Admiral Sir Isaac Coffins Lacasterian School in Nantucket, Massachusetts (MA)
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
| Admiral Sir Isaac Coffins Lacasterian School | |
| Employer Identification Number (EIN) | 042167469 |
| Name of Organization | Admiral Sir Isaac Coffins Lacasterian School |
| In Care of Name | Jean Hughes |
| Address | PO BOX 1225, Nantucket, MA 02554-1225 |
| Activities | Private school, School, college, trade school, etc. |
| Subsection | Charitable Organization |
| Ruling Date | 04/1938 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,636,912 |
| Amount of Income | $1,563,781 |
| Form 990 Revenue Amount | $67,872 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Arts Education |
Non-representatives - add comments:
Amount of income in 2013: $1,563,781 (it was $57,832 in 2012)
| This organization: | $1,563,781 |
| Other organizations performing similar types of work: | $337,726 |
Assets in 2013: $1,636,912 (it was $1,494,538 in 2012)
| Admiral Sir Isaac Coffins Lacasterian School: | $1,636,912 |
| Other organizations performing similar types of work: | $377,423 |
Expenses in 2012: $106,233
| This organization: | $106,233 |
| Other organizations performing similar types of work: | $315,747 |
Income to expenses ratio in 2012: 14.7
| This organization: | 14.7 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2012: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 22.2% |
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 | $57,832 | $57,832 | $29,458 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $14,394 | |||
| Dividends and interest from securities | $15,064 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $28,374 | |||
| Total expenses and disbursements | $106,233 | $18,256 | $0 | $57,657 |
| Compensation of officers, directors, trustees, etc. | $1,500 | |||
| Total operating and administrative expenses | $65,233 | $18,256 | $16,657 | |
| Contributions, gifts, grants paid | $41,000 | |||
| Excess of revenue over expenses and disbursements | $-48,401 | |||
| Net investment income | $39,576 | |||
| Adjusted net income | $29,458 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,494,538 | $3,522,912 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $1,043,607 | |
| Other | $450,931 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,494,538 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $28,374 |
| 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 | $792 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $9 |
| Tax due | $801 |
| 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? | 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? | 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 | $1,100,954 |
| Net value of noncharitable-use assets | $1,084,440 |
| Minimum investment return | $54,222 |
| Distributable Amount (for 2012) | |
| Distributable amount | $53,430 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $53,430 |
| 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 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | The Arts Connection Inc | 520 8th Ave Rm 321, New York, NY 10018-8906 | NY | 1980-06 | $3,717,844 |
| 2 | Artists Association Of Nantucket | PO BOX 1104, Nantucket, MA 02554-1104 | MA | 1952-01 | $3,552,927 |
| 3 | Wayne Art Center | 413 Maplewood Ave, Wayne, PA 19087-4702 | PA | 1955-10 | $1,718,088 |
| 4 | South Shore Arts Inc | 1040 Ridge Road, Munster, IN 46321-1876 | IN | 1970-10 | $1,585,190 |
| 5 | Admiral Sir Isaac Coffins Lacasterian School | PO BOX 1225, Nantucket, MA 02554-1225 | MA | 1938-04 | $1,563,781 |
| 6 | Scottsdale Artists School Inc | 3720 N Marshall Way, Scottsdale, AZ 85251-5559 | AZ | 1983-11 | $1,411,908 |
| 7 | Yocum Institute For Arts Education Inc | 1100 Belmont Ave, Wyomissing, PA 19610-2004 | PA | 1941-09 | $956,896 |
| 8 | The Art Center Highland Park | 1957 Sheridan Rd, Highland Park, IL 60035-2540 | IL | 1964-10 | $951,645 |
| 9 | Truro Center For The Arts At Castle Hill Inc | PO BOX 756, Truro, MA 02666-0756 | MA | 1973-05 | $701,112 |
| 10 | South Shore Art Center Inc | 119 Ripley Rd, Cohasset, MA 02025-1744 | MA | 1961-06 | $635,360 |
| 11 | Woodstock School Of Art Inc | PO BOX 338, Woodstock, NY 12498-0338 | NY | $570,624 | |
| 12 | Rockport Art Association | 12 Main St, Rockport, MA 01966-1513 | MA | 1957-12 | $518,815 |
| 13 | Falmouth Artists Guild Inc | PO BOX 660, Falmouth, MA 02541-0660 | MA | 1972-09 | $499,569 |
| 14 | Pump House Regional Arts Center | 119 King St, La Crosse, WI 54601-4030 | WI | 1975-12 | $411,742 |
| 15 | Creative Arts Center In Chatham Inc | 154 Crowell Road, Chatham, MA 02633-2800 | MA | 1975-05 | $372,266 |
| 16 | Brookline Arts Center Inc | 86 Monmouth St, Brookline, MA 02446-5607 | MA | 1968-12 | $365,481 |
| 17 | Space One Eleven Inc | 2409 2nd Ave N, Birmingham, AL 35203-3809 | AL | 1989-11 | $313,666 |
| 18 | Professional Arts Consortium Inc | 1140 Boylston St, Boston, MA 02215-3631 | MA | 1985-03 | $201,408 |
| 19 | Arts Wayland Foundation Inc | PO BOX 272, Wayland, MA 01778-0272 | MA | 1981-03 | $905 |
| 20 | Arts Lexington Inc | 10 Choate Rd, Belmont, MA 02478-3716 | MA | 1985-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 122 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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