Gretchen C Valade Endownment For The Arts in St Clair Shores, Michigan (MI)
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
- Organizations performing similar types of work
| Gretchen C Valade Endownment For The Arts | |
| Employer Identification Number (EIN) | 043843795 |
| Name of Organization | Gretchen C Valade Endownment For The Arts |
| Address | 23100 Jefferson Ave, St Clair Shores, MI 48080-2756 |
| Subsection | Charitable Organization |
| Ruling Date | 06/2006 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $4,952,594 |
| Amount of Income | $4,098,554 |
| Form 990 Revenue Amount | $5,600,871 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2013: $4,098,554 (it was $5,541,777 in 2012)
| Gretchen C Valade Endownment For The Arts: | $4,098,554 |
| Other organizations performing similar types of work: | $71,190 |
Assets in 2013: $4,952,594 (it was $7,164,588 in 2012)
| Gretchen C Valade Endownment For The Arts: | $4,952,594 |
| Other organizations performing similar types of work: | $83,338 |
Expenses in 2012: $2,288,006
| This organization: | $2,288,006 |
| Other organizations performing similar types of work: | $72,958 |
Income to expenses ratio in 2012: 1.8
| This organization: | 1.8 |
| Other organizations performing similar types of work: | 1.2 |
Grants share in income in 2012: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 94.6% |
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 | $519,631 | $519,613 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $2,661 | |||
| Dividends and interest from securities | $157,428 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $33,627 | |||
| Other | $325,915 | |||
| Total expenses and disbursements | $2,288,006 | $24,803 | $0 | $2,258,297 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $38,006 | $24,803 | $8,297 | |
| Contributions, gifts, grants paid | $2,250,000 | |||
| Excess of revenue over expenses and disbursements | $-1,768,375 | |||
| Net investment income | $494,810 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $7,164,588 | $8,417,775 |
| Cash - non-interest-bearing | $2,813 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $3,075,309 | |
| Investments-corporate bonds | $2,260,103 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $1,670,835 | |
| Other | $155,528 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $7,164,588 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $325,915 |
| 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 | $4,948 |
| Total credits and payments | $8,080 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $5,680 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $2,400 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $6 |
| Tax due | $0 |
| Overpayment | $3,126 |
| Amount to be credited to 2013 estimated tax | $3,126 |
| 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? | 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 | $9,232,864 |
| Net value of noncharitable-use assets | $9,094,380 |
| Minimum investment return | $454,719 |
| Distributable Amount (for 2012) | |
| Distributable amount | $449,771 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $449,771 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| 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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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Arts Partnership | 345 Washington St, Saint Paul, MN 55102-1419 | MN | 2009-01 | $10,865,083 |
| 2 | Gretchen C Valade Endownment For The Arts | 23100 Jefferson Ave, St Clair Shores, MI 48080-2756 | MI | 2006-06 | $4,098,554 |
| 3 | Tierney Family Foundation Inc | 17 Butlers Rd, Darien, CT 06820 | CT | 1989-12 | $1,685,808 |
| 4 | Scientific And Culturalcollaborative | PO BOX 102995, Denver, CO 80250-2995 | CO | 2007-10 | $368,907 |
| 5 | Art Culture And Entertainment Inc | 6120 Enterprise Drive, Pensacola, FL 32505 | FL | 2010-08 | $294,977 |
| 6 | Winter Charity Ball Inc | 6608 N Western Box 292, Oklahoma City, OK 73116-7326 | OK | 2011-08 | $118,650 |
| 7 | The Mississippi Festival Foundation Inc | 308 N Main St, Sardis, MS 38666 | MS | 2006-11 | $71,190 |
| 8 | Artworks Gwinnett Inc | 6500 Sugarloaf Parkway, Duluth, GA 30097-7501 | GA | 2011-09 | $65,941 |
| 9 | Sicilian Association Of Greater Boston Inc | 302 Water Street, Quincy, MA 02169-6552 | MA | 2004-08 | $44,723 |
| 10 | Memorial Hall Association Inc | Po Box 123, Shelburne Falls, MA 01370 | MA | 2008-08 | $23,979 |
| 11 | Westerville North Theatre Boosters | 950 County Line Road, Westerville, OH 43081 | OH | 2014-08 | $20,661 |
| 12 | Kansas Arts Foundation Inc | PO BOX 1806, Manhattan, KS 66505-1806 | KS | 2011-08 | $11,680 |
| 13 | Friends Of The Performing Arts Inc | 1001 Wade Avenue, Raleigh, NC 27605-3322 | NC | 2003-09 | $6,832 |
| 14 | Wendy Arts Foundation | 11755 Wilshire Blvd Ste 1230, Los Angeles, CA 90025-1501 | CA | 2002-01 | $100 |
| 15 | Soaring For Success | 3018 Cowhorn Branch Ct, Waxhaw, NC 28173-0200 | NC | 2004-01 | $1 |
| 16 | American Friends Of The Lyric Theatre Ireland Inc | 1000 N West Street Suite 1200, Wilmington, DE 19801 | DE | 2007-08 | $0 |
| 17 | American Friends Of The National Gallery Of The Cayman Islands | 10 St James Ave, Boston, MA 02116-3813 | MA | 2002-02 | $0 |
| 18 | Boomerang Fund For Artists Inc | Joseph P Morra 316 Lorraine Dr, Rockville, MD 20852 | MD | 2003-08 | $0 |
| 19 | Cape Verde Care Agency Inc | 5 Madison St, Somerville, MA 02145 | MA | 2003-11 | $0 |
| 20 | Taylor Cultural Arts Foundation | 22805 Goddard Road, Taylor, MI 48180 | MI | 2005-08 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 70 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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