Ghost Lake Corporation in Stilwell, Kansas (KS)

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Ghost Lake Corporation
Employer Identification Number (EIN)454196318
Name of OrganizationGhost Lake Corporation
In Care of NameCindy Adams
Address6500 W 194th St, Stilwell, KS 66085-9401
SubsectionCharitable Organization, Scientific Organization
Ruling Date09/2014
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$6,041,665
Amount of Income$4,289,873
Form 990 Revenue Amount$4,289,873
National Taxonomy of Exempt Entities (NTEE)Environmental Quality, Protection and Beautification: Natural Resources Conservation and Protection


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Amount of income in 2013: $4,289,873
Ghost Lake Corporation: 

 $4,289,873
Other organizations performing similar types of work: 

 $69,982

Assets in 2013: $6,041,665
Ghost Lake Corporation: 

 $6,041,665
Other organizations performing similar types of work: 

 $61,304

Expenses in 2013: $138,324
This organization: 

 $138,324
Other organizations performing similar types of work: 

 $56,949

Income to expenses ratio in 2013: 31.0
This organization: 

 31.0
Other organizations performing similar types of work: 

 0.8

Grants share in income in 2013: 96.7%
This organization: 

 96.7%
Other organizations performing similar types of work: 

 47.9%

Financial snapshot for 2013 ($)

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$4,289,873$609$141,115
Contributions, gifts, grants, etc., received$4,148,758
Interest on savings and temporary cash investments$609
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$140,506
Total expenses and disbursements$138,324$0$138,324$0
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$34,754
Accounting fees$920
Interest$30,291
Depreciation$12,556
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$138,324$0$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$4,151,549
Net investment income$609
Adjusted net income$2,791
Balance Sheets
2013
Book ValueFair Market Value
Total assets$6,041,665$5,602,699
Cash - non-interest-bearing$35,429
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other assets$0
Total liabilities$504,417
Mortgages and other notes payable$498,914
Other liabilities$0
Total liabilities and net assets/fund balances$5,537,248
Capital Gains and Losses for Tax on Investment Income
2013
Capital gain net income$0
Net capital loss$0
Excise Tax Based on Investment Income
2013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$6
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$6
Overpayment$0
Amount to be credited to next year's estimated tax$0
Statements Regarding Activities
2013
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
Has the foundation engaged in any activities that have not previously been reported to the IRS?No
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?No
Has the foundation filed a tax return on Form 990-T for this year?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?No
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?Yes
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?Yes
Did any persons become substantial contributors during the tax year?Yes
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?No
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?Yes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041No
Statements Regarding Activities for Which Form 4720 May Be Required
2013
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
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?No
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?No
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?No
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?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 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?No
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?No
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?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
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?No
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
Minimum Investment Return
2013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$281,790
Net value of noncharitable-use assets$277,563
Minimum investment return$13,878
Distributable Amount
2013
Distributable amount$0
Undistributed Income
2013
Distributable amount for this year$0
Undistributed income for this year. This amount must be distributed in the next year$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$2,791$1,232$0$0$4,023
Qualifying distributions made directly for active conduct of exempt activities$916,432$1,286,553$0$0$2,202,985
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$9,252$19,694$0$0$28,946
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$0
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$609$0
Dividends and interest from securities$0$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
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Whiterock Conservancy1390 Highway 141, Coon Rapids, IA 50058-8052IA2006-10$2,386,420
2Badger Creek Corporation6500 W 194th St, Stilwell, KS 66085-9401KS2006-09$7,993,377
3Ghost Lake Corporation6500 W 194th St, Stilwell, KS 66085-9401KS2014-09$4,289,873
4Kansas Alliance For Wetlands And Streams Inc1228 Westloop Pl Pmb 234, Manhattan, KS 66502-2840KS2004-08$577,297
5Tallgrass Legacy Alliance Inc868 Road 290, Americus, KS 66835-9536KS2002-08$12,022
6Smoky Hills Resource Conservation And Development Area IncPO BOX 216, Natoma, KS 67651-0216KS2005-03$3,660
7Sustainability Action Network IncPo Box 1064, Lawrence, KS 66044KS2010-10$2,727
8Carroll Cave Conservancy IncPo Box 3634, Lawrence, KS 66046-0634KS2014-10$665
9Arkansas River Coalition IncorporatedPo Box 3056, Wichita, KS 67201KS1999-08$0
10Concerned Citizens For Clean Air And Water In Meade County Inc2127 18 Road, Meade, KS 67864KS2000-02$0
11Friends Of Arkalon Park Inc400 N Washington, Liberal, KS 67901KS2014-06$0
12Heart Of America Flyfishers IncPo Box 731, Shawnee Mission, KS 66201KS2004-08$0
13Kansas Crossroads Resource Conservation Development Area IncPo Box 501, Clay Center, KS 67432KS2005-09$0
14Kansas Kids Hunt28265 Overbrook, Paola, KS 66071KS2010-08$0
15Lakeview Conservation Alliance1862 E 1125 Road, Lawrence, KS 66049KS2012-06$0
16Mo-Ark River Defense Fund8307 Acuff Lane, Lenexa, KS 66106KS2004-11$0
17Prairie Preservation Organization201 1/2 East 8th, Junction City, KS 66441KS2004-06$0
18Protect The Flint Hills Inc5694 Nw 50th, Eldorado, KS 67042KS2012-02$0
19Sperry-Galligar Audubon SocietyP O Box 205, Pittsburg, KS 66762KS2000-01$0
20State Assn Of Kansas Resource Conservation & Develop Councils InPO BOX 325, Smith Center, KS 66967KS2003-01$0
Number of organizations performing similar types of work
Alaska43
Alabama79
Arkansas23
Arizona69
California461
Colorado109
Connecticut53
District of Columbia46
Delaware12
Florida160
Georgia63
Hawaii59
Iowa62
Idaho39
Illinois90
Indiana52
Kansas23
Kentucky44
Louisiana25
Massachusetts91
Maryland79
Maine52
Michigan94
Minnesota92
Missouri46
Mississippi10
Montana53
North Carolina81
North Dakota7
Nebraska12
New Hampshire27
New Jersey65
New Mexico38
Nevada40
New York192
Ohio80
Oklahoma28
Oregon114
Pennsylvania123
Rhode Island20
South Carolina23
South Dakota11
Tennessee55
Texas141
Utah41
Virginia81
Vermont39
Washington138
Wisconsin129
West Virginia25
Wyoming23
International32
Total3,594

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