William Searls Scholarship Foundation in Damariscotta, Maine (ME)
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
- Other organizations in Maine
| William Searls Scholarship Foundation | |
| Employer Identification Number (EIN) | 016009698 |
| Name of Organization | William Searls Scholarship Foundation |
| Address | PO BOX 940, Damariscotta, ME 04543-0940 |
| Activities | Scholarships (other) |
| Subsection | Educational Organization |
| Ruling Date | 08/1954 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $357,597 |
| Amount of Income | $84,461 |
| Form 990 Revenue Amount | $7,598 |
Non-representatives - add comments:
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 | $24,954 | $24,954 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $577 | |||
| Dividends and interest from securities | $6,929 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $17,448 | |||
| Total expenses and disbursements | $26,648 | $5,068 | $0 | $21,580 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $5,348 | $5,068 | $280 | |
| Contributions, gifts, grants paid | $21,300 | |||
| Excess of revenue over expenses and disbursements | $-1,694 | |||
| Net investment income | $19,886 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $359,638 | $364,470 |
| Cash - non-interest-bearing | $5,613 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $354,025 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $359,638 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $17,448 |
| 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 | $199 |
| Total credits and payments | $199 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $0 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $199 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| 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 | $365,502 |
| Net value of noncharitable-use assets | $360,020 |
| Minimum investment return | $18,001 |
| Distributable Amount (for 2012) | |
| Distributable amount | $17,802 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $17,802 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $12,029 |
| 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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| Other organizations in Maine | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Westman Village Inc | 157 Water St, Augusta, ME 04330-4607 | ME | 1983-06 | $215,619 |
| 2 | Wha Inc | 88 Silver St, Waterville, ME 04901-5924 | ME | 1998-12 | $141,827 |
| 3 | Whelan Family Scholarship Fund | 11 Tumblers Hl, Freeport, ME 04032-6301 | ME | 2006-03 | $2,775 |
| 4 | White Pine Foundation | PO BOX 7160, Portland, ME 04112-7160 | ME | 1998-01 | $386,258 |
| 5 | Whiting Community Food Pantry | 340 Us Rt 1, Dennysville, ME 04628 | ME | 2009-01 | $48,693 |
| 6 | Whitney Brookside Corporation | PO BOX 482, Canton, ME 04221-0482 | ME | 1982-09 | $209,076 |
| 7 | Wild Blueberry Association Of North America | PO BOX 100, Old Town, ME 04468-0100 | ME | 1961-01 | $1,123,949 |
| 8 | Wilhelm Reich Infant Trust | PO BOX 687, Rangeley, ME 04970-0687 | ME | 1994-09 | $969,028 |
| 9 | William E And Lucretia W Evans Foundation Inc, Welwe | 21 Spar Cir, Yarmouth, ME 04096-6536 | ME | 1992-10 | $46,218 |
| 10 | William S Dunn Memorial Foundation | 714 Bald Hill Rd, New Gloucestr, ME 04260-3220 | ME | 1969-03 | $86,988 |
| 11 | William Searls Scholarship Foundation | PO BOX 940, Damariscotta, ME 04543-0940 | ME | 1954-08 | $84,461 |
| 12 | Willowbrook At Newfield Restoration Village, Willowbrook Museum Village | X 28, Newfield, ME 04056 | ME | 1980-10 | $146,773 |
| 13 | Wilton Free Library Association | PO BOX 454, Wilton, ME 04294-0454 | ME | 1990-01 | $148,721 |
| 14 | Wilton Housing Inc | 501 Danforth St, Portland, ME 04102-3665 | ME | 1978-08 | $186,627 |
| 15 | Windham Center Stage Theatre | Po Box 529, Windham, ME 04062 | ME | 2010-10 | $0 |
| 16 | Sebago Lakes Region Chamber Of Commerce, Sebago Lakes Region Chamber Of Comm | PO BOX 1015, Windham, ME 04062-1015 | ME | 1979-06 | $179,308 |
| 17 | Windham Gorham Rod & Gun Club | 269 Highland Cliff Rd, Windham, ME 04062-4022 | ME | 1973-01 | $33,040 |
| 18 | Windham School Age Childcare | PO BOX 839, Windham, ME 04062-0839 | ME | 2000-01 | $307,745 |
| 19 | Windham Youth Soccer Association | PO BOX 389, Windham, ME 04062-0389 | ME | 2006-12 | $107,877 |
| 20 | Windsor Fair | 230 Park St, Farmingdale, ME 04344-1518 | ME | 1938-09 | $1,357,767 |
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