Seven Bridges Foundation Inc in Greenwich, Connecticut (CT)

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Seven Bridges Foundation Inc
Employer Identification Number (EIN)061498953
Name of OrganizationSeven Bridges Foundation Inc
In Care of NameRichard C Mckenzie Jr
Address114 John St, Greenwich, CT 06831-2649
ActivitiesArt exhibit
SubsectionEducational Organization
Ruling Date02/1998
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
Exempt Organization StatusUnconditional Exemption
Tax Period09/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$106,752,739
Amount of Income$47,654,082
Form 990 Revenue Amount$40,710,253
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Museum, Museum Activities

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Amount of income in 2013: $47,654,082 (it was $185,747,896 in 2012)
This organization: 

Other organizations performing similar types of work: 


Assets in 2013: $106,752,739 (it was $120,873,059 in 2012)
Seven Bridges Foundation Inc: 

Other organizations performing similar types of work: 


Expenses in 2012: $1,963,617
Seven Bridges Foundation Inc: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2012: 24.3
This organization: 

Other organizations performing similar types of work: 


Grants share in income in 2012: -18.0%
Seven Bridges Foundation Inc: 

Other organizations performing similar types of work: 


Financial snapshot ($)

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$-28,065,107$1,904,248$1,904,248
Contributions, gifts, grants, etc., received$5,062,500
Interest on savings and temporary cash investments$291
Dividends and interest from securities$1,854,794
Gross rents$49,163
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$1,963,617$179,027$179,027$1,588,586
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$1,963,617$179,027$1,588,586
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$-30,028,724
Net investment income$1,725,221
Adjusted net income$1,725,221
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$120,873,059$113,683,467
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$25,113,586
Investments-corporate bonds$26,791,900
Investments-mortgage loans$0
Total liabilities$2,430
Mortgages and other notes payable$0
Total liabilities and net assets/fund balances$120,870,629
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$0
Net capital loss$-35,031,855
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$34,504
Total credits and payments$47,144
2012 estimated tax payments and 2011 overpayment credited to 2012$47,144
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
Amount to be credited to 2013 estimated tax$12,640
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?Yes
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?Yes
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$61,418,928
Net value of noncharitable-use assets$60,497,640
Minimum investment return$3,024,882
Distributable Amount (for 2012)
Distributable amount$0
Undistributed Income (for 2012)
Distributable amount for 2012$0
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
The lesser of the adjusted net income or the minimum investment return$1,725,221$3,515,911$3,120,188$1,760,160$10,121,480
Qualifying distributions made directly for active conduct of exempt activities$5,911,135$10,728,907$8,398,225$6,556,373$31,594,640
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$2,016,588$2,343,940$2,080,125$1,588,595$8,029,248
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
IdNameAddressStateEstablishedTotal Income
1Seven Bridges Foundation Inc114 John St, Greenwich, CT 06831-2649CT1998-02$47,654,082
2The Marshall Museum And Library, Marshall E Pierce Ttee320 Hammond Hwy 403, Metairie, LA 70005-5100LA1995-12$21,905,070
3Tennessee Golf Foundation400 Franklin Rd, Franklin, TN 37069-8204TN1990-09$8,734,548
4Unlimited Opportunities IncPO BOX 239, Boonville, MO 65233-0239MO1996-11$2,882,797
5Brant Foundation Inc80 Field Point Rd Ste 3rd Fl, Greenwich, CT 06830-6416CT1998-07$2,563,305
6Lockwood-Mathews Mansion Museum Of Norwalk Inc295 West Ave, Norwalk, CT 06850-4002CT1991-07$1,550,687
7The Mch Foundation Inc101 E Park Blvd Lb63 Ste 1039, Plano, TX 75074TX1995-08$563,268
8Rotch-Jones-Duff House & Garden Museum Inc396 County St, New Bedford, MA 02740-4934MA1985-12$547,216
9Tiel Sanford Memorial Fund117 E Willow St, Cherokee, IA 51012-1854IA1947-09$397,256
10Vintage Auto Heritage FoundationPO BOX 61369, Houston, TX 77208-1369TX1997-05$390,000
11Sandwich Historical SocietyPO BOX 244, Ctr Sandwich, NH 03227-0244NH1946-06$291,108
12Action Wildlife Foundation Inc43 Norfolk St, Torrington, CT 06790-4825CT1995-10$238,455
13The Dna Epicenter Inc300 Hartford Rd, Salem, CT 06420-3816CT1994-12$198,100
14Connecticut Eastern Chapt National Railway Historical Society, Ct Eastern Railroad MuseumPO BOX 665, Willimantic, CT 06226-0665CT1997-06$65,638
15Norwich Museum Trust Inc91 Main St, Norwich, CT 06360-5703CT1994-12$51,595
16Antiques Reference Library Inc5 Church Hill Rd, Newtown, CT 06470-1605CT1993-06$0
17Connecticut Trapshooting Hall Of Fame Inc28 White Pine Dr, Brookfield, CT 06804-3454CT1992-05$0
18New Fairfield Historical Society IncPo Box 8156, New Fairfield, CT 06812CT1998-08$0
19Shang Wheeler Memorial Museum, Richardson Donald V95 Manor Hill Rd, Stratford, CT 06614-1658CT1991-08$0
20Workshop For The World Inc1157 Highland Avenue, Cheshire, CT 06410-1600CT1996-03$0
Number of organizations performing similar types of work
District of Columbia3
North Carolina3
North Dakota2
New Hampshire7
New Jersey8
New Mexico1
New York15
Rhode Island1
South Carolina3
South Dakota3
West Virginia2
Total378 is not associated with, endorsed by, or sponsored by Seven Bridges Foundation Inc and has no official or unofficial affiliation with Seven Bridges Foundation Inc