Meadows New Foundation Inc
- Assets
- $28.3m
- Revenue
- $462.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Vidalia, GA
- Founding
- Data as of
- 12/2021
- EIN
- 86-1975495
Organization Overview
Meadows New Foundation Inc is located in Vidalia, GA. Meadows New Foundation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MEADOWS NEW FOUNDATION, INC. (FOUNDATION) IS A GEORGIA NONPROFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY FOR THE PROMOTION OF SOCIAL WELFARE WITHIN THE MEANING OF SECTION 50L(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE) AND CONSISTENT WITH THE CHARITABLE PURPOSES OF CODE SECTION 501(C)(3), OR THE CORRESPONDING PROVISIONS OF ANY FUTURE FEDERAL TAX CODE. THE FOUNDATION RECEIVED SUBSTANTIALLY ALL OF THE SALES PROCEEDS FROM THE SALE OF THE ASSETS OF MEADOWS REGIONAL MEDICAL CENTER, INC. TO VIDALIA HEALTH SERVICE, LLC, AN AFFILIATE OF HCA HEALTHCARE AS A GRANT FROM THE SELLER. THE FUNDS ARE TO BE ADMINISTERED BY THE FOUNDATION PURSUANT TO A GRANT AGREEMENT REVIEWED AND APPROVED BY THE INTERNAL REVENUE SERVICE AND THE STATE OF GEORGIA'A ATTORNEY GENERAL OFFICE. DISTRIBUTION OF FUNDS WILL BE MADE TO OTHER NONPROFIT ORGANIZATION WHICH ARE TAX EXEMPT UNDER CODE SECTION 501(C)(3), IN ORDER TO FURTHER THE COMMON GOOD AND GENERAL WELFARE OF THE COMMUNITY, INCLUDING PROM
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEADOWS NEW FOUNDATION, INC. (FOUNDATION) IS A GEORGIA NONPROFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY FOR THE PROMOTION OF SOCIAL WELFARE WITHIN THE MEANING OF SECTION 50L(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE) AND CONSISTENT WITH THE CHARITABLE PURPOSES OF CODE SECTION 501(C)(3), OR THE CORRESPONDING PROVISIONS OF ANY FUTURE FEDERAL TAX CODE. DISTRIBUTION OF FUNDS WILL BE MADE TO OTHER NONPROFIT ORGANIZATION WHICH ARE TAX EXEMPT UNDER CODE SECTION 501(C)(3), IN ORDER TO FURTHER THE COMMON GOOD AND GENERAL WELFARE OF THE COMMUNITY, INCLUDING PROMOTING HEALTH AND WELLNESS AND ACCESS TO HEALTHCARE IN THE COMMUNITY (THE SOCIAL WELFARE PURPOSES).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Ingley Treasurer | OfficerTrustee | 2 | $0 |
Michael Calhoun Chair | OfficerTrustee | 2 | $0 |
Reid Mcarthur Secretary | OfficerTrustee | 2 | $0 |
Pollyann Martin Director | Trustee | 2 | $0 |
Anthony Miller Director | Trustee | 2 | $0 |
Ronnie Sterwart 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 | $169,414 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $293,147 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $462,561 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,607 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $746 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,935 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,046 |
| Total functional expenses | $21,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,315 |
| Savings and temporary cash investments | $2 |
| 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 | $1,756,414 |
| Investments—publicly traded securities | $26,533,442 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,328,173 |
| Accounts payable and accrued expenses | $970 |
| 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 | $970 |
| Net assets without donor restrictions | $28,327,203 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $28,328,173 |
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