Galashiels Fund Ltd in Northbrook, Illinois (IL)
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
- Other organizations in Illinois
| Galashiels Fund Ltd | |
| Employer Identification Number (EIN) | 943059858 |
| Name of Organization | Galashiels Fund Ltd |
| Address | 555 Skokie Blvd Ste 555, Northbrook, IL 60062-2854 |
| Activities | Art exhibit |
| Subsection | Charitable Organization |
| Ruling Date | 05/1988 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $50,000,000 to greater |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $98,873,713 |
| Amount of Income | $7,203,942 |
| Form 990 Revenue Amount | $2,179,549 |
Non-representatives - add comments:
Revenue for 2012
Expenses for 2012
Assets 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 | $12,120,587 | $11,754,366 | $0 | |
| Contributions, gifts, grants, etc., received | $5,000 | |||
| Interest on savings and temporary cash investments | $9,248 | |||
| Dividends and interest from securities | $1,034,992 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $4,055,807 | |||
| Other | $7,015,540 | |||
| Total expenses and disbursements | $8,423,463 | $1,311,241 | $0 | $5,949,970 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $2,529,463 | $1,311,241 | $55,970 | |
| Contributions, gifts, grants paid | $5,894,000 | |||
| Excess of revenue over expenses and disbursements | $3,697,124 | |||
| Net investment income | $10,443,125 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $99,939,228 | $106,043,752 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $12,926,863 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $51,779,893 | |
| Other | $35,232,472 | |
| Total liabilities | $2,940,354 | |
| Mortgages and other notes payable | $0 | |
| Other | $2,940,354 | |
| Total liabilities and net assets/fund balances | $96,998,874 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $7,015,540 |
| 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 | $104,431 |
| Total credits and payments | $152,219 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $2,219 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $150,000 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $47,788 |
| Amount to be credited to 2013 estimated tax | $47,788 |
| 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? | Yes |
| 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 | $86,747,815 |
| Net value of noncharitable-use assets | $85,446,600 |
| Minimum investment return | $4,272,330 |
| Distributable Amount (for 2012) | |
| Distributable amount | $4,167,899 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $4,167,899 |
| 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 |
| Unrelated Trade or Business Income (for 2008) | |||
| Income | Expenses | Net | |
|---|---|---|---|
| Total | $-643,889 | $0 | $-643,889 |
| Gross receipts or sales less returns and allowances | $0 | $0 | $0 |
| Cost of goods sold | $0 | $0 | $0 |
| Gross profit | $0 | $0 | $0 |
| 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 | $-643,889 | $0 | $-643,889 |
| 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 | $0 | $0 | $0 |
| Deductions Not Taken Elsewhere (for 2008) | |
| Total deductions | $0 |
| Compensation of officers, directors, and trustees | $0 |
| Salaries and wages | $0 |
| Repairs and maintenance | $0 |
| Bad debts | $0 |
| Interest | $0 |
| Taxes and licenses | $0 |
| Charitable contributions | $0 |
| Depreciation | $0 |
| Depletion | $0 |
| Contributions to deferred compensation plans | $0 |
| Employee benefit programs | $0 |
| Excess exempt expenses | $0 |
| Excess readership costs | $0 |
| Other deductions | $0 |
| Unrelated business taxable income | $-643,889 |
| Unrelated business taxable income before net operating loss deduction | $-643,889 |
| Net operating loss deduction | $0 |
| Unrelated business taxable income before specific deduction | $-643,889 |
| Specific deduction | $0 |
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| Other organizations in Illinois | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Foundation For Human Development | 8 S Michigan Ave Ste 1206, Chicago, IL 60603-3386 | IL | 1972-06 | $3,959,583 |
| 2 | Fox Valley Family Ymca Inc | 3875 Eldamain Rd, Plano, IL 60545-9583 | IL | 1979-09 | $3,537,829 |
| 3 | Frances E Streit Foundation, Peggy A Wagener Ttee | 1636 N Wells, Chicago, IL 60614-6037 | IL | 2003-06 | $1,274,788 |
| 4 | Frank C Callahan And Marion C Callahan Foundation | 9200 S Winchester Ave, Chicago, IL 60643-6307 | IL | 1963-06 | $173 |
| 5 | Fred G Harrison Foundation | 101 S Park Ave, Herrin, IL 62948-3609 | IL | 1971-08 | $440,520 |
| 6 | Brushwood Center At Ryerson Woods | 21850 N Riverwoods Rd, Riverwoods, IL 60015-1620 | IL | 1994-11 | $391,272 |
| 7 | Friends Of The Park Ridge Library | 20 S Prospect Avenue, Park Ridge, IL 60068 | IL | 1994-07 | $0 |
| 8 | Friendship Senior Options Foundation Nfp | 350 W Schaumburg Road, Schaumburg, IL 60194-3464 | IL | 2007-01 | $368,799 |
| 9 | Fund For Jewish Education Inc | 8114 Lawndale Ave, Skokie, IL 60076-3322 | IL | 1992-02 | $186,964 |
| 10 | G E Egan Foundation, C-O Gerald Egan | 439 Grove St, Glencoe, IL 60022-1845 | IL | 1994-04 | $51,000 |
| 11 | Galashiels Fund Ltd | 555 Skokie Blvd Ste 555, Northbrook, IL 60062-2854 | IL | 1988-05 | $7,203,942 |
| 12 | Galesburg Per Club Inc | 1640 N Henderson St, Galesburg, IL 61401-7040 | IL | 2002-12 | $61,777 |
| 13 | Galesburg Transit I Corporation | 567 S Farnham St, Galesburg, IL 61401-5329 | IL | 2000-10 | $808,503 |
| 14 | Gardner Museum Of Architecture & Design | 332 Maine St, Quincy, IL 62301-3929 | IL | 1977-07 | $18,576 |
| 15 | Garfield Park Conservatory Alliance | 300 N Central Park Ave, Chicago, IL 60624-1996 | IL | 1998-06 | $1,679,957 |
| 16 | Gaylord And Dorothy Donnelley Foundation | 35 E Wacker Dr Ste 2600, Chicago, IL 60601-2309 | IL | 1954-02 | $21,100,311 |
| 17 | Geneva Historical Society | 113 S 3rd St, Geneva, IL 60134-2721 | IL | 1957-09 | $952,386 |
| 18 | Gottlieb Community Health Services Corporation | 701 W North Ave, Melrose Park, IL 60160-1612 | IL | 1985-06 | $7,349,873 |
| 19 | Government Finance Officers Assn Of The United States & Canada | 203 N Lasalle St 2700, Chicago, IL 60601 | IL | 1942-07 | $15,067,718 |
| 20 | Second Sense | 65 E Wacker Pl Ste 1010, Chicago, IL 60601-7216 | IL | 1950-02 | $619,145 |
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