Clements Foundation Inc in Wilmington, Delaware (DE)
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
| Clements Foundation Inc | |
| Employer Identification Number (EIN) | 061480882 |
| Name of Organization | Clements Foundation Inc |
| In Care of Name | C/O Foundation Source |
| Address | Foundation Source 501 Silverside Rd, Wilmington, DE 19809 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 05/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,376,006 |
| Amount of Income | $58,512 |
| Form 990 Revenue Amount | $38,321 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2013: $58,512 (it was $141,100 in 2012)
| This organization: | $58,512 |
| Other organizations performing similar types of work: | $120,160 |
Assets in 2013: $1,376,006 (it was $1,541,592 in 2012)
| Clements Foundation Inc: | $1,376,006 |
| Other organizations performing similar types of work: | $450,518 |
Expenses in 2012: $113,582
| This organization: | $113,582 |
| Other organizations performing similar types of work: | $61,287 |
Income to expenses ratio in 2012: 0.5
| Clements Foundation Inc: | 0.5 |
| Other organizations performing similar types of work: | 7.3 |
Grants share in income in 2012: 54.6%
| Clements Foundation Inc: | 54.6% |
| Other organizations performing similar types of work: | 8.9% |
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 | $91,638 | $41,638 | $0 | |
| Contributions, gifts, grants, etc., received | $50,000 | |||
| Interest on savings and temporary cash investments | $142 | |||
| Dividends and interest from securities | $40,958 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $538 | |||
| Total expenses and disbursements | $113,582 | $150 | $0 | $112,932 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $13,582 | $150 | $12,932 | |
| Contributions, gifts, grants paid | $100,000 | |||
| Excess of revenue over expenses and disbursements | $-21,944 | |||
| Net investment income | $41,488 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,541,592 | $2,126,746 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,366,218 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $175,374 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $1,541,592 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $538 |
| 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 | $830 |
| Total credits and payments | $587 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $587 |
| 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 | $243 |
| Overpayment | $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? | 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? | 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 | $2,052,003 |
| Net value of noncharitable-use assets | $2,021,220 |
| Minimum investment return | $101,061 |
| Distributable Amount (for 2012) | |
| Distributable amount | $100,231 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $100,231 |
| 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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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Anne Anastasi Charitable Foundation | Foundation Source 501 Silverside Rd, Wilmington, DE 19809 | DE | 1998-11 | $6,831,453 |
| 2 | The@joseph And Catherine Johnson Family Foundation | 501 Silverside Rd Ste 123, Wilmington, DE 19809-1377 | DE | 1998-07 | $3,627,415 |
| 3 | Charles F Colao Animal Welfare Fund Inc | 34704 Michelle Dr, Rehoboth Bch, DE 19971-9404 | DE | 1997-07 | $3,267,155 |
| 4 | Winky Foundation Tr | 1100 N Market St, Wilmington, DE 19890-0001 | DE | 1998-07 | $2,505,307 |
| 5 | Hammonds Family Foundation | 1007 Barley Mill Rd, Wilmington, DE 19807-2221 | DE | 1998-11 | $1,360,111 |
| 6 | The Robert And Audrey Talbott Foundation | 501 Silverside Rd Ste 123, Wilmington, DE 19809-1377 | DE | 1995-04 | $1,332,134 |
| 7 | Newcity Foundation, Ferguson Richard A Ttee | Foundation Source 501 Silverside Rd, Wilmington, DE 19809 | DE | 1998-06 | $1,329,554 |
| 8 | Pinkerton Foundation | Foundation Source 501 Silverside Rd, Wilmington, DE 19809 | DE | 1995-03 | $1,218,805 |
| 9 | Patterson Family Foundation | Brandywine Trust Co, Hockessin, DE 19707 | DE | 1998-07 | $951,254 |
| 10 | James And Chantal Sheridan Foundation | C/O Chapel York1000 N West St, Wilmington, DE 19801 | DE | 1997-10 | $878,697 |
| 11 | Paul T And Aili R Jeffries Foundation | 200 Bellevue Pkwy Ste 220, Wilmington, DE 19809-3727 | DE | 1998-11 | $693,732 |
| 12 | Patrick Foundation Tr, Patrick John R & Joane M Ttee | Foundation Source 501 Silverside Rd, Wilmington, DE 19809 | DE | 1998-09 | $617,573 |
| 13 | Victory Fdn, Ttee 42006 0 | 1100 N Market St, Wilmington, DE 19890-0001 | DE | 1997-11 | $258,952 |
| 14 | Wmr Fam Foundation Tr, Russell Margaret Ann Ttee | 1100 N Market St, Wilmington, DE 19890-0001 | DE | 1998-07 | $249,648 |
| 15 | Wakefield Family Fund Inc | PO BOX 3880, Wilmington, DE 19807-0880 | DE | 1997-09 | $60,611 |
| 16 | Verbena Foundation | 1100 North Market Street, Wilmington, DE 19890-0900 | DE | 1998-07 | $15,062 |
| 17 | Seed Corn Foundation Tr | 1100 North Market Street, Wilmington, DE 19890-0001 | DE | 1998-07 | $2,233 |
| 18 | Sonecha Foundation Tr, Sonecha Jay N & Kashmira Co-Ttees | 220 Continental Dr Ste 410, Newark, DE 19713-4315 | DE | 1997-05 | $1,757 |
| 19 | The Synergy Foundation | 1100 North Market Street, Wilmington, DE 19890-0001 | DE | 1998-07 | $1,171 |
| 20 | Miraj Foundation | 109 Walnut Ridge Road, Greenville, DE 19807 | DE | 1993-04 | $1 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 5,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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