Lochridge Watkins Charitable Foundation in Providence, Rhode Island (RI)
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
| Lochridge Watkins Charitable Foundation | |
| Employer Identification Number (EIN) | 043408546 |
| Name of Organization | Lochridge Watkins Charitable Foundation |
| In Care of Name | Fleet National Bank |
| Address | PO BOX 1802, Providence, RI 02901-1802 |
| Subsection | Charitable Organization |
| Ruling Date | 03/1999 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $500,000 to $999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $2,045,194 |
| Amount of Income | $544,417 |
| Form 990 Revenue Amount | $163,831 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2013: $544,417 (it was $2,795,358 in 2012)
| Lochridge Watkins Charitable Foundation: | $544,417 |
| Other organizations performing similar types of work: | $72,190 |
Assets in 2013: $2,045,194 (it was $2,156,782 in 2012)
| Lochridge Watkins Charitable Foundation: | $2,045,194 |
| Other organizations performing similar types of work: | $42,723 |
Expenses in 2012: $130,672
| Lochridge Watkins Charitable Foundation: | $130,672 |
| Other organizations performing similar types of work: | $42,209 |
Income to expenses ratio in 2012: 4.2
| This organization: | 4.2 |
| Other organizations performing similar types of work: | 0.4 |
Grants share in income in 2012: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 4.7% |
Revenue for 2012
Expenses for 2012
Assets 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 | $217,058 | $216,237 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $50,483 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $41 | |||
| Other | $166,534 | |||
| Total expenses and disbursements | $130,672 | $14,281 | $0 | $115,333 |
| Compensation of officers, directors, trustees, etc. | $22,486 | |||
| Total operating and administrative expenses | $25,349 | $14,281 | $10,010 | |
| Contributions, gifts, grants paid | $105,323 | |||
| Excess of revenue over expenses and disbursements | $86,386 | |||
| Net investment income | $201,956 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $2,156,782 | $2,190,541 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,868,178 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $154,974 | |
| Other | $133,630 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $2,156,782 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $166,534 |
| 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 | $2,020 |
| Total credits and payments | $3,031 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $3,031 |
| 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 | $1,011 |
| Amount to be credited to 2013 estimated tax | $1,011 |
| 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? | 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 | $2,161,500 |
| Net value of noncharitable-use assets | $2,129,080 |
| Minimum investment return | $106,454 |
| Distributable Amount (for 2012) | |
| Distributable amount | $104,434 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $104,434 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $94,422 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| 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 | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Rotary International, South Hill Rotary Club | PO BOX 922, South Hill, VA 23970-0922 | VA | 2008-06 | $70,044 |
| 2 | De Ramel Foundation, Guillaume De Ramel Ttee | C/O M Orefice 1445 Wampanoag Trail, Riverside, RI 02915 | RI | 2009-02 | $3,847,311 |
| 3 | Susuan & Edgardo Abello Char Tr | PO BOX 1802, Providence, RI 02901-1802 | RI | 2012-10 | $392,566 |
| 4 | Creda Heppe Trust | PO BOX 1802, Providence, RI 02901-1802 | RI | 2012-06 | $244,179 |
| 5 | Boston Winter Ball Corporation | 401 Ocean Rd, Narragansett, RI 02882-1362 | RI | 2011-02 | $129,379 |
| 6 | Ufcw Local 328 Charitable Foundation | 278 Silver Spring St, Providence, RI 02904-2521 | RI | 2004-03 | $81,429 |
| 7 | Rhode Island Brain & Spine Foundation Inc | 118 Dudley Street, Providence, RI 02905 | RI | 2009-04 | $71,495 |
| 8 | Hillside Charitable Organization Inc | 2a Gibbs Ave, Newport, RI 02840-1824 | RI | 2009-09 | $65,524 |
| 9 | Cpl Holly Charette Scholarship Fund | 74 Marshall Cir, Coventry, RI 02816-7528 | RI | 2013-01 | $33,627 |
| 10 | The Eva C And James M Seed Family Foundation Inc | 42 Ladd St Ste 317, E Greenwich, RI 02818-4361 | RI | 2006-08 | $24,105 |
| 11 | Autos Of The World Inc | P O Box 755, North Scituate, RI 02857 | RI | 2013-02 | $19,395 |
| 12 | Bristol Rotary Charities Foundation | 353 Spinnaker Lane, Bristol, RI 02809 | RI | 2014-07 | $0 |
| 13 | Decaid | 4 Christian Court, Lincoln, RI 02865 | RI | 2014-07 | $0 |
| 14 | New England Gas Company Employee Directed Charity | 100 Weybosset St, Providence, RI 02903-2822 | RI | 2003-04 | $0 |
| 15 | Pennyclick Donor Advised Fund | 39 Avondale Rd, Westerly, RI 02891-5003 | RI | 2014-07 | $0 |
| 16 | Provisionsunited Ltd | 68 Dorrance Street Box 142, Providence, RI 02903 | RI | 2007-09 | $0 |
| 17 | Punks For A Princess | PO BOX 292, Slatersville, RI 02876-0292 | RI | 2014-12 | $0 |
| 18 | Ri Oil Heat Institute Charitable Foundation Inc | 1177 Jefferson Blvd Ste B, Warwick, RI 02886-2253 | RI | 2007-11 | $0 |
| 19 | Slh Memorial Golf Tournament | 999 Pontiac Avenue Suite B, Cranston, RI 02920 | RI | 2014-07 | $0 |
| 20 | Spinal Cord Injury Research Foundation Inc | 40 E George St, Providence, RI 02906-3805 | RI | 2011-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,544 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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