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← MEADOWS NEW FOUNDATION INC

Form 990 for tax year 2022

Filed by MEADOWS NEW FOUNDATION INC.

Totals

Total revenue
$636,169
Total expenses
$79,132
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$631,123
Other revenue
$5,046
Total assets, end of year
$27,379,633
Total liabilities, end of year
$2,026
Net assets or fund balances, end of year
$27,377,607
Program services expenses (Part IX)
$0
Management and general expenses
$79,132
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $692,466 · excluded $692,466

  • 7b · Less cost or other basis and sales expenses

    securities $61,343

  • 7c · Gain or loss

    securities -$61,343

  • 7d · Net gain or loss

    total -$61,343 · related or exempt -$61,343

  • 11a · Other revenue: PENALTY REFUND

    total $5,046 · related or exempt $5,046

  • 11e · Other revenue, total

    $5,046

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $11,993 · management and general $11,993

  • 11b · Fees: legal

    total $4,888 · management and general $4,888

  • 13 · Office expenses

    total $1,130 · management and general $1,130

  • 16 · Occupancy

    total $35,199 · management and general $35,199

  • 19 · Conferences, conventions and meetings

    total $764 · management and general $764

  • 22 · Depreciation, depletion and amortization

    total $15,776 · management and general $15,776

  • 23 · Insurance

    total $9,382 · management and general $9,382

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $38,317 · end of year $1,145,963

  • 10a · Land, buildings and equipment: cost or other basis

    $1,759,376

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,776

  • 10c · Land, buildings and equipment, net

    beginning of year $1,756,414 · end of year $1,743,600

  • 11 · Investments: publicly traded securities

    beginning of year $26,533,442 · end of year $24,490,070

  • 17 · Accounts payable and accrued expenses

    beginning of year $970 · end of year $2,026

  • 27 · Net assets without donor restrictions

    beginning of year $28,327,203 · end of year $27,377,607

Mission and programs · 2022

Mission

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 NET 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 SALE TOOK PLACE ON APRIL 30, 2021. THE PROCEEDS 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 G

  • 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).

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MICHAEL CALHOUN

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • DENNIS INGLEY

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • POLLYANN MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • REID MCARTHUR

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • ANTHONY MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • RONNIE STERWART

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • TIM TRUXEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
20 October 2023
IRS schema version
2022v5.0
Source object
202303059349302765

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