Backus Foundation Inc in Norwich, Connecticut (CT)

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Backus Foundation Inc
Employer Identification Number (EIN)222481795
Name of OrganizationBackus Foundation Inc
Address326 Washington St, Norwich, CT 06360-2740
ActivitiesFundraising
SubsectionCharitable Organization
Ruling Date03/1984
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 Period10/2009
Assets$0
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$52,575,219
Amount of Income$119,577
Form 990 Revenue Amount$119,577
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Single Organization Support


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Amount of income in 2009: $119,577
Backus Foundation Inc: 

 $119,577
Other organizations performing similar types of work: 

 $6,088,020

Assets in 2009: $52,575,219
Backus Foundation Inc: 

 $52,575,219
Other organizations performing similar types of work: 

 $26,323,448

Expenses in 2006: $3,711,595
This organization: 

 $3,711,595
Other organizations performing similar types of work: 

 $1,941,347

Income to expenses ratio in 2006: 1.8
Backus Foundation Inc: 

 1.8
Other organizations performing similar types of work: 

 2.7

Expenses allocated to program services in 2006: 83.7%
This organization: 

 83.7%
Other organizations performing similar types of work: 

 84.3%

Employees paid over $50,000 in 2006: 100.0%
Backus Foundation Inc: 

 100.0%
Other organizations performing similar types of work: 

 40.0%

Grants share in income in 2006: 16.0%
This organization: 

 16.0%
Other organizations performing similar types of work: 

 18.7%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012006
Total revenue$3,796,621$1,651,134$6,803,295
Contributions, gifts, grants, and similar amounts received$1,600,071$437,407$1,089,319
Contributions to donor advised funds$0
Direct public support$1,419,525$437,407$1,089,319
Indirect public support$180,546$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$25,729$19,009$4,049
Dividends and interest from securities$1,997,743$1,038,821$1,256,381
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$64,055$57,922$0
Gain or (loss) from sales of assets other than inventory$109,023$97,975$4,453,546
Gross amount from sales of assets other than inventory$1,858,260$633,097$9,290,949
Less: cost or other basis and sales expenses$1,749,237$535,122$4,837,403
Net income or (loss) from special events and activities$0$0$0
Gross revenue$43,398$88,221$77,765
Less: direct expenses other than fundraising expenses$43,398$88,221$77,765
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$778,167$1,312,370$3,711,595
Program services$436,243$716,098$3,107,051
Management and general$171,685$341,185$285,644
Fundraising$170,239$255,087$318,900
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$38,261,381$34,076,742$52,575,219
Excess or (deficit) for the year$3,018,454$338,764$3,091,700
Net assets or fund balances at beginning of year$40,957,377$38,261,381$48,491,707
Other changes in net assets or fund balances$-5,714,450$-4,523,403$991,812
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,711,595$3,107,051$285,644$318,900
Grants paid from donor advised funds$0
Other grants and allocations$3,010,013
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
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$175,781$0$84,375$91,406
Pension plan contributions not included above$1,558$0$1,558$0
Employee benefits not included above$26,978$0$12,949$14,029
Payroll taxes$12,661$0$6,077$6,584
Professional fundraising fees$0$0$0$0
Accounting fees$15,790$0$15,790$0
Legal fees$0$0$0$0
Supplies$4,693$0$4,693$0
Telephone$0$0$0$0
Postage and shipping$72,927$0$0$72,927
Occupancy$33,295$0$33,295$0
Equipment rental and maintenance$8,164$0$8,164$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$349,735$97,038$118,743$133,954
Balance Sheets
200020012006
Total assets$38,612,635$34,440,217$53,035,032
Cash - non-interest-bearing$0$15,500$0
Savings and temporary cash investments$1,498,640$2,081,323$552,629
Accounts receivable less allowance for doubtful accounts$0$0$1,558,393
Pledges receivable less allowance for doubtful accounts$576,042$282,382$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$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
Other notes and loans receivable less allowance for doubtful accounts$165,656$157,573$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities$0
Investments - other securities$34,347,270$30,223,784$48,056,924
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$2,025,027$1,679,655$2,867,086
Total liabilities$351,254$363,475$459,813
Accounts payable and accrued expenses$309,940$226,459$374,180
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$41,314$137,016$85,633
Total liabilities and net assets/fund balances$38,612,635$34,440,217$53,035,032
Total net assets or fund balances$38,261,381$34,076,742$52,575,219
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012006
Total revenue$3,796,621$1,651,134$6,803,295
Total revenue, gains, and other support per audited financial statements$-1,935,829$-2,998,188$7,720,810
Other expenses$-5,714,450$-4,424,232$1,004,834
Net unrealized gains on investments$-5,421,313$-4,056,713$673,914
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$-293,137$-367,519$330,920
Other revenue$18,000$225,090$87,319
Investment expenses$18,000$94,025$87,340
Other$0$131,065$-21
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012006
Total expenses$778,167$1,312,370$3,711,595
Total expenses and losses per audited financial statements$760,167$808,285$3,637,298
Other revenue$0$0$77,765
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$77,765
Other expenses$18,000$504,085$152,062
Investment expenses$18,000$94,025$87,340
Other$0$410,060$64,722
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
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?Yes
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, 20062
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$5,713,976$0
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)$4,049$0
Dividends and interest from securities000000$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)$1,256,381$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$000$0$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))$4,453,546$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$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$77,850$24,113$0
$71,916$12,193$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
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?No
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$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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 isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920002005
Total$2,005,518$3,687,598$3,197,469
Gifts, grants, and contributions received$503,664$1,600,071$1,959,211
Membership fees received$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
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$1,442,648$2,023,472$1,238,258
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$59,206$64,055$0
Lobbying Expenditures by Electing Public Charities (for 2006)
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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3Bridgeport Hospital Foundation Inc267 Grant St, Bridgeport, CT 06610-2805CT1988-10$20,629,160
4St Vincents Foundation Inc2800 Main St, Bridgeport, CT 06606-4201CT1946-03$11,853,147
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7Perryridge Corporation5 Perryridge Rd, Greenwich, CT 06830-4608CT1989-10$4,392,739
8The Greenwich Hospital Endowment Fund5 Perryridge Rd, Greenwich, CT 06830-4608CT1998-11$4,355,759
9Backus Foundation Inc326 Washington St, Norwich, CT 06360-2740CT1984-03$119,577
10Norwalk Hospital Volunteers405 Hill Farm Rd, Fairfield, CT 06824-2131CT1984-01$64,016
11Caresource Management Group Co230 N Main St, Dayton, OH 45402-1263OH2003-06$387,634,367
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18Hertzler Halstead Hospital Auxiliary Inc710 Pine St, Halstead, KS 67056-2422KS2001-03$0
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20Man Area Health Care Incorporated26 1/2 Main Ave, Logan, WV 25601-3331WV2003-03$0
Number of organizations performing similar types of work
Alaska1
Alabama5
Arkansas5
Arizona2
California36
Colorado8
Connecticut10
District of Columbia2
Delaware1
Florida18
Georgia5
Hawaii3
Iowa10
Idaho2
Illinois25
Indiana10
Kansas5
Kentucky4
Louisiana9
Massachusetts13
Maryland18
Maine6
Michigan12
Minnesota7
Missouri13
Mississippi3
North Carolina15
North Dakota1
Nebraska5
New Hampshire1
New Jersey14
New Mexico2
Nevada1
New York27
Ohio37
Oklahoma3
Oregon2
Pennsylvania30
Rhode Island9
South Carolina3
South Dakota2
Tennessee5
Texas22
Virginia18
Washington9
Wisconsin6
West Virginia5
Total450

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