Phelps Family Foundation in Yarmouth, Maine (ME)

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Phelps Family Foundation
Employer Identification Number (EIN)201998199
Name of OrganizationPhelps Family Foundation
In Care of NameHugh M Phelps
Address214 Spruce Point Rd, Yarmouth, ME 04096-5341
SubsectionCharitable Organization
Ruling Date08/2005
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$100,000 to $499,999
Income$10,000 to $24,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$173,538
Amount of Income$14,409
Form 990 Revenue Amount$14,325
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2014: $14,409 (it was $27,273 in 2013)
Phelps Family Foundation: 

 $14,409
Other organizations performing similar types of work: 

 $105,489

Assets in 2014: $173,538 (it was $184,042 in 2013)
Phelps Family Foundation: 

 $173,538
Other organizations performing similar types of work: 

 $325,460

Expenses in 2013: $16,560
Phelps Family Foundation: 

 $16,560
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2013: 0.9
This organization: 

 0.9
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$27,273$27,273$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$3,777
Gross rents$0
Gross sales price for all assets$260,128
Gross profit from sales of goods$0
Other income$0
Other$23,496
Total expenses and disbursements$16,560$1,572$0$14,910
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$100
Accounting fees$1,150
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$2,310$1,572$660
Contributions, gifts, grants paid$14,250
Excess of revenue over expenses and disbursements$10,713
Net investment income$25,701
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$181,020$180,086$173,329$187,113$184,042$201,287
Cash - non-interest-bearing$1,990$2,115$752
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$177,372$168,596$179,922
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$0
Total liabilities$0$0$0
Total liabilities and net assets/fund balances$181,020$173,329$184,042
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$10,804$5,537$23,496
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$115$78$257
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$78$257
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
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?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$198,889$194,470$196,848
Net value of noncharitable-use assets$191,553$193,895
Minimum investment return$9,795$9,578$9,695
Distributable Amount
201120122013
Distributable amount$9,680$9,500$9,438
Undistributed Income
201120122013
Distributable amount for this year$9,680$9,500$9,438
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$3,777$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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IdNameAddressStateEstablishedTotal Income
1Td Charitable FoundationPO BOX 9540, Portland, ME 04112-9540ME2003-10$65,700,194
2Coulombe Family FoundationPO BOX 9729, Portland, ME 04104-5029ME2013-02$13,403,657
3Anne Randolph Henry Charitable Foundation, Kurt E Klebe TteePO BOX 31, Portland, ME 04112-0031ME2012-07$2,726,874
4Herbert E Tyler And Grace M Tyler Foundation19 Coralburst Ln, Scarborough, ME 04074-7152ME2014-02$2,413,128
5Vaughan Homestead FoundationC O Peter L Murray 89 West St, Portland, ME 04102ME2000-07$1,441,599
6The Alfred M Senter FundPO BOX 17510, Portland, ME 04112-8510ME2001-07$804,546
7Future Builders School On Thomas PondPo Box 272, Raymond, ME 04071ME2001-07$707,606
8John And Margaret Wise Charitable Foundation, Kurt E Klebe TteeOne Portland Sq, Portland, ME 04101-4057ME2013-02$689,676
9Wind Point FoundationPO BOX 7950, Portland, ME 04112-7950ME2013-01$613,829
10Woodside Foundation20 York St Ste 201, Portland, ME 04101-4694ME2009-09$475,768
11Hodgkins Memorial Tr FundPO BOX 1100, Ellsworth, ME 04605-1100ME2011-02$195,672
12Shadie-Niles Charitable TrPO BOX 31, Portland, ME 04112-0031ME2001-11$194,766
13Weinberger Foundation, Jane D Weinberger Et Al TteePO BOX 860, Mount Desert, ME 04660-0860ME2007-01$171,494
14Tom And Kate Chappell FamilyfoundationPO BOX 920, Kennebunk, ME 04043-0920ME2011-08$151,355
15Casco Foundation123 Free St, Portland, ME 04101-3919ME2014-10$94,827
16The Heliker-La Hotan Foundation Inc2 Heliker Rd, Cranberry Isles, ME 04625ME2001-01$74,492
17Eaton Peabody FoundationPO BOX 1210, Bangor, ME 04402-1210ME2009-01$54,015
18Out As I Want To Be IncPo Box 1723, Rockland, ME 04841ME2006-04$47,564
19Andrew C Marsh Meml Fund21 Stevens Ave, Portland, ME 04102-2221ME2010-02$34,179
20Aaron A And Maria H Putnam Family Charitable Trust35 Market Sq, Houlton, ME 04730-1703ME2012-04$30,980
Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia481
Hawaii85
Iowa178
Idaho58
Illinois1,113
Indiana311
Kansas157
Kentucky167
Louisiana161
Massachusetts705
Maryland425
Maine85
Michigan619
Minnesota384
Missouri346
Mississippi70
Montana69
North Carolina788
North Dakota20
Nebraska169
New Hampshire75
New Jersey876
New Mexico92
Nevada215
New York2,617
Ohio698
Oklahoma228
Oregon208
Pennsylvania1,086
Rhode Island184
South Carolina171
South Dakota32
Tennessee266
Texas1,263
Utah274
Virginia477
Vermont54
Washington401
Wisconsin354
West Virginia69
Wyoming63
International44
Total22,395

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