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 Period09/2014
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$2,502,391
Amount of Income$1,105,987
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 2014: $1,105,987 (it was $754,739 in 2012)
Walter Payne Foundation: 

 $1,105,987
Other organizations performing similar types of work: 

 $105,507

Assets in 2014: $2,502,391 (it was $2,318,222 in 2012)
This organization: 

 $2,502,391
Other organizations performing similar types of work: 

 $324,979

Expenses in 2012: $171,471
This organization: 

 $171,471
Other organizations performing similar types of work: 

 $49,065

Income to expenses ratio in 2012: 6.4
Walter Payne Foundation: 

 6.4
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 0.0%
Walter Payne Foundation: 

 0.0%
Other organizations performing similar types of work: 

 100.0%

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$172,895$172,895$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$51
Dividends and interest from securities$50,931
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$121,913
Total expenses and disbursements$171,471$46,040$0$122,115
Compensation of officers, directors, trustees, etc.$31,797
Total operating and administrative expenses$66,471$46,040$17,115
Contributions, gifts, grants paid$105,000
Excess of revenue over expenses and disbursements$1,424
Net investment income$126,855
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$2,318,222$2,801,415
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$2,225,669
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$92,553
Total liabilities$0
Total liabilities and net assets/fund balances$2,318,222
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$121,913
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$2,537
Total credits and payments$0
Any penalty for underpayment of estimated tax$57
Tax due$2,594
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$2,605,384
Net value of noncharitable-use assets$2,566,300
Minimum investment return$128,315
Distributable Amount (for 2012)
Distributable amount$125,778
Undistributed Income (for 2012)
Distributable amount for 2012$125,778
Undistributed income for 2012. This amount must be distributed in 2013$107,491
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
1Suntrust Foundation919 E Main St Fl 13, Richmond, VA 23219-4622VA1974-01$119,207,230
2The Richard And Leslie Gilliam Foundation650 Peter Jefferson Pkwy Ste 230, Charlottesville, VA 22911-8845VA2006-06$38,062,647
3Wise FoundationPO BOX 557, Marshall, VA 20116-0557VA1999-08$11,791,992
4Scheidel Foundation, Scheidel Herbert W Ttee Et Al1220 N Fillmore St Ste 400, Arlington, VA 22201-6501VA1999-12$8,595,635
5Culp Family Foundation8405 Greensboro Dr 7th Fl, Mclean, VA 22102-5104VA2013-01$8,025,033
6Neall Family Charitable Foundation, Macdonald Rhonda J Ttee2071 Chain Bridge Rd Ste 320, Vienna, VA 22182-2622VA2014-02$6,023,457
7Reinsch Pierce Family Foundation Inc2040 Columbia Pike, Arlington, VA 22204-6236VA2004-02$5,079,571
8Virginia Institute Of Autism Incorporated1414 Westwood Rd, Charlottesvle, VA 22903-5149VA2001-03$4,860,563
9Lilyhawk Foundation999 Waterside Dr, Norfolk, VA 23510-3300VA2013-02$4,661,070
10Sportsquest Foundation1001 Boulders Pkwy Ste 300, Richmond, VA 23225-5512VA2007-12$4,568,795
11The Mcgue Millhiser Family TrustPO BOX 1535, Richmond, VA 23218-1535VA2004-04$4,404,355
12Notzing Foundation258 E High St, Charlottesvle, VA 22902-5178VA2012-09$4,131,745
13Fagus FoundationPO BOX 1395, Middleburg, VA 20118-1395VA2008-03$3,806,726
14Volgenau Charitable Foundation8300 Greensboro Dr Ste 1025, Mclean, VA 22102-3605VA2011-07$3,805,012
15Constitution Foundation, Saylor Michael J Ttee1861 International Dr, Mclean, VA 22102-4409VA1999-07$3,376,036
16Vicky Collins Charitiable Foundation IncC/O David Sher 3800 N Fairfax Drive, Arlington, VA 22203VA2005-02$3,217,788
17Vinoskey Family Foundation13150 E Lynchburg-Salem Turnpike, Forest, VA 24551-4328VA2008-02$2,740,300
18Sellier Family Foundation3 Clarks Branch Rd, Great Falls, VA 22066-4157VA2012-02$2,610,366
19Warfield Foundation Inc101 W Main Street, Norfolk, VA 23510-1646VA2008-02$2,371,045
20Dean And Cam Williams Foundation675 Peter Jefferson Pkwy Ste 250, Charlottesvle, VA 22911-4656VA2013-07$2,177,168
Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia482
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
Total22,396

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