Leon Polk Smith Foundation Tr, Marsh Gordon Et Al Ttee in New York, New York (NY)
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
| Leon Polk Smith Foundation Tr, Marsh Gordon Et Al Ttee | |
| Employer Identification Number (EIN) | 137147740 |
| Name of Organization | Leon Polk Smith Foundation Tr |
| Secondary Name | Marsh Gordon Et Al Ttee |
| In Care of Name | Davis & Grutmanllp |
| Address | C/O Davis Grutman Llp, New York, NY 10016 |
| Activities | Art exhibit |
| Subsection | Charitable Organization |
| Ruling Date | 07/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Trust |
| Tax Period | 12/2012 |
| Assets | $5,000,000 to $9,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $8,735,313 |
| Amount of Income | $150,160 |
| Form 990 Revenue Amount | $423,690 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Art Museums |
Non-representatives - add comments:
Amount of income in 2012: $150,160 (it was $423,690 in 2011)
| Leon Polk Smith Foundation Tr, Marsh Gordon Et Al Ttee: | $150,160 |
| Other organizations performing similar types of work: | $121,366 |
Assets in 2012: $8,735,313 (it was $8,733,274 in 2011)
| This organization: | $8,735,313 |
| Other organizations performing similar types of work: | $286,656 |
Expenses in 2012: $140,521
| This organization: | $140,521 |
| Other organizations performing similar types of work: | $84,708 |
Income to expenses ratio in 2012: 1.1
| This organization: | 1.1 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2012: 0.0%
| Leon Polk Smith Foundation Tr, Marsh Gordon Et Al Ttee: | 0.0% |
| Other organizations performing similar types of work: | 39.7% |
Revenue 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 | $142,560 | $0 | $2,039 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $2,923 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $137,900 | |||
| Gross sales less returns and allowances | $130,300 | |||
| Less: Cost of goods sold | $7,600 | |||
| Other income | $1,737 | |||
| Total expenses and disbursements | $140,521 | $0 | $0 | $110,894 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $140,521 | $0 | $110,894 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $2,039 | |||
| Net investment income | $0 | |||
| Adjusted net income | $2,039 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $8,735,313 | $8,735,313 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $8,735,313 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $8,735,313 | |
| 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? | Yes |
| 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 | $1,026,686 |
| Net value of noncharitable-use assets | $1,011,280 |
| Minimum investment return | $50,564 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| 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 | $2,039 | $47,147 | $15,069 | $9,386 | $73,641 |
| Qualifying distributions made directly for active conduct of exempt activities | $116,807 | $122,454 | $109,144 | $109,700 | $458,105 |
| Value of all assets | $8,735,313 | $8,733,274 | $8,452,384 | $8,539,629 | $34,460,600 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $33,709 | $31,431 | $21,803 | $21,058 | $108,001 |
| 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 | Site Santa Fe | 1606 Paseo De Peralta, Santa Fe, NM 87501-3724 | NM | 1997-11 | $5,146,023 |
| 2 | Fellowship For The Performing Arts Inc | 1674 Broadway Ste 404, New York, NY 10019-5838 | NY | 1992-03 | $4,875,633 |
| 3 | Albany Institute Of History And Art | 125 Washington Ave, Albany, NY 12210-2202 | NY | 1942-01 | $2,292,872 |
| 4 | Coby Foundation Ltd | 511 Avenue Of The Americas No 387, New York, NY 10011-8436 | NY | 1995-03 | $1,622,495 |
| 5 | Lux Art Institute | 1550 S El Camino Real, Encinitas, CA 92024-4908 | CA | 1998-10 | $876,172 |
| 6 | The Clark Center For Japanese Art & Culture | 15770 10th Ave, Hanford, CA 93230-9533 | CA | 1996-06 | $812,914 |
| 7 | Torrance Cultural Arts Center Foundation | 2550 Hawthorne Boulevard, Torrance, CA 90505 | CA | 1994-09 | $308,789 |
| 8 | Nancy Graves Foundation Inc | 450 West 31st St 2ndfl, New York, NY 10001-4608 | NY | 1997-04 | $222,452 |
| 9 | Leon Polk Smith Foundation Tr, Marsh Gordon Et Al Ttee | C/O Davis Grutman Llp, New York, NY 10016 | NY | 1998-07 | $150,160 |
| 10 | Catharine Lorillard Wolf Art Club Inc | 802 Broadway, New York, NY 10003-4804 | NY | 1966-02 | $78,057 |
| 11 | Traveling Wilderness Experience Inc | PO BOX 88, Aquebogue, NY 11931-0088 | NY | 1992-02 | $34,331 |
| 12 | Mica Foundation | 201 West 86th St, New York, NY 10024-3328 | NY | 1998-11 | $3,272 |
| 13 | V I A Art Inc | 15 W 24th St, New York, NY 10010-3214 | NY | 1995-05 | $1,137 |
| 14 | African American Art & Cultural Appreciation Council | PO BOX 498, New Rochell, NY 10802-0498 | NY | 1998-04 | $0 |
| 15 | Council For American Minority Artists | 330 E 43rd Street, New York, NY 10017-4810 | NY | 1997-04 | $0 |
| 16 | Free Enterprise Development Inc | 272 Pennsylvania Ave Apt 5g, Brooklyn, NY 11207-3419 | NY | 1996-09 | $0 |
| 17 | Hatari House Inc C/O Eric J Rogers | 283 Avenue C Apt 10e, New York, NY 10009-2319 | NY | 1994-06 | $0 |
| 18 | Manhattan Virtuosi Inc | PO BOX 1097, New York, NY 10008-1097 | NY | 1996-12 | $0 |
| 19 | Pine Bush Area Arts Council Inc | PO BOX 35, Pine Bush, NY 12566 | NY | 1991-06 | $0 |
| 20 | Society For The Advancement Of Understanding Post-Modern Russian, Post-Modern Russian Art Foundation | 745 Fifth Ave Ste 1701, New York, NY 10151-0099 | NY | 1998-11 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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