Herray Foundation in Seattle, Washington (WA)

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Herray Foundation
Employer Identification Number (EIN)461394812
Name of OrganizationHerray Foundation
In Care of NameGretl Galgon
Address816 35th Ave, Seattle, WA 98122-5234
SubsectionCharitable Organization
Ruling Date12/2013
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$5,000,000 to $9,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$7,644,277
Amount of Income$8,785,175
Form 990 Revenue Amount$8,380,171
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $8,785,175
Herray Foundation: 

 $8,785,175
Other organizations performing similar types of work: 

 $105,489

Assets in 2013: $7,644,277
Herray Foundation: 

 $7,644,277
Other organizations performing similar types of work: 

 $325,460

Expenses in 2013: $306,311
Herray Foundation: 

 $306,311
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2013: 28.7
Herray Foundation: 

 28.7
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 91.8%
This organization: 

 91.8%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot for 2013 ($)

Revenue for 2013

Assets at the end of 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$8,380,171$684,213$0
Contributions, gifts, grants, etc., received$7,689,364
Interest on savings and temporary cash investments$29,169
Dividends and interest from securities$132,544
Gross rents$0
Gross sales price for all assets$929,790
Gross profit from sales of goods$0
Other income$4,308
Other$524,786
Total expenses and disbursements$306,311$79,566$0$226,600
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$12,410
Interest$776
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$79,711$79,566$0
Contributions, gifts, grants paid$226,600
Excess of revenue over expenses and disbursements$8,073,860
Net investment income$604,647
Adjusted net income$0
Balance Sheets
2013
Book ValueFair Market Value
Total assets$7,644,277$9,635,055
Cash - non-interest-bearing$1
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$7,553,056
Other assets$0
Total liabilities$1
Mortgages and other notes payable$0
Other liabilities$0
Total liabilities and net assets/fund balances$7,644,277
Capital Gains and Losses for Tax on Investment Income
2013
Capital gain net income$524,786
Net capital loss$0
Excise Tax Based on Investment Income
2013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$6,046
Total credits and payments$11,000
Current year estimated tax payments and previous year's overpayment credited to current year$0
Exempt foreign organizations-tax withheld at source$0
Tax paid with application for extension of time to file (Form 8868)$11,000
Backup withholding erroneously withheld$0
Any penalty for underpayment of estimated tax$77
Tax due$0
Overpayment$4,877
Amount to be credited to next year's estimated tax$4,877
Statements Regarding Activities
2013
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
Has the foundation engaged in any activities that have not previously been reported to the IRS?No
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?No
Has the foundation filed a tax return on Form 990-T for this year?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?No
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?Yes
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?No
Did any persons become substantial contributors during the tax year?Yes
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?No
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?Yes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041No
Statements Regarding Activities for Which Form 4720 May Be Required
2013
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
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?No
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?No
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?No
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?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 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?No
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?No
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?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
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?No
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
Minimum Investment Return
2013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$6,963,976
Net value of noncharitable-use assets$6,859,516
Minimum investment return$342,976
Distributable Amount
2013
Distributable amount$336,930
Undistributed Income
2013
Distributable amount for this year$336,930
Undistributed income for this year. This amount must be distributed in the next year$110,330
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
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$29,169$0
Dividends and interest from securities$132,544$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
1Richard P Haugland Foundation2103 Harrison Ave Nw Pmb 2602, Olympia, WA 98502-2636WA1997-08$174,048,475
2Wilburforce Foundation2034 Nw 56th St Ste 300, Seattle, WA 98107-3429WA1991-06$71,200,596
3The@robert P Rotella Foundation, Rotella Robert P Ttee800 Bellevue Way Ne Ste 200, Bellevue, WA 98004-4229WA2003-05$38,216,937
4Safeco Insurance Foundation1001 4th Ave Ms 1200, Seattle, WA 98154-1119WA2006-11$37,787,855
5Richard And Lois Worthington Foundation15203 Gibralter Rd, Anacortes, WA 98221-8615WA1999-09$13,716,766
6Scan Design By Inge & Jens Bruun Foundation1001 4th Ave Ste 4400, Seattle, WA 98154-1192WA2003-07$11,879,005
7Herray Foundation816 35th Ave, Seattle, WA 98122-5234WA2013-12$8,785,175
8Loeb Charitable Foundation1000 Second Avenue Floor 34, Seattle, WA 98104-1022WA2010-05$7,781,147
9Slingshot Burma FundPo Box 11756, Bainbridge Is, WA 98110WA2009-02$7,140,311
10Southwest Washington Workforce Development Council805 Broadway St Ste 412, Vancouver, WA 98660-3310WA2003-09$5,663,940
11The Yao Yuan Sze Foundation11409 Ne 10th Se, Bellevue, WA 98007WA2001-12$5,645,620
12Sage Foundation14311 Stehr Rd, Arlington, WA 98223-9433WA2004-03$4,965,998
13The Sheri & Les Biller Family Foundation601 Union St Ste 3030, Seattle, WA 98101-2348WA2002-03$4,461,771
14Hanson Family FoundationPO BOX 4246, Bellevue, WA 98009-4246WA2007-01$4,107,593
15The Gunnar And Ruth Lie Foundation3248 Hunts Point Rd, Bellevue, WA 98004-1126WA2001-08$3,788,495
16Jane Isakson Lea Foundation5608 34th Ave Nw, Seattle, WA 98107-3335WA2012-02$3,363,160
17Satya And Rao Remala Foundation, Remala Rao V & Satya K Ttees11808 Northup Way Ste 240, Bellevue, WA 98005-1936WA2000-04$3,165,092
18The@avista Foundation, Anne Marie Axworthy1411 E Mission Ave, Spokane, WA 99202-1902WA2002-09$2,989,704
19William And Pamela Ayer Foundation Tr Agreement, William S Ayer Ttee15829 Se 56th Pl, Bellevue, WA 98006-5322WA2013-08$2,444,596
20Wockner Foundation1111 3rd Ave Ste 800, Seattle, WA 98101-3216WA2005-12$2,163,033
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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