Bucks County Foundation in Philadelphia, Pennsylvania (PA)

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Bucks County Foundation
Employer Identification Number (EIN)239031005
Name of OrganizationBucks County Foundation
In Care of NamePnc Bank Na-Trustee
AddressTax Department, Philadelphia, PA 19103
SubsectionCharitable Organization
Ruling Date04/1999
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$12,189,855
Amount of Income$1,575,899
Form 990 Revenue Amount$1,575,899
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $1,575,899
Bucks County Foundation: 

 $1,575,899
Other organizations performing similar types of work: 

 $18,946,686

Assets in 2013: $12,189,855
This organization: 

 $12,189,855
Other organizations performing similar types of work: 

 $79,452,997

Expenses in 2012: $523,865
Bucks County Foundation: 

 $523,865
Other organizations performing similar types of work: 

 $5,721,898

Income to expenses ratio in 2012: 3.0
Bucks County Foundation: 

 3.0
Other organizations performing similar types of work: 

 3.1

Expenses allocated to program services in 2007: 70.7%
This organization: 

 70.7%
Other organizations performing similar types of work: 

 87.6%

Number of employees in 2012: 1
This organization: 

 1
Other organizations performing similar types of work: 

 12

Grants share in income in 2012: 1.6%
This organization: 

 1.6%
Other organizations performing similar types of work: 

 66.9%

Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$1,172,931
Contributions, Gifts, Grants and Other Similar Amounts$19,248
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$256,260
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$897,248
Gross amount from sales of assets other than inventory (Securities / Other)$897,248 / $0
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0
Gain or (loss) (Securities / Other)$897,248 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$175
Statement of Functional Expenses (for 2012)
Total functional expenses$523,865
Compensation of current officers, directors, trustees, and key employees$168,628
Other salaries and wages$0
Payroll taxes$6,311
Professional fundraising services$0
Other$348,926
Balance Sheet (for 2012)
Total assets$11,116,077
Total liabilities$77,868
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$77,868
Total net assets or fund balances$11,038,209
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:A community trust described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2012)
2008 - 2012 Total
Total Support$1,472,336
Gifts, grants, contributions, and membership fees received$266,743
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,205,593
Gross receipts from related activities, etc.$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20032004200520062007
Total revenue$3,629,270$1,041,481$421,402$632,741$1,027,458
Contributions, gifts, grants, and similar amounts received$3,498,786$814,707$43,818$115,577$192,623
Contributions to donor advised funds$0$0
Direct public support$3,498,786$814,707$43,818$115,577$192,623
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$534$0$139
Dividends and interest from securities$0$0$0$0$0
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$91,206$130,395$174,065$194,623$207,299
Gain or (loss) from sales of assets other than inventory$39,278$96,379$202,985$322,541$626,611
Gross amount from sales of assets other than inventory$39,278$475,923$271,549$361,173$698,852
Less: cost or other basis and sales expenses$0$379,544$68,564$38,632$72,241
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$0$786
Total expenses$85,221$341,382$363,285$362,627$401,758
Program services$66,494$222,845$261,667$245,102$284,047
Management and general$18,727$118,537$85,396$99,041$99,613
Fundraising$0$0$16,222$18,484$18,098
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$5,923,203$6,707,903$7,516,617$8,001,159$8,577,501
Excess or (deficit) for the year$3,544,049$700,099$58,117$270,114$625,700
Net assets or fund balances at beginning of year$2,360,001$5,923,203$6,707,903$7,516,617$8,001,159
Other changes in net assets or fund balances$19,153$84,601$750,597$214,428$-49,358
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$401,758$284,047$99,613$18,098
Grants paid from donor advised funds$0
Other grants and allocations$247,850
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$122,993$32,137$74,788$16,068
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$3,000$1,500$750$750
Employee benefits not included above$727$0$727$0
Payroll taxes$5,120$2,560$1,280$1,280
Professional fundraising fees$0$0$0$0
Accounting fees$4,500$0$4,500$0
Legal fees$4,072$0$4,072$0
Supplies$0$0$0$0
Telephone$1,040$0$1,040$0
Postage and shipping$554$0$554$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$3,269$0$3,269$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$459$0$459$0
Other expenses not covered above$8,174$0$8,174$0
Balance Sheets
20032004200520062007
Total assets$5,923,203$6,707,903$7,516,617$8,001,159$8,577,501
Cash - non-interest-bearing$0$101,280$51,276$10,283$6,349
Savings and temporary cash investments$0$0$36,332$0$17,023
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0
Investments - publicly-traded securities$7,536,820$7,960,239
Investments - other securities$5,923,203$6,606,623$7,427,978$453,484$593,776
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$1,031$572$114
Other assets, including program-related investments$0$0$0$0$0
Total liabilities$0$0$0$0$0
Accounts payable and accrued expenses$0$0$0$0$0
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0
Other liabilities$0$0$0$0$0
Total liabilities and net assets/fund balances$5,923,203$6,707,903$7,516,617$8,001,159$8,577,501
Total net assets or fund balances$5,923,203$6,707,903$7,516,617$8,001,159$8,577,501
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20032004200520062007
Total revenue$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0
Other expenses$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20032004200520062007
Total expenses$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$0$0$0
Investment expenses$0$0$0$0$0
Other$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
0$29,768$0$0
0$11,748$0$0
0$17,203$0$0
40$64,274$3,000$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings8
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20061
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$834,049$786
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$139$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$207,299$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$626,611$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$786
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$2
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$53,285
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isCommunity Trust
Support Schedule
20022003200420052006
Total$76,514$91,206$945,102$212,883$400,061
Gifts, grants, and contributions received$0$0$814,707$38,818$192,623
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$76,514$91,206$130,395$174,065$207,438
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Number of organizations performing similar types of work
Alabama2
Arizona2
California24
Colorado4
Connecticut8
District of Columbia1
Delaware1
Florida14
Georgia2
Hawaii1
Iowa5
Idaho1
Illinois10
Indiana17
Kansas4
Kentucky2
Louisiana2
Massachusetts5
Maryland2
Maine1
Michigan17
Minnesota9
Missouri5
Mississippi3
Montana2
North Carolina9
North Dakota1
Nebraska2
New Hampshire1
New Jersey5
New York14
Ohio20
Oklahoma2
Oregon1
Pennsylvania14
South Carolina6
South Dakota3
Tennessee4
Texas28
Utah1
Virginia7
Vermont1
Washington5
Wisconsin9
West Virginia2
International1
Total280

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