Sarah G Austin Foundation Inc in Southport, Connecticut (CT)
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
- Organizations performing similar types of work
| Sarah G Austin Foundation Inc | |
| Employer Identification Number (EIN) | 061442201 |
| Name of Organization | Sarah G Austin Foundation Inc |
| In Care of Name | Palsa & Palsa Llc |
| Address | C/O Palsa Palsa Llc 230 Spruce St, Southport, CT 06890 |
| Activities | Art exhibit |
| Subsection | Charitable Organization |
| Ruling Date | 03/1996 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $25,000 to $99,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $29,468 |
| Amount of Income | $2 |
| Form 990 Revenue Amount | $15,283 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Art Museums |
Non-representatives - add comments:
Amount of income in 2014: $2 (it was $19,385 in 2012)
| This organization: | $2 |
| Other organizations performing similar types of work: | $121,366 |
Assets in 2014: $29,468 (it was $24,560 in 2012)
| This organization: | $29,468 |
| Other organizations performing similar types of work: | $286,656 |
Expenses in 2012: $31,300
| This organization: | $31,300 |
| Other organizations performing similar types of work: | $84,708 |
Income to expenses ratio in 2012: 0.0
| Sarah G Austin Foundation Inc: | 0.0 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2012: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 39.7% |
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 | $15,283 | $5 | $5 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $5 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $15,278 | |||
| Gross sales less returns and allowances | $11,176 | |||
| Less: Cost of goods sold | $4,102 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $31,300 | $0 | $0 | $30,000 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $1,300 | $0 | $0 | |
| Contributions, gifts, grants paid | $30,000 | |||
| Excess of revenue over expenses and disbursements | $-16,017 | |||
| Net investment income | $5 | |||
| Adjusted net income | $5 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $24,560 | $24,560 |
| Cash - non-interest-bearing | $20,458 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $4,102 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $24,560 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| 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 | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $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? | Yes |
| 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 | $30,518 |
| Net value of noncharitable-use assets | $30,060 |
| Minimum investment return | $1,503 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| 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 | $5 | $0 | $0 | $0 | $5 |
| Qualifying distributions made directly for active conduct of exempt activities | $30,000 | $0 | $0 | $0 | $30,000 |
| Value of all assets | $1 | $40,582 | $19,359 | $21,171 | $81,112 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $40,582 | $19,359 | $21,171 | $81,112 |
| 2/3 of minimum investment return | $1,002 | $0 | $0 | $0 | $1,002 |
| 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 | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Site Santa Fe | 1606 Paseo De Peralta, Santa Fe, NM 87501-3724 | NM | 1997-11 | $5,146,023 |
| 2 | Lux Art Institute | 1550 S El Camino Real, Encinitas, CA 92024-4908 | CA | 1998-10 | $876,172 |
| 3 | The Clark Center For Japanese Art & Culture | 15770 10th Ave, Hanford, CA 93230-9533 | CA | 1996-06 | $812,914 |
| 4 | Torrance Cultural Arts Center Foundation | 2550 Hawthorne Boulevard, Torrance, CA 90505 | CA | 1994-09 | $308,789 |
| 5 | Masayuki And Harue Tokioka Foundation Inc | 1132 Bishop St Ste 2450, Honolulu, HI 96813-2865 | HI | 1997-04 | $246,019 |
| 6 | West Virginia Museum Of American Glass Ltd | 230 Main Ave, Weston, WV 26452-2044 | WV | 1994-05 | $231,339 |
| 7 | Woman Made | 685 N Milwaukee Ave, Chicago, IL 60642-8021 | IL | 1994-01 | $188,371 |
| 8 | Edmonds Arts Festival Foundation | PO BOX 699, Edmonds, WA 98020-0699 | WA | 1981-05 | $137,791 |
| 9 | Trumbull Art Gallery | PO BOX 888, Warren, OH 44482-0888 | OH | 1960-02 | $121,366 |
| 10 | Sammamish Symphony Orchestra Association | PO BOX 1173, Issaquah, WA 98027-0044 | WA | 1995-07 | $87,766 |
| 11 | Summit County Arts Council, Arts Alive | Po Box 738, Breckenridge, CO 80424 | CO | 1995-03 | $87,490 |
| 12 | West Bend Friends Of Sculpture Inc, C-O John B Torinus Jr | PO BOX 1134, West Bend, WI 53095-8634 | WI | 1990-12 | $60,596 |
| 13 | Artist Guild Of The Santa Ynez Valley | Po Box 1008, Santa Ynez, CA 93460 | CA | 1998-04 | $58,411 |
| 14 | Community Arts Project | PO BOX 285, Hebo, OR 97122-0285 | OR | 1998-08 | $57,767 |
| 15 | Stanly Arts Guild, Falling Rivers Gallery | 119 West Main Street, Albemarle, NC 28001 | NC | 1992-09 | $54,056 |
| 16 | Tifton Museum Of Arts And Heritage Inc | Po Box 7362, Tifton, GA 31793 | GA | 1993-07 | $37,980 |
| 17 | Traveling Wilderness Experience Inc | PO BOX 88, Aquebogue, NY 11931-0088 | NY | 1992-02 | $34,331 |
| 18 | West Tennessee Regional Art Center Inc | 1200 Main Street, Humboldt, TN 38343-3339 | TN | 1993-10 | $34,273 |
| 19 | Sarah G Austin Foundation Inc | C/O Palsa Palsa Llc 230 Spruce St, Southport, CT 06890 | CT | 1996-03 | $2 |
| 20 | Womens Caucus For Art-Connecticut | 54 Rockwell Road, Bethel, CT 06801 | CT | 1995-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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