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MGM FOUNDATION, INC.

Company Details

Entity Name: MGM FOUNDATION, INC.
Jurisdiction: Illinois
Entity Type: Corporation - Not-for-Profit
Status: Goodstanding
Date Formed: 16 Mar 2015
Company Number: CORP_69947174
File Number: 69947174
Type of Business: Charitable or benevolent
Place of Formation: ILLINOIS

Agent

Name and Address Role Appointment Date
MARION G MORRIS, 7655 S BENNETT, CHICAGO, 60649, COOK-NOT IN CITY OF CHICAGO Agent 2015-03-16

Tax Exempt

EIN Type of Organization Exempt Organization Status Address Ruling Date
47-3084807 Corporation Unconditional Exemption 8653 S CALUMET AVE, CHICAGO, IL, 60619-6027 2022-08
In Care of Name -
Group Exemption Number 0000
Subsection Charitable Organization, Educational Organization, Literary Organization, Organization to Prevent Cruelty to Animals, Organization to Prevent Cruelty to Children, Organization for Public Safety Testing, Religious Organization, Scientific Organization
Affiliation Independent - This code is used if the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Classification Government Instrumentality, Title-Holding Corporation, Charitable Organization, Agricultural Organization, Board of Trade, Pleasure, Recreational, or Social Club, Fraternal Beneficiary Society, Order or Association, Voluntary Employees' Beneficiary Association (Non-Govt. Emps.), Domestic Fraternal Societies and Associations, Teachers Retirement Fund Assoc., Benevolent Life Insurance Assoc., Burial Association, Credit Union, Mutual Insurance Company or Assoc. Other Than Life or Marine, Corp. Financing Crop Operations, Supplemental Unemployment Compensation Trust or Plan, Employee Funded Pension Trust (Created Before 6/25/59), Post or Organization of War Veterans, Legal Service Organization, Black Lung Trust, Multiemployer Pension Plan, Veterans Assoc. Formed Prior to 1880, Trust Described in Sect. 4049 of ERISA, Title Holding Co. for Pensions, etc., State-Sponsored High Risk Health Insurance Organizations, State-Sponsored Workers' Compensation Reinsurance, ACA 1322 Qualified Nonprofit Health Insurance Issuers, Apostolic and Religious Org. (501(d)), Cooperative Hospital Service Organization (501(e)), Cooperative Service Organization of Operating Educational Organization (501(f)), Child Care Organization (501(k)), Charitable Risk Pool, Qualified State-Sponsored Tuition Program, 4947(a)(1) - Private Foundation (Form 990PF Filer)
Deductibility Contributions are deductible.
Foundation Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes 509(a)(2)
Tax Period -
Asset 0
Income 0
Filing Requirement 990 - Required to file Form 990-N - Income less than $50,000 per year
PF Filing Requirement No 990-PF return
Accounting Period Dec
Asset Amount -
Income Amount -
Form 990 Revenue Amount -
National Taxonomy of Exempt Entities Human Services: Family Services for Adolescent Parents
Sort Name -

Publication 78 Data

Description Organizations eligible to receive tax-deductible charitable contributions. Users may rely on this list in determining deductibility of their contributions.
On Publication 78 Data List Yes
Deductibility Type of organization and use of contribution: A public charity. Deductibility Limitation: 50% (60% for cash contributions)

Determination Letter

Final Letter(s) FinalLetter_47-3084807_MGMFOUNDATIONINC_08172022_00.tif

Paycheck Protection Program

Loan Number Loan Funded Date SBA Origination Office Code Loan Delivery Method Borrower Street Address
4608948901 2021-04-29 0507 PPP 8124 S Essex Ave, Chicago, IL, 60617-1698
Loan Status Date 2022-04-19
Loan Status Paid in Full
Loan Maturity in Months 60
SBA Guaranty Percentage 100
Loan Approval Amount (at origination) 1667
Loan Approval Amount (current) 1667
Undisbursed Amount 0
Franchise Name -
Lender Location ID 188567
Servicing Lender Name Loan Source Incorporated
Servicing Lender Address 353 East 83rd Street Suite 3H, NEW YORK, NY, 10028
Rural or Urban Indicator U
Hubzone Y
LMI Y
Business Age Description Existing or more than 2 years old
Project Address Chicago, COOK, IL, 60617-1698
Project Congressional District IL-01
Number of Employees 1
NAICS code 813219
Borrower Race Black or African American
Borrower Ethnicity Not Hispanic or Latino
Business Type Corporation
Originating Lender ID 29599
Originating Lender Name Northeast Bank
Originating Lender Address LEWISTON, ME
Gender Female Owned
Veteran Non-Veteran
Forgiveness Amount 1680.7
Forgiveness Paid Date 2022-03-02

Date of last update: 13 Feb 2025

Sources: Illinois Office of the Secretary of State