Gloucester Fund Inc in Gloucester, Massachusetts (MA)

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Gloucester Fund Inc
Employer Identification Number (EIN)043521016
Name of OrganizationGloucester Fund Inc
In Care of NameBarrett S Pett
Address45 Middle Street No 2, Gloucester, MA 01930-5736
SubsectionCharitable Organization
Ruling Date11/2001
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$58,489
Amount of Income$178,417
Form 990 Revenue Amount$166,000
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Fund Raising and/or Fund Distribution


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Amount of income in 2013: $178,417 (it was $256,464 in 2012)
Gloucester Fund Inc: 

 $178,417
Other organizations performing similar types of work: 

 $68,020

Assets in 2013: $58,489 (it was $142,029 in 2012)
This organization: 

 $58,489
Other organizations performing similar types of work: 

 $43,397

Expenses in 2013: $249,540
Gloucester Fund Inc: 

 $249,540
Other organizations performing similar types of work: 

 $44,919

Income to expenses ratio in 2013: 0.7
Gloucester Fund Inc: 

 0.7
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2013: 74.8%
This organization: 

 74.8%
Other organizations performing similar types of work: 

 36.7%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2010201120122013
Total revenue$86,355$94,647$166,000
Contributions, gifts, grants, and similar amounts received$86,212$91,080$124,195
Program service revenue including government fees and contracts$0$0$1,170
Membership dues and assessments$0$0$0
Investment income$143$102$83
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$3,465$9,572$40,552
Gross income from gaming$0$0$0$0
Gross income from fundraising events$0$5,065$52,969
Less: direct expenses from gaming and fundraising events$0$1,600$12,417
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$90,638$53,153$249,540
Total net assets$31,628$73,122$58,489
Excess/Deficit for the year$-4,283$41,494$-83,540
Net assets or fund balances at beginning of year$35,911$31,628$142,029
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$58,489
Balance Sheets
2010201120122013
Total assets$31,628$73,122$142,029$58,489
Total liabilities$0$0$0$0
Net assets or fund balances$31,628$73,122$58,489
Other Information
2010201120122013
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$589,674
Subtotal Support$680,772
Gifts, grants, contributions, and membership fees received$680,772
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$91,098
Total Support$681,692
Public Support$680,772
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$920
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$77,051
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Warren County Foundation Depository118 E Main St, Lebanon, OH 45036-2228OH1999-03$1,416,407
2Anne Capano Charitable Foundation For Giving Inc634 West Main Street, Norwich, CT 06360CT2010-01$683,061
3Woodward Dream Cruise Inc900 Wilshire Dr Ste 102, Troy, MI 48084-1600MI2009-09$663,902
4Swift Charities For ChildrenPO BOX 29243, Phoenix, AZ 85038-9243AZ2005-06$655,963
5Richard J Jones Annuitants Assistance Fund, Rjj Widows And Orphans Fund221 N Lasalle Ste 1626, Chicago, IL 60601-1404IL2010-12$531,749
6The Martinez FoundationPO BOX 50270, Bellevue, WA 98015-0270WA2008-09$474,334
7Ben And Sally Lewensohn Foundation1215 W Baltimore Pike, Media, PA 19063-5540PA2005-03$461,053
8Boston Police Foundation Inc11 Arlington St, Boston, MA 02116-3406MA1994-03$383,395
9Community Connections Foundation Inc, Bostonian Group Charitable Foundati500 Boylston St Ste 300, Boston, MA 02116-3791MA2007-09$349,212
10Texas Elks Benevolent Corporation3121 Palo Duro Dr, San Angelo, TX 76904-7434TX2000-07$313,634
11Floridas Natural Growers Foundation Inc20205 N Us Hwy 27, Lake Wales, FL 33853FL2009-01$277,046
12Gloucester Fund Inc45 Middle Street No 2, Gloucester, MA 01930-5736MA2001-11$178,417
13Hanscom Fcu Charitable Foundation Inc1610 Elgin Street, Hanscom Afb, MA 01731MA2012-05$93,261
14Billerica Firefighters Association8 Good St, Billerica, MA 01821-1807MA2000-10$78,087
15Worthy Causes Inc10 Newton Street 3, Cambridge, MA 02139MA2007-03$55,534
16Bedford Rotary Foundation IncPO BOX 414, Bedford, MA 01730-0414MA1999-03$35,661
17South Shore Chamber Of Commerce Foundation Inc1050 Hingham Street, Rockland, MA 02370-1076MA1999-07$7,500
18Melissa Rose Kradin Foundation Inc11 Springdale Ave, Canton, MA 02021-3224MA2001-10$1,488
19Buonato Foundation Corporation12 Clock Tower Pl Ste 200, Maynard, MA 01754-2597MA2002-04$250
20Galluccio Associates Incorporated86 Buckingham St, Cambridge, MA 02138MA1999-09$0
Number of organizations performing similar types of work
Alaska1
Alabama2
Arkansas1
Arizona6
California21
Colorado8
Connecticut4
District of Columbia3
Florida19
Georgia8
Hawaii2
Iowa1
Illinois8
Indiana1
Kansas1
Kentucky2
Louisiana1
Massachusetts11
Maryland4
Maine1
Michigan6
Minnesota2
Missouri6
Mississippi3
North Carolina6
North Dakota1
Nebraska1
New Hampshire2
New Jersey8
Nevada1
New York16
Ohio12
Oklahoma3
Oregon3
Pennsylvania8
Rhode Island2
South Carolina2
Tennessee3
Texas11
Utah2
Virginia5
Vermont1
Washington12
Wisconsin4
International2
Total227

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