Thomas S Gunning Scholarship Foundation in Braintree, 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
| Thomas S Gunning Scholarship Foundation | |
| Employer Identification Number (EIN) | 043464855 |
| Name of Organization | Thomas S Gunning Scholarship Foundation |
| Address | 100 Grossman Drive, Braintree, MA 02184-4949 |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 10/2001 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $150,059 |
| Amount of Income | $156,600 |
| Form 990 Revenue Amount | $100,068 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2013: $156,600 (it was $29,257 in 2012)
| Thomas S Gunning Scholarship Foundation: | $156,600 |
| Other organizations performing similar types of work: | $299,534 |
Assets in 2013: $150,059 (it was $113,752 in 2012)
| This organization: | $150,059 |
| Other organizations performing similar types of work: | $1,135,383 |
Expenses in 2012: $88,837
| This organization: | $88,837 |
| Other organizations performing similar types of work: | $135,405 |
Income to expenses ratio in 2012: 1.8
| Thomas S Gunning Scholarship Foundation: | 1.8 |
| Other organizations performing similar types of work: | 1.8 |
Grants share in income in 2012: 92.6%
| This organization: | 92.6% |
| Other organizations performing similar types of work: | 74.1% |
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 | $29,257 | $2,157 | $2,157 | |
| Contributions, gifts, grants, etc., received | $27,100 | |||
| Interest on savings and temporary cash investments | $2,157 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $88,837 | $0 | $0 | $87,000 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $1,837 | $0 | $0 | |
| Contributions, gifts, grants paid | $87,000 | |||
| Excess of revenue over expenses and disbursements | $-59,580 | |||
| Net investment income | $2,157 | |||
| Adjusted net income | $2,157 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $113,752 | $113,752 |
| Cash - non-interest-bearing | $13,074 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $100,678 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $113,752 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| 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 | $43 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $43 |
| 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 | $0 |
| Net value of noncharitable-use assets | $0 |
| Minimum investment return | $0 |
| 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 | $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 | Massachusetts Higher Education Assistance Corporation, American Student Assistance | 100 Cambridge St Ste 1600, Boston, MA 02114-2518 | MA | 1958-12 | $369,954,484 |
| 2 | Catholic Schools Foundation Inc | 260 Franklin Street, Boston, MA 02110-3112 | MA | 1984-10 | $38,958,037 |
| 3 | Boston Latin School Association | 27 School St Ste 300, Boston, MA 02108-4303 | MA | 1960-09 | $19,615,462 |
| 4 | Francis Ouimet Scholarship Fund Inc | 300 Arnold Palmer Blvd, Norton, MA 02766-1365 | MA | 1953-11 | $14,154,453 |
| 5 | Worcester State Foundation Inc | 486 Chandler St, Worcester, MA 01602-2861 | MA | 1993-12 | $3,352,666 |
| 6 | W W Wannamaker Citadel Star Of The West Ma | PO BOX 2904, Wilson, NC 27894-2904 | NC | 1953-02 | $2,852,405 |
| 7 | Wellesley Students Aid Society Inc | 106 Central Street, Wellesley, MA 02481-8203 | MA | 1941-02 | $2,698,625 |
| 8 | Robert Ahern Scholarship Trust | WOBURN FOREIGN MOTORS PO BOX 2217, Woburn, MA 01888 | MA | 1985-08 | $1,379,381 |
| 9 | Theta Delta Chi Educational Foundation Inc | 214 Lewis Wharf, Boston, MA 02110-3927 | MA | 1990-01 | $1,046,380 |
| 10 | Teri Financial Services Inc | 31 Saint James Avenue, Boston, MA 02116-4101 | MA | 1995-10 | $90,064 |
| 11 | Top Ladies Of Distinction Inc, Parent | 2914 Southmore Blvd, Houston, TX 77004-7710 | TX | 1974-11 | $557,438 |
| 12 | Demolay Foundation Of Massachusetts | 186 Tremont St, Boston, MA 02111-1014 | MA | 1969-05 | $369,142 |
| 13 | Veterinary Scholarship Trust Of New England | PO BOX 3221, N Attleboro, MA 02761-3221 | MA | 1961-10 | $336,835 |
| 14 | South Dakota Farmers Union Foundation | 1410 Dakota Ave S, Huron, SD 57350-3661 | SD | 2001-10 | $291,539 |
| 15 | Phoenix Preparatory High Schools Inc, Chabad Tuition Organization | 2110 E Lincoln Drive, Phoenix, AZ 85016 | AZ | 1999-06 | $250,496 |
| 16 | Spanish American Institute | PO BOX 92943, Long Beach, CA 90809-2943 | CA | 1926-09 | $207,483 |
| 17 | The Carol Martin Gruodis Memorial Education Fund | C/O Mps Llp - 685 Third Ave, New York, NY 10017 | NY | 2002-05 | $201,819 |
| 18 | Thomas S Gunning Scholarship Foundation | 100 Grossman Drive, Braintree, MA 02184-4949 | MA | 2001-10 | $156,600 |
| 19 | The Michael P Quinn Scholarship Fund Inc | PO BOX 290216, Charlestown, MA 02129-0204 | MA | 2001-03 | $45,712 |
| 20 | Child Educational Organization Inc | 1 Mckinley Sq, Boston, MA 02109-2603 | MA | 2002-05 | $0 |
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