Michael Jones Foundation

Tabor City, NC
Tax-exempt since March 2005
EIN: 20-1997491

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$592k (2024)

Expenses

$74.8k (2024)

Total Assets

$1.89M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$592,114

Expenses

$74,766

Net Income

$517,348

Net Assets

$1,893,576

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$550,000	92.9%
Interest Revenue	$44,160	7.5%
Dividends	$4,504	0.8%
Sales of Assets	-$6,550
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$72,350	96.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,893,576
Total Liabilities	$0
Net Assets	$1,893,576

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 5, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$114,935

Expenses

$61,292

Net Income

$53,643

Net Assets

$1,376,228

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$105,000	91.4%
Interest Revenue	$30,871	26.9%
Dividends	$6,897	6.0%
Sales of Assets	-$28,183
Other Income	$350	0.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$57,640	94.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,376,228
Total Liabilities	$0
Net Assets	$1,376,228

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on April 30, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$439,222

Expenses

$45,855

Net Income

$393,367

Net Assets

$1,322,585

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$300,000	68.3%
Interest Revenue	$211	0.0%
Dividends	$11,592	2.6%
Sales of Assets	$127,419	29.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$42,100	91.8%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,322,585
Total Liabilities	$0
Net Assets	$1,322,585

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 2, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$207,274

Expenses

$39,181

Net Income

$168,093

Net Assets

$929,218

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$200,000	96.5%
Interest Revenue	$0
Dividends	$11,391	5.5%
Sales of Assets	-$4,117
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$33,879	86.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$929,218
Total Liabilities	$0
Net Assets	$929,218

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on March 24, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$285,367

Expenses

$28,473

Net Income

$256,894

Net Assets

$761,124

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$100,000	35.0%
Interest Revenue	$309	0.1%
Dividends	$8,227	2.9%
Sales of Assets	$176,831	62.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$26,590	93.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$761,125
Total Liabilities	$1
Net Assets	$761,124

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on April 15, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$141,607

Expenses

$24,329

Net Income

$117,278

Net Assets

$504,230

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$100,000	70.6%
Interest Revenue	$326	0.2%
Dividends	$8,048	5.7%
Sales of Assets	$32,982	23.3%
Other Income	$251	0.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$22,654	93.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$504,231
Total Liabilities	$1
Net Assets	$504,230

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 7, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$88,348

Expenses

$23,485

Net Income

$64,863

Net Assets

$386,953

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$50,000	56.6%
Interest Revenue	$75	0.1%
Dividends	$7,443	8.4%
Sales of Assets	$30,830	34.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$21,207	90.3%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$386,953
Total Liabilities	$0
Net Assets	$386,953

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 14, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$40,606

Expenses

$18,841

Net Income

$21,765

Net Assets

$322,090

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$65	0.2%
Dividends	$6,038	14.9%
Sales of Assets	$34,503	85.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$18,001	95.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$322,090
Total Liabilities	$0
Net Assets	$322,090

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on April 5, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$20,318

Expenses

$19,726

Net Income

$592

Net Assets

$300,325

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20	0.1%
Dividends	$7,603	37.4%
Sales of Assets	$12,168	59.9%
Other Income	$527	2.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,500	88.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$300,325
Total Liabilities	$0
Net Assets	$300,325

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 11, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$30,524

Expenses

$17,136

Net Income

$13,388

Net Assets

$300,818

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$22	0.1%
Dividends	$5,942	19.5%
Sales of Assets	$24,560	80.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$16,214	94.6%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$300,818
Total Liabilities	$0
Net Assets	$300,818

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on March 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$12,003

Expenses

$16,592

Net Income

-$4,589

Net Assets

$287,430

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$30	0.2%
Dividends	$4,378	36.5%
Sales of Assets	$7,595	63.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,671	94.4%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$287,430
Total Liabilities	$0
Net Assets	$287,430

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 6, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$11,827

Expenses

$14,859

Net Income

-$3,032

Net Assets

$292,019

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$85	0.7%
Dividends	$2,795	23.6%
Sales of Assets	$8,947	75.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,078	94.7%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$292,019
Total Liabilities	$0
Net Assets	$292,019

Compensation

Key Employees and Officers	Compensation	Other
Michael K Jones (Chairman, Treasurer)	$0	$0
Carolyn N Jones (Vice Chairman, Secretary)	$0	$0

990-PF

Filed on May 9, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$30,663

Expenses

$15,100

Net Income

$15,563

Net Assets

$295,050

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$191	0.6%
Dividends	$3,622	11.8%
Sales of Assets	$26,850	87.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$14,200	94.0%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$295,051
Total Liabilities	$1
Net Assets	$295,050

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$4,869

Expenses

$15,615

Net Income

-$10,746

Net Assets

$279,487

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$237	4.9%
Dividends	$1,966	40.4%
Sales of Assets	$2,666	54.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,000	96.1%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$279,488
Total Liabilities	$1
Net Assets	$279,487

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Michael Jones Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $592k (2024)

Expenses $74.8k (2024)

Total Assets $1.89M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$592k (2024)

Expenses

$74.8k (2024)

Total Assets

$1.89M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004