Jks Foundation in Holladay, Utah (UT)

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Jks Foundation
Employer Identification Number (EIN)263948638
Name of OrganizationJks Foundation
Address6440 S Wasatch Blvd Ste 105, Holladay, UT 84121-3559
SubsectionCharitable Organization
Ruling Date05/2011
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$5,703,080
Amount of Income$2,649,323
Form 990 Revenue Amount$1,015,307
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $2,649,323 (it was $33,533 in 2012)
Jks Foundation: 

 $2,649,323
Other organizations performing similar types of work: 

 $105,489

Assets in 2013: $5,703,080 (it was $1,484,107 in 2012)
This organization: 

 $5,703,080
Other organizations performing similar types of work: 

 $325,460

Expenses in 2012: $254,668
This organization: 

 $254,668
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2012: 10.4
Jks Foundation: 

 10.4
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 0.0%
Jks Foundation: 

 0.0%
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$29,114$32,471$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$3
Dividends and interest from securities$32,468
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$254,668$0$0$250,000
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$4,668$0$0
Contributions, gifts, grants paid$250,000
Excess of revenue over expenses and disbursements$-225,554
Net investment income$32,471
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$1,484,107$1,554,241
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$894,050
Investments-corporate bonds$572,491
Investments-mortgage loans$0
Investments-other$0
Other$17,566
Total liabilities$0
Total liabilities and net assets/fund balances$1,484,107
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$0
Net capital loss$-3,357
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?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$1,591,000
Net value of noncharitable-use assets$1,567,140
Minimum investment return$78,357
Distributable Amount (for 2012)
Distributable amount$78,357
Undistributed Income (for 2012)
Distributable amount for 2012$78,357
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
1James Lee Sorenson Family Foundation299 S Main Street, Salt Lake City, UT 84111-1919UT2012-11$8,948,082
2Smartgo Foundation3021 E Chaucer Pl, Salt Lake Cty, UT 84108-2503UT2006-09$3,241,616
3Jks Foundation6440 S Wasatch Blvd Ste 105, Holladay, UT 84121-3559UT2011-05$2,649,323
4The Joanne L Shrontz Family FoundationPO BOX 45385, Salt Lake Cty, UT 84145-0385UT2009-02$2,528,909
5Flynn Family Foundation11222 S Eagle View Dr, Sandy, UT 84092-4976UT2011-08$1,888,115
6The Dolores Robinson Charitable Foundation7994 Stream View Dr, Sandy, UT 84093-6407UT2006-08$1,695,255
7The Esther Foundation IncPO BOX 971810, Orem, UT 84097-1810UT2007-06$1,537,476
8W Mack And Julia S Watkins Foundation, Watkins W Mack Ttee722 Shepard Ln Ste 103, Farmington, UT 84025-3845UT2003-12$1,514,633
9Thomas And Candace Dee Foundation1575 S Devonshire Dr, Salt Lake Cty, UT 84108-2552UT2010-12$1,157,104
10The Mark And Nancy Peterson Foundation539 Blackhawk Ln, Alpine, UT 84004-1825UT2006-12$1,001,734
11Eldan And Shellie Hill Foundation2472 E Evergreen Ave, Salt Lake Cty, UT 84109-3008UT2011-01$858,510
12Barker Family Foundation Inc7410 S Creek Rd Ste 102, Sandy, UT 84093-6151UT2014-05$682,544
13Susan Iieene Wirthlin Foundation2625 E Old Orchard Cir, Holladay, UT 84121-1578UT2005-05$671,450
14Teri And Dean Flanders Foundation2185 Hunters Gln, Layton, UT 84040-3135UT2014-09$600,000
15Thomas Frank Thatcher Foundation673 N New Bonneville Pl, Salt Lake Cty, UT 84103-4281UT2014-09$600,000
16Mellecker Family Foundation3661 Solamere Dr, Park City, UT 84060-8840UT2013-02$572,198
17Douglas J And Geneva H Fife FoundationPO BOX 479, Brigham City, UT 84302-0479UT2012-06$545,832
18Robert F Orr Charitable Foundation8781 S Falcon Heights Ln, Cottonwd Hgts, UT 84093-2104UT2002-01$480,690
19Beverley Taylor Sorenson Foundation299 S Main St Ste 2200, Salt Lake Cty, UT 84111-2288UT2013-11$452,750
20Rasmussen Family Foundation1809 Red Mountain Dr, Santa Clara, UT 84765-5267UT2012-09$450,000
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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