The Korsant Charitable Foundation, Philip B & Catherine N Korsant Ttee in Key Largo, 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
- Organizations performing similar types of work
| The Korsant Charitable Foundation, Philip B & Catherine N Korsant Ttee | |
| Employer Identification Number (EIN) | 066440290 |
| Name of Organization | The Korsant Charitable Foundation |
| Secondary Name | Philip B & Catherine N Korsant Ttee |
| Address | 35 Ocean Reef Dr Ste 142, Key Largo, FL 33037-5262 |
| Activities | Business promotion (chamber of commerce, business league, etc.) |
| Subsection | Charitable Organization |
| Ruling Date | 10/1997 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 11/2014 |
| Assets | $25,000 to $99,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $38,435 |
| Amount of Income | $4 |
| Form 990 Revenue Amount | $36 |
| National Taxonomy of Exempt Entities (NTEE) | Community Improvement, Capacity Building: Promotion of Business |
Non-representatives - add comments:
Amount of income in 2014: $4 (it was $20 in 2012)
| This organization: | $4 |
| Other organizations performing similar types of work: | $180,052 |
Assets in 2014: $38,435 (it was $45,727 in 2012)
| This organization: | $38,435 |
| Other organizations performing similar types of work: | $162,128 |
Expenses in 2012: $7,400
| The Korsant Charitable Foundation, Philip B & Catherine N Korsant Ttee: | $7,400 |
| Other organizations performing similar types of work: | $157,385 |
Income to expenses ratio in 2012: 0.0
| This organization: | 0.0 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 0.0%
| The Korsant Charitable Foundation, Philip B & Catherine N Korsant Ttee: | 0.0% |
| Other organizations performing similar types of work: | 5.2% |
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 | $20 | $20 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $6 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $14 | |||
| Total expenses and disbursements | $7,400 | $2,400 | $0 | $5,000 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $2,400 | $2,400 | $0 | |
| Contributions, gifts, grants paid | $5,000 | |||
| Excess of revenue over expenses and disbursements | $-7,380 | |||
| Net investment income | $0 | |||
| Adjusted net income | $20 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $45,727 | $45,727 |
| Cash - non-interest-bearing | $45,727 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $45,727 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| 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 | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| 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 | $49,478 |
| Net value of noncharitable-use assets | $48,740 |
| Minimum investment return | $2,437 |
| Distributable Amount (for 2012) | |
| Distributable amount | $2,437 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $2,437 |
| 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 | The Florida Restaurant & Lodging Association Inc | 230 S Adams, Tallahassee, FL 32301-1729 | FL | 1991-05 | $20,042,395 |
| 2 | Clay County Chamber Of Commerce | 1734 Kingsley Avenue, Orange Park, FL 32073-4494 | FL | 1986-04 | $850,274 |
| 3 | One Community One Goal Inc | 1500 Biscayne Blvd Ste 237, Miami, FL 33132-1440 | FL | 1998-10 | $3,402 |
| 4 | Toy Industry Foundation | 1115 Broadway Ste 400, New York, NY 10010-3466 | NY | 1964-05 | $20,101,942 |
| 5 | Salesmanship Club Of Dallas | 106 East 10th Street Suite 200, Dallas, TX 75203-2236 | TX | 1932-09 | $11,816,023 |
| 6 | Salesmanship Club Youth And Family Centers Inc | 106 East 10th Street Suite 200, Dallas, TX 75203-2236 | TX | 1932-09 | $11,362,324 |
| 7 | Gainesville Area Chamber Of Commerce | 300 East University Avenue Suite 10, Gainesville, FL 32601-3456 | FL | 1942-08 | $1,925,118 |
| 8 | Southern Association Of Student Financial Aid Administrators Inc | 735 E Park Ave, Tallahassee, FL 32301-2618 | FL | 1986-01 | $656,068 |
| 9 | Pensacola Area Chamber Foundation Inc | PO BOX 550, Pensacola, FL 32591-0550 | FL | 1983-11 | $596,720 |
| 10 | Communication Workers Of America, 3104 Cwa | 3121 Sw 15th Street, Pompano Beach, FL 33069-4806 | FL | 1960-01 | $434,515 |
| 11 | Florida Ground Water Association | 325 John Knox Road No L-103, Tallahassee, FL 32303-4121 | FL | 1983-06 | $325,958 |
| 12 | Sanibel Captiva Islands Chamber Of Commerce Inc | 1159 Causeway Rd, Sanibel, FL 33957-3709 | FL | 1988-12 | $317,817 |
| 13 | Frsa Educational Scholarship Foundation Inc | 7071 University Blvd, Winter Park, FL 32792-6721 | FL | 1984-03 | $239,074 |
| 14 | Florida Association Of Student Financial Aid Administrators Inc | 2400 Feather Sound Dr Apt 1228, Clearwater, FL 33762-3096 | FL | 1984-10 | $180,052 |
| 15 | The Korsant Charitable Foundation, Philip B & Catherine N Korsant Ttee | 35 Ocean Reef Dr Ste 142, Key Largo, FL 33037-5262 | FL | 1997-10 | $4 |
| 16 | Aace International, Emerald Coast Section | 113 Beth Ln, Santa Rsa Bch, FL 32459-4262 | FL | 1964-07 | $0 |
| 17 | Aace International, Palm Beaches & Treasure Coast Sec | 700 Universe Blvd, Juno Beach, FL 33408-2657 | FL | 1964-07 | $0 |
| 18 | No Power To Drugs Foundation Inc | 15831 Nw 15th Ct, Pmbk Pines, FL 33028-1682 | FL | 1996-04 | $0 |
| 19 | Society Of Women Engineers | Bldg 4 11000 University Pkwy, Pensacola, FL 32514 | FL | 1992-09 | $0 |
| 20 | The Greater Fort Lauderdale Chamber Foundation Inc | 512 Ne 3rd Ave, Ft Lauderdale, FL 33301-3236 | FL | 1989-01 | $0 |
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