Carrie E Gross Trust in Chicago, Illinois (IL)

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Carrie E Gross Trust
Employer Identification Number (EIN)436575377
Name of OrganizationCarrie E Gross Trust
In Care of NameBank Of America Na
Address135 S Lasalle St Il4-135-14-19, Chicago, IL 60603
ActivitiesScholarships (other)
SubsectionCharitable Organization
Ruling Date12/1995
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period07/2014
Assets$1,000,000 to $4,999,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$1,201,037
Amount of Income$494,035
Form 990 Revenue Amount$117,315
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2014: $494,035 (it was $775,002 in 2013)
This organization: 

 $494,035
Other organizations performing similar types of work: 

 $72,336

Assets in 2014: $1,201,037 (it was $1,244,615 in 2013)
Carrie E Gross Trust: 

 $1,201,037
Other organizations performing similar types of work: 

 $239,394

Expenses in 2014: $98,629
This organization: 

 $98,629
Other organizations performing similar types of work: 

 $40,888

Income to expenses ratio in 2014: 5.0
This organization: 

 5.0
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2014: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 0.1%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Expenses for 2014

Analysis of Revenue and Expenses (for 2014)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$43,204$42,868$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$36,419
Gross rents$0
Gross sales price for all assets$457,616
Gross profit from sales of goods$0
Other income$0
Other$6,785
Total expenses and disbursements$98,629$11,388$0$85,730
Compensation of officers, directors, trustees, etc.$18,024
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$1,340
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$24,796$11,388$11,897
Contributions, gifts, grants paid$73,833
Excess of revenue over expenses and disbursements$-55,425
Net investment income$31,480
Adjusted net income$0
Balance Sheets
2011201220132014
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$1,210,936$1,395,907$1,207,734$1,260,721$1,244,615$1,327,063$1,201,037$1,349,591
Cash - non-interest-bearing$0$0$0$0
Investments-U.S. and state government obligations$213,121$212,033$151,265$150,834
Investments-corporate stock$968,423$856,382$1,062,518$1,034,104
Investments-corporate bonds$0$0$0$0
Investments-mortgage loans$0$0$0$0
Investments-other$0$0$0$0
Other assets$0$0
Total liabilities$0$0$0$1
Mortgages and other notes payable$0$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$1,210,936$1,207,734$1,244,615$1,201,037
Capital Gains and Losses for Tax on Investment Income
2011201220132014
Capital gain net income$140,924$78,714$41,328$6,785
Net capital loss$0$0$0$0
Excise Tax Based on Investment Income
2011201220132014
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNoNo
Tax based on investment income$3,536$1,080$1,296$315
Total credits and payments$4,700$4,061$1,080$1,296
Current year estimated tax payments and previous year's overpayment credited to current year$0$4,061$1,080$1,296
Exempt foreign organizations-tax withheld at source$0$0$0$0
Tax paid with application for extension of time to file (Form 8868)$4,700$0$0$0
Backup withholding erroneously withheld$0$0$0$0
Any penalty for underpayment of estimated tax$103$0$0$0
Tax due$216$0
Overpayment$0$981
Amount to be credited to next year's estimated tax$1,061$1,080$0$316
Statements Regarding Activities
2011201220132014
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?NoNoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
2011201220132014
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?YesNoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYesYesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNoNo
Agree to pay money or property to a government official?NoNoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?YesYesYesYes
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)?NoNoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
2011201220132014
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$1,363,630$1,285,513$1,304,151$1,340,363
Net value of noncharitable-use assets$1,284,589$1,320,258
Minimum investment return$67,159$63,312$64,229$66,013
Distributable Amount
2011201220132014
Distributable amount$63,623$62,232$62,933$65,698
Undistributed Income
2011201220132014
Distributable amount for this year$63,623$62,232$62,933$65,698
Undistributed income for this year. This amount must be distributed in the next year$2,564$0$0$0
Private Operating Foundations (for 2011 - 2014)
2014201320122011Total
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
Supplementary Information (for 2014)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2014)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$36,419$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Sylvester H Reed Memorial TrustPO BOX 1111, Pflugerville, TX 78691-1111TX1998-01$1,242,927
2Sigma Chi Foundation1714 Hinman Ave, Evanston, IL 60201-4517IL1941-04$11,127,580
3Wessner FoundationHarrison Held Llp 333 W Wacker, Chicago, IL 60606IL1998-11$2,753,378
4Austin Special Chicago5318 N Elston Ave, Chicago, IL 60630-1611IL1955-03$2,298,582
5Womens Western Golf Foundation6388 Old Oak Rd, Libertyville, IL 60048-9446IL1972-12$733,287
6Young Chicago Authors1180 N Milwaukee 2nd Fl, Chicago, IL 60642-4019IL1991-10$645,525
7Woodrow W Woods Educational Trust 935795340010 S Dearborn St Ste 21 Fl, Chicago, IL 60603-2300IL1997-09$379,138
8Walter E & Orva M Duling Tr10 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1995-04$283,730
9Womans Educational Aid AssociationC/O Helen Gagel 804 Oakton St 1e, Evanston, IL 60202IL1980-01$227,180
10Roy L Crume Tr Uw111 W Monroe St Tax Div 16w, Chicago, IL 60603IL1997-02$217,700
11Rotary Club Of Schaumburg-Hoffman Estates Charitable Foundation IncPO BOX 958121, Hoffman Est, IL 60195-8121IL1995-01$181,426
12St Louis Association Of Credit Management3005 Tollview Drive, Rolling Meadows, IL 60008-3726IL1994-06$127,666
13The Arthur E Brown Endowment Scholarship TrustThe National Bank 1523 8th Street, East Moline, IL 61244IL1997-10$90,813
14Walter & Lois Schuessler Scholarship Foundation400 N Mcclurg Ct Apt 3406, Chicago, IL 60611-4388IL1998-07$85,783
15St Charles Rotary FoundationC/O John Kunzer 11n221 Romeo Dr, Elgin, IL 60124IL1995-08$76,453
16Rotary Club Of Wheeling Illinois- Grant FundPo Box 75, Wheeling, IL 60090IL1997-12$52,959
17Security Traders Association Of Chicago Scholarship Fund Inc216 W Jackson Blvd No 625, Chicago, IL 60606IL1992-01$51,702
18The Elizabeth Reller Memorial Scholarship Fund300 Washington St, Beardstown, IL 62618-1194IL1995-10$48,401
19Svi Scholarship Fund1000 Adare Dr, Wheaton, IL 60189-6118IL1995-02$45,376
20The Donald J Doody Foundation15 Salt Creek Ln Ste 312, Hinsdale, IL 60521-2964IL1997-11$38,969
Number of organizations performing similar types of work
Alaska15
Alabama29
Arkansas27
Arizona42
California252
Colorado46
Connecticut69
District of Columbia36
Delaware10
Florida151
Georgia78
Hawaii18
Iowa52
Idaho15
Illinois193
Indiana80
Kansas57
Kentucky48
Louisiana26
Massachusetts102
Maryland74
Maine15
Michigan138
Minnesota61
Missouri93
Mississippi12
Montana14
North Carolina100
North Dakota5
Nebraska30
New Hampshire12
New Jersey147
New Mexico15
Nevada16
New York202
Ohio188
Oklahoma33
Oregon38
Pennsylvania160
Rhode Island22
South Carolina36
South Dakota7
Tennessee42
Texas251
Utah11
Virginia136
Vermont9
Washington68
Wisconsin96
West Virginia21
Wyoming9
International5
Total3,412

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