Leland R Smith Foundation in Durant, Iowa (IA)
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
| Leland R Smith Foundation | |
| Employer Identification Number (EIN) | 203450464 |
| Name of Organization | Leland R Smith Foundation |
| In Care of Name | Billy D Paulsen |
| Address | 1205 9th St, Durant, IA 52747-9760 |
| Subsection | Charitable Organization |
| Ruling Date | 10/2006 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 12/2010 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $2,842,155 |
| Amount of Income | $390,077 |
| Form 990 Revenue Amount | $154,121 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2010: $390,077 (it was $167,368 in 2009)
| Leland R Smith Foundation: | $390,077 |
| Other organizations performing similar types of work: | $105,489 |
Assets in 2010: $2,842,155 (it was $2,849,961 in 2009)
| Leland R Smith Foundation: | $2,842,155 |
| Other organizations performing similar types of work: | $325,460 |
Expenses in 2010: $161,927
| This organization: | $161,927 |
| Other organizations performing similar types of work: | $49,058 |
Income to expenses ratio in 2010: 2.4
| Leland R Smith Foundation: | 2.4 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2010: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 22.8% |
Revenue for 2010
Expenses for 2010
Assets for 2010
| Analysis of Revenue and Expenses (for 2010) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $154,121 | $153,120 | $137,697 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $49,458 | |||
| Dividends and interest from securities | $34,589 | |||
| Gross rents | $53,650 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $1,001 | |||
| Other | $15,423 | |||
| Total expenses and disbursements | $161,927 | $5,449 | $0 | $156,478 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $5,449 | $5,449 | $0 | |
| Contributions, gifts, grants paid | $156,478 | |||
| Excess of revenue over expenses and disbursements | $-7,806 | |||
| Net investment income | $147,671 | |||
| Adjusted net income | $137,697 | |||
| Balance Sheets (for 2010) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $2,842,155 | $0 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $50,030 | |
| Investments-corporate stock | $780,277 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $691,848 | |
| Other | $1,320,000 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $2,842,155 | |
| Capital Gains and Losses for Tax on Investment Income (for 2010) | |
| Capital gain net income | $15,423 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2010) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $2,953 |
| Total credits and payments | $7,304 |
| 2010 estimated tax payments and 2009 overpayment credited to 2010 | $7,304 |
| 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 |
| Overpayment | $4,351 |
| Amount to be credited to 2011 estimated tax | $0 |
| Statements Regarding Activities (for 2010) | |
| 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 2010 or the taxable year beginning in 2010? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2010) | |
| 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 2010, did the foundation have any undistributed income for tax year(s) beginning before 2010? | 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 2010) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $1,353,503 |
| Net value of noncharitable-use assets | $1,333,200 |
| Minimum investment return | $66,660 |
| Distributable Amount (for 2010) | |
| Distributable amount | $63,707 |
| Undistributed Income (for 2010) | |
| Distributable amount for 2010 | $63,707 |
| Undistributed income for 2010. This amount must be distributed in 2011 | $0 |
| Private Operating Foundations (for 2010) | |||||
| 2010 | 2009 | 2008 | 2007 | 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 | Comfort Family Foundation | 4926 Cedar Dr, Wdm, IA 50266-4935 | IA | 2010-10 | $25,961,888 |
| 2 | Vermeer Charitable Foundation Inc | 1210 Vermeer Rd E, Pella, IA 50219-7660 | IA | 1977-11 | $5,790,469 |
| 3 | Burke Family Foundation | PO BOX 723, Ames, IA 50010-0723 | IA | 2013-12 | $4,165,616 |
| 4 | Michael L And Margie A Bennett Foundation, Michael L Bennett Adm | 4280 Sergeant Rd Ste 250, Sioux City, IA 51106-4612 | IA | 2013-01 | $1,923,471 |
| 5 | Jensen Private Foundation Inc | 400 Woodcrest Ln, Muscatine, IA 52761-2790 | IA | 2012-04 | $1,043,980 |
| 6 | Zach Johnson Foundation | PO BOX 2336, Cedar Rapids, IA 52406-2336 | IA | 2011-04 | $837,833 |
| 7 | Dupaco Rw Hoefer Foundation | 3299 Hillcrest Rd, Dubuque, IA 52001-3928 | IA | 2012-09 | $709,593 |
| 8 | Stratbucker Family Foundation | 61395 Levi Rd, Glenwood, IA 51534-5304 | IA | 2015-04 | $646,729 |
| 9 | United Fire Group Foundation | 118 2nd Ave Se, Cedar Rapids, IA 52401-1212 | IA | 1999-10 | $592,572 |
| 10 | 46 1 Fund | 4206 Arizona Cir, Ames, IA 50014-3612 | IA | 2015-02 | $341,011 |
| 11 | Carl R Arnold Charitable Tr, Carrie Werning Ttee | 230 1st St E, Independence, IA 50644-2813 | IA | 2012-04 | $336,010 |
| 12 | Virgil C Webb William Garber And Flora Webb Garber Foundation | 6075 Ne 78th Ave, Bondurant, IA 50035-1067 | IA | 2010-04 | $296,399 |
| 13 | Morency Family Foundation | 1118 Sycamore Dr, Le Claire, IA 52753-9630 | IA | 2013-02 | $255,542 |
| 14 | Supplemental Emergency Assistance Program Inc, S E A P | 985 Lincoln Rd Ste 226, Bettendorf, IA 52722-4156 | IA | 2003-09 | $248,268 |
| 15 | Donald J Beck Tr | PO BOX 1708, Mason City, IA 50402-1708 | IA | 2011-12 | $211,030 |
| 16 | Cordis Foundation Inc | 1107 Wedgewood Cir, Fairfield, IA 52556-3885 | IA | 2012-03 | $207,080 |
| 17 | Warren H Timmerman Charitable Trust | 309 Main St, Manning, IA 51455-1030 | IA | 2007-06 | $205,083 |
| 18 | University Of Northern Iowa Prioperties Corporation | 205 Commons Uni, Cedar Falls, IA 50614-0282 | IA | 1999-11 | $193,000 |
| 19 | New Charitable Foundation | 2626 1st Ave S, Fort Dodge, IA 50501-4381 | IA | 2013-03 | $157,145 |
| 20 | Buddy And Tori Family Foundation | 216 11th St Ne, Sioux Center, IA 51250-2060 | IA | 2009-04 | $146,540 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 22,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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