Jake Owen Foundation in Nashville, Tennessee (TN)

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Jake Owen Foundation
Employer Identification Number (EIN)273637791
Name of OrganizationJake Owen Foundation
In Care of NameJackie Warrick
Address1033 16th Ave S, Nashville, TN 37212-2302
SubsectionCharitable Organization
Ruling Date06/2011
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$25,824
Amount of Income$32,311
Form 990 Revenue Amount$140,457
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Family Services


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Amount of income in 2013: $32,311 (it was $342,636 in 2012)
This organization: 

 $32,311
Other organizations performing similar types of work: 

 $87,774

Assets in 2013: $25,824 (it was $182,198 in 2012)
Jake Owen Foundation: 

 $25,824
Other organizations performing similar types of work: 

 $32,098

Expenses in 2013: $57,185
Jake Owen Foundation: 

 $57,185
Other organizations performing similar types of work: 

 $86,342

Income to expenses ratio in 2013: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 5.4%
This organization: 

 5.4%
Other organizations performing similar types of work: 

 100.0%

Financial snapshot ($)

Revenue for 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$32,311$33$30,557
Contributions, gifts, grants, etc., received$1,754
Interest on savings and temporary cash investments$33
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$30,524
Total expenses and disbursements$57,185$118$54,704$131,500
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$0
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$392
Printing and publications$0
Total operating and administrative expenses$57,185$118$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$-24,874
Net investment income$0
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$60,714$60,714$182,198$182,198$25,824$25,824
Cash - non-interest-bearing$60,714$182,198$25,824
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$0
Total liabilities$35,000$131,500$0
Total liabilities and net assets/fund balances$25,714$50,698$25,824
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$0$0
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$0$0$0
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
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?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?YesYesYes
Did any persons become substantial contributors during the tax year?YesNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$11,701$60,931$17,335
Net value of noncharitable-use assets$60,017$17,075
Minimum investment return$576$3,001$854
Distributable Amount
201120122013
Distributable amount$0$0$0
Undistributed Income
201120122013
Distributable amount for this year$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$1$0$0$0$1
Qualifying distributions made directly for active conduct of exempt activities$131,500$0$0$0$131,500
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$569$0$0$0$569
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
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Warrior Ministries634 Semmes St, Memphis, TN 38111-2202TN2002-08$1,153,523
2Rise Foundation Inc22 N Front St Ste 680, Memphis, TN 38103-2146TN2002-02$858,762
3Refuge Center For Counseling Inc103 Forrest Crossing Blvd Ste 102, Franklin, TN 37064-5454TN2006-03$583,236
4Soar Youth MinistriesPO BOX 51611, Knoxville, TN 37950-1611TN1998-01$390,060
5Families Matter Inc2595 Central Ave, Memphis, TN 38104-5905TN2012-03$347,669
6The Family Action Council Of Tennessee Inc1113 Murfreesboro Road 106-167, Franklin, TN 37064-1306TN2006-08$318,061
7Sagequest6479 Peytonsville Arno Rd, College Grove, TN 37046-9135TN1998-08$297,638
8Womens Care Center Of Sevier Co304 Eastgate Rd, Sevierville, TN 37862-4118TN1996-02$92,868
9Jake Owen Foundation1033 16th Ave S, Nashville, TN 37212-2302TN2011-06$32,311
10Bill And Andy Foundation1214 Topside Rd, Louisville, TN 37777-5505TN2012-02$29,393
11Life Choices Pregnancy Support Center37 Sunrise Park, Winchester, TN 37398-2345TN2013-06$22,329
12Spirit Builders Inc9725 Woodland Hills Dr, Cordova, TN 38018TN2004-08$15,774
13Corina Field Carroll FundPO BOX 3062, Chattanooga, TN 37404-0062TN2013-02$13,743
14Wishes And Rainbows1410 Airport Lake Rd, Mc Minnville, TN 37110-6343TN2002-08$7,120
15Uss Carbonero Base6860 Village Lake Cir, East Ridge, TN 37412-4095TN2010-02$1,504
16Abbas Way103 Cottonwood Circle, Franklin, TN 37069TN2010-11$0
17Abigail Ministry Incorporated, None NonePo Box 2150, Antioch, TN 37011TN2014-12$0
18Babywearing International Inc1618 Holly St, Nashville, TN 37206TN2010-04$0
19Babywearing International Inc6305 Ellesmere Drive, Knoxville, TN 37921TN2010-04$0
20Babywearing International Inc8854 Flatts Meadow Cove, Arlington, TN 38002TN2010-04$0
Number of organizations performing similar types of work
Alaska10
Alabama95
Arkansas58
Arizona92
California562
Colorado84
Connecticut52
District of Columbia29
Delaware14
Florida418
Georgia302
Hawaii17
Iowa50
Idaho28
Illinois216
Indiana90
Kansas48
Kentucky56
Louisiana91
Massachusetts80
Maryland142
Maine14
Michigan184
Minnesota86
Missouri119
Mississippi57
Montana11
North Carolina230
North Dakota6
Nebraska27
New Hampshire16
New Jersey146
New Mexico31
Nevada49
New York192
Ohio160
Oklahoma55
Oregon53
Pennsylvania170
Rhode Island13
South Carolina90
South Dakota15
Tennessee105
Texas433
Utah28
Virginia96
Vermont13
Washington122
Wisconsin75
West Virginia38
Wyoming11
International22
Total5,201

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