Spence Family Foundation in Billings, Montana (MT)

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Spence Family Foundation
Employer Identification Number (EIN)043619122
Name of OrganizationSpence Family Foundation
In Care of NameRalph Spence Jr
Address100 N 27th St Ste 305, Billings, MT 59101-2054
SubsectionCharitable Organization
Ruling Date05/2002
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period11/2014
Assets$500,000 to $999,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$567,001
Amount of Income$76,416
Form 990 Revenue Amount$15,855
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations


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Amount of income in 2014: $76,416 (it was $317,070 in 2012)
This organization: 

 $76,416
Other organizations performing similar types of work: 

 $103,138

Assets in 2014: $567,001 (it was $576,840 in 2012)
Spence Family Foundation: 

 $567,001
Other organizations performing similar types of work: 

 $338,623

Expenses in 2012: $28,385
Spence Family Foundation: 

 $28,385
Other organizations performing similar types of work: 

 $46,867

Income to expenses ratio in 2012: 2.7
Spence Family Foundation: 

 2.7
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2012: 80.3%
This organization: 

 80.3%
Other organizations performing similar types of work: 

 79.6%

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$89,669$17,669$0
Contributions, gifts, grants, etc., received$72,000
Interest on savings and temporary cash investments$0
Dividends and interest from securities$17,083
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$586
Total expenses and disbursements$28,385$777$0$27,460
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$2,085$777$1,160
Contributions, gifts, grants paid$26,300
Excess of revenue over expenses and disbursements$61,284
Net investment income$16,892
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$576,840$597,066
Cash - non-interest-bearing$-6
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$547,790
Other$29,056
Total liabilities$0
Total liabilities and net assets/fund balances$576,840
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$586
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$169
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$169
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$583,172
Net value of noncharitable-use assets$574,420
Minimum investment return$28,721
Distributable Amount (for 2012)
Distributable amount$28,552
Undistributed Income (for 2012)
Distributable amount for 2012$28,552
Undistributed income for 2012. This amount must be distributed in 2013$26,110
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
1Scoob Trust Foundation, Susan Hare TteePO BOX 97, Alder, MT 59710-0097MT2006-04$1,966,207
2Montana Mental Health Tr, John Warner TteePO BOX 8666, Missoula, MT 59807-8666MT2013-08$1,586,183
3The Prbb Foundation9443 Cottonwood Rd, Bozeman, MT 59718-8966MT2006-08$1,125,084
4True Vine Foundation IncPO BOX 1210, Victor, MT 59875-1210MT2000-03$673,046
5Stepping Forward FoundationPO BOX 1538, Billings, MT 59103-1538MT2011-06$570,373
6God Only Knows Foundation2145 Hwy 287 N, Cameron, MT 59720MT2010-03$570,103
7Jack A Marta And David A Marta Memorial Tr, Robert M Bassett Ii Ttee283 W Front St Ste 103, Missoula, MT 59802-4328MT2012-04$418,711
8Bayne Foundation Inc1435 Whitefish Hills Dr, Whitefish, MT 59937-8800MT2013-11$314,431
9Signal Peak Community Foundation1820 N Last Chance Gulch, Helena, MT 59601-0700MT2011-12$226,470
10Margaret V Ping FoundationPO BOX 20216, Billings, MT 59104-0216MT2009-06$195,930
11Talbot Family Foundation424 S Tracy Ave, Bozeman, MT 59715-5276MT2002-10$159,731
12Selah Charitable Tr, Peterson Eugene H TteePO BOX 732, Lakeside, MT 59922-0732MT2003-03$89,532
13Spence Family Foundation100 N 27th St Ste 305, Billings, MT 59101-2054MT2002-05$76,416
14Senner Family Foundation2663 Typha Ct Unit 8, Bozeman, MT 59718-7167MT2010-12$61,775
15Ruby E Hanson Scholarship Tr, Howard Steven Ttee100 W Laurel Ave, Plentywood, MT 59254-1647MT2004-07$54,338
16Helen L Gurtner Hoo Hoo Charitable Tr, Royce Mccarty Ttee841 Running Creek St, Hamilton, MT 59840-2081MT2012-09$34,443
17Walter And Elaine Anderson Charitable Tr, Jerry R Hoover Ttee2025 Flowerree St, Helena, MT 59601-5919MT2009-02$34,221
18Wade Sukut Charitable EducationtrustPO BOX 516, Circle, MT 59215-0516MT2007-01$1,996
19John Michael Trauscht Foundation520 E Sussex Ave, Missoula, MT 59801-7053MT2008-03$1
20Northern Basin Family Foundation IncPO BOX 147, Augusta, MT 59410-0147MT2001-07$1
Number of organizations performing similar types of work
Alaska9
Alabama199
Arkansas82
Arizona267
California2,351
Colorado400
Connecticut391
District of Columbia107
Delaware405
Florida1,490
Georgia455
Hawaii86
Iowa147
Idaho73
Illinois1,069
Indiana261
Kansas152
Kentucky147
Louisiana127
Massachusetts713
Maryland422
Maine67
Michigan549
Minnesota327
Missouri308
Mississippi56
Montana59
North Carolina649
North Dakota15
Nebraska126
New Hampshire66
New Jersey849
New Mexico78
Nevada194
New York2,454
Ohio628
Oklahoma223
Oregon179
Pennsylvania935
Rhode Island181
South Carolina141
South Dakota32
Tennessee192
Texas1,225
Utah217
Virginia452
Vermont36
Washington375
Wisconsin334
West Virginia49
Wyoming61
International38
Total20,448

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