Whitt Foundation in Fort Smith, Arkansas (AR)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Whitt Foundation | |
| Employer Identification Number (EIN) | 710811940 |
| Name of Organization | Whitt Foundation |
| In Care of Name | Chris Whitt |
| Address | 8904 Moody Rd, Fort Smith, AR 72903-6724 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 09/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 12/2012 |
| Assets | $1 to $9,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1 |
| Amount of Income | $94,963 |
| Form 990 Revenue Amount | $18,035 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2012: $94,963 (it was $139,238 in 2011)
| This organization: | $94,963 |
| Other organizations performing similar types of work: | $72,336 |
Assets in 2012: $1 (it was $79,548 in 2011)
| This organization: | $1 |
| Other organizations performing similar types of work: | $239,394 |
Expenses in 2012: $99,617
| This organization: | $99,617 |
| Other organizations performing similar types of work: | $40,888 |
Income to expenses ratio in 2012: 1.0
| Whitt Foundation: | 1.0 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2012: 12.2%
| Whitt Foundation: | 12.2% |
| Other organizations performing similar types of work: | 0.1% |
Revenue for 2012
Expenses for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $20,217 | $17,757 | $536 | |
| Contributions, gifts, grants, etc., received | $2,460 | |||
| Interest on savings and temporary cash investments | $3 | |||
| Dividends and interest from securities | $533 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $17,221 | |||
| Total expenses and disbursements | $99,617 | $172 | $172 | $99,445 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $172 | $172 | $0 | |
| Contributions, gifts, grants paid | $99,445 | |||
| Excess of revenue over expenses and disbursements | $-79,400 | |||
| Net investment income | $17,585 | |||
| Adjusted net income | $364 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1 | $0 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $1 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $1 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $17,221 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $176 |
| Total credits and payments | $135 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $135 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $0 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $41 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $46,063 |
| Net value of noncharitable-use assets | $45,380 |
| Minimum investment return | $2,269 |
| Distributable Amount (for 2012) | |
| Distributable amount | $2,093 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $2,093 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $0 | $0 | $0 | $0 | $0 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $0 | $0 | $0 | $0 | $0 |
| Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) | $0 | $0 | $0 | $0 | $0 |
| Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii) | $0 | $0 | $0 | $0 | $0 |
| Gross investment income | $0 | $0 | $0 | $0 | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Mid South Community College Foundat Ion Inc | 2000 W Broadway St, West Memphis, AR 72301-3829 | AR | 1993-02 | $1,517,142 |
| 2 | Sylvester H Reed Memorial Trust | PO BOX 1111, Pflugerville, TX 78691-1111 | TX | 1998-01 | $1,242,927 |
| 3 | Southern Arkansas University Tech Foundation | PO BOX 3499, Camden, AR 71711-1599 | AR | 1980-12 | $215,626 |
| 4 | Arkansas Oklahoma Regional Education & Promotion Assn Inc | PO BOX 4145, Fort Smith, AR 72914-4145 | AR | 1975-08 | $2,378,204 |
| 5 | Rogers Development Foundation Inc | 317 W Walnut St, Rogers, AR 72756-4566 | AR | 1990-09 | $1,004,685 |
| 6 | Arkansas Rural Endowment Fund Inc | PO BOX 750, Little Rock, AR 72203-0750 | AR | 1971-01 | $507,111 |
| 7 | Alton E & Thelma Mccartney Scholarship Tr | PO BOX 650, Newport, AR 72112-0650 | AR | 1996-03 | $221,126 |
| 8 | Robert E And Catherine Woodson Sampley Foundation Inc | PO BOX 1147, Mount Ida, AR 71957-1147 | AR | 1995-02 | $175,098 |
| 9 | Arkansas State Elks Association Charitable Tr, Worley Roy A Ttee | 6741 Austin Bay Ct, Sherwood, AR 72120-4063 | AR | 1994-05 | $151,309 |
| 10 | Wallace Trust Foundation | 209 W Oak St, Mcgehee, AR 71654-2223 | AR | 1995-10 | $125,910 |
| 11 | Whitt Foundation | 8904 Moody Rd, Fort Smith, AR 72903-6724 | AR | 1998-09 | $94,963 |
| 12 | Class Of 62 Memorial Scholarship Foundation | Po Box 373, Smackover, AR 71762 | AR | 1998-10 | $3,306 |
| 13 | 1950s Scholarship Fund Inc | PO BOX 2155, Alma, AR 72921-2155 | AR | 1995-11 | $0 |
| 14 | Arkansas Engineering Foundation | 1320 Brookwood Dr, Little Rock, AR 72202-1406 | AR | 1979-08 | $0 |
| 15 | Black Rock Alumni Association Inc | Po Box 85, Black Rock, AR 72415 | AR | 1996-12 | $0 |
| 16 | Daisy Bates And L C Bates Foundation Inc | 3708 N Hills Blvd, N Little Rock, AR 72116-8504 | AR | 1995-03 | $0 |
| 17 | Dover Area Chamber Of Commerce Scholarship Fund Inc | Po Box 994, Dover, AR 72837-0994 | AR | 1991-07 | $0 |
| 18 | Jamie Lynn Gabbard Memorial Scholarship Trust | 3010 Coldwater Dr, Benton, AR 72019 | AR | 1992-08 | $0 |
| 19 | Mary Belle Vance Scholarship Society | 200 Louisana Street, Little Rock, AR 72201 | AR | 1998-09 | $0 |
| 20 | Mcneal Funeral Home Workers Club Inc | PO BOX 70, Brinkley, AR 72021-0070 | AR | 1992-04 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,412 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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