The@bob Hughes Fund in Jacksonville, Florida (FL)

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The@bob Hughes Fund
Employer Identification Number (EIN)586338112
Name of OrganizationThe@bob Hughes Fund
In Care of NameBank Of America N A
AddressPO BOX 40200 FL9-100-10-19, Jacksonville, FL 32203-0200
ActivitiesSchool, college, trade school, etc.
SubsectionCharitable Organization
Ruling Date11/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$383,998
Amount of Income$168,140
Form 990 Revenue Amount$5,641
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations:


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Amount of income in 2014: $168,140 (it was $56,786 in 2013)
This organization: 

 $168,140
Other organizations performing similar types of work: 

 $168,140

Assets in 2014: $383,998 (it was $405,470 in 2013)
The@bob Hughes Fund: 

 $383,998
Other organizations performing similar types of work: 

 $443,614

Expenses in 2013: $24,060
This organization: 

 $24,060
Other organizations performing similar types of work: 

 $57,696

Income to expenses ratio in 2013: 7.0
The@bob Hughes Fund: 

 7.0
Other organizations performing similar types of work: 

 3.0

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$56,786$56,689$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$9,370
Gross rents$0
Gross sales price for all assets$311,465
Gross profit from sales of goods$0
Other income$4
Other$47,412
Total expenses and disbursements$24,060$3,127$0$21,068
Compensation of officers, directors, trustees, etc.$4,687
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$800
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$5,667$3,127$2,675
Contributions, gifts, grants paid$18,393
Excess of revenue over expenses and disbursements$32,726
Net investment income$53,562
Adjusted net income$0
Balance Sheets
20122013
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$382,107$382,649$405,470$396,013
Cash - non-interest-bearing$0$0
Investments-U.S. and state government obligations$0$0
Investments-corporate stock$345,004$340,127
Investments-corporate bonds$0$0
Investments-mortgage loans$0$0
Investments-other$0$39,506
Other assets$0$0
Total liabilities$0$0
Total liabilities and net assets/fund balances$382,107$405,470
Capital Gains and Losses for Tax on Investment Income
20122013
Capital gain net income$0$47,412
Net capital loss$-7,216$0
Excise Tax Based on Investment Income
20122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$210$536
Total credits and payments$426$1,064
Current year estimated tax payments and previous year's overpayment credited to current year$426$212
Exempt foreign organizations-tax withheld at source$0$0
Tax paid with application for extension of time to file (Form 8868)$0$852
Backup withholding erroneously withheld$0$0
Any penalty for underpayment of estimated tax$0$0
Tax due$0$0
Overpayment$216$528
Amount to be credited to next year's estimated tax$212$528
Statements Regarding Activities
20122013
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?NoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
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?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
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?NoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
20122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
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?NoNo
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?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNo
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?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNo
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?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
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?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
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)?YesYes
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
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?YesYes
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
20122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$391,121$407,807
Net value of noncharitable-use assets$385,254$401,690
Minimum investment return$19,263$20,085
Distributable Amount
20122013
Distributable amount$19,053$19,549
Undistributed Income
20122013
Distributable amount for this year$19,053$19,549
Undistributed income for this year. This amount must be distributed in the next year$16,653$15,134
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
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$9,370$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:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Shipping Venture Corporation600 Atlantic Avenue, Boston, MA 02210-2203MA1996-05$2,183,439
2Virginia Cretella Mars Foundation140 Broadway, New York, NY 10005-1108NY1995-05$2,060,101
3Still Point Fund150 Broadway, New York, NY 10038-4381NY1997-07$1,189,725
4Stanley And Nancy Grossman Family Foundation600 Third Avenue, New York, NY 10016-1901NY1995-10$445,107
5Roberta Leventhal Sudakoff Foundation Inc2831 Ringling Blvd Ste 119e, Sarasota, FL 34237-5355FL1996-11$414,311
6Ruth And Sheldon Goldstein Foundation, Goldstein Ruth Et Al Ttee1035 19th St Apt 2, Santa Monica, CA 90403-4498CA1995-05$396,725
7The Philip J Hahn Foundation IncC/O J Rosenzweig 560 Fifth Avenue, New York, NY 10036NY1997-07$311,083
8John J Conefry Jr Foundation391 Indies Dr, Orchid, FL 32963-9559FL1998-01$281,290
9Trowbridge Foundation, Lowell William A TteePO BOX 961019, Boston, MA 02196-1019MA1997-07$279,339
10James And Marjorie Yashar Charitable Foundation13354 Deauville Dr, Palm Bch Gdns, FL 33410-1467FL1997-07$272,698
11Weitz Family Charitable Foundation Inc700 Broadway 3rd Floor, New York, NY 10003-9536NY1997-06$227,908
12The@bob Hughes FundPO BOX 40200 FL9-100-10-19, Jacksonville, FL 32203-0200FL1998-11$168,140
13Summit Foundation Inc150 Stahl Rd, Getzville, NY 14068-1231NY1994-03$138,092
14The Irwin Foundation50 Crocker Blvd Ste 100, Mount Clemens, MI 48043-2580MI1996-08$107,320
15Tarasoff Foundation37 W 57th St Fl 5, New York, NY 10019-3411NY1997-07$93,499
16Tilia Foundation1170 5th Ave, New York, NY 10029-6527NY1997-04$88,631
17Paul And Mary Sheibar Foundation5148 Nw 24th Way, Boca Raton, FL 33496-2837FL1997-06$72,440
18Banks Family Foundation Inc60 Edgewater Dr, Coral Gables, FL 33133-6970FL1995-02$37,148
19The Robert A Dowling Foundation Inc2424 M Federal Hwy 410, Boca Raton, FL 33431-7746FL1996-09$32,587
20Bonner Family Foundation Trust, Bonner Rosemary Ttee800 Cassena Rd, Naples, FL 34108-3303FL1995-09$20,437
Number of organizations performing similar types of work
Arizona1
California6
Connecticut5
Florida8
Illinois4
Indiana1
Kentucky1
Massachusetts17
Maine2
Michigan1
Minnesota2
Missouri1
North Carolina2
Nebraska1
New Hampshire3
New Jersey9
New Mexico1
New York47
Pennsylvania2
Rhode Island8
Tennessee1
Texas1
Total124

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