Smart Bet Charity in Chicago, Illinois (IL)
Table of contents:
| Smart Bet Charity | |
| Employer Identification Number (EIN) | 743174782 |
| Name of Organization | Smart Bet Charity |
| In Care of Name | Oca Ventures Managmt Llc |
| Address | 351 W Hubbard St Ste 600, Chicago, IL 60654-4486 |
| Subsection | Charitable Organization |
| Ruling Date | 01/2007 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Required to file Form 990-N - Income less than $25,000 per year |
| Asset Amount | $46,215 |
| Amount of Income | $11,089 |
| Form 990 Revenue Amount | $11,089 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2013: $11,089 (it was $130,492 in 2012)
| Smart Bet Charity: | $11,089 |
| Other organizations performing similar types of work: | $105,489 |
Assets in 2013: $46,215 (it was $87,071 in 2012)
| Smart Bet Charity: | $46,215 |
| Other organizations performing similar types of work: | $325,460 |
Expenses in 2013: $51,945
| This organization: | $51,945 |
| Other organizations performing similar types of work: | $49,058 |
Income to expenses ratio in 2013: 0.2
| Smart Bet Charity: | 0.2 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 100.0%
| Smart Bet Charity: | 100.0% |
| Other organizations performing similar types of work: | 22.8% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $53,423 | $87,375 | $11,089 |
| Contributions, gifts, grants, and similar amounts received | $71,534 | $97,399 | $11,089 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $-18,111 | $-10,024 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $60,568 | $81,711 | $51,945 |
| Total net assets | $47,896 | $53,570 | $12,714 |
| Excess/Deficit for the year | $-7,145 | $5,664 | $-40,856 |
| Net assets or fund balances at beginning of year | $55,041 | $47,896 | $53,570 |
| Other changes in net assets or fund balances | $0 | $10 | $0 |
| Net assets or fund balances at end of year | $53,570 | $12,714 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $51,407 | $87,071 | $46,215 |
| Total liabilities | $3,511 | $33,501 | $33,501 |
| Net assets or fund balances | $47,896 | $53,570 | $12,714 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public Support | $318,728 |
| Subtotal Support | $318,728 |
| Gifts, grants, contributions, and membership fees received | $318,728 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support | $0 |
| Total Support | $402,448 |
| Public Support | $318,728 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $83,720 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Star Family Foundation | 222 N Lasalle St 2000, Chicago, IL 60601 | IL | 2013-02 | $50,049,570 |
| 2 | The Brinson Foundation | 737 N Michigan Ave Ste 1850, Chicago, IL 60611-6707 | IL | 2007-10 | $44,904,690 |
| 3 | Abbvie Foundation | 1 N Waukegan Rd Bldg Ap34-2, North Chicago, IL 60064-1802 | IL | 2013-11 | $41,664,160 |
| 4 | Manaaki Foundation | 807 Forest Ave, River Forest, IL 60305-1361 | IL | 2012-01 | $20,084,922 |
| 5 | Bacca Foundation | 10 S Dearborn St, Chicago, IL 60603-2300 | IL | 2013-05 | $18,608,916 |
| 6 | Tellabs Foundation | 1415 W Diehl Rd Msc 10, Naperville, IL 60563-1139 | IL | 1997-11 | $17,141,393 |
| 7 | State Farm Companies Foundation | PO BOX 2321, Bloomington, IL 61702-2321 | IL | 1968-06 | $17,034,318 |
| 8 | William Butterworth Memorial Trust | 506 15th St, Moline, IL 61265-2149 | IL | 1954-05 | $15,537,327 |
| 9 | John C Kulis Charitable Foundation | 216 S Jefferson St Ste 301, Chicago, IL 60661-5743 | IL | 2014-07 | $13,783,826 |
| 10 | Kraft Foods Group Foundation | 3 Lakes Dr, Northfield, IL 60093-2753 | IL | 2012-09 | $12,003,509 |
| 11 | Youth Improved Incorporated | 10255 West Higgins Road, Rosemont, IL 60018-5638 | IL | 2010-05 | $11,535,686 |
| 12 | Robert And Jean Reid Family Foundation | 111 W Monroe St Flr 10e, Chicago, IL 60603-4096 | IL | 2014-06 | $10,237,037 |
| 13 | Smoke Rise Foundation Inc | C/O Friedman Huey Associates, Homewood, IL 60430 | IL | 2009-09 | $9,705,104 |
| 14 | Donnini-Rudolph Family Foundation | 1402 Waterford Pl, Champaign, IL 61821-6973 | IL | 2013-02 | $8,972,028 |
| 15 | The Keywell Foundation | 600 W Chicago Ave Ste 775, Chicago, IL 60654-2526 | IL | 2011-03 | $8,381,469 |
| 16 | Weberg Tr | PO BOX 803878, Chicago, IL 60680-3878 | IL | 2005-01 | $8,368,393 |
| 17 | 1111 Foundation | 1 Medline Pl, Mundelein, IL 60060-4485 | IL | 2013-07 | $8,095,176 |
| 18 | Wohlers Family Foundation | PO BOX 803878, Chicago, IL 60680-3878 | IL | 2007-09 | $7,711,099 |
| 19 | Visiting Nurse Association Of Chicago | 20 N Wacker Dr Ste 3118, Chicago, IL 60606-3101 | IL | 1934-02 | $7,540,122 |
| 20 | Sidley Austin Foundation | 1 S Dearborn St Ste 2300, Chicago, IL 60603-2306 | IL | 2006-03 | $7,202,287 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 22,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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