Davenport Trust Fund in Bath, Maine (ME)

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Davenport Trust Fund
Employer Identification Number (EIN)016009246
Name of OrganizationDavenport Trust Fund
Address65 Front St, Bath, ME 04530-2508
ActivitiesScholarships (other), Gifts, grants, or loans to other organizations
SubsectionCharitable Organization, Educational Organization
Ruling Date08/1957
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$5,547,382
Amount of Income$921,861
Form 990 Revenue Amount$290,207
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Financial snapshot ($)

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$288,115$277,605$0
Contributions, gifts, grants, etc., received$10,510
Interest on savings and temporary cash investments$2
Dividends and interest from securities$227,033
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$375,008$46,357$0$323,795
Compensation of officers, directors, trustees, etc.$49,950
Total operating and administrative expenses$86,583$46,357$35,370
Contributions, gifts, grants paid$288,425
Excess of revenue over expenses and disbursements$-86,893
Net investment income$231,248
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$5,631,968$6,576,416
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$408,553
Investments-corporate stock$2,272,201
Investments-corporate bonds$2,422,334
Investments-mortgage loans$0
Total liabilities$525
Mortgages and other notes payable$0
Total liabilities and net assets/fund balances$5,631,443
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$50,570
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$2,312
Total credits and payments$4,800
2012 estimated tax payments and 2011 overpayment credited to 2012$4,800
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
Amount to be credited to 2013 estimated tax$2,488
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?Yes
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?Yes
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$6,518,195
Net value of noncharitable-use assets$6,420,420
Minimum investment return$321,021
Distributable Amount (for 2012)
Distributable amount$318,709
Undistributed Income (for 2012)
Distributable amount for 2012$318,709
Undistributed income for 2012. This amount must be distributed in 2013$2,139
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

Ratings Summary

Based on 1 vote

Overall Rating:
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1 User Review:

Kimberly Gates

Added on Mar 26, 2015 11:59 AM
Visited on Mar 26, 2015 12:57 PM
The Trustees that sit on the Davenport Trust Fund are prompt, generous and above all HELPFUL! Davenport has always been a substantial supporter of the Bath Area Food Bank. This past year Barry offered to pay for a 'Board Boot Camp' seminar. 3 of our board members took him up on his offer as well as our Executive Director...The class was instrumental in making the changes we needed to make to make to keep up with the times! We have been making those changes and improvements to both our board and to our present location...'Give a man a fish and feed him for a day...teach a man to fish and you feed him for a lifetime'...THANK YOU BARRY for teaching us how to fish!
Would you recommend Davenport Trust Fund to others? Yes
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