Springstep Foundation Inc in Medford, Massachusetts (MA)

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Springstep Foundation Inc
Employer Identification Number (EIN)043506220
Name of OrganizationSpringstep Foundation Inc
In Care of NameDeborah A Hawkins
Address98 George P Hassett Dr, Medford, MA 02155-3202
SubsectionCharitable Organization
Ruling Date06/2001
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$5,953,609
Amount of Income$649,771
Form 990 Revenue Amount$425,871
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


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Amount of income in 2012: $649,771
Springstep Foundation Inc: 

 $649,771
Other organizations performing similar types of work: 

 $79,074

Assets in 2012: $5,953,609
Springstep Foundation Inc: 

 $5,953,609
Other organizations performing similar types of work: 

 $63,467

Expenses in 2012: $155,146
This organization: 

 $155,146
Other organizations performing similar types of work: 

 $40,000

Income to expenses ratio in 2012: 4.2
Springstep Foundation Inc: 

 4.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 92.9%
Springstep Foundation Inc: 

 92.9%
Other organizations performing similar types of work: 

 85.5%

Grants share in income in 2012: 17.6%
This organization: 

 17.6%
Other organizations performing similar types of work: 

 9.0%

Financial snapshot ($)

Revenue for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$425,871
Contributions, Gifts, Grants and Other Similar Amounts$75,000
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$89,265
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$261,606
Gross amount from sales of assets other than inventory (Securities / Other)$485,506 / $0
Less: cost or other basis and sales expenses (Securities / Other)$223,900 / $0
Gain or (loss) (Securities / Other)$261,606 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$155,146
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$155,146
Balance Sheet (for 2012)
Total assets$5,953,609
Total liabilities$1,980,882
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$1,980,882
Total net assets or fund balances$3,972,727
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20022003200520062007
Total revenue$518,000$1,712,100$3,260,483$374,015$401,672
Contributions, gifts, grants, and similar amounts received$517,800$1,701,600$3,205,104$100,500$150,000
Contributions to donor advised funds$0$0
Direct public support$517,800$1,701,600$3,205,104$100,500$150,000
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0
Interest on savings and temporary cash investments$200$400$4,142$4,512$1,545
Dividends and interest from securities$0$0$51,237$241,411$290,601
Net rental income or (loss)$0$0$0$0$0
Gross rents$0$0$0$0$0
Less: rental expenses$0$0$0$0$0
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$10,100$0$27,592$-40,474
Gross amount from sales of assets other than inventory$0$1,692,900$0$1,149,221$682,147
Less: cost or other basis and sales expenses$0$1,682,800$0$1,121,629$722,621
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$0$0$0$0$0
Total expenses$362,600$544,300$306,845$334,390$323,985
Program services$0$544,300$298,418$312,088$300,855
Management and general$280,300$0$8,427$22,302$23,130
Fundraising$82,300$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$715,500$1,883,300$4,917,990$5,034,577$4,542,073
Excess or (deficit) for the year$155,400$1,167,800$2,953,638$39,625$77,687
Net assets or fund balances at beginning of year$560,100$715,500$1,918,721$4,917,990$5,034,577
Other changes in net assets or fund balances$0$0$45,631$76,962$-570,191
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$323,985$300,855$23,130$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$184,444$184,444$0$0
Depreciation, depletion, etc.$116,411$116,411$0$0
Other expenses not covered above$23,130$0$23,130$0
Balance Sheets
20022003200520062007
Total assets$4,358,800$5,039,800$7,874,104$7,990,459$7,555,024
Cash - non-interest-bearing$106,600$84,100$9,372$2,323$2,071
Savings and temporary cash investments$0$115,500$168,516$87,808$54,866
Accounts receivable less allowance for doubtful accounts$0$0$890$0$0
Pledges receivable less allowance for doubtful accounts$3,000$0$1,150$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$52,800$28,400$23,600$22,000$20,400
Investments - publicly-traded securities$3,405,582$3,131,532
Investments - other securities$0$0$3,050,815$0$0
Investments - land, buildings, and equipment less accumulated depreciation$4,196,400$4,811,800$4,578,977$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$4,462,566$4,346,155
Other assets, including program-related investments$0$0$40,784$10,180$0
Total liabilities$3,643,300$3,156,500$2,956,114$2,955,882$3,012,951
Accounts payable and accrued expenses$193,300$600$232$0$0
Grants payable$0$0$0$0$0
Deferred revenue$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$3,450,000$3,155,900$2,955,882$2,955,882$2,955,882
Other liabilities$0$0$0$0$57,069
Total liabilities and net assets/fund balances$4,358,800$5,039,800$7,874,104$7,990,459$7,555,024
Total net assets or fund balances$715,500$1,883,300$4,917,990$5,034,577$4,542,073
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20022003200520062007
Total revenue$518,000$1,712,100$3,260,483$374,015$401,672
Total revenue, gains, and other support per audited financial statements$518,000$1,712,100$3,297,687$612,026$37,271
Other expenses$0$0$37,204$260,313$-343,166
Net unrealized gains on investments$0$0$4,847$260,313$-343,166
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$32,357$0$0
Other revenue$0$0$0$22,302$21,235
Investment expenses$0$0$0$22,302$21,235
Other$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20022003200520062007
Total expenses$362,600$544,300$306,845$334,390$323,985
Total expenses and losses per audited financial statements$362,600$544,300$298,418$312,088$302,750
Other revenue$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$0$0
Other$0$0$0$0$0
Other expenses$0$0$8,427$22,302$21,235
Investment expenses$0$0$0$22,302$21,235
Other$0$0$8,427$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings3
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$251,672$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,545$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$290,601$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-40,474$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType II
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
412106366Springstep IncOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$159,776
Total$159,776
Support Schedule
20012002200420052006
Total$570,800$0$0$0$0
Gifts, grants, and contributions received$570,700$0$0$0$0
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$100$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Springstep Foundation Inc98 George P Hassett Dr, Medford, MA 02155-3202MA2001-06$649,771
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Number of organizations performing similar types of work
Alaska1
Alabama8
Arkansas12
Arizona21
California89
Colorado22
Connecticut11
District of Columbia5
Delaware5
Florida52
Georgia31
Hawaii8
Iowa19
Idaho9
Illinois28
Indiana20
Kansas9
Kentucky16
Louisiana14
Massachusetts19
Maryland19
Maine6
Michigan29
Minnesota15
Missouri21
Mississippi5
Montana3
North Carolina29
North Dakota2
Nebraska9
New Hampshire3
New Jersey16
New Mexico7
Nevada2
New York48
Ohio46
Oklahoma14
Oregon7
Pennsylvania27
Rhode Island1
South Carolina10
South Dakota1
Tennessee11
Texas96
Utah7
Virginia30
Vermont5
Washington23
Wisconsin23
West Virginia5
Wyoming2
International3
Total924

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