Kotowski Memorial Scholarship Foundation in Park Rapids, Minnesota (MN)

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Kotowski Memorial Scholarship Foundation
Employer Identification Number (EIN)263499322
Name of OrganizationKotowski Memorial Scholarship Foundation
In Care of NameDonald Wilkins
Address16912 Dogwood Rd, Park Rapids, MN 56470-2727
SubsectionCharitable Organization
Ruling Date11/2012
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$100,000 to $499,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$362,492
Amount of Income$2,685
Form 990 Revenue Amount$2,685
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2012: $2,685
This organization: 

 $2,685
Other organizations performing similar types of work: 

 $41,680

Assets in 2012: $362,492
This organization: 

 $362,492
Other organizations performing similar types of work: 

 $65,579

Expenses in 2012: $20,551
This organization: 

 $20,551
Other organizations performing similar types of work: 

 $24,470

Income to expenses ratio in 2012: 0.1
Kotowski Memorial Scholarship Foundation: 

 0.1
Other organizations performing similar types of work: 

 0.5

Grants share in income in 2012: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 9.0%

Financial snapshot 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$2,685$2,685$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$2,685
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$20,551$0$0$20,551
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$1,051$0$1,051
Contributions, gifts, grants paid$19,500
Excess of revenue over expenses and disbursements$-17,866
Net investment income$2,685
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$362,492$362,492
Cash - non-interest-bearing$1,552
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$360,940
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$362,492
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$0
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$54
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$54
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$375,220
Net value of noncharitable-use assets$369,600
Minimum investment return$18,480
Distributable Amount (for 2012)
Distributable amount$18,426
Undistributed Income (for 2012)
Distributable amount for 2012$18,426
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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
IdNameAddressStateEstablishedTotal Income
1Us-Central Asia Education Foundation124 U St Nw, Washington, DC 20001-1606DC2007-10$4,838,252
2Subsea Tieback Scholarship Fund5418 Woodbury St, Fulshear, TX 77441-4139TX2007-10$101,112
3Tom Mcmahon Construction Scholarship Fund4441 S Abilene Cir, Aurora, CO 80015-1047CO2006-11$18,033
4Wasie Foundation230 Manitoba Ave S Ste 110, Wayzata, MN 55391-1805MN1967-04$15,414,639
5Wallin Education Partners5200 Willson Rd Ste 209, Minneapolis, MN 55424-1343MN2007-05$4,256,589
6Tee It Up For The Troops Inc515 W Travelers Trl, Burnsville, MN 55337-2548MN2006-02$1,696,502
7The Valspar FoundationPO BOX 1461, Minneapolis, MN 55440-1461MN1979-12$1,607,989
8Stevens Seminary Foundation1017 Hennepin Ave N, Glencoe, MN 55336-2218MN2002-10$1,250,753
9Donations For Education5401 Gamble Dr Ste 275, Minneapolis, MN 55416-1572MN2009-07$442,783
10Go Corps6736 Regent Ave N, Brooklyn Ctr, MN 55429-1660MN2011-03$312,111
11TeachaitiPO BOX 1173, Detroit Lakes, MN 56502-1173MN2010-02$259,609
12District 196 Foundation Incorporated, Apple Valley High School Scholarship Fund3455 153rd Street West, Rosemount, MN 55068MN2010-10$256,552
13Transformation Fund3033 Excelsior Blvd Ste 190, Minneapolis, MN 55416-4692MN2000-07$256,047
14Devin Lomax Bolkcom Smith Scholarship Fund1365 Idaho Ave W, Falcon Hgts, MN 55108-2113MN2012-04$219,671
15Sfm Foundation3500 American Blvd West, Bloomington, MN 55431MN2008-08$208,204
16San Lucas Toliman Scholars34 Hilltop Ln, St Paul, MN 55116-2720MN2006-03$174,209
17Upper Midwest A-C Club22243 200th St, Hutchinson, MN 55350-4234MN2015-03$154,494
18Tlc Education Foundation1411 W River Rd, Minneapolis, MN 55411-3429MN2000-04$145,943
19Minnesota Educational Scholarship Fund Inc8642 Ivan Ave S, Cottage Grove, MN 55016MN2014-06$127,164
20Gre Employees Memorial Scholarship Fund Inc12300 Elm Creek Blvd N, Maple Grove, MN 55369-4718MN1996-04$102,483
Number of organizations performing similar types of work
Alaska48
Alabama286
Arkansas212
Arizona375
California2,590
Colorado397
Connecticut360
District of Columbia210
Delaware90
Florida1,248
Georgia644
Hawaii125
Iowa241
Idaho90
Illinois1,083
Indiana348
Kansas216
Kentucky271
Louisiana247
Massachusetts819
Maryland580
Maine135
Michigan690
Minnesota353
Missouri459
Mississippi159
Montana122
North Carolina631
North Dakota29
Nebraska124
New Hampshire145
New Jersey1,137
New Mexico122
Nevada157
New York1,581
Ohio902
Oklahoma233
Oregon274
Pennsylvania951
Rhode Island132
South Carolina243
South Dakota54
Tennessee325
Texas2,055
Utah196
Virginia649
Vermont87
Washington473
Wisconsin403
West Virginia110
Wyoming43
International27
Total23,481

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