McNabb Foundation
EIN 823609769About
We respectfully request that McNabb's quarterly estimated taxes for taxable year ending December 31, 2024 be treated as timely and request that the $146 penalty indicated on Form 2220 be abated because the underpayments in 2024 was due to reasonable cause. Treasury Regulations Sec 301.6651-1(c)(1) defines reasonable by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to calculate its quarterly estimates for tax period ending December 31, 2024. The firm was unable to reconcile the Foundation's accounts fully in order to calculate the necessary estimated tax payments for 2024 based on the annualization method. The underpayment was no fault of the foundation's and the firm is enhancing its procedures to improve its reconciliation process for future quarters. We believe that the underpayment was due to reasonable cause and in no way due to an intentional disregard for the rules, and respectfully request that no 2220 penalty be assessed.
Focus Areas
Application Information
Financial Trends
Giving Over Time
Total Assets Over Time
View financial data as table
| Year | Total Giving | Total Assets | Revenue | Grants |
|---|---|---|---|---|
| 2018 | $84K | $2.6M | $551K | 64 |
| 2019 | N/A | $3.2M | $712K | N/A |
| 2020 | $207K | $3.6M | $592K | 178 |
| 2021 | $361K | $4.1M | $640K | 331 |
| 2022 | $376K | $3.9M | $615K | 324 |
| 2023 | $338K | $4.3M | $761K | 318 |
| 2024 | $358K | $4.8M | $978K | 328 |
Grant Size Distribution
Based on 1543 grants on record
Geographic Distribution
Texas Counties Served
Top 6 counties
- 1 Dallas
- 2 Harris
- 3 Travis
- 4 Smith
- 5 Fort Bend
- 6 Bexar
Officers & Directors
Grants Awarded (1,543 total)
| Purpose | ||||
|---|---|---|---|---|
| Transcendence Theater Company | Sonoma, CA | $25,000 | General & Unrestricted | 2022 |
| Clongowes Wood Foundation-Us Inc | Medfield, MA | $11,300 | Alberto Hurtado Programme | 2018 |
| Mayo Clinic | Rochester, MN | $7,000 | General & Unrestricted | 2022 |
| Boy Scouts of America | Foster City, CA | $5,000 | Pacific Skyline Council and Digital Recruiting Project | 2020 |
| Boys to Men Usa Inc | Prescott, AZ | $5,000 | Charitable Event | 2020 |
| Mayo Clinic | Rochester, MN | $5,000 | General & Unrestricted | 2021 |
| One Minute Gardener | San Francisco, CA | $5,000 | General & Unrestricted | 2021 |
| Pathways for Kids | San Francisco, CA | $5,000 | General & Unrestricted | 2022 |
| Transcendence Theater Company | Sonoma, CA | $5,000 | General & Unrestricted | 2023 |
| Asian Pacific American Community Center | San Francisco, CA | $5,000 | General & Unrestricted | 2024 |
| Film Makers Collaborative Incorporated | Melrose, MA | $4,000 | FLY BROTHER program | 2022 |
| Pathways for Kids | San Francisco, CA | $4,000 | General & Unrestricted | 2024 |
| Asian Pacific American Community Center | San Francisco, CA | $4,000 | General & Unrestricted | 2018 |
| Five 4 Five | Fairfax, CA | $3,000 | General & Unrestricted | 2020 |
| San Domenico School | San Anselmo, CA | $3,000 | General & Unrestricted | 2020 |
| Sfba | San Francisco, CA | $3,000 | General & Unrestricted | 2020 |
| St Josephs Soup Kitchen Incorporated | New York, NY | $3,000 | General & Unrestricted | 2020 |
| Saint Catherine of Siena Church | Burlingame, CA | $3,000 | General & Unrestricted | 2021 |
| San Domenico School | San Anselmo, CA | $3,000 | General & Unrestricted | 2021 |
| Pwic Global Impact | San Francisco, CA | $3,000 | General & Unrestricted | 2024 |
| Transcendence Theater Company | Sonoma, CA | $2,500 | General & Unrestricted | 2024 |
| One Minute Gardener | San Francisco, CA | $2,500 | General & Unrestricted | 2018 |
| One Minute Gardener | San Francisco, CA | $2,500 | Joshua Cameron Scholarship Fund | 2018 |
| Asian Pacific American Community Center | San Francisco, CA | $2,000 | General & Unrestricted | 2020 |
| Building Education | San Francisco, CA | $2,000 | General & Unrestricted | 2020 |