Walter Payne Foundation in Richmond, Virginia (VA)

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Walter Payne Foundation
Employer Identification Number (EIN)010626611
Name of OrganizationWalter Payne Foundation
In Care of NameJames E Crawley
Address11405 Harcourt Ter, Richmond, VA 23233-1775
SubsectionCharitable Organization
Ruling Date01/2003
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2012
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$2,318,222
Amount of Income$754,739
Form 990 Revenue Amount$138,877
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2012: $754,739 (it was $994,789 in 2011)
Walter Payne Foundation: 

 $754,739
Other organizations performing similar types of work: 

 $97,434

Assets in 2012: $2,318,222 (it was $2,317,766 in 2011)
This organization: 

 $2,318,222
Other organizations performing similar types of work: 

 $303,611

Financial snapshot ($)

Revenue for 2011

Expenses for 2011

Assets for 2011

Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$138,877$138,877$63,297
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$81
Dividends and interest from securities$53,975
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$84,821
Total expenses and disbursements$172,948$45,261$3,387$124,300
Compensation of officers, directors, trustees, etc.$31,969
Total operating and administrative expenses$65,948$45,261$17,300
Contributions, gifts, grants paid$107,000
Excess of revenue over expenses and disbursements$-34,071
Net investment income$93,616
Adjusted net income$59,910
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$2,317,766$2,409,352
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$2,240,967
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$76,799
Total liabilities$0
Total liabilities and net assets/fund balances$2,317,766
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$84,821
Net capital loss$0
Excise Tax Based on Investment Income (for 2011)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$1,872
Total credits and payments$185
2011 estimated tax payments and 2010 overpayment credited to 2011$185
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$31
Tax due$1,718
Amount to be credited to 2012 estimated tax$0
Statements Regarding Activities (for 2011)
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 2011 or the taxable year beginning in 2011?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2011)
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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011?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 2011)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$2,500,353
Net value of noncharitable-use assets$2,462,840
Minimum investment return$123,142
Distributable Amount (for 2011)
Distributable amount$121,270
Undistributed Income (for 2011)
Distributable amount for 2011$121,270
Undistributed income for 2011. This amount must be distributed in 2012$103,828
Private Operating Foundations (for 2011)
2011201020092008Total
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
1Suntrust Foundation919 E Main St Fl 13, Richmond, VA 23219-4622VA1974-01$78,953,776
2The Richard And Leslie Gilliam Foundation650 Peter Jeff Pkwy Ste 230, Charlottesvle, VA 22911-8845VA2006-06$55,246,028
3Wise FoundationPO BOX 557, Marshall, VA 20116-0557VA1999-08$10,037,973
4Rimora Foundation1065 Wood Ln, Charlottesvle, VA 22901-5038VA2012-05$7,750,000
5Reinsch Pierce Family Foundation Inc2040 Columbia Pike, Arlington, VA 22204-6236VA2004-02$6,418,646
6Sportsquest Foundation1001 Boulders Pkwy Ste 300, Richmond, VA 23225-5512VA2007-12$4,568,795
7Tesco Foundation2001 Maywill St Ste 100, Richmond, VA 23230-3236VA2011-02$3,224,963
8Virginia Institute Of Autism Incorporated1414 Westwood Rd, Charlottesvle, VA 22903-5149VA2001-03$3,194,831
9Warfield Foundation Inc501 Independence Pkwy Ste 201, Chesapeake, VA 23320-5174VA2008-02$1,959,881
10Vicky Collins Charitiable Foundation IncC/O David Sher 3800 N Fairfax Drive, Arlington, VA 22203VA2005-02$1,805,426
11Newmarket Foundation330 S 4th St, Richmond, VA 23219-4350VA2010-10$1,746,855
12The Malchow Weigert Foundation3442 Roberts Ln, Arlington, VA 22207-5335VA2005-07$1,692,544
13Sellier Family Foundation3 Clarks Branch Rd, Great Falls, VA 22066-4157VA2012-02$1,594,005
14Roberts Family Foundation1390 Chain Bridge Road No 150, Mclean, VA 22101-3904VA2007-04$1,410,725
15Jain Family Foundation10421 Lawyers Rd, Vienna, VA 22181-2822VA2010-10$1,054,391
16Vincent Wilkinson Foundation, Welters Anthony Et Al Ttee1650 Tysons Blvd Ste 900, Mc Lean, VA 22102-4826VA2004-02$1,003,651
17Constitution Foundation, Saylor Michael J Ttee1861 International Dr, Mclean, VA 22102-4409VA1999-07$987,869
18The Javad K Hassan Foundation Inc44901 Falcon Pl Ste 116, Sterling, VA 20166-9531VA2008-10$940,158
19Adams Family Foundation303 S Loudoun St, Winchester, VA 22601-4637VA2011-06$922,447
20Charles Hardy Grim And Emily Grove Grim Charitable TrustPO BOX 5, Middleburg, VA 20118-0005VA2012-06$912,247
Number of organizations performing similar types of work
Alaska25
Alabama192
Arkansas70
Arizona288
California2,416
Colorado378
Connecticut382
District of Columbia106
Delaware539
Florida1,396
Georgia456
Hawaii80
Iowa165
Idaho53
Illinois1,024
Indiana284
Kansas148
Kentucky156
Louisiana146
Massachusetts669
Maryland401
Maine82
Michigan596
Minnesota362
Missouri307
Mississippi62
Montana62
North Carolina519
North Dakota20
Nebraska159
New Hampshire72
New Jersey843
New Mexico87
Nevada190
New York2,482
Ohio691
Oklahoma217
Oregon198
Pennsylvania1,160
Rhode Island172
South Carolina161
South Dakota27
Tennessee240
Texas1,146
Utah259
Virginia453
Vermont52
Washington359
Wisconsin355
West Virginia66
Wyoming57
International34
Total20,864

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