Sea Scout Base Galveston in Galveston, Texas (TX)

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Sea Scout Base Galveston
Employer Identification Number (EIN)453560703
Name of OrganizationSea Scout Base Galveston
In Care of NameEdward Carrette
Address7509 Broadway St, Galveston, TX 77554-8921
SubsectionCharitable Organization
Ruling Date02/2012
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$21,125,940
Amount of Income$9,959,938
Form 990 Revenue Amount$20,852,071
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Swimming, Water Recreation


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Amount of income in 2013: $9,959,938 (it was $20,852,071 in 2012)
Sea Scout Base Galveston: 

 $9,959,938
Other organizations performing similar types of work: 

 $81,788

Assets in 2013: $21,125,940 (it was $20,620,718 in 2012)
Sea Scout Base Galveston: 

 $21,125,940
Other organizations performing similar types of work: 

 $33,448

Expenses in 2013: $778,437
Sea Scout Base Galveston: 

 $778,437
Other organizations performing similar types of work: 

 $75,206

Income to expenses ratio in 2013: 12.8
This organization: 

 12.8
Other organizations performing similar types of work: 

 0.9

Grants share in income in 2013: 13.6%
This organization: 

 13.6%
Other organizations performing similar types of work: 

 78.3%

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$1,269,160$9,768,566$69,105
Contributions, gifts, grants, etc., received$172,000
Interest on savings and temporary cash investments$13
Dividends and interest from securities$67,402
Gross rents$0
Gross sales price for all assets$9,718,833
Gross profit from sales of goods$0
Other income$1,690
Other$1,028,055
Total expenses and disbursements$778,437$10,854$10,854$695,922
Compensation of officers, directors, trustees, etc.$23,500
Pension plans, employee benefits$14,310
Legal fees$80,709
Accounting fees$44,319
Interest$0
Depreciation$71,661
Occupancy$27,445
Travel, conferences, and meetings$9,979
Printing and publications$1,683
Total operating and administrative expenses$778,437$10,854$695,922
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$490,723
Net investment income$9,757,712
Adjusted net income$58,251
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$1$0$20,620,718$20,510,994$21,125,940$21,125,940
Cash - non-interest-bearing$0$39,350$64,645
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$8,690,778$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$30,010$24,008
Total liabilities$0$0$14,499
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$0$20,620,718$21,111,441
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$0$1,028,055
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$97,577
Total credits and payments$0$0$98,000
Current year estimated tax payments and previous year's overpayment credited to current year$0$0$98,000
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0$0
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$0$0$856
Tax due$0$0$433
Overpayment$0$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?NoNoNo
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?NoNoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNoNo
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?NoYesYes
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?NoYesNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNoNo
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?NoNoYes
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?NoNoNo
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?NoNoNo
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?NoNoNo
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?NoNoNo
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?NoNoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$1,289,540$7,364,365
Net value of noncharitable-use assets$0$1,270,197$7,253,900
Minimum investment return$0$63,510$362,695
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$58,251$1,003$0$0$59,254
Qualifying distributions made directly for active conduct of exempt activities$14,474,739$2,896,145$0$0$17,370,884
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$241,796$42,340$0$0$284,136
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$13$0
Dividends and interest from securities$67,402$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
1University Swim ClubPo Box 10442, Knoxville, TN 37939-0442TN2007-02$43,203
2Sea Scout Base Galveston7509 Broadway St, Galveston, TX 77554-8921TX2012-02$9,959,938
3Katy Aquatic Team For Youth Inc, Katy Aquatics Summer Team5506 First Street Ave, Katy, TX 77493TX2001-08$1,788,163
4Jacksboro Community Pool Project302 S Main St, Jacksboro, TX 76458-2322TX2012-06$570,153
5Eagle Aquatics Inc, Eagle Swimming Association6942 Fm 1960 Rd E, Humble, TX 77346-2706TX2009-05$379,954
6What Swim Club Inc1127 Eldridge Pkwy Pmb 300158, Houston, TX 77077-1771TX2009-09$287,074
7Rise Adventures IncPO BOX 141122, Irving, TX 75014TX2007-08$262,329
8Sienna Plantation Aquatics Inc6140 Highway 6, Missouri City, TX 77459-3802TX2006-06$242,496
9Rusty Spur Saloon & Steakhouse Private Club600 S Main St, Seymour, TX 76380-3010TX2013-08$214,912
10Texas Terrapins Swim TeamPo Box 2576, Cypress, TX 77410TX2010-09$202,578
11Gulf Coast Youth Sailing Association3620 Del Monte Dr, Houston, TX 77019-3100TX2009-07$176,025
12Parati Competitive RowingPO BOX 8164, Spring, TX 77387-8164TX2013-11$122,829
13Dallas Rowing ClubPO BOX 7309, Dallas, TX 75209-0309TX2000-10$118,138
14West Houston Aquatic League Inc20227 Pittsford Dr, Katy, TX 77450TX2003-01$110,320
15Elite Swim Program109 Midway Dr W, Euless, TX 76039-3618TX2011-12$104,209
16Rockport Yacht ClubPO BOX 264, Rockport, TX 78381-0264TX2002-11$101,450
17Csa Synchro, Cygnets Of San AntonioPO BOX 6208, San Antonio, TX 78209-0208TX2010-03$100,722
18Platinum Aquatics14211 Windy Ridge Ln, Rosharon, TX 77583TX2013-03$99,225
19Laredo Tritons Swim Club Inc, Laredo Swim ClubC/O Po Box 450398, Laredo, TX 78045TX2011-02$95,722
20Power For Life Aquatics22526 Cove Hollow Dr, Katy, TX 77450-5836TX2012-11$94,569
Number of organizations performing similar types of work
Alaska27
Alabama20
Arkansas10
Arizona45
California413
Colorado64
Connecticut38
District of Columbia6
Delaware9
Florida173
Georgia37
Hawaii57
Iowa23
Idaho15
Illinois66
Indiana74
Kansas16
Kentucky34
Louisiana13
Massachusetts62
Maryland71
Maine14
Michigan92
Minnesota45
Missouri36
Mississippi8
Montana11
North Carolina65
North Dakota3
Nebraska11
New Hampshire23
New Jersey52
New Mexico18
Nevada17
New York143
Ohio77
Oklahoma9
Oregon52
Pennsylvania94
Rhode Island8
South Carolina17
South Dakota13
Tennessee36
Texas216
Utah22
Virginia101
Vermont8
Washington79
Wisconsin78
West Virginia8
Wyoming12
International10
Total2,651

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