Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee in Milford, Delaware (DE)

Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee
Employer Identification Number (EIN)	516504612
Name of Organization	Raymond W Masten And Edith W Masten Scholarship Fund
Secondary Name	Humes Carolyn M Ttee
In Care of Name	Morris Nichols Arsht & Tunnell
Address	102 Lakelawn Dr, Milford, DE 19963-1710
Activities	Scholarships (other)
Subsection	Charitable Organization
Ruling Date	11/1996
Deductibility	Contributions are deductible
Foundation	Private non-operating foundation
Organization	Trust
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2013
Assets	$25,000 to $99,999
Income	$1 to $9,999
Filing Requirement	990 - Not required to file (all other)
Asset Amount	$44,377
Amount of Income	$3,179
Form 990 Revenue Amount	$-29,358
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards

Non-representatives - add comments:

Amount of income in 2013: $3,179 (it was $9,963 in 2012)

Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee:	$3,179
Other organizations performing similar types of work:	$50,088

Assets in 2013: $44,377 (it was $47,962 in 2012)

This organization:	$44,377
Other organizations performing similar types of work:	$160,480

Expenses in 2013: $6,764

This organization:	$6,764
Other organizations performing similar types of work:	$41,701

Income to expenses ratio in 2013: 0.5

Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee:	0.5
Other organizations performing similar types of work:	1.3

Grants share in income in 2013: 0.0%

Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee:	0.0%
Other organizations performing similar types of work:	22.2%

Financial snapshot ($)

Assets at the end of 2013

Expenses for 2013

	Revenue and expenses per books	Net investment income	Adjusted net income	Disbursements for charitable purposes (cash basis only)
Analysis of Revenue and Expenses (for 2013)
Total revenue	$3,179	$3,179	$3,179
Contributions, gifts, grants, etc., received	$0
Interest on savings and temporary cash investments	$0
Dividends and interest from securities	$3,179
Gross rents	$0
Gross sales price for all assets	$0
Gross profit from sales of goods	$0
Other income	$0
Total expenses and disbursements	$6,764	$728	$0	$6,036
Compensation of officers, directors, trustees, etc.	$0
Pension plans, employee benefits	$0
Legal fees	$0
Accounting fees	$1,050
Interest	$0
Depreciation	$0
Occupancy	$0
Travel, conferences, and meetings	$0
Printing and publications	$0
Total operating and administrative expenses	$1,264	$728		$536
Contributions, gifts, grants paid	$5,500
Excess of revenue over expenses and disbursements	$-3,585
Net investment income		$2,451
Adjusted net income			$3,179

	2011		2012		2013
Balance Sheets
	Book Value	Fair Market Value	Book Value	Fair Market Value	Book Value	Fair Market Value
Total assets	$45,176	$99,303	$47,962	$102,817	$44,377	$121,009
Cash - non-interest-bearing	$135		$4,615		$1,030
Investments-U.S. and state government obligations	$0		$0		$0
Investments-corporate stock	$45,041		$43,347		$43,347
Investments-corporate bonds	$0		$0		$0
Investments-mortgage loans	$0		$0		$0
Investments-other	$0		$0		$0
Other assets			$0		$0
Total liabilities	$0		$0		$0
Total liabilities and net assets/fund balances	$45,176		$47,962		$44,377

	2011	2012	2013
Capital Gains and Losses for Tax on Investment Income
Capital gain net income	$0	$5,138	$0
Net capital loss	$-32,231	$0	$0

	2011	2012	2013
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	$45	$53	$49
Total credits and payments	$0	$0	$0
Any penalty for underpayment of estimated tax	$0	$0	$0
Tax due		$53	$49
Overpayment		$0	$0
Amount to be credited to next year's estimated tax	$0	$0	$0

	2011	2012	2013
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?		No	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?		No	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

	2011	2012	2013
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?	No	No	No
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	Yes	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?		No	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?	No	No	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	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

	2011	2012	2013
Minimum Investment Return
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes	$102,839	$103,845	$117,041
Net value of noncharitable-use assets		$102,287	$115,285
Minimum investment return	$5,065	$5,114	$5,764

	2011	2012	2013
Distributable Amount
Distributable amount	$5,020	$5,061	$5,715

	2011	2012	2013
Undistributed Income
Distributable amount for this year	$5,020	$5,061	$5,715
Undistributed income for this year. This amount must be distributed in the next year	$5,020	$5,061	$5,125

	2013	2012	2011	2010	Total
Private Operating Foundations (for 2010 - 2013)
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 2013)
Grants approved for future payment	$0

	Amount	Related or exempt function income
Analysis of Income-Producing Activities (for 2013)
Program service revenue
Fees and contracts from government agencies	$0	$0
Membership dues and assessments	$0	$0
Interest on savings and temporary cash investments	$0	$0
Dividends and interest from securities	$3,179	$0

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
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

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	The@charles Mitchell Scholarship Trust, Pershan Richard H Et Al Ttee	10 S Dearborn Il1-0117, Chicago, IL 60603-2300	IL	1997-07	$2,794,018
2	Wisconsin Rural Opportunities Foundation Inc	3310 Latham Dr, Madison, WI 53713-4634	WI	1996-09	$2,025,315
3	The Leadership Investment	3900 E Mexico Ave Ste 600, Denver, CO 80210-3943	CO	1991-05	$1,186,322
4	W R And Floy A Sauey Family Foundation Inc	715 Lynn Ave, Baraboo, WI 53913-2744	WI	1998-09	$738,726
5	Yoder Brothers Memorial Scholarship Fund	7550 Trails End, Chagrin Falls, OH 44023-1426	OH	1997-06	$351,924
6	Brazosport Rotary Club Charitable Foundation Inc	P O Box 71, Lake Jackson, TX 77566	TX	1994-02	$338,792
7	The Lyden Foundation Inc	PO BOX 700, Winter Park, FL 32790-0700	FL	1997-12	$331,009
8	Susan Fund Inc	8 Hilly Field Ln, Westport, CT 06880-2916	CT	1992-07	$258,599
9	Trustees Of Chester Academy Stratevest Group N A	PO BOX 1280, Brattleboro, VT 05302-1280	VT	1995-06	$201,493
10	University Of Aberdeen Foundation Inc	57 W 57th St 3rd And 4th Flr, New York, NY 10019	NY	1996-07	$182,160
11	Thomas W And Lolita Gayle Scholarship Fund	PO BOX 40200, Jacksonville, FL 32203-0200	FL	1998-01	$181,272
12	The Dubose Scholarship Fund	PO BOX 1749, Chattanooga, TN 37401-1749	TN	1998-09	$82,011
13	Glenpool Public Schools Foundation For Academic Excellence Inc	PO BOX 1149, Glenpool, OK 74033	OK	1995-06	$48,114
14	Virginia National Guard Foundation	Bldg 316 Fort Pickett, Blackstone, VA 23824	VA	1995-05	$47,598
15	Spiro School Foundation For Excellence In Education Inc	PO BOX 127, Spiro, OK 74959-0127	OK	1992-01	$43,018
16	Third Eye Inc	39303 Country Club Dr Ste A-48, Farmington Hills, MI 48331-3449	MI	1998-01	$36,894
17	Rockwall County A & M Club	PO BOX 214, Rockwall, TX 75087-0214	TX	1991-04	$33,628
18	Thomas E Anding & Emilyne Weed Anding Foundation	4350 Shady Hill Dr, Dallas, TX 75229-2863	TX	1998-11	$13,861
19	Helen Sue Ward Scholarship Foundation Inc	4164 Jacksonville Rd, Crisfield, MD 21817-2420	MD	1997-01	$13,522
20	Raymond W Masten And Edith W Masten Scholarship Fund, Humes Carolyn M Ttee	102 Lakelawn Dr, Milford, DE 19963-1710	DE	1996-11	$3,179

Number of organizations performing similar types of work

Alabama	3
Arkansas	2
Arizona	3
California	8
Colorado	5
Connecticut	3
District of Columbia	2
Delaware	1
Florida	11
Georgia	1
Hawaii	1
Iowa	3
Illinois	9
Indiana	1
Kansas	1
Kentucky	3
Massachusetts	7
Maryland	3
Maine	1
Michigan	3

Minnesota	2
Missouri	5
Montana	1
North Carolina	2
Nebraska	1
New Hampshire	1
New Jersey	6
New York	16
Ohio	2
Oklahoma	6
Oregon	3
Pennsylvania	6
Rhode Island	1
Tennessee	2
Texas	27
Utah	1
Virginia	4
Vermont	2
Wisconsin	7
Wyoming	2

Total

168

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