Polaris Foundation Inc in Great Falls, Virginia (VA)
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
| Polaris Foundation Inc | |
| Employer Identification Number (EIN) | 260770892 |
| Name of Organization | Polaris Foundation Inc |
| In Care of Name | Hamed Omar |
| Address | 811 Sherlin Ln, Great Falls, VA 22066-1354 |
| Subsection | Charitable Organization |
| Ruling Date | 10/2009 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $129,972 |
| Amount of Income | $438,492 |
| Form 990 Revenue Amount | $311,022 |
| National Taxonomy of Exempt Entities (NTEE) | Human Services - Multipurpose and Other: Personal Social Services |
Non-representatives - add comments:
Amount of income in 2013: $438,492 (it was $174,035 in 2012)
| This organization: | $438,492 |
| Other organizations performing similar types of work: | $67,142 |
Assets in 2013: $129,972 (it was $243,033 in 2012)
| This organization: | $129,972 |
| Other organizations performing similar types of work: | $21,673 |
Expenses in 2012: $184,793
| This organization: | $184,793 |
| Other organizations performing similar types of work: | $59,628 |
Income to expenses ratio in 2012: 2.4
| This organization: | 2.4 |
| Other organizations performing similar types of work: | 0.8 |
Grants share in income in 2012: 37.4%
| Polaris Foundation Inc: | 37.4% |
| Other organizations performing similar types of work: | 86.5% |
Revenue 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 | $160,335 | $12,910 | $89,848 | |
| Contributions, gifts, grants, etc., received | $59,973 | |||
| 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 | $89,848 | |||
| Other | $10,514 | |||
| Total expenses and disbursements | $184,793 | $0 | $89,848 | $71,475 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $184,793 | $0 | $71,475 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $-24,458 | |||
| Net investment income | $12,910 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $243,033 | $243,033 |
| Cash - non-interest-bearing | $9,942 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $233,091 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $243,033 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $10,514 |
| 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 | $258 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $258 |
| 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? | Yes |
| 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 | $257,038 |
| Net value of noncharitable-use assets | $253,180 |
| Minimum investment return | $12,659 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| 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 | $12,659 | $3,206 | $0 | $0 | $15,865 |
| Qualifying distributions made directly for active conduct of exempt activities | $71,475 | $90,880 | $101,742 | $34,445 | $298,542 |
| Value of all assets | $243,033 | $0 | $76,667 | $62,250 | $381,950 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $8,092 | $0 | $66 | $216 | $8,374 |
| 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 | Able Forces Inc | 115 Chester Street Suite B, Front Royal, VA 22630 | VA | 2010-04 | $866,467 |
| 2 | Common Ground Healing Arts | Po Box 157, Batesvillle, VA 22924 | VA | 2010-11 | $441,486 |
| 3 | Polaris Foundation Inc | 811 Sherlin Ln, Great Falls, VA 22066-1354 | VA | 2009-10 | $438,492 |
| 4 | Three Doors | 554 Drumheller Ln, Shipman, VA 22971-2251 | VA | 2013-06 | $429,109 |
| 5 | Quality Of Life Foundation Inc, Wounded Veteran Families | 2750 Killarney Dr Ste 100, Woodbridge, VA 22192-4124 | VA | 2008-08 | $312,105 |
| 6 | Northern Virginia Meditation | 5659 Columbia Pike Ste 200, Falls Church, VA 22041-2879 | VA | 2007-01 | $144,536 |
| 7 | Shiloh Community Services Corporation | 100 Jolly Roger Cove, Stafford, VA 22554 | VA | 2014-09 | $143,610 |
| 8 | Fields Of The Fatherless | 5164 N Blue Ridge Tpk, Madison, VA 22727 | VA | 2008-09 | $96,475 |
| 9 | Responsibly Expressing Attitudes And Changing Horizons Inc, Reach | 1445 Norview Ave, Norfolk, VA 23513-1552 | VA | 2002-02 | $85,116 |
| 10 | Rotary Club Of Scott County Virginia | PO BOX 728, Gate City, VA 24251-0728 | VA | 2010-07 | $78,339 |
| 11 | Project Yoga Richmond Inc | 6517 Dickens Pl, Richmond, VA 23230-2001 | VA | 2012-01 | $78,307 |
| 12 | Shenandoah Valley Cbin Association Inc, Svcc | PO BOX 304, Edinburg, VA 22824-0304 | VA | 2014-08 | $75,828 |
| 13 | Thrift For Life | 1118 Westbriar Drive, Richmond, VA 23238 | VA | 2008-11 | $44,032 |
| 14 | Women Of Color Alliance Inc | 5445 Wesleyan Dr Ste 518, Virginia Bch, VA 23455-6944 | VA | 1999-04 | $6,898 |
| 15 | Amelia Community Outreach | PO BOX 364, Amelia Ct Hse, VA 23002-0364 | VA | 2007-03 | $3,942 |
| 16 | Northern Virginia Taxpayer Resource Center Inc | 8859 Sudley Rd Ste 101, Manassas, VA 20110-4745 | VA | 2012-02 | $3,000 |
| 17 | Self Protection Awareness Spa | 301 Tower Ln, Newport News, VA 23608-1859 | VA | 2003-10 | $1,325 |
| 18 | Unity In The Community Inc | PO BOX 4292, Manassas, VA 20108-0728 | VA | 2003-10 | $675 |
| 19 | Kingdom Conquering Ministries | 1516 Trailing Ridge Rd, Henrico, VA 23231-5244 | VA | 2011-04 | $366 |
| 20 | A Simple Wish Inc | 6500 Iron Bridge Rd, N Chesterfld, VA 23234-5206 | VA | 2014-09 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,403 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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