EOYFMV$12,773,112CorporateStockEOYFMVAmt
Total Assets BOY$7,529,344TotalAssetsBOYAmt
Total Assets EOY$7,635,974TotalAssetsEOYAmt
Total Assets EOYFMV$12,936,355TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$7,529,344RetainedEarningBOYAmt
Retained Earning EOY$7,635,974RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$7,529,344TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$7,635,974TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$7,529,344TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$7,635,974TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$7,529,344TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$101,751ExcessRevenueOverExpensesAmt
Other Increases$4,879OtherIncreasesAmt
Subtotal$7,635,974SubtotalAmt
Tot Net Ast Or Fund Balances EOY$7,635,974TotNetAstOrFundBalancesEOYAmt

Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail

Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (11 entries)

PropertyPropertyDescHow AcquiredHowAcquiredCdAcquiredAcquiredDtSoldSoldDtGross Sales PriceGrossSalesPriceAmtCost Or Other BasisCostOrOtherBasisAmtGain Or LossGainOrLossAmtGains Minus Excess Or LossesGainsMinusExcessOrLossesAmt
2030 MERCK & CO INC (NEW)P2023-12-142024-12-17$203,902$215,195-$11,293-$11,293
596 CARLISLE COMPANIES INC COMP2003-05-302024-12-16$249,039$7,470$241,569$241,569
600 MERCK & CO INC (NEW)P2023-12-142024-10-25$62,920$63,605-$685-$685
260 ZOETIS INC COMP2024-06-272024-10-25$47,060$46,571$489$489
425 SYNOPSYS INC COMP2024-03-262024-10-24$210,786$251,493-$40,707-$40,707
556 CARLISLE COMPANIES INC COMP2003-05-302024-06-11$225,885$6,968$218,917$218,917
2060 MARVELL TECHNOLOGY INCP2023-12-142024-06-11$145,129$131,014$14,115$14,115
4410 XCEL ENERGY INC COMP2023-12-142024-03-26$227,567$279,771-$52,204-$52,204
750 CARLISLE COMPANIES INC COMP2003-05-302024-02-08$255,210$9,400$245,810$245,810
1170 DOVER CORP COMP2023-05-302024-02-08$186,452$19,542$166,910$166,910
115 SYNOPSYS INC COMP2022-10-072024-10-24$57,036$35,545$21,491$21,491
FieldValueIRS element (for citing)
Capital Gain Net Income$804,412CapitalGainNetIncomeAmt
Net Short Term Capital Gain Loss$87,918NetShortTermCapitalGainLossAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$12,743InvestmentIncomeExciseTaxAmt
Subtotal$12,743SubtotalAmt
Tax Based On Investment Income$12,743TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$20,000EstimatedPlusOvpmtIncmTxAmt
Total Payments And Credits$20,000TotalPaymentsAndCreditsAmt
Form2220 AttachedYes (X)Form2220AttachedInd
Overpayment$7,257OverpaymentAmt
Applied To ES Tax$7,257AppliedToESTaxAmt

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 Line1CorientBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2122072100PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1101 Park Ave Suite 3100AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10178ZIPCd
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 Line1101 Park Avenue Suite 3100AddressLine1Txt
CityNew YorkCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10178ZIPCd
FieldValueIRS element (for citing)
Service TypeAsset ManagementServiceTypeTxt
Compensation$90,524CompensationAmt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$11,907,990AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,069,916AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$12,977,906TotalFMVOfUnusedAssetsAmt
Reduction Claimed$0ReductionClaimedAmt
Adjusted Total FMV Of Unused Ast$12,977,906AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$194,669CashDeemedCharitableAmt
Net Vl Noncharitable Assets$12,783,237NetVlNoncharitableAssetsAmt
Minimum Investment Return$639,162MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$639,162MinimumInvestmentReturnAmt
Tax Based On Investment Income$12,743TaxBasedOnInvestmentIncomeAmt
Total Tax$12,743TotalTaxAmt
Distributable Before Adj$626,419DistributableBeforeAdjAmt
Distributable Before Ded$626,419DistributableBeforeDedAmt
Distributable As Adjusted$626,419DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$778,084ExpensesAndContributionsAmt
Qualifying Distributions$778,084QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$626,419DistributableAsAdjustedAmt
Undistributed Income PY$226,677UndistributedIncomePYAmt
Qualifying Distributions$778,084QualifyingDistributionsAmt
Applied To Year1$226,677AppliedToYear1Amt
Treated As Distri From Corpus$0TreatedAsDistriFromCorpusAmt
Applied To Current Year$551,407AppliedToCurrentYearAmt
Undistributed Income CY$75,012UndistributedIncomeCYAmt

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$778,084Amt
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$778,084TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$28,030ExclusionAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$185,464ExclusionAmt

Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp

FieldValueIRS element (for citing)
Exclusion18ExclusionCd
Exclusion$804,412ExclusionAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$1,017,906ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,017,906TotalIncomeProducingActyAmt

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)
CategoryAccounting FeesCategoryTxt
Amt$3,200Amt
Net Investment Income$3,200NetInvestmentIncomeAmt
Adjusted Net Income$0AdjustedNetIncomeAmt
Disbursements Charitable Prps$0DisbursementsCharitablePrpsAmt

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescCash Transferred from BC Family Foundation, IncDesc
Amt$4,879Amt

Other Professional Fees Schedule OtherProfessionalFeesSchedule

Other Professional Fees Detail OtherProfessionalFeesDetail (2 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
Custody fees$7,429$7,429$0$0
Management Fees$90,524$90,524$0$0

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail (3 entries)

CategoryCategoryTxtAmtAmt
Corporate Registration Fees$304
Federal Excise Taxes - Form 990PF$36,501
Federal Excise Taxes - P&I$113

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