The Fairholme Foundation in Coral Gables, Florida (FL)
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
| The Fairholme Foundation | |
| Employer Identification Number (EIN) | 010718240 |
| Name of Organization | The Fairholme Foundation |
| In Care of Name | Bruce R Berkowitz |
| Address | 14 Tahiti Beach Island Rd, Coral Gables, FL 33143-6540 |
| Subsection | Charitable Organization |
| Ruling Date | 07/2002 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $50,000,000 to greater |
| Income | $50,000,000 to greater |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $206,429,685 |
| Amount of Income | $68,026,561 |
| Form 990 Revenue Amount | $38,850,172 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations |
Non-representatives - add comments:
Amount of income in 2013: $68,026,561 (it was $21,919,903 in 2012)
| The Fairholme Foundation: | $68,026,561 |
| Other organizations performing similar types of work: | $107,502 |
Assets in 2013: $206,429,685 (it was $146,411,854 in 2012)
| The Fairholme Foundation: | $206,429,685 |
| Other organizations performing similar types of work: | $322,766 |
Expenses in 2012: $5,076,583
| The Fairholme Foundation: | $5,076,583 |
| Other organizations performing similar types of work: | $58,249 |
Income to expenses ratio in 2012: 13.4
| The Fairholme Foundation: | 13.4 |
| Other organizations performing similar types of work: | 2.0 |
Grants share in income in 2012: 94.9%
| This organization: | 94.9% |
| Other organizations performing similar types of work: | 98.7% |
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 | $21,876,013 | $1,110,495 | $0 | |
| Contributions, gifts, grants, etc., received | $20,768,950 | |||
| Interest on savings and temporary cash investments | $797 | |||
| Dividends and interest from securities | $1,109,698 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $5,076,583 | $1,225 | $0 | $5,052,873 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $30,223 | $1,225 | $6,513 | |
| Contributions, gifts, grants paid | $5,046,360 | |||
| Excess of revenue over expenses and disbursements | $16,799,430 | |||
| Net investment income | $1,109,270 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $146,411,854 | $155,280,997 |
| Cash - non-interest-bearing | $626,229 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $145,385,625 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $400,000 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $146,411,854 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-3,432 |
| 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 | $22,185 |
| Total credits and payments | $72,075 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $72,075 |
| 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 | $0 |
| Overpayment | $49,890 |
| Amount to be credited to 2013 estimated tax | $49,890 |
| 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 | $137,175,764 |
| Net value of noncharitable-use assets | $135,118,120 |
| Minimum investment return | $6,755,906 |
| Distributable Amount (for 2012) | |
| Distributable amount | $6,733,721 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $6,733,721 |
| 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 | Paiko Charitable Foundation, Ray D Berry Ttee | 4540 Gordon Dr, Naples, FL 34102-7914 | FL | 2012-03 | $31,561,745 |
| 2 | Taishoff Family Foundation Inc, C-O Solar Lc | 5025 Castello Drive Ste 203, Naples, FL 34103-8900 | FL | 2010-10 | $16,184,614 |
| 3 | The St Joe Community Foundation Inc | 133 South Watersound Parkway, Watersound, FL 32413-7280 | FL | 2001-02 | $1,687,086 |
| 4 | West Florida Premier Soccer Club Inc | PO BOX 3322, Brandon, FL 33509-3322 | FL | 2011-05 | $1,545,965 |
| 5 | Ckc Foundation | 37 Beach Walker Rd, Fernandina, FL 32034-6603 | FL | 2012-04 | $1,253,404 |
| 6 | James E Huffer And Betty J Huffer Foundation, Betty J Huffer Ttee | 17080 Safety St Ste 108, Ft Meyers, FL 33908-7506 | FL | 2011-09 | $1,187,541 |
| 7 | The Patton Charitable Foundation | 66 Gomez Rd, Hobe Sound, FL 33455-2327 | FL | 2000-09 | $745,744 |
| 8 | Fort Myers Rotary 05202010 Tr Fund, Bob Beville & Bob Sheehan Co-Ttee | 2101 Mcgregor Blvd No 102, Fort Myers, FL 33901-3411 | FL | 2011-06 | $729,166 |
| 9 | Switzer Brothers Charitable Foundation | PO BOX 1313, Pensacola, FL 32591-1313 | FL | 2000-09 | $700,046 |
| 10 | Michael S Gordon Md Charitable Foundation | C/O 3225 Aviation Avenue No 500, Miami, FL 33133 | FL | 2010-10 | $582,169 |
| 11 | The Handley Foundation Inc | 401 E Las Olas Blvd 130-465, Fort Lauderdale, FL 33301-2210 | FL | 1999-07 | $543,311 |
| 12 | Tampa Bay Buccaneers Charities Inc | One W Buccaneer Place, Tampa, FL 33607 | FL | 2003-04 | $392,608 |
| 13 | The Robert And Marcia Oswald Family Foundation | 22957 Shady Knoll Dr, Bonita Spgs, FL 34135-2036 | FL | 2002-01 | $350,353 |
| 14 | Hofstetter Family Foundation Inc | 350 Ponte Vedra Blvd, Ponte Vedra Beach, FL 32082-1812 | FL | 2012-03 | $348,397 |
| 15 | Shank Family Foundation | 112 S Warbler Ln, Sarasota, FL 34236-1612 | FL | 2008-12 | $334,887 |
| 16 | Central Florida Hotel & Lodging Association Foundation Inc, Cfhla Foundation | 6675 Westwood Blvd Ste 210, Orlando, FL 32821-6015 | FL | 2011-06 | $317,129 |
| 17 | Tale Of The Comet Foundation, Mead Nadia Lamb Et Al Ttee | PO BOX 40200, Jacksonville, FL 32203-0200 | FL | 2002-12 | $272,057 |
| 18 | Philipp Family Foundation Inc | 22 Marsh Point Rd, Amelia Island, FL 32034-6424 | FL | 2010-08 | $260,280 |
| 19 | Wow Charitable Foundation | 411 Walnut St, Green Cv Spgs, FL 32043-3443 | FL | 2011-05 | $205,980 |
| 20 | Reed Family Foundation | 3981 Otter Bend Cir, Ft Myers, FL 33905-5886 | FL | 2001-05 | $204,759 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 3,013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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