M & J Foundation Inc

Raleigh, NC
Tax-exempt since May 1959
EIN: 56-6050267

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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.

Donations to this organization are tax deductible.

Revenue

$737k (2024)

Expenses

$445k (2024)

Total Assets

$6.41M (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

$737,110

Expenses

$444,970

Net Income

$292,140

Net Assets

$6,414,030

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,189	0.6%
Dividends	$173,594	23.6%
Sales of Assets	$419,910	57.0%
Other Income	$139,417	18.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$395,750	88.9%
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	$6,414,030
Total Liabilities	$0
Net Assets	$6,414,030

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Nov. 13, 2025

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

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Schedules ▼

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Fiscal Year Ending Dec.
2023

Revenue

$263,667

Expenses

$426,211

Net Income

-$162,544

Net Assets

$6,122,986

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$10	0.0%
Dividends	$176,341	66.9%
Sales of Assets	$50,346	19.1%
Other Income	$36,970	14.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$375,000	88.0%
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	$6,122,986
Total Liabilities	$0
Net Assets	$6,122,986

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Nov. 21, 2024

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2022

Revenue

$185,814

Expenses

$472,158

Net Income

-$286,344

Net Assets

$6,295,482

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2	0.0%
Dividends	$144,142	77.6%
Sales of Assets	-$45,812
Other Income	$87,482	47.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$424,500	89.9%
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	$6,295,482
Total Liabilities	$0
Net Assets	$6,295,482

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Nov. 14, 2023

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$824,118

Expenses

$486,526

Net Income

$337,592

Net Assets

$6,587,589

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$26	0.0%
Dividends	$142,703	17.3%
Sales of Assets	$445,668	54.1%
Other Income	$235,721	28.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$433,260	89.1%
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	$6,587,589
Total Liabilities	$0
Net Assets	$6,587,589

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Jan. 20, 2023

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2020

Revenue

$172,210

Expenses

$396,479

Net Income

-$224,269

Net Assets

$6,251,807

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$758	0.4%
Dividends	$133,796	77.7%
Sales of Assets	$32,290	18.8%
Other Income	$5,366	3.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$354,500	89.4%
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	$6,251,808
Total Liabilities	$1
Net Assets	$6,251,807

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Nov. 8, 2021

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$233,353

Expenses

$396,935

Net Income

-$163,582

Net Assets

$6,479,002

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$467	0.2%
Dividends	$172,178	73.8%
Sales of Assets	$54,351	23.3%
Other Income	$6,357	2.7%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$350,000	88.2%
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	$6,481,348
Total Liabilities	$2,346
Net Assets	$6,479,002

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Aug. 26, 2020

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

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$326,749

Expenses

$384,842

Net Income

-$58,093

Net Assets

$6,635,791

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$556	0.2%
Dividends	$162,413	49.7%
Sales of Assets	$157,902	48.3%
Other Income	$5,878	1.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$333,500	86.7%
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	$6,635,791
Total Liabilities	$0
Net Assets	$6,635,791

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Sept. 12, 2019

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$433,324

Expenses

$358,396

Net Income

$74,928

Net Assets

$6,702,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$384	0.1%
Dividends	$184,791	42.6%
Sales of Assets	$241,126	55.6%
Other Income	$7,023	1.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$315,500	88.0%
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	$6,702,858
Total Liabilities	$0
Net Assets	$6,702,858

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Sept. 6, 2018

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

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Schedules ▼

XML

Fiscal Year Ending Dec.
2016

Revenue

$54,219

Expenses

$271,695

Net Income

-$217,476

Net Assets

$6,747,343

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$340	0.6%
Dividends	$139,954	> 100%
Sales of Assets	-$93,816
Other Income	$7,741	14.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$229,750	84.6%
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	$6,747,343
Total Liabilities	$0
Net Assets	$6,747,343

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Oct. 11, 2017

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2015

Revenue

$266,021

Expenses

$390,967

Net Income

-$124,946

Net Assets

$6,966,602

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$241	0.1%
Dividends	$159,261	59.9%
Sales of Assets	$92,150	34.6%
Other Income	$14,369	5.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$344,000	88.0%
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	$6,966,602
Total Liabilities	$0
Net Assets	$6,966,602

Compensation

Key Employees and Officers	Compensation	Other
Marcellus J Best Jr (President)	$0	$0
Frank S Best (Director)	$0	$0

990-PF

Filed on Nov. 13, 2016

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2014

Revenue

$828,084

Expenses

$405,109

Net Income

$422,975

Net Assets

$7,093,710

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$247	0.0%
Dividends	$162,744	19.7%
Sales of Assets	$632,169	76.3%
Other Income	$32,924	4.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$355,000	87.6%
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	$7,088,603
Total Liabilities	-$5,107
Net Assets	$7,093,710

990-PF

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$361,087

Expenses

$352,493

Net Income

$8,594

Net Assets

$6,669,019

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$196	0.1%
Dividends	$156,758	43.4%
Sales of Assets	$193,768	53.7%
Other Income	$10,365	2.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$296,500	84.1%
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	$6,669,019
Total Liabilities	$0
Net Assets	$6,669,019

990-PF

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

PDF

Fiscal Year Ending Dec.
2012

Revenue

$482,235

Expenses

$412,714

Net Income

$69,521

Net Assets

$6,661,058

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$276	0.1%
Dividends	$177,642	36.8%
Sales of Assets	$304,316	63.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$376,250	91.2%
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	$6,663,392
Total Liabilities	$2,334
Net Assets	$6,661,058

990-PF

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$332,851

Expenses

$418,684

Net Income

-$85,833

Net Assets

$6,591,445

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$404	0.1%
Dividends	$162,131	48.7%
Sales of Assets	$170,310	51.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$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	$6,591,445
Total Liabilities	$0
Net Assets	$6,591,445

990-PF

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

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

PDF

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Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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M & J Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $737k (2024)

Expenses $445k (2024)

Total Assets $6.41M (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

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Document Links

990-PF

Fiscal Year Ending Dec. 2012

Revenue

$737k (2024)

Expenses

$445k (2024)

Total Assets

$6.41M (2024)

Total Liabilities

$0 (2024)

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2024

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