Maharishi Global Development Fund
- Assets
- $0.0
- Revenue
- -$18.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Fairfield, IA
- Founding
- Data as of
- 12/2016
- EIN
- 52-2052522
Organization Overview
Maharishi Global Development Fund is located in Fairfield, IA. As of 12/2016, Maharishi Global Development Fund employed 3 individuals. Maharishi Global Development Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
SEE PAGE 2
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATEST PORTION OF THE FUNDS DAILY FOCUS IS ON THE PRESERVATION OF ITS RESOURCES FOR FUTURE EDUCATIONAL GRANTS AND PROGRAMS. WELL OVER 97% OF THE FUNDS RESOURCES ARE TIED UP IN REAL PROPERTY, THE VALUE OF WHICH HAS SERIOUSLY DECLINED DUE TO ECONOMIC CONDITIONS IN THE U.S. AND THE WORLD AT LARGE. THEREFORE THE MAJORITY OF OUR EFFORTS AND EXPENSES ARE IN MAINTAINING THE DIMINISHING VALUE OF OUR PROPERTIES VIA PROPERTY TAX PAYMENTS, REPAIR AND MAINTENANCE, DEBT SERVICE, SECURITY SERVICES, AS WE MAKE AN EFFORT TO SELL THE ONES THAT ARE MARKETABLE.
THE MAHARISHI GLOBAL DEVELOPMENT FUND (MGDF) BOARD OF DIRECTORS, AFTER DUE DELIBERATION, DECIDED TO CLOSE THE ENTITY IN 2016 AND TRANSFER ALL ASSETS AND LIABILITIES TO BRAHMANANDA SARASWATI FOUNDATION (BSF), A U.S. BASED 501(C)(3) CORPORATION WITH SIMILAR GOALS AND PROGRAMS THAT ARE CLOSELY ALIGNED TO MGDFS OWN CORPORATE PURPOSES. ALL ASSETS AND LIABILITIES WERE DISBURSED TO BSF BY YEAR-END. THE DISTRIBUTION IS THE NET VALUE OF ALL MGDF'S ASSETS AND LIABILITIES WHICH BSF AGREED TO RECEIVE AND TO USE ACCORDINGLY BASED ON SIMILAR GOALS AND PROGRAMS. THE GOALS IN PRINCIPLE ARE TO MAKE THE SCIENTIFICALLY BASED, EDUCATIONAL PROGRAMS OF TRANSCENDENTAL MEDITATION, AVAILABLE TO PEOPLE IN EVERY COUNTRY AROUND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Del La Rosa Director/treasurer | OfficerTrustee | 35 | $60,000 |
Richard Quinn Director | Trustee | 35 | $23,775 |
Linda Hartnett Director/secretary | OfficerTrustee | 3 | $0 |
Harris Kaplan President/director | OfficerTrustee | 8 | $0 |
Dr Paul Potter Director | Trustee | 2 | $0 |
Dr Christopher Hartnett Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | -$19,067,263 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $100,826 |
| Net Rental Income | $443,331 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$18,472,259 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $101,458 |
| Compensation of current officers, directors, key employees. | $30,437 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,761 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $145,705 |
| Fees for services: Accounting | $47,367 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,587 |
| Advertising and promotion | $428 |
| Office expenses | $2,467 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,786 |
| Travel | $1,737 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,587 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,710 |
| All other expenses | $0 |
| Total functional expenses | $58,769,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $0 |
Grants Awarded
Over the last fiscal year, Maharishi Global Development Fund has awarded $2,682,735 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Fairfield, IA PURPOSE: EDUCATIONAL SUPPORT | $2,420,000 |
Maharishi Vedic City, IA PURPOSE: EDUCATIONAL SUPPORT | $262,735 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Dental Association Chicago, IL | $257,052,700 | $138,597,450 |
Seiu Local 1 & Participating Employers Health Trust Chicago, IL | $156,543,336 | $132,715,763 |
St Marys Hospital Ozaukee Inc St Louis, MO | $0 | $119,639,290 |
American College Of Surgeons Chicago, IL | $595,958,812 | $134,561,979 |
Ascension Medical Group Promed St Louis, MO | $11,680,037 | $91,054,014 |
Campbellsville University Inc Campbellsville, KY | $197,242,279 | $142,326,474 |
Aspirus Medical Group Inc Wausau, WI | $76,960,726 | $101,291,684 |
Longmont United Hospital Longmont, CO | $214,203,834 | $134,718,375 |
Harding University Searcy, AR | $405,616,863 | $135,462,423 |
Wellmont Medical Associates Inc Johnson City, TN | $20,115,154 | $123,355,433 |
Leconte Medical Center Knoxville, TN | $91,240,969 | $144,185,798 |
Rosalind Franklin University Of Medicine & Science North Chicago, IL | $321,942,163 | $130,066,998 |