Thomas S Gunning Scholarship Foundation in Braintree, Massachusetts (MA)

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Thomas S Gunning Scholarship Foundation
Employer Identification Number (EIN)043464855
Name of OrganizationThomas S Gunning Scholarship Foundation
Address100 Grossman Drive, Braintree, MA 02184-4949
SubsectionCharitable Organization, Educational Organization
Ruling Date10/2001
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 - 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

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Amount of income in 2013: $156,600 (it was $29,257 in 2012)
Thomas S Gunning Scholarship Foundation: 

Other organizations performing similar types of work: 


Assets in 2013: $150,059 (it was $113,752 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2012: $88,837
This organization: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2012: 1.8
Thomas S Gunning Scholarship Foundation: 

Other organizations performing similar types of work: 


Grants share in income in 2012: 92.6%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements 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 ValueFair 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
Total liabilities$1
Mortgages and other notes payable$0
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
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)
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
IdNameAddressStateEstablishedTotal Income
1Massachusetts Higher Education Assistance Corporation, American Student Assistance100 Cambridge St Ste 1600, Boston, MA 02114-2518MA1958-12$369,954,484
2Catholic Schools Foundation Inc260 Franklin Street, Boston, MA 02110-3112MA1984-10$38,958,037
3Boston Latin School Association27 School St Ste 300, Boston, MA 02108-4303MA1960-09$19,615,462
4Francis Ouimet Scholarship Fund Inc300 Arnold Palmer Blvd, Norton, MA 02766-1365MA1953-11$14,154,453
5Worcester State Foundation Inc486 Chandler St, Worcester, MA 01602-2861MA1993-12$3,352,666
6W W Wannamaker Citadel Star Of The West MaPO BOX 2904, Wilson, NC 27894-2904NC1953-02$2,852,405
7Wellesley Students Aid Society Inc106 Central Street, Wellesley, MA 02481-8203MA1941-02$2,698,625
8Robert Ahern Scholarship TrustWOBURN FOREIGN MOTORS PO BOX 2217, Woburn, MA 01888MA1985-08$1,379,381
9Theta Delta Chi Educational Foundation Inc214 Lewis Wharf, Boston, MA 02110-3927MA1990-01$1,046,380
10Teri Financial Services Inc31 Saint James Avenue, Boston, MA 02116-4101MA1995-10$90,064
11Top Ladies Of Distinction Inc, Parent2914 Southmore Blvd, Houston, TX 77004-7710TX1974-11$557,438
12Demolay Foundation Of Massachusetts186 Tremont St, Boston, MA 02111-1014MA1969-05$369,142
13Veterinary Scholarship Trust Of New EnglandPO BOX 3221, N Attleboro, MA 02761-3221MA1961-10$336,835
14South Dakota Farmers Union Foundation1410 Dakota Ave S, Huron, SD 57350-3661SD2001-10$291,539
15Phoenix Preparatory High Schools Inc, Chabad Tuition Organization2110 E Lincoln Drive, Phoenix, AZ 85016AZ1999-06$250,496
16Spanish American InstitutePO BOX 92943, Long Beach, CA 90809-2943CA1926-09$207,483
17The Carol Martin Gruodis Memorial Education FundC/O Mps Llp - 685 Third Ave, New York, NY 10017NY2002-05$201,819
18Thomas S Gunning Scholarship Foundation100 Grossman Drive, Braintree, MA 02184-4949MA2001-10$156,600
19The Michael P Quinn Scholarship Fund IncPO BOX 290216, Charlestown, MA 02129-0204MA2001-03$45,712
20Child Educational Organization Inc1 Mckinley Sq, Boston, MA 02109-2603MA2002-05$0
Number of organizations performing similar types of work
District of Columbia7
North Carolina16
North Dakota2
New Hampshire2
New Jersey12
New Mexico1
New York16
Rhode Island1
South Carolina5
South Dakota2
Total469 is not associated with, endorsed by, or sponsored by Thomas S Gunning Scholarship Foundation and has no official or unofficial affiliation with Thomas S Gunning Scholarship Foundation