Damico Family Foundation in Cleveland, Ohio (OH)

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Damico Family Foundation
Employer Identification Number (EIN)010702653
Name of OrganizationDamico Family Foundation
In Care of NameHpm Partners Llc
Address600 Superior Ave E Ste 1000, Cleveland, OH 44114-2619
SubsectionCharitable Organization
Ruling Date08/2002
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$4,258,346
Amount of Income$1,848,614
Form 990 Revenue Amount$147,299
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $1,848,614 (it was $837,057 in 2012)
This organization: 

 $1,848,614
Other organizations performing similar types of work: 

 $105,489

Assets in 2013: $4,258,346 (it was $4,257,690 in 2012)
Damico Family Foundation: 

 $4,258,346
Other organizations performing similar types of work: 

 $325,460

Expenses in 2012: $222,036
This organization: 

 $222,036
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2012: 8.3
This organization: 

 8.3
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 54.9%
Damico Family Foundation: 

 54.9%
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$414,220$186,720$0
Contributions, gifts, grants, etc., received$227,500
Interest on savings and temporary cash investments$39,101
Dividends and interest from securities$83,322
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$64,297
Total expenses and disbursements$222,036$1,311$0$215,000
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$7,036$1,311$0
Contributions, gifts, grants paid$215,000
Excess of revenue over expenses and disbursements$192,184
Net investment income$185,409
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$4,257,690$4,322,012
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$3,119,784
Other$1,137,906
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$4,257,690
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$64,297
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$3,708
Total credits and payments$5,015
2012 estimated tax payments and 2011 overpayment credited to 2012$5,015
Exempt foreign organizations-tax withheld at source$0
Tax paid with application for extension of time to file (Form 8868)$0
Backup withholding erroneously withheld$0
Any penalty for underpayment of estimated tax$0
Tax due$0
Overpayment$1,307
Amount to be credited to 2013 estimated tax$1,307
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$4,162,273
Net value of noncharitable-use assets$4,099,840
Minimum investment return$204,992
Distributable Amount (for 2012)
Distributable amount$201,284
Undistributed Income (for 2012)
Distributable amount for 2012$201,284
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
1The National City Corporation Charitable Foundation IiPO BOX 94651, Cleveland, OH 44101-4651OH1999-05$56,736,518
2Robert & Ita Klein Charitable Foundation200 Public Sq Ste 2500, Cleveland, OH 44114-2398OH2013-11$32,155,556
3The Ariel Foundation101 E Gambier St, Mount Vernon, OH 43050-3509OH2009-07$23,426,936
4Mathile Philanthropic Trust6450 Sand Lake Rd Ste 200, Dayton, OH 45414-2679OH2012-02$20,000,000
5Carl Jacobs FoundationPO BOX 630858, Cincinnati, OH 45263-0858OH2010-08$12,787,845
6Macbea Foundation52 E Gay St, Columbus, OH 43215-3108OH2010-12$8,462,892
7Wagler Foundation3700 Tabs Dr, Uniontown, OH 44685-9562OH2012-12$7,509,959
8Ylk Charitable Fund8000 Walton Pkwy Ste 100, New Albany, OH 43054-7075OH2009-01$6,611,462
9Abrams Family Foundation3710 State Route 133, Williamsburg, OH 45176-9798OH2012-02$6,585,400
10Harry T Wilks Family Foundation1763 Hamilton Cleves Rd, Hamilton, OH 45013-9601OH2010-10$4,625,900
11Walter And Olivia Kiebach Foundation8964 Little Mountain Ste 1000, Kirtland Hills, OH 44060-7946OH2008-11$3,474,313
12Stanard Family Foundation600 Superior Avenue East, Cleveland, OH 44114-2614OH2006-02$3,395,620
13Marian S Lawry Private FoundationPO BOX 94651, Cleveland, OH 44101-4651OH2011-01$3,296,301
14The@erwin & Katherine Geis Charitable Foundation10020 Aurora Hudson Rd, Streetsboro, OH 44241-1621OH2001-07$2,965,351
15Roe Green Foundation1301 E 9th St Ste 1900, Cleveland, OH 44114-1862OH1999-08$2,886,300
16The Char And Chuck Fowler Family Foundation5885 Landerbrook C/O Cornerstone, Mayfield Heights, OH 44124OH2003-11$2,785,534
17Warmenhoven Family Foundation7261 Engle Rd Ste 202, Cleveland, OH 44130-3479OH2007-09$2,640,853
18Jean Harry And Brenda Fuchs Family Foundation25550 Chagrin Blvd Ste 403, Beachwood, OH 44122-4640OH2013-03$2,584,030
19Richard And Alita Rogers Family Foundation538 Woodside Dr, Akron, OH 44303-1710OH2013-09$2,200,540
20The Puskar Family Foundation516 Old Harbor Ct, Dayton, OH 45458-2878OH2005-03$2,057,797
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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