Profit Charitable Foundation Inc in Bethesda, Maryland (MD)

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Profit Charitable Foundation Inc
Employer Identification Number (EIN)455322446
Name of OrganizationProfit Charitable Foundation Inc
In Care of NameEugene Profit
Address7500 Old Georgetown Road, Bethesda, MD 20814-6133
SubsectionCharitable Organization
Ruling Date04/2013
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 Period12/2014
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$17,069
Amount of Income$45,060
Form 990 Revenue Amount$15,614
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations


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Amount of income in 2014: $45,060 (it was $22,133 in 2013)
Profit Charitable Foundation Inc: 

 $45,060
Other organizations performing similar types of work: 

 $71,328

Assets in 2014: $17,069 (it was $22,592 in 2013)
Profit Charitable Foundation Inc: 

 $17,069
Other organizations performing similar types of work: 

 $50,799

Expenses in 2013: $69,102
Profit Charitable Foundation Inc: 

 $69,102
Other organizations performing similar types of work: 

 $47,311

Income to expenses ratio in 2013: 0.7
Profit Charitable Foundation Inc: 

 0.7
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 15.8%
Profit Charitable Foundation Inc: 

 15.8%
Other organizations performing similar types of work: 

 7.7%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20122013
Total revenue$70,073$22,133
Contributions, gifts, grants, and similar amounts received$100$3,500
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Investment income$0$0
Gain/Loss from sale of assets other than inventory$0$0
Net income/loss from gaming and fundraising events$69,973$18,633
Gross income from gaming$0$0
Gross income from fundraising events$69,973$68,942
Less: direct expenses from gaming and fundraising events$0$50,309
Gross profit/loss from sales of inventory$0$0
Other revenue$0$0
Total expenses$512$69,102
Total net assets$69,561$22,592
Excess/Deficit for the year$69,561$-46,969
Net assets or fund balances at beginning of year$0$69,561
Other changes in net assets or fund balances$0$0
Net assets or fund balances at end of year$69,561$22,592
Balance Sheets
20122013
Total assets$69,561$22,592
Total liabilities$0$0
Net assets or fund balances$69,561$22,592
Other Information
20122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
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?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
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?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$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?NoNo
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: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$142,515
Subtotal$142,515
Gifts, grants, contributions, and membership fees received$3,600
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$138,915
Gross receipts from activities that are not an unrelated trade or business under section 513$0
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
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$142,515
Public support$142,515
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Roswell Park Alliance FoundationElm And Carlton St, Buffalo, NY 14263-0001NY1996-08$28,110,672
2Science Foundation Arizona400 E Van Buren St Ste 220, Phoenix, AZ 85004-2223AZ2006-11$7,919,015
3St Andrews Charitable Foundation6633 Delmar Blvd, St Louis, MO 63130-4505MO2008-01$1,344,641
4Tma Support Corporation2427 M L K Jr Ave Se, Washington, DC 20020-5815DC2006-10$709,645
5Rotary Club Of Coralsprings-Parkland Foundation Inc11873 Nw 2nd Ct, Coral Springs, FL 33071-8017FL2007-03$57,467
6Asbury Foundation Inc20030 Century Blvd Ste 300, Germantown, MD 20874-1112MD1996-09$11,882,481
7Central Childrens Charities Inc10045 Red Run Blvd Ste 250, Owings Mills, MD 21117-5907MD2009-10$10,734,300
8The@brick Companies Foundation Inc3168 Braverton St Ste 400, Edgewater, MD 21037-2675MD2004-07$1,158,003
9Stewart B Eckers Charitable Trust22 W Pennsylvania Ave Ste 606, Towson, MD 21204-5005MD2011-02$1,137,920
10Lymphatic Malformation Institute7475 Wisconsin Ave Ste 600, Bethesda, MD 20814-3492MD2012-03$952,922
11Philip And Barbara Long Family Foundation Inc809 Eastern Shore Dr, Salisbury, MD 21804-5934MD2009-03$909,925
12Mordechai And Ruth Snider Charitable Foundation Inc600 Reisterstown Rd Ste 700, Pikesville, MD 21208-5110MD2010-04$644,785
13Brigance Brigade Foundation IncPO BOX 437, Finksburg, MD 21048-0437MD2013-01$460,677
14Restore A Child Inc11212 Cherry Hill Rd Apt 202, Beltsville, MD 20705-3817MD2011-06$411,405
15Rathburn Family Foundation4445 Willard Ave Ste 1010, Chevy Chase, MD 20815-3694MD2014-09$303,427
16Philanthropik Inc, Philanthropik1 South Street, Baltimore, MD 21202-3298MD2012-09$294,156
17Whiteford Taylor & Preston Charitable TrSeven Saint Paul Street Suite 1300, Baltimore, MD 21202-1626MD1998-12$251,876
18Just Tryan It IncPO BOX 34589, Bethesda, MD 20827-0589MD2010-04$216,129
19St Vincent De Paul Society Of Anapolis Inc109 Duke Of Gloucester St, Annapolis, MD 21401-2528MD1999-08$215,379
20White Rose Foundation Inc12138 Central Ave - Ste 413, Mitchellville, MD 20721-1910MD2006-03$206,359
Number of organizations performing similar types of work
Alaska27
Alabama174
Arkansas88
Arizona257
California1,561
Colorado295
Connecticut213
District of Columbia96
Delaware58
Florida937
Georgia405
Hawaii58
Iowa132
Idaho53
Illinois567
Indiana231
Kansas125
Kentucky138
Louisiana149
Massachusetts427
Maryland313
Maine54
Michigan422
Minnesota256
Missouri285
Mississippi53
Montana52
North Carolina382
North Dakota40
Nebraska93
New Hampshire76
New Jersey563
New Mexico62
Nevada84
New York1,186
Ohio529
Oklahoma149
Oregon175
Pennsylvania493
Rhode Island56
South Carolina163
South Dakota36
Tennessee218
Texas929
Utah116
Virginia393
Vermont41
Washington305
Wisconsin211
West Virginia59
Wyoming40
International30
Total13,855

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