Joyce Foundation in Chicago, Illinois (IL)

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Joyce Foundation
Employer Identification Number (EIN)366079185
Name of OrganizationJoyce Foundation
Address321 N Clark St Ste 1500, Chicago, IL 60654-4740
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date08/1949
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 - Not required to file (all other)
Asset Amount$936,451,953
Amount of Income$145,188,245
Form 990 Revenue Amount$38,177,987
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations


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Amount of income in 2013: $145,188,245 (it was $77,428,042 in 2012)
This organization: 

 $145,188,245
Other organizations performing similar types of work: 

 $107,502

Assets in 2013: $936,451,953 (it was $832,164,870 in 2012)
This organization: 

 $936,451,953
Other organizations performing similar types of work: 

 $322,766

Expenses in 2013: $46,813,883
Joyce Foundation: 

 $46,813,883
Other organizations performing similar types of work: 

 $58,249

Income to expenses ratio in 2013: 3.1
This organization: 

 3.1
Other organizations performing similar types of work: 

 2.0

Grants share in income in 2013: 0.0%
Joyce Foundation: 

 0.0%
Other organizations performing similar types of work: 

 98.7%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$75,477,166$79,452,042$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$12,000,551
Gross rents$0
Gross sales price for all assets$128,229,217
Gross profit from sales of goods$0
Other income$4,958,477
Other$58,518,138
Total expenses and disbursements$46,813,883$3,054,410$0$41,134,153
Compensation of officers, directors, trustees, etc.$1,177,132
Pension plans, employee benefits$939,741
Legal fees$113,480
Accounting fees$73,017
Interest$0
Depreciation$2,339,717
Occupancy$576,613
Travel, conferences, and meetings$528,040
Printing and publications$160,829
Total operating and administrative expenses$11,638,666$3,054,410$6,052,416
Contributions, gifts, grants paid$35,175,217
Excess of revenue over expenses and disbursements$28,663,283
Net investment income$76,397,632
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$760,580,322$760,580,322$832,164,870$832,164,870$936,451,953$936,451,953
Cash - non-interest-bearing$499,982$614,217$683,656
Investments-U.S. and state government obligations$22,964,438$31,955,755$94,099,145
Investments-corporate stock$190,827,427$212,992,236$257,990,392
Investments-corporate bonds$44,954,690$63,375,546$0
Investments-mortgage loans$0$0$0
Investments-other$467,544,018$508,258,368$565,186,247
Other assets$24,521$34,927
Total liabilities$7,892,166$14,526,203$16,307,485
Mortgages and other notes payable$0$0$0
Other liabilities$2,420,182$3,915,806
Total liabilities and net assets/fund balances$752,688,156$817,638,667$920,144,468
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$23,471,993$29,615,282$58,518,138
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$751,506$485,593$1,527,953
Total credits and payments$948,974$1,322,468$1,887,675
Current year estimated tax payments and previous year's overpayment credited to current year$848,974$707,468$1,387,675
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$100,000$615,000$500,000
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Overpayment$836,875$359,722
Amount to be credited to next year's estimated tax$197,468$836,875$359,722
Statements Regarding Activities
201120122013
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?NoNoNo
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?NoYes
Has the foundation filed a tax return on Form 990-T for this year?YesYes
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
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?NoNoNo
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
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
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?NoNoNo
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?YesNoNo
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?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
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))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?YesYesYes
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
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
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$802,036,587$807,211,625$883,514,502
Net value of noncharitable-use assets$795,103,451$870,261,784
Minimum investment return$39,500,302$39,755,173$43,513,089
Distributable Amount
201120122013
Distributable amount$38,930,021$39,505,005$42,156,855
Undistributed Income
201120122013
Distributable amount for this year$38,930,021$39,505,005$42,156,855
Undistributed income for this year. This amount must be distributed in the next year$24,563,182$21,617,520$21,391,212
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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 2013)
Grants approved for future payment$12,350,773
Analysis of Income-Producing Activities (for 2013)
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$12,000,551$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$-236,356$0$-236,356
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$0
Income (loss) from partnerships and S corporations$-23,635,671$0$-236,356
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$0
Unrelated business taxable income before net operating loss deduction$0
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$0
Specific deduction$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1S&c Foundation225 N Michigan Ave Ste 2200, Chicago, IL 60601-7672IL1999-04$13,483,302
2Nora And Richard Lewis Family Foundation NfpPO BOX 409, Streamwood, IL 60107-0409IL2013-12$1,988,902
3Earl D Schoeffner Charitable Tr, Janet Christensen Ttee5735 S State Route 1, Saint Anne, IL 60964-5286IL2011-12$1,597,784
4Sudbury Charitable TrPO BOX 803878, Chicago, IL 60680-3878IL2008-05$1,379,598
5David And Lynne Weinberg Family Foundation401 N Michigan Ave Ste 3050, Chicago, IL 60611-5515IL2012-04$1,023,681
6Frank A Knaphurst Fam Tua Tr231 S Lasalle St, Chicago, IL 60697-0001IL2010-09$990,190
7Roslyn And Joseph Perlman Foundation430 Clavey Ln, Highland Park, IL 60035-4531IL2003-01$907,133
8Simmons Mesothelioma Foundation1 Court St, Alton, IL 62002-6267IL2010-02$855,712
9William Erby Smith Foundation, Smith William Erby Ttee111 W Monroe - 16w, Chicago, IL 60603-4096IL1999-08$711,861
10James Dyson Foundation North America600 W Chicago Ave Ste 275, Chicago, IL 60654-2813IL2012-01$473,535
11Samuel J Rosenwasser Irrev Char Trust 33-296386010 S Dearborn, Chicago, IL 60603-2300IL1999-04$441,939
12Tampico Foundation3106 N Campbell Ave, Chicago, IL 60618-7921IL2012-08$246,479
13Wintrop Foundation Tr Ua 10242007, John Robinson TteePO BOX 803878, Chicago, IL 60680-3878IL2008-01$193,327
14William H & Mary E Baker Charitable Tr2810 Frank Scott Pkwy W, Belleville, IL 62223-5007IL2003-03$148,534
15Assurance Caring Together Foundation1750 E Golf Road, Schaumburg, IL 60173-5835IL2012-01$134,065
16Seager Family FoundationPO BOX 803878, Chicago, IL 60680-3878IL1999-07$119,869
17Gitm Foundation1802 Wildwood Lane, Metamora, IL 61548IL2011-09$107,075
18Midland States Bank Foundation1201 Network Centre Dr, Effingham, IL 62401-4602IL2012-05$102,828
19The Fifth Foundation2 N Riverside Plz, Chicago, IL 60606-2600IL2001-05$97,370
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Number of organizations performing similar types of work
Alaska6
Alabama22
Arkansas13
Arizona41
California323
Colorado62
Connecticut59
District of Columbia21
Delaware45
Florida200
Georgia87
Hawaii13
Iowa26
Idaho13
Illinois148
Indiana53
Kansas20
Kentucky21
Louisiana20
Massachusetts108
Maryland62
Maine6
Michigan78
Minnesota56
Missouri38
Mississippi11
Montana12
North Carolina85
North Dakota3
Nebraska23
New Hampshire10
New Jersey139
New Mexico14
Nevada24
New York359
Ohio99
Oklahoma35
Oregon40
Pennsylvania119
Rhode Island21
South Carolina19
South Dakota6
Tennessee28
Texas190
Utah31
Virginia60
Vermont8
Washington67
Wisconsin52
West Virginia2
Wyoming10
International5
Total3,013

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