Gloucester Fund Inc in Gloucester, Massachusetts (MA)
Table of contents:
| Gloucester Fund Inc | |
| Employer Identification Number (EIN) | 043521016 |
| Name of Organization | Gloucester Fund Inc |
| In Care of Name | Barrett S Pett |
| Address | 45 Middle Street No 2, Gloucester, MA 01930-5736 |
| Subsection | Charitable Organization |
| Ruling Date | 11/2001 |
| 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 | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $58,489 |
| Amount of Income | $178,417 |
| Form 990 Revenue Amount | $166,000 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Fund Raising and/or Fund Distribution |
Non-representatives - add comments:
Amount of income in 2013: $178,417 (it was $256,464 in 2012)
| Gloucester Fund Inc: | $178,417 |
| Other organizations performing similar types of work: | $68,020 |
Assets in 2013: $58,489 (it was $142,029 in 2012)
| This organization: | $58,489 |
| Other organizations performing similar types of work: | $43,397 |
Expenses in 2013: $249,540
| Gloucester Fund Inc: | $249,540 |
| Other organizations performing similar types of work: | $44,919 |
Income to expenses ratio in 2013: 0.7
| Gloucester Fund Inc: | 0.7 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2013: 74.8%
| This organization: | 74.8% |
| Other organizations performing similar types of work: | 36.7% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total revenue | $86,355 | $94,647 | $166,000 | |
| Contributions, gifts, grants, and similar amounts received | $86,212 | $91,080 | $124,195 | |
| Program service revenue including government fees and contracts | $0 | $0 | $1,170 | |
| Membership dues and assessments | $0 | $0 | $0 | |
| Investment income | $143 | $102 | $83 | |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | |
| Net income/loss from gaming and fundraising events | $0 | $3,465 | $9,572 | $40,552 |
| Gross income from gaming | $0 | $0 | $0 | $0 |
| Gross income from fundraising events | $0 | $5,065 | $52,969 | |
| Less: direct expenses from gaming and fundraising events | $0 | $1,600 | $12,417 | |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | |
| Other revenue | $0 | $0 | $0 | |
| Total expenses | $90,638 | $53,153 | $249,540 | |
| Total net assets | $31,628 | $73,122 | $58,489 | |
| Excess/Deficit for the year | $-4,283 | $41,494 | $-83,540 | |
| Net assets or fund balances at beginning of year | $35,911 | $31,628 | $142,029 | |
| Other changes in net assets or fund balances | $0 | $0 | $0 | |
| Net assets or fund balances at end of year | $58,489 | |||
| Balance Sheets | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total assets | $31,628 | $73,122 | $142,029 | $58,489 |
| Total liabilities | $0 | $0 | $0 | $0 |
| Net assets or fund balances | $31,628 | $73,122 | $58,489 | |
| Other Information | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | |||
| Were any significant changes made to the organizing or governing documents? | 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 | |||
| Amount of political expenditures, direct or indirect | $0 | |||
| Did the organization file Form 1120-POL for this year? | 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 | |||
| Total amount involved | $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 | |||
| 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 | $589,674 |
| Subtotal Support | $680,772 |
| Gifts, grants, contributions, and membership fees received | $680,772 |
| 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 | $91,098 |
| Total Support | $681,692 |
| Public Support | $680,772 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $920 |
| 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 | $0 |
| Gross receipts from related activities, etc. | $77,051 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Warren County Foundation Depository | 118 E Main St, Lebanon, OH 45036-2228 | OH | 1999-03 | $1,416,407 |
| 2 | Anne Capano Charitable Foundation For Giving Inc | 634 West Main Street, Norwich, CT 06360 | CT | 2010-01 | $683,061 |
| 3 | Woodward Dream Cruise Inc | 900 Wilshire Dr Ste 102, Troy, MI 48084-1600 | MI | 2009-09 | $663,902 |
| 4 | Swift Charities For Children | PO BOX 29243, Phoenix, AZ 85038-9243 | AZ | 2005-06 | $655,963 |
| 5 | Richard J Jones Annuitants Assistance Fund, Rjj Widows And Orphans Fund | 221 N Lasalle Ste 1626, Chicago, IL 60601-1404 | IL | 2010-12 | $531,749 |
| 6 | The Martinez Foundation | PO BOX 50270, Bellevue, WA 98015-0270 | WA | 2008-09 | $474,334 |
| 7 | Ben And Sally Lewensohn Foundation | 1215 W Baltimore Pike, Media, PA 19063-5540 | PA | 2005-03 | $461,053 |
| 8 | Boston Police Foundation Inc | 11 Arlington St, Boston, MA 02116-3406 | MA | 1994-03 | $383,395 |
| 9 | Community Connections Foundation Inc, Bostonian Group Charitable Foundati | 500 Boylston St Ste 300, Boston, MA 02116-3791 | MA | 2007-09 | $349,212 |
| 10 | Texas Elks Benevolent Corporation | 3121 Palo Duro Dr, San Angelo, TX 76904-7434 | TX | 2000-07 | $313,634 |
| 11 | Floridas Natural Growers Foundation Inc | 20205 N Us Hwy 27, Lake Wales, FL 33853 | FL | 2009-01 | $277,046 |
| 12 | Gloucester Fund Inc | 45 Middle Street No 2, Gloucester, MA 01930-5736 | MA | 2001-11 | $178,417 |
| 13 | Hanscom Fcu Charitable Foundation Inc | 1610 Elgin Street, Hanscom Afb, MA 01731 | MA | 2012-05 | $93,261 |
| 14 | Billerica Firefighters Association | 8 Good St, Billerica, MA 01821-1807 | MA | 2000-10 | $78,087 |
| 15 | Worthy Causes Inc | 10 Newton Street 3, Cambridge, MA 02139 | MA | 2007-03 | $55,534 |
| 16 | Bedford Rotary Foundation Inc | PO BOX 414, Bedford, MA 01730-0414 | MA | 1999-03 | $35,661 |
| 17 | South Shore Chamber Of Commerce Foundation Inc | 1050 Hingham Street, Rockland, MA 02370-1076 | MA | 1999-07 | $7,500 |
| 18 | Melissa Rose Kradin Foundation Inc | 11 Springdale Ave, Canton, MA 02021-3224 | MA | 2001-10 | $1,488 |
| 19 | Buonato Foundation Corporation | 12 Clock Tower Pl Ste 200, Maynard, MA 01754-2597 | MA | 2002-04 | $250 |
| 20 | Galluccio Associates Incorporated | 86 Buckingham St, Cambridge, MA 02138 | MA | 1999-09 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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