Massachusetts Bankers Association Charitable Foundation Inc in Boston, 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
| Massachusetts Bankers Association Charitable Foundation Inc | |
| Employer Identification Number (EIN) | 043325424 |
| Name of Organization | Massachusetts Bankers Association Charitable Foundation Inc |
| In Care of Name | Francesca Bertolino |
| Address | 1 Washington Mall Fl 8, Boston, MA 02108-2618 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 05/1997 |
| 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 | $500,000 to $999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,451,630 |
| Amount of Income | $507,780 |
| Form 990 Revenue Amount | $257,039 |
| National Taxonomy of Exempt Entities (NTEE) | Employment, Job-Related: |
Non-representatives - add comments:
Amount of income in 2013: $507,780 (it was $499,410 in 2012)
| This organization: | $507,780 |
| Other organizations performing similar types of work: | $100,445 |
Assets in 2013: $1,451,630 (it was $1,297,300 in 2012)
| Massachusetts Bankers Association Charitable Foundation Inc: | $1,451,630 |
| Other organizations performing similar types of work: | $556,840 |
Expenses in 2012: $191,929
| Massachusetts Bankers Association Charitable Foundation Inc: | $191,929 |
| Other organizations performing similar types of work: | $89,402 |
Income to expenses ratio in 2012: 2.6
| Massachusetts Bankers Association Charitable Foundation Inc: | 2.6 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 59.4%
| Massachusetts Bankers Association Charitable Foundation Inc: | 59.4% |
| Other organizations performing similar types of work: | 49.8% |
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 | $272,521 | $21,033 | $93,139 | |
| Contributions, gifts, grants, etc., received | $161,790 | |||
| Interest on savings and temporary cash investments | $1,698 | |||
| Dividends and interest from securities | $19,335 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $93,139 | |||
| Total expenses and disbursements | $191,929 | $0 | $48,731 | $143,198 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $60,429 | $0 | $11,698 | |
| Contributions, gifts, grants paid | $131,500 | |||
| Excess of revenue over expenses and disbursements | $80,592 | |||
| Net investment income | $21,033 | |||
| Adjusted net income | $44,408 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,297,300 | $1,297,300 |
| Cash - non-interest-bearing | $97,484 | |
| Investments-U.S. and state government obligations | $30,464 | |
| Investments-corporate stock | $434,700 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $734,652 | |
| Total liabilities | $15,684 | |
| Mortgages and other notes payable | $0 | |
| Other | $15,684 | |
| Total liabilities and net assets/fund balances | $1,281,616 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-3,441 |
| 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 | $421 |
| Total credits and payments | $915 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $915 |
| 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 |
| Tax due | $0 |
| Overpayment | $494 |
| Amount to be credited to 2013 estimated tax | $494 |
| 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 | $1,237,875 |
| Net value of noncharitable-use assets | $1,219,300 |
| Minimum investment return | $60,965 |
| Distributable Amount (for 2012) | |
| Distributable amount | $60,544 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $60,544 |
| 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 | R S Evans Foundation Inc | PO BOX 1297, New York, NY 10008-1297 | NY | 1997-11 | $9,319,607 |
| 2 | Sherit Isroel Inc | 3 Sophia St, Monsey, NY 10952-2010 | NY | 1997-12 | $3,515,160 |
| 3 | Partnership For Excellence In Jewish Education Inc | 88 Broad St Fl 6, Boston, MA 02110-3407 | MA | 1997-09 | $2,874,913 |
| 4 | William J & Barbara A Schmidt Family Foundation Inc | 4455 W Lawrence St, Appleton, WI 54914-4065 | WI | 1997-09 | $1,668,845 |
| 5 | The Jack Jennings Foundation, Mcginnis Craig S & Bonnie S Ttee | 9910 Cumberland Rd, Fishers, IN 46037-9216 | IN | 1996-07 | $1,191,256 |
| 6 | Childrens Rehabilitation Center | 885 Howland Wilson Rd Ne, Howland, OH 44484-2115 | OH | 1985-08 | $1,118,848 |
| 7 | Mineral Springs Center Inc | PO BOX 28, Blue Ridge, GA 30513-0001 | GA | 1985-10 | $562,186 |
| 8 | Bella Womens Center | 1192 North Rd Ne, Warren, OH 44483-4521 | OH | 1991-10 | $533,217 |
| 9 | Massachusetts Bankers Association Charitable Foundation Inc | 1 Washington Mall Fl 8, Boston, MA 02108-2618 | MA | 1997-05 | $507,780 |
| 10 | Victor And Monica Markowicz Charitable Trust | C/O Martin B Jaffe 124 East 55th St, New York, NY 10022 | NY | 1997-07 | $274,693 |
| 11 | Allison United Foundation For Better Living Inc | 4540 W Washington Blvd, Chicago, IL 60624-2242 | IL | 1993-05 | $111,032 |
| 12 | International Association Of Machinists & Aerospace Workers, 1186 | 3556 Lexington Ave, El Monte, CA 91731-2608 | CA | 1940-12 | $100,445 |
| 13 | East Islip Student Athletes Booster Club Inc | PO BOX 398, East Islip, NY 11730-0398 | NY | 1997-05 | $77,316 |
| 14 | Workbound Inc | PO BOX 386, Sheboygan, WI 53082-0386 | WI | 1993-01 | $33,985 |
| 15 | The Cyberhood Foundation | 5819 Germantown Ave Ste 202, Philadelphia, PA 19144 | PA | 1997-12 | $10,582 |
| 16 | Fresh Start Foundationinc C/O M Clancy | 4717 W Imperial Hwy, Hawthorne, CA 90304-2610 | CA | 1996-08 | $0 |
| 17 | Friends Of The Farm Inc | Po Box 1454, Nothampton, MA 01061 | MA | 1997-07 | $0 |
| 18 | Friends Of The Plainville Public Library Inc | 56 E Main St, Plainville, CT 06062 | CT | 1996-12 | $0 |
| 19 | Opportunity Closet Inc | 250 Tamiami Trl S Ste 201, Venice, FL 34285-2454 | FL | 1997-12 | $0 |
| 20 | Westford Networks For Education And Technology Inc | Po Box 113, Westford, MA 01886 | MA | 1997-01 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||
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| Total | 29 | ||||||||||||||||||||||||||||||||
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