Presto Foundation in Wilmington, Delaware (DE)

Presto Foundation
Employer Identification Number (EIN)	396045769
Name of Organization	Presto Foundation
Address	1011 Centre Rd Ste 310, Wilmington, DE 19805-1266
Activities	Gifts, grants, or loans to other organizations
Subsection	Charitable Organization
Ruling Date	08/1953
Deductibility	Contributions are deductible
Foundation	Private non-operating foundation
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	05/2014
Assets	$5,000,000 to $9,999,999
Income	$500,000 to $999,999
Filing Requirement	990 - Not required to file (all other)
Asset Amount	$9,993,080
Amount of Income	$817,940
Form 990 Revenue Amount	$1,046,246

Non-representatives - add comments:

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Expenses for 2014

	Revenue and expenses per books	Net investment income	Adjusted net income	Disbursements for charitable purposes (cash basis only)
Analysis of Revenue and Expenses (for 2014)
Total revenue	$817,940	$817,940	$0
Contributions, gifts, grants, etc., received	$0
Interest on savings and temporary cash investments	$99,079
Dividends and interest from securities	$718,861
Gross rents	$0
Gross sales price for all assets	$0
Gross profit from sales of goods	$0
Other income	$0
Total expenses and disbursements	$1,043,529	$31,215	$0	$1,004,446
Compensation of officers, directors, trustees, etc.	$0
Pension plans, employee benefits	$0
Legal fees	$0
Accounting fees	$0
Interest	$0
Depreciation	$0
Occupancy	$0
Travel, conferences, and meetings	$0
Printing and publications	$0
Total operating and administrative expenses	$43,259	$31,215		$4,176
Contributions, gifts, grants paid	$1,000,270
Excess of revenue over expenses and disbursements	$-225,588
Net investment income		$786,725
Adjusted net income			$0

	2012		2013		2014
Balance Sheets
	Book Value	Fair Market Value	Book Value	Fair Market Value	Book Value	Fair Market Value
Total assets	$10,998,969	$20,390,465	$10,210,801	$20,614,108	$9,993,080	$19,203,140
Cash - non-interest-bearing	$-424,030		$-338,633		$-546,649
Investments-U.S. and state government obligations	$1,568,359		$0		$0
Investments-corporate stock	$0		$1,568,357		$1,568,357
Investments-corporate bonds	$0		$0		$0
Investments-mortgage loans	$0		$0		$0
Investments-other	$0		$0		$0
Other assets			$0		$0
Total liabilities	$467,772		$-8,337		$-472
Mortgages and other notes payable	$0		$0		$0
Other liabilities			$-10,025		$-2,158
Total liabilities and net assets/fund balances	$10,531,197		$10,219,139		$9,993,552

	2012	2013	2014
Capital Gains and Losses for Tax on Investment Income
Capital gain net income	$0	$0	$0
Net capital loss	$0	$0	$0

	2012	2013	2014
Excise Tax Based on Investment Income
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)	No	No	No
Tax based on investment income	$20,157	$10,130	$7,867
Total credits and payments	$3,690	$20,155	$10,025
Current year estimated tax payments and previous year's overpayment credited to current year	$3,690	$20,155	$10,025
Exempt foreign organizations-tax withheld at source	$0	$0	$0
Tax paid with application for extension of time to file (Form 8868)	$0	$0	$0
Backup withholding erroneously withheld	$0	$0	$0
Any penalty for underpayment of estimated tax	$0	$0	$0
Tax due		$0	$0
Overpayment		$10,025	$2,158
Amount to be credited to next year's estimated tax	$0	$10,025	$2,158

	2012	2013	2014
Statements Regarding Activities
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	No	No
Has the foundation engaged in any activities that have not previously been reported to the IRS?		No	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	No
Has the foundation filed a tax return on Form 990-T for this year?		No	No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?	No	No	No
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?		Yes	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	No	No
Did any persons become substantial contributors during the tax year?		No	No
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?		Yes	No
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?		Yes	Yes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041		No	No

	2012	2013	2014
Statements Regarding Activities for Which Form 4720 May Be Required
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	No	No
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?	No	No	No
Furnish goods, services, or facilities to (or accept them from) a disqualified person?	Yes	Yes	Yes
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?	No	No	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	No	No
Agree to pay money or property to a government official?	No	No	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	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	No
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?	Yes	No	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?		Yes	No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?	No	No	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	No	No
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?	No	No	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	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	No	No
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?	No	No	No
Provide a grant to an individual for travel, study, or other similar purposes?	Yes	Yes	Yes
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	No	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	No	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	No
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No

	2012	2013	2014
Minimum Investment Return
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes	$23,966,511	$20,785,221	$19,958,543
Net value of noncharitable-use assets		$20,473,443	$19,659,165
Minimum investment return	$1,180,351	$1,023,672	$982,958

	2012	2013	2014
Distributable Amount
Distributable amount	$1,170,273	$1,013,542	$975,091

	2012	2013	2014
Undistributed Income
Distributable amount for this year	$1,170,273	$1,013,542	$975,091
Undistributed income for this year. This amount must be distributed in the next year	$1,170,273	$1,001,366	$972,011

	2014	2013	2012	2011	Total
Private Operating Foundations (for 2011 - 2014)
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 2014)
Grants approved for future payment	$0

	Amount	Related or exempt function income
Analysis of Income-Producing Activities (for 2014)
Program service revenue
Fees and contracts from government agencies	$0	$0
Membership dues and assessments	$0	$0
Interest on savings and temporary cash investments	$99,079	$0
Dividends and interest from securities	$718,861	$0

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
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:
Cash	No
Other assets	No
Other transactions:
Sales of assets to a noncharitable exempt organization	No
Purchases of assets from a noncharitable exempt organization	No
Rental of facilities, equipment, or other assets	No
Reimbursement arrangements	No
Loans or loan guarantees	No
Performance of services or membership or fundraising solicitations	No
Sharing of facilities, equipment, mailing lists, other assets, or paid employees	No

Write your review!

Your Ratings

You can rate this nonprofit in different categories from 1 star (worst) to 5 stars (best) or leave category unrated

Program:
Fundraising:
Expenses:
Transparency:

Your Review

Would you recommend Presto Foundation to others? (optional)

Yes

Add photo of Presto Foundation (optional)

About You

Your nickname:
I have read, and agree to the Terms of Service

Optional Verification

(additional info to increase the weight and the placement of your review and ratings)

	Log in» \| Register - it's free and very quick!
Real Name:
Email (won't be published):
Date and time of your visit to this nonprofit:
Phone number (won't be published):
	Show my IP address (18.227.21.xxx) to everybody
	Leave your signature» Clear Make my signature public

Recently Added Reviews
How I Decide Foundation in Wilmington, DE
No Limit Athletics Inc in Wilmington, DE
Female Benevolent Society Of Wilmington In The State Of De in Wilmington, DE
Gateway House Inc in Wilmington, DE
Stehm Inc in Wilmington, DE
Jerry And Terri Kohl Familyfoundation in Wilmington, DE
Abide Foundation in Wilmington, DE
Claymore Senior Center Inc in Wilmington, DE
New Covenant Christian Church, Eglise Chretienne De La Nouvelle Al in Bear, DE
Mot Future Stars Inc in Townsend, DE

Recently Added Reviews

How I Decide Foundation in Wilmington, DE

No Limit Athletics Inc in Wilmington, DE

Female Benevolent Society Of Wilmington In The State Of De in Wilmington, DE

Gateway House Inc in Wilmington, DE

Stehm Inc in Wilmington, DE

Jerry And Terri Kohl Familyfoundation in Wilmington, DE

Abide Foundation in Wilmington, DE

Claymore Senior Center Inc in Wilmington, DE

New Covenant Christian Church, Eglise Chretienne De La Nouvelle Al in Bear, DE

Mot Future Stars Inc in Townsend, DE

Id	Name	Address	State	Established	Total Income
Other organizations in Delaware
1	Popsies-Rencourt Foundation Inc	5714 Kennett Pike, Wilmington, DE 19807-1331	DE	2000-11	$25,570
2	Positive Growth Alliance Inc	PO BOX 1145, Millsboro, DE 19966-5145	DE	2003-03	$85,256
3	Possum Point Players Inc	PO BOX 96, Georgetown, DE 19947-0096	DE	1975-03	$222,947
4	Pot-Nets Home Owner Association	34180 Roseview Lane, Millsboro, DE 19966	DE	2008-10	$0
5	Powerhouse Ministries Inc	115 E Glenwood Ave, Smyrna, DE 19977-1424	DE	1999-11	$0
6	Practice Without Pressure Inc	2470 Sunset Lake Rd, Newark, DE 19702-4039	DE	2002-07	$893,818
7	Prairie Creek Partners Charitable Foundation	501 Silverside Rd Ste 123, Wilmington, DE 19809-1377	DE	2008-07	$7,236,230
8	Praxis Foundation	Foundation Source 501 Silverside Rd, Wilmington, DE 19809	DE	2004-11	$1,052,266
9	Pregnancy Help Center Of Kent County Inc	1991 S State Street Suite C, Dover, DE 19901-5811	DE	1986-06	$86,727
10	Preservation Delaware Inc	PO BOX 70, New Castle, DE 19720-0070	DE	1995-01	$68,866
11	Presto Foundation	1011 Centre Rd Ste 310, Wilmington, DE 19805-1266	DE	1953-08	$817,940
12	Prevent Child Abuse Delaware Inc, Delaware Chapter	100 W 10th St Ste 715, Wilmington, DE 19801-6605	DE	1978-11	$913,926
13	Primerights Inc	Pmb 6324 2711 Centerville Rd Ste120, Wilmington, DE 19809	DE	2008-08	$0
14	Primeros Pasos Inc	PO BOX 1003, Georgetown, DE 19947-1003	DE	1999-04	$288,543
15	Prince Street Funding Company Inc	500 Stanton Christiana Rd Ops 3 2-P, Newark, DE 19713-2105	DE	2010-02	$1,031,402
16	Prison Outreach Of Delaware Inc	PO BOX 7633, Newark, DE 19714-7633	DE	1971-03	$231,412
17	Private Equity Foundation I Inc	1000 N West St 1200, Wilmington, DE 19801	DE	2007-10	$1,150,499
18	Pro Swing Sports Academy Inc	516 Florence Fields Ln, New Castle, DE 19720-8749	DE	2007-08	$49,622
19	Produce For Better Health Foundation	7465 Lancaster Pike Ste J, Hockessin, DE 19707-9578	DE	1992-03	$3,088,322
20	Pma Foundation For Industry Talent Inc	1500 Casho Mill Rd, Newark, DE 19711-3547	DE	2006-06	$2,379,922

NonProfitFacts.com is not associated with, endorsed by, or sponsored by Presto Foundation and has no official or unofficial affiliation with Presto Foundation