L M Butts Family Foundation in Natchez, Mississippi (MS)

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L M Butts Family Foundation
Employer Identification Number (EIN)061789292
Name of OrganizationL M Butts Family Foundation
In Care of NameLucius M Butts Jr
Address504 S Commerce St, Natchez, MS 39120-3508
SubsectionCharitable Organization
Ruling Date10/2006
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$130,484
Amount of Income$47,119
Form 990 Revenue Amount$9,697
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $47,119 (it was $28,082 in 2012)
L M Butts Family Foundation: 

 $47,119
Other organizations performing similar types of work: 

 $105,489

Assets in 2013: $130,484 (it was $126,397 in 2012)
L M Butts Family Foundation: 

 $130,484
Other organizations performing similar types of work: 

 $325,460

Expenses in 2012: $6,219
L M Butts Family Foundation: 

 $6,219
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2012: 7.6
L M Butts Family Foundation: 

 7.6
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 0.0%
L M Butts Family Foundation: 

 0.0%
Other organizations performing similar types of work: 

 22.8%

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$4,409$4,409$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$2,927
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$1,482
Total expenses and disbursements$6,219$260$0$5,700
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$519$260$0
Contributions, gifts, grants paid$5,700
Excess of revenue over expenses and disbursements$-1,810
Net investment income$4,149
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$126,397$112,987
Cash - non-interest-bearing$3,480
Investments-U.S. and state government obligations$0
Investments-corporate stock$46,300
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$74,735
Other$1,882
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$126,397
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$1,482
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$41
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$41
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$105,206
Net value of noncharitable-use assets$103,620
Minimum investment return$5,181
Distributable Amount (for 2012)
Distributable amount$5,140
Undistributed Income (for 2012)
Distributable amount for 2012$5,140
Undistributed income for 2012. This amount must be distributed in 2013$4,711
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
1Parker Lifeshare FoundationPO BOX 1937, Madison, MS 39130-1937MS2014-01$10,796,058
2William T Childs Iii Charitabletrust Uw Dated 10 28 2004, Bancorpsouth Bank TteePO BOX 789, Tupelo, MS 38802-0789MS2007-04$763,103
3Gillis Family Foundation730 Alabama St, Columbus, MS 39702-5402MS2014-09$311,521
4Tarver FoundationPO BOX 216, Greenville, MS 38702-0216MS1999-10$97,247
5Sweetwater FoundationPO BOX 1580, Jackson, MS 39215-1580MS2000-04$91,239
6Abundant Grace Foundation1286 Adkins Ln, Pickens, MS 39146-3281MS2013-02$77,280
7Mike And Janie Jarvis Family Foundation, Michael A Jarvis Ttee217 Calumet Dr, Madison, MS 39110-8686MS2013-10$45,296
8Thomas S Elmore Foundation109 W Commerce St, Aberdeen, MS 39730-2631MS2005-02$25,008
9Parker Graves Foundation IncPO BOX 1760, Tunica, MS 38676-1760MS2013-09$19,065
10Key Hands FoundationPO BOX 590, Madison, MS 39130-0590MS2014-04$17,045
11Galaxie FoundationPO BOX 12630, Jackson, MS 39236-2630MS2013-03$14,972
12Charles & Cynthia Bell FoundationPO BOX 3032, Madison, MS 39130-3032MS2013-05$10,117
13Ambassador Mike Retzer Charitable FoundationPO BOX 4457, Greenville, MS 38704-4457MS2009-07$10,000
14Uriel Medical Foundation101 Iberville Dr, Ocean Springs, MS 39564MS2007-03$8,503
15Sarah Elizabeth Allison Foundation Inc260 Eastbrooke St, Jackson, MS 39216-4716MS2001-01$5,567
16Ronald A And Charlotte V Graham Foundation146 Wild Mdws, Hattiesburg, MS 39402-8109MS2010-09$815
17Will And Mary Primos Foundation103 Chenal Ct, Madison, MS 39110-6598MS2011-03$330
18Camden Hood Foundation30319 Highway 371, Amory, MS 38821-7812MS2012-04$26
19Henry B Tyler Foundation137 Bridgewater Xing, Ridgeland, MS 39157-8602MS2005-06$1
20Puckett Serves FoundationPO BOX 321033, Flowood, MS 39232-1033MS2010-02$1
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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