Frank M & Olive E Gilman Foundation Inc in White Riv Jct, Vermont (VT)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Other organizations in Vermont
| Frank M & Olive E Gilman Foundation Inc | |
| Employer Identification Number (EIN) | 030330527 |
| Name of Organization | Frank M & Olive E Gilman Foundation Inc |
| In Care of Name | Reginald Jones |
| Address | PO BOX 979, White Riv Jct, VT 05001-0979 |
| Activities | Gifts, grants, or loans to other organizations, Other student aid |
| Subsection | Charitable Organization |
| Ruling Date | 10/1991 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $34,292,524 |
| Amount of Income | $7,719,278 |
| Form 990 Revenue Amount | $1,603,437 |
Non-representatives - add comments:
Revenue for 2012
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $945,836 | $606,421 | $0 | |
| Contributions, gifts, grants, etc., received | $500,000 | |||
| Interest on savings and temporary cash investments | $99 | |||
| Dividends and interest from securities | $666,542 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $2,249 | |||
| Total expenses and disbursements | $2,181,473 | $195,828 | $0 | $1,982,706 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $226,473 | $195,828 | $27,706 | |
| Contributions, gifts, grants paid | $1,955,000 | |||
| Excess of revenue over expenses and disbursements | $-1,235,637 | |||
| Net investment income | $410,593 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $33,400,709 | $36,137,856 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $767,782 | |
| Investments-corporate stock | $22,156,037 | |
| Investments-corporate bonds | $2,961,895 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $6,001,806 | |
| Other | $1,513,189 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $33,400,709 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-223,054 |
| 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 | $4,106 |
| Total credits and payments | $17,966 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $17,966 |
| 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 | $0 |
| Tax due | $0 |
| Overpayment | $13,860 |
| Amount to be credited to 2013 estimated tax | $13,860 |
| 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? | Yes |
| 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 | $35,921,970 |
| Net value of noncharitable-use assets | $35,383,140 |
| Minimum investment return | $1,769,157 |
| Distributable Amount (for 2012) | |
| Distributable amount | $1,765,051 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $1,765,051 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| 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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| Other organizations in Vermont | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Foundation For Pediatrics And Pediatric Hematology & Oncology | 1370 Spear St, Charlotte, VT 05445-9284 | VT | 1999-02 | $36,246 |
| 2 | Foundation Mapping Project Inc | PO BOX 158, S Strafford, VT 05070-0158 | VT | 2005-06 | $7,281 |
| 3 | Four Angels Foundation | 255 Thompson Rd, Shelburne, VT 05482-6805 | VT | 2007-12 | $10,795 |
| 4 | Four Winds Nature Instituteincorporated | 4 Casey Rd, Chittenden, VT 05737-9807 | VT | 2007-04 | $308,279 |
| 5 | Fourth Corner Foundation Inc | 578 Hitchcock Hill Rd, Windham, VT 05359-9653 | VT | 1998-08 | $116,562 |
| 6 | Foxcroft Farm Harvest Program Inc | 898 Delorm Rd, Brandon, VT 05733-9464 | VT | 2000-09 | $179,567 |
| 7 | Francis Foundation Inc | 382 Hercules Dr, Colchester, VT 05446-5807 | VT | 2000-09 | $2,570,580 |
| 8 | Francis Home Providers Services Inc | 382 Hercules Dr Ste 6, Colchester, VT 05446-5807 | VT | 2004-02 | $942,600 |
| 9 | Frank And Brinna Sands Foundation | 319 Cadwell Rd, East Thetford, VT 05043-9526 | VT | 1997-05 | $24,734 |
| 10 | Frank E England Scholarship Fund Tr | PO BOX 120, Newport, VT 05855-0120 | VT | 1993-06 | $96,324 |
| 11 | Frank M & Olive E Gilman Foundation Inc | PO BOX 979, White Riv Jct, VT 05001-0979 | VT | 1991-10 | $7,719,278 |
| 12 | Franklin County Board Of Realtors Inc | PO BOX 70, St Albans, VT 05478-0070 | VT | 1979-11 | $33,995 |
| 13 | Franklin County Caring Communities Inc, Caring Communities Fccc | 39 Barlow Street, Saint Albans, VT 05478 | VT | 2007-09 | $133,194 |
| 14 | Franklin County Court Diversion Inc | 5 Lemnah Dr, St Albans, VT 05478-2382 | VT | 1995-11 | $169,570 |
| 15 | Franklin County Field Days Inc 195 No Main St | 1668 Potato Hill Rd, Enosburg Fls, VT 05450-4416 | VT | $273,843 | |
| 16 | Franklin County Home Health Agency Inc | 3 Home Health Cir, St Albans, VT 05478-9737 | VT | 1971-02 | $8,222,032 |
| 17 | Franklin County Humane Society Inc | 30 Sunset Mdws, Saint Albans, VT 05478-1932 | VT | 1982-04 | $398,696 |
| 18 | Franklin County Regional Chamber Of Commerce Inc, Am Deisch & Co | Chamber Of Commerce 2 N Main St Sui, St Albans, VT 05478 | VT | 1963-09 | $173,706 |
| 19 | Franklin County Senior Center Inc | 75 Messenger St, Saint Albans, VT 05478-1522 | VT | 1976-04 | $192,748 |
| 20 | Franklin Fire & Rescue Inc | PO BOX 182, Franklin, VT 05457-0182 | VT | 2004-11 | $95,551 |
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