Orszag Foundation in West Palm Beach, Florida (FL)

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Orszag Foundation
Employer Identification Number (EIN)274825802
Name of OrganizationOrszag Foundation
In Care of NameRica Orszag
Address777 S Flagler Dr West Tower No 1500, West Palm Beach, FL 33401
SubsectionCharitable Organization
Ruling Date04/2012
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Tax Period12/2012
Assets$100,000 to $499,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$277,325
Amount of Income$515,512
Form 990 Revenue Amount$343,466
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Fund Raising and/or Fund Distribution


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Amount of income in 2012: $515,512 (it was $1,221,006 in 2011)
This organization: 

 $515,512
Other organizations performing similar types of work: 

 $67,593

Assets in 2012: $277,325 (it was $344,176 in 2011)
This organization: 

 $277,325
Other organizations performing similar types of work: 

 $38,144

Expenses in 2012: $423,349
Orszag Foundation: 

 $423,349
Other organizations performing similar types of work: 

 $42,291

Income to expenses ratio in 2012: 1.2
Orszag Foundation: 

 1.2
Other organizations performing similar types of work: 

 2.4

Grants share in income in 2012: 102.8%
This organization: 

 102.8%
Other organizations performing similar types of work: 

 98.6%

Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$343,466$121,005$0
Contributions, gifts, grants, etc., received$353,103
Interest on savings and temporary cash investments$279
Dividends and interest from securities$677
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$423,349$0$0$423,349
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$44,263$0$44,263
Contributions, gifts, grants paid$379,086
Excess of revenue over expenses and disbursements$-79,883
Net investment income$121,005
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$277,325$273,260
Cash - non-interest-bearing$38,939
Investments-U.S. and state government obligations$0
Investments-corporate stock$238,386
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Total liabilities$13,032
Mortgages and other notes payable$0
Other$13,032
Total liabilities and net assets/fund balances$264,293
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$0
Net capital loss$-10,593
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$1,210
Total credits and payments$5,901
2012 estimated tax payments and 2011 overpayment credited to 2012$5,901
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$0
Overpayment$4,691
Amount to be credited to 2013 estimated tax$4,691
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?Yes
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$268,613
Net value of noncharitable-use assets$264,580
Minimum investment return$13,229
Distributable Amount (for 2012)
Distributable amount$12,019
Undistributed Income (for 2012)
Distributable amount for 2012$12,019
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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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2Jack Tarver Family FoundationPO BOX 1908, Orlando, FL 32802-1908FL2012-05$8,981,632
3Rtjc Hogan Family Foundation, Robert T Hogan Ttee1301 Riverplace Blvd Ste 1500, Jacksonville, FL 32207-9000FL2014-11$3,457,233
4The Arc Tampa Bay Foundation Inc1501 N Belcher Rd Ste 244, Clearwater, FL 33765-1300FL1983-12$1,758,711
5Gwenn And Scott Stevenson Foundation Inc7427 Floranada Way, Delray Beach, FL 33446-2374FL2009-09$1,296,998
6Boca West Community Charitable Foundation Inc20583 Boca West Dr, Boca Raton, FL 33434-4708FL2011-02$1,160,148
7Blacks Annual Gala Inc, Consequences Charity801 Brickell Bay Dr Ste 9, Miami, FL 33131-2942FL2010-02$737,597
8J T Townsend Foundation Inc8152 Seven Mile Drive, Ponte Vedra Beach, FL 32082FL2010-08$529,144
9Orszag Foundation777 S Flagler Dr West Tower No 1500, West Palm Beach, FL 33401FL2012-04$515,512
10Speranza Foundation7402 Ox Bow Cir, Tallahassee, FL 32312FL2012-09$305,151
11Rns Faithful Servant Foundation, Ronald M Ferris Jr Ttee732 Willowhead Dr, Naples, FL 34103-3544FL2014-10$303,382
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13The Senior Life Foundation IncPO BOX 57443, Jacksonville, FL 32241-7443FL2002-05$218,733
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Number of organizations performing similar types of work
Alaska6
Alabama37
Arkansas10
Arizona53
California292
Colorado54
Connecticut35
District of Columbia9
Delaware8
Florida202
Georgia64
Hawaii12
Iowa13
Idaho18
Illinois86
Indiana36
Kansas18
Kentucky27
Louisiana33
Massachusetts74
Maryland46
Maine11
Michigan91
Minnesota32
Missouri41
Mississippi9
Montana10
North Carolina95
North Dakota4
Nebraska8
New Hampshire15
New Jersey93
New Mexico9
Nevada29
New York174
Ohio92
Oklahoma19
Oregon48
Pennsylvania109
Rhode Island20
South Carolina24
South Dakota8
Tennessee35
Texas195
Utah31
Virginia62
Vermont7
Washington54
Wisconsin40
West Virginia4
Wyoming6
International3
Total2,511

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