Life Time Fitness Foundation in Chanhassen, Minnesota (MN)

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Life Time Fitness Foundation
Employer Identification Number (EIN)030533192
Name of OrganizationLife Time Fitness Foundation
In Care of NameBahram Akradi
Address2902 Corporate Pl, Chanhassen, MN 55317-4560
SubsectionCharitable Organization
Ruling Date06/2006
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$1,623,485
Amount of Income$1,437,330
Form 990 Revenue Amount$562,091
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Foster Care


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Amount of income in 2013: $1,437,330 (it was $592,645 in 2012)
Life Time Fitness Foundation: 

 $1,437,330
Other organizations performing similar types of work: 

 $306,516

Assets in 2013: $1,623,485 (it was $876,875 in 2012)
This organization: 

 $1,623,485
Other organizations performing similar types of work: 

 $82,830

Expenses in 2012: $427,891
This organization: 

 $427,891
Other organizations performing similar types of work: 

 $324,067

Income to expenses ratio in 2012: 3.4
This organization: 

 3.4
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 100.0%
This organization: 

 100.0%
Other organizations performing similar types of work: 

 31.5%

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$592,645$2$0
Contributions, gifts, grants, etc., received$592,643
Interest on savings and temporary cash investments$2
Dividends and interest from securities$0
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$427,891$30$0$361,930
Compensation of officers, directors, trustees, etc.$117,000
Total operating and administrative expenses$343,740$30$307,621
Contributions, gifts, grants paid$84,151
Excess of revenue over expenses and disbursements$164,754
Net investment income$0
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$876,875$876,875
Cash - non-interest-bearing$783,205
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$93,670
Total liabilities$104,712
Mortgages and other notes payable$0
Other$104,712
Total liabilities and net assets/fund balances$772,163
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$0
Total credits and payments$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?Yes
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$757,515
Net value of noncharitable-use assets$746,160
Minimum investment return$37,308
Distributable Amount (for 2012)
Distributable amount$37,308
Undistributed Income (for 2012)
Distributable amount for 2012$37,308
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
1Center For Youth And Family Solutions2610 W Richwoods Blvd, Peoria, IL 61604-7112IL2012-01$24,642,483
2Savio House325 King St, Denver, CO 80219-1326CO1969-03$11,075,542
3Specialized Alternatives For Families And Youth Of Kentucky Inc, Safy Of Kentucky10100 Elida Rd, Delphos, OH 45833-9056OH2014-09$7,536,344
4United Methodist Childrens Home Of2023 Richview Rd, Mount Vernon, IL 62864-2884IL2006-09$5,728,088
5Touchstone Residential Services1222 Copeland Oaks Dr, Morrisville, NC 27560-6614NC2002-09$5,119,859
6Sojourners Care Network605 W Main St, Mcarthur, OH 45651-1070OH1999-06$4,111,025
7Youth Ventures Of Colorado4785 Granby Cir, Colorado Spgs, CO 80919-3131CO2008-05$3,647,179
8Specialized Care Foster Family Agency Inc7365 Carnelian St Ste 127, Rch Cucamonga, CA 91730-1100CA2004-06$2,967,870
9Divinity Family Services IncPO BOX 290067, Kerrville, TX 78029-0067TX2010-12$2,820,378
10Transitions Childrens Services1945 N Helm Ave Ste 101, Fresno, CA 93727-1670CA2009-09$2,433,465
11Rephidim2095 Lakeside Centre Way Ste 101, Knoxville, TN 37922-6647TN2008-10$2,254,334
12Professional Assn Of Treatment Homes Path5985 Rice Creek Parkway, Shoreview, MN 55126-5038MN2001-07$1,563,639
13Life Time Fitness Foundation2902 Corporate Pl, Chanhassen, MN 55317-4560MN2006-06$1,437,330
14Pinehaven Youth And Family Services IncPO BOX 667, Brainerd, MN 56401-0667MN2009-07$1,274,443
15Hope BloomsPO BOX 152, Clear Lake, MN 55319-0152MN2009-03$13,544
16Collegesphere14454 Dove Ct, Prior Lake, MN 55372MN2013-07$0
17Fostering Families Incorporated635 W 4th St, Rush City, MN 55069MN2014-09$0
18Gift Of LovePo Box 805, Duluth, MN 55801MN2006-07$0
19Ormeda-Oromo Relief Medical Educational Development Assoc5900 Creekview Ln N, Brooklyn Park, MN 55443-2360MN2012-09$0
20Power Up ClubhousePo Box 185, Saint Peter, MN 56082MN2000-02$0
Number of organizations performing similar types of work
Alaska2
Alabama15
Arkansas8
Arizona9
California195
Colorado20
Connecticut4
District of Columbia6
Delaware2
Florida54
Georgia65
Hawaii2
Iowa9
Idaho5
Illinois16
Indiana9
Kansas5
Kentucky9
Louisiana9
Massachusetts5
Maryland17
Maine6
Michigan29
Minnesota9
Missouri20
Mississippi3
Montana4
North Carolina30
North Dakota2
Nebraska8
New Hampshire1
New Jersey4
New Mexico7
Nevada8
New York15
Ohio38
Oklahoma17
Oregon16
Pennsylvania20
Rhode Island1
South Carolina18
South Dakota3
Tennessee14
Texas93
Virginia17
Vermont2
Washington24
Wisconsin11
West Virginia6
Wyoming2
International2
Total896

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