Lynn Home For Elderly Persons in Lynn, 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
- Other organizations in Massachusetts
| Lynn Home For Elderly Persons | |
| Employer Identification Number (EIN) | 042400070 |
| Name of Organization | Lynn Home For Elderly Persons |
| Address | 1 Atlantic Ter, Lynn, MA 01902-3116 |
| Activities | Housing for the aged (see also 153) |
| Subsection | Charitable Organization |
| Ruling Date | 07/1968 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Association |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 08/2014 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $29,310,636 |
| Amount of Income | $7,644,530 |
| Form 990 Revenue Amount | $1,645,201 |
Non-representatives - add comments:
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 | $1,645,201 | $1,084,281 | $1,315,649 | |
| Contributions, gifts, grants, etc., received | $68,801 | |||
| Interest on savings and temporary cash investments | $12 | |||
| Dividends and interest from securities | $823,518 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $492,119 | |||
| Other | $260,751 | |||
| Total expenses and disbursements | $1,866,402 | $108,469 | $108,468 | $1,670,389 |
| Compensation of officers, directors, trustees, etc. | $10,000 | |||
| Total operating and administrative expenses | $1,866,402 | $108,469 | $1,670,389 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $-221,201 | |||
| Net investment income | $975,812 | |||
| Adjusted net income | $1,207,181 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $25,897,208 | $25,897,208 |
| Cash - non-interest-bearing | $132,118 | |
| Investments-U.S. and state government obligations | $5,522,374 | |
| Investments-corporate stock | $16,791,805 | |
| Investments-corporate bonds | $1,757,377 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $1,693,534 | |
| Total liabilities | $920 | |
| Mortgages and other notes payable | $0 | |
| Other | $920 | |
| Total liabilities and net assets/fund balances | $25,896,288 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $260,751 |
| 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 | $9,758 |
| Total credits and payments | $15,000 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $15,000 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $0 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Overpayment | $5,242 |
| Amount to be credited to 2013 estimated tax | $5,242 |
| 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 | $24,694,664 |
| Net value of noncharitable-use assets | $24,324,240 |
| Minimum investment return | $1,216,212 |
| 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 | $1,207,181 | $1,240,264 | $1,144,444 | $1,059,660 | $4,651,549 |
| Qualifying distributions made directly for active conduct of exempt activities | $1,670,389 | $1,688,674 | $1,632,564 | $1,553,807 | $6,545,434 |
| 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 | $810,808 | $826,843 | $762,963 | $706,440 | $3,107,054 |
| 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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| Other organizations in Massachusetts | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Lynn C Goodchild Memorial Scholarship Fund | 59 Dewey Ave, Attleboro, MA 02703 | MA | 2001-11 | $12,285 |
| 2 | Boston North Cancer Association | PO BOX 3153, Peabody, MA 01961-3153 | MA | 1947-10 | $454,619 |
| 3 | Lynn City Mission Inc, Brookline Co-Op | 300 Western Ave, Lynn, MA 01904 | MA | 2006-11 | $0 |
| 4 | Lynn Community Access & Media Inc | 56 Central Ave Ste 312, Lynn, MA 01901-1112 | MA | 2006-07 | $507,945 |
| 5 | Lynn Community Elder Services Inc | 8 Silsbee St, Lynn, MA 01901-1404 | MA | 2000-07 | $2,455,888 |
| 6 | Lynn Community Health Inc | 23 Central Avenue, Lynn, MA 01901-1220 | MA | 1976-11 | $75,790,912 |
| 7 | Lynn Economic Opportunity Inc | 156 Broad Street, Lynn, MA 01901-1603 | MA | 1967-09 | $10,868,979 |
| 8 | Lynn English High School Scholarship Fund | 605 Broadway Lf41, Saugus, MA 01906-3200 | MA | $10,124 | |
| 9 | Lynn Hispanic Scholarship Fund Inc | PO BOX 8280, Lynn, MA 01904-0280 | MA | 1993-10 | $9,837 |
| 10 | Lynn Historical Society Inc | 590 Washington St, Lynn, MA 01901-1406 | MA | 1942-01 | $670,010 |
| 11 | Lynn Home For Elderly Persons | 1 Atlantic Ter, Lynn, MA 01902-3116 | MA | 1968-07 | $7,644,530 |
| 12 | Lynn Home For Young Women Inc | 144 Broad St, Lynn, MA 01901-1627 | MA | 1969-02 | $1,086,475 |
| 13 | Lynn Housing Authority Development Group Inc | 10 Church St, Lynn, MA 01902-4418 | MA | 2010-02 | $187,292 |
| 14 | Lynn Investing In Neighborhood Coalition Inc | 150-104 Lynnway, Lynn, MA 01902 | MA | 2001-05 | $0 |
| 15 | Lynn Italian Amricn Citizen Clb | 93 Harbor St # 95, Lynn, MA 01902-4447 | MA | 1992-08 | $87,565 |
| 16 | Lynn Municipal Employees Credit Union | 3 City Hall Sq Ste 104, Lynn, MA 01901-1028 | MA | 1941-10 | $120,869 |
| 17 | Lynn Police Credit Union | 30o Washington St, Lynn, MA 01902 | MA | 1944-06 | $557,488 |
| 18 | Lynn Rotary Club Inc J Fergus Gifford Shoe And Stocking Fund | C/O Arthur Horgan 8 Ramsey Road, Marblehead, MA 01945 | MA | 1942-09 | $0 |
| 19 | Lynn Shelter Association Inc | 100 Willow Street, Lynn, MA 01901-1139 | MA | 1986-03 | $2,556,529 |
| 20 | Lynn Teachers Credit Union | 181 Union Street Suite 206f, Lynn, MA 01901-1311 | MA | 1946-06 | $153,686 |
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