The Reverend Joseph W Garafalo Scholarship Fund Inc in Worcester, Massachusetts (MA)
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
The Reverend Joseph W Garafalo Scholarship Fund Inc | |
Employer Identification Number (EIN) | 042998633 |
Name of Organization | The Reverend Joseph W Garafalo Scholarship Fund Inc |
In Care of Name | George W Smith Cpa |
Address | 2 Saybrook Rd, Worcester, MA 01604-2725 |
Activities | Scholarships (other) |
Subsection | Charitable Organization |
Ruling Date | 11/1992 |
Deductibility | Contributions are deductible |
Foundation | Private non-operating foundation |
Organization | Corporation |
Tax Period | 09/2012 |
Assets | $100,000 to $499,999 |
Income | $25,000 to $99,999 |
Filing Requirement | 990 - Not required to file (all other) |
Asset Amount | $266,700 |
Amount of Income | $72,686 |
Form 990 Revenue Amount | $27,184 |
National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Student Services, Organizations of Students |
Non-representatives - add comments:
Amount of income in 2012: $72,686 (it was $123,311 in 2011)
This organization: | $72,686 |
Other organizations performing similar types of work: | $85,334 |
Assets in 2012: $266,700 (it was $244,725 in 2011)
This organization: | $266,700 |
Other organizations performing similar types of work: | $44,771 |
Expenses in 2012: $17,586
This organization: | $17,586 |
Other organizations performing similar types of work: | $64,634 |
Income to expenses ratio in 2012: 4.1
This organization: | 4.1 |
Other organizations performing similar types of work: | 0.8 |
Grants share in income in 2012: 1.4%
This organization: | 1.4% |
Other organizations performing similar types of work: | 0.0% |
Revenue for 2012
Expenses for 2012
Assets for 2012
Analysis of Revenue and Expenses (for 2012) | ||||
Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
---|---|---|---|---|
Total revenue | $18,997 | $18,730 | $0 | |
Contributions, gifts, grants, etc., received | $267 | |||
Interest on savings and temporary cash investments | $0 | |||
Dividends and interest from securities | $8,756 | |||
Gross rents | $0 | |||
Gross profit from sales of goods | $0 | |||
Other income | $0 | |||
Other | $9,974 | |||
Total expenses and disbursements | $17,586 | $2,551 | $0 | $15,000 |
Compensation of officers, directors, trustees, etc. | $0 | |||
Total operating and administrative expenses | $2,586 | $2,551 | $0 | |
Contributions, gifts, grants paid | $15,000 | |||
Excess of revenue over expenses and disbursements | $1,411 | |||
Net investment income | $16,179 | |||
Adjusted net income | $0 |
Balance Sheets (for 2012) | ||
Book Value | Fair Market Value | |
---|---|---|
Total assets | $266,700 | $266,700 |
Cash - non-interest-bearing | $0 | |
Investments-U.S. and state government obligations | $0 | |
Investments-corporate stock | $234,298 | |
Investments-corporate bonds | $0 | |
Investments-mortgage loans | $0 | |
Investments-other | $28,316 | |
Other | $4,086 | |
Total liabilities | $0 | |
Total liabilities and net assets/fund balances | $266,700 |
Capital Gains and Losses for Tax on Investment Income (for 2012) | |
Capital gain net income | $9,974 |
Net capital loss | $0 |
Excise Tax Based on Investment Income (for 2012) | |
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
Tax based on investment income | $324 |
Total credits and payments | $0 |
Any penalty for underpayment of estimated tax | $0 |
Tax due | $324 |
Overpayment | $0 |
Amount to be credited to 2013 estimated tax | $0 |
Statements Regarding Activities (for 2012) | |
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 2012 or the taxable year beginning in 2012? | No |
Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
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 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | 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 2012) | |
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $264,238 |
Net value of noncharitable-use assets | $260,280 |
Minimum investment return | $13,014 |
Distributable Amount (for 2012) | |
Distributable amount | $12,690 |
Undistributed Income (for 2012) | |
Distributable amount for 2012 | $12,690 |
Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
Private Operating Foundations (for 2012) | |||||
2012 | 2011 | 2010 | 2009 | 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 | Student Clubs Of Hbs Inc | Soldiers Field Rd Ste Teele 281, Boston, MA 02163 | MA | 2003-07 | $2,702,738 |
2 | The Possible Project Inc | 955 Massachusetts Avenue, Cambridge, MA 02139-3233 | MA | 2010-11 | $1,284,161 |
3 | Young Peoples Project Inc | 99 Bishop Allen Dr, Cambridge, MA 02139-3428 | MA | 2001-05 | $1,133,385 |
4 | Strategies For Children Inc | 400 Atlantic Ave, Boston, MA 02110-3331 | MA | 2001-06 | $846,914 |
5 | Project Hip-Hop Inc | 2181 Washington St Ste 315, Roxbury, MA 02119-2082 | MA | 2012-05 | $198,769 |
6 | Promys Foundation | Po Box 15502, Boston, MA 02215 | MA | 2011-09 | $162,506 |
7 | Scituate Corse Foundation | PO BOX 512, N Scituate, MA 02060-0512 | MA | 2006-10 | $158,999 |
8 | Voyagers Incorporated | 530 Main St, Acton, MA 01720-3301 | MA | 2001-11 | $122,040 |
9 | Student Athletes Rising Inc | 8 Culbert Street, Mattapan, MA 02126 | MA | 2015-03 | $102,357 |
10 | Swampscott Youth Soccer Association | 50 Dennison Ave, Swampscott, MA 01907-1422 | MA | 2012-12 | $96,650 |
11 | Stride Inc | PO BOX 391146, Cambridge, MA 02139-0012 | MA | 2013-03 | $91,899 |
12 | The Reverend Joseph W Garafalo Scholarship Fund Inc | 2 Saybrook Rd, Worcester, MA 01604-2725 | MA | 1992-11 | $72,686 |
13 | Harvard Model Congress Dubai | PO BOX 380542, Cambridge, MA 02238-0542 | MA | 2013-08 | $55,950 |
14 | Waltham Choral Parents Association Inc | 240 Robbins St, Waltham, MA 02453-5861 | MA | 1997-10 | $43,557 |
15 | Scituate High School Football Andcheerleading Boosters | PO BOX 815, Scituate, MA 02066-0815 | MA | 2008-03 | $27,433 |
16 | Cultureleap Inc, Wahec | 210 Park Avenue No 222, Worcester, MA 01609-2246 | MA | 2005-12 | $20,052 |
17 | Northborough Education Foundation Inc | Po Box 1094, Northborough, MA 01532 | MA | 1999-03 | $11,652 |
18 | North Shore Baseball Umpires Association | Po Box 469, Salem, MA 01970 | MA | 2013-05 | $9,810 |
19 | Ethiopian Children Educational Development Inc | 165 Pleasent St Unit 308, Cambridge, MA 02139 | MA | 2011-02 | $7,383 |
20 | Alumnae Association Of The Harriet E Richards Cooperative House Of | 191 Bay State Road, Boston, MA 02215 | MA | 2014-11 | $2,806 |
Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total | 2,851 |
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