Precious Promise Development Corporation Inc in Lake Worth, Florida (FL)
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
- Unrelated Trade or Business Income
- Deductions Not Taken Elsewhere
- Organizations performing similar types of work
| Precious Promise Development Corporation Inc | |
| Employer Identification Number (EIN) | 650746047 |
| Name of Organization | Precious Promise Development Corporation Inc |
| In Care of Name | Sharon Scott |
| Address | 1744 Lake Worth Rd, Lake Worth, FL 33460-3627 |
| Activities | Described in section 170(b)1)(a)(vi) of the Code, Day care center |
| Subsection | Educational Organization |
| Ruling Date | 03/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2011 |
| Assets | $1 to $9,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1 |
| Amount of Income | $153,889 |
| Form 990 Revenue Amount | $249,001 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Kindergarten, Preschool, Nursery School, Early Admissions |
Non-representatives - add comments:
Amount of income in 2011: $153,889 (it was $249,001 in 2010)
| This organization: | $153,889 |
| Other organizations performing similar types of work: | $322,911 |
Assets in 2011: $1 (it was $1,004 in 2010)
| This organization: | $1 |
| Other organizations performing similar types of work: | $187,411 |
Expenses in 2011: $162,623
| Precious Promise Development Corporation Inc: | $162,623 |
| Other organizations performing similar types of work: | $367,198 |
Income to expenses ratio in 2011: 0.9
| This organization: | 0.9 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2011: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 2.3% |
Expenses for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $153,889 | $0 | $153,889 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $153,889 | |||
| Total expenses and disbursements | $162,623 | $0 | $162,623 | $0 |
| Compensation of officers, directors, trustees, etc. | $46,263 | |||
| Total operating and administrative expenses | $162,623 | $0 | $0 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $-8,734 | |||
| Net investment income | $0 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| 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 | $0 | |
| Total liabilities and net assets/fund balances | $0 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $0 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| 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 2011 or the taxable year beginning in 2011? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| 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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | 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 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $0 |
| Net value of noncharitable-use assets | $0 |
| Minimum investment return | $0 |
| Distributable Amount (for 2011) | |
| Distributable amount | $0 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $0 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $0 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | 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 |
| Unrelated Trade or Business Income (for 2007) | |||
| Income | Expenses | Net | |
|---|---|---|---|
| Total | $2,428,301 | $0 | $242,830 |
| Gross receipts or sales less returns and allowances | $24,080 | $0 | $0 |
| Cost of goods sold | $125,161 | $0 | $0 |
| Gross profit | $115,641 | $0 | $11,564 |
| Capital gain net income | $0 | $0 | $0 |
| Net gain | $0 | $0 | $0 |
| Capital loss deduction for trusts | $0 | $0 | $0 |
| Income (loss) from partnerships and S corporations | $0 | $0 | $0 |
| Rent income | $0 | $0 | $0 |
| Unrelated debt-financed income | $0 | $0 | $0 |
| Interest, annuities, royalties, and rents from controlled organizations | $0 | $0 | $0 |
| Investment income of a section 501(c)(7), (9), or (17) organization | $0 | $0 | $0 |
| Exploited exempt activity income | $0 | $0 | $0 |
| Advertising income | $0 | $0 | $0 |
| Other income | $2,312,661 | $0 | $231,266 |
| Deductions Not Taken Elsewhere (for 2007) | |
| Total deductions | $242,198 |
| Compensation of officers, directors, and trustees | $87,800 |
| Salaries and wages | $72,998 |
| Repairs and maintenance | $3,520 |
| Bad debts | $0 |
| Interest | $0 |
| Taxes and licenses | $17,003 |
| Charitable contributions | $0 |
| Depreciation | $0 |
| Depletion | $0 |
| Contributions to deferred compensation plans | $0 |
| Employee benefit programs | $2,178 |
| Excess exempt expenses | $0 |
| Excess readership costs | $0 |
| Other deductions | $58,699 |
| Unrelated business taxable income | $0 |
| Unrelated business taxable income before net operating loss deduction | $632 |
| Net operating loss deduction | $0 |
| Unrelated business taxable income before specific deduction | $632 |
| Specific deduction | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Pine School Inc | 12350 Se Federal Hwy, Hobe Sound, FL 33455-5515 | FL | 1970-08 | $10,465,926 |
| 2 | Vacaville Christian Academy | 1117 Davis St, Vacaville, CA 95687-5403 | CA | 1976-02 | $9,591,193 |
| 3 | Jacksonville Country Day School | 10063 Baymeadows Rd, Jacksonville, FL 32256-7178 | FL | 1962-07 | $7,774,246 |
| 4 | Gulfstream School Inc | 3600 Gulfstream Rd, Gulf Stream, FL 33483-7410 | FL | 1964-10 | $6,478,120 |
| 5 | Saint Josephs Episcopal School Inc | 3300 S Seacrest Blvd, Boynton Beach, FL 33435 | FL | 1990-01 | $3,124,942 |
| 6 | Creative Learning Academy Of Pensacola Inc | 3151 Hyde Park Rd, Pensacola, FL 32503-5842 | FL | 1973-02 | $2,246,690 |
| 7 | Miami Christian School | 200 Nw 109th Ave, Miami, FL 33172-5212 | FL | 1956-01 | $1,942,427 |
| 8 | Discovery Montessori School Inc | 102 15th St S, Jax Bch, FL 32250-2617 | FL | 1991-08 | $1,591,973 |
| 9 | Charlotte Country Day School Inc | 365 Orlando Blvd, Pt Charlotte, FL 33954-3504 | FL | 1996-10 | $1,184,306 |
| 10 | New Gate School Inc | 5237 Ashton Rd, Sarasota, FL 34233-3417 | FL | 1993-08 | $1,135,463 |
| 11 | Montessori Childrens School Of Key West Inc | 1221 Varela St, Key West, FL 33040-3313 | FL | 1972-09 | $813,340 |
| 12 | Twiggs Learning Tree Child Care And Kindergarten Inc | 101 10th St, Lake Park, FL 33403-3155 | FL | 1995-09 | $315,121 |
| 13 | Stonesoup School Inc | 3955 Red Bug Lake Rd, Casselberry, FL 32707-5501 | FL | 1972-03 | $206,618 |
| 14 | South Broward Cradle Nursery Inc | 2203 Douglas St, Hollywood, FL 33020-1425 | FL | 1969-02 | $87,121 |
| 15 | Seminole Montessori School, No | Po Box 372478, Satellite Bch, FL 32937-0478 | FL | 1985-02 | $33,671 |
| 16 | Christ Lutheran Church Preschool | 1955 E Oakland Park Blvd, Ft Lauderdale, FL 33306-1103 | FL | 1995-01 | $0 |
| 17 | Lake Park Baptist School | 625 Park Ave, Lake Park, FL 33403-2501 | FL | 1998-04 | $0 |
| 18 | Summit Christian School Inc | 9065 Ligon Ct, Fort Myers, FL 33908-3602 | FL | 1992-12 | $0 |
| 19 | Victory Christian School Of Orlando Inc | 1199 Clay St, Winter Park, FL 32789-5486 | FL | 1997-08 | $0 |
| 20 | Woodland Early Childhood Center Inc | 9607 E State Road 70, Bradenton, FL 34202-9414 | FL | 1995-01 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,345 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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