The Willowbank Foundation in Marblehead, 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 Willowbank Foundation | |
| Employer Identification Number (EIN) | 046819602 |
| Name of Organization | The Willowbank Foundation |
| In Care of Name | Tonneson & Co |
| Address | 123 Pleasant St Ste 202, Marblehead, MA 01945-2381 |
| Activities | Gifts, grants, or loans to other organizations, Gifts or grants to individuals (other than scholarships) |
| Subsection | Charitable Organization |
| Ruling Date | 04/1997 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $500,000 to $999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $873,705 |
| Amount of Income | $1,036,508 |
| Form 990 Revenue Amount | $69,635 |
| National Taxonomy of Exempt Entities (NTEE) | Employment, Job-Related: Goodwill Industries |
Non-representatives - add comments:
Amount of income in 2013: $1,036,508 (it was $822,964 in 2012)
| The Willowbank Foundation: | $1,036,508 |
| Other organizations performing similar types of work: | $9,287,335 |
Assets in 2013: $873,705 (it was $735,666 in 2012)
| The Willowbank Foundation: | $873,705 |
| Other organizations performing similar types of work: | $7,616,804 |
Expenses in 2012: $131,683
| The Willowbank Foundation: | $131,683 |
| Other organizations performing similar types of work: | $8,924,833 |
Income to expenses ratio in 2012: 7.9
| This organization: | 7.9 |
| Other organizations performing similar types of work: | 1.2 |
Grants share in income in 2012: -0.0%
| This organization: | -0.0% |
| Other organizations performing similar types of work: | 20.4% |
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 | $-964 | $13,703 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $2 | |||
| Dividends and interest from securities | $10,941 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $2,760 | |||
| Total expenses and disbursements | $131,683 | $3,350 | $0 | $128,333 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $3,350 | $3,350 | $0 | |
| Contributions, gifts, grants paid | $128,333 | |||
| Excess of revenue over expenses and disbursements | $-132,647 | |||
| Net investment income | $10,353 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $735,666 | $813,574 |
| Cash - non-interest-bearing | $11,851 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $723,815 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $735,666 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-14,667 |
| 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 | $104 |
| Total credits and payments | $640 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $640 |
| 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 |
| Tax due | $0 |
| Overpayment | $536 |
| Amount to be credited to 2013 estimated tax | $536 |
| 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 | $825,675 |
| Net value of noncharitable-use assets | $813,300 |
| Minimum investment return | $40,665 |
| Distributable Amount (for 2012) | |
| Distributable amount | $40,561 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $40,561 |
| 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 | Southern Oregon Goodwill Industries | 11 W Jackson St, Medford, OR 97501-2332 | OR | 1968-09 | $14,939,713 |
| 2 | Sandy River Charitable Foundation | 349 Voter Hill Rd, Farmington, ME 04938-6030 | ME | 1997-04 | $36,712,146 |
| 3 | Zanesville Welfare Org & Goodwill Industries | 3610 West Pike, Zanesville, OH 43701-9335 | OH | 1942-10 | $10,654,060 |
| 4 | Goodwill Industries Of The Pioneer Valley Inc | 570 Cottage St, Springfield, MA 01104-3353 | MA | 1942-07 | $6,840,796 |
| 5 | Rosenthal Fund | 784 Park Avenue No 19b, New York, NY 10021-3553 | NY | 1997-04 | $2,179,160 |
| 6 | South Shore Bank Charitable Foundation Inc | 1530 Main St, S Weymouth, MA 02190-1310 | MA | 1997-04 | $1,595,539 |
| 7 | The Willowbank Foundation | 123 Pleasant St Ste 202, Marblehead, MA 01945-2381 | MA | 1997-04 | $1,036,508 |
| 8 | Whittingham Family Foundation Inc | 1200 High Ridge Rd Ste 2, Stamford, CT 06905-1202 | CT | 1997-04 | $933,142 |
| 9 | Tilles Family Foundation | 7600 Jericho Tpke, Woodbury, NY 11797-1728 | NY | 1997-04 | $388,100 |
| 10 | Jacobs Fam Charitable Tr, Ayer Peter R Jr Ttee | 5 Market Sq Ste 107 # 507, Amesbury, MA 01913-2431 | MA | 1997-08 | $336,419 |
| 11 | Somerset Hills Education Foundation | 25 Olcott Ave, Bernardsville, NJ 07924-2307 | NJ | 1997-06 | $147,731 |
| 12 | David And Elizabeth A Gormley Family Foundation Inc | 83 Carriage Way, Sudbury, MA 01776-2840 | MA | 1997-06 | $126,682 |
| 13 | Massbank Charitable Foundation | 123 Haven St, Reading, MA 01867-2952 | MA | 1997-04 | $60,191 |
| 14 | Schwimmers Foundation, Schwimmer Leiser Ttee | 266 Keap St Apt 2r, Brooklyn, NY 11211-7391 | NY | 1997-05 | $59,007 |
| 15 | Schiff Family Foundation Inc | 1060 5th Ave, New York, NY 10128-0104 | NY | 1997-04 | $55,788 |
| 16 | Westfield High School Ice Hockey Association | PO BOX 2864, Westfield, NJ 07091-2864 | NJ | 1997-08 | $54,848 |
| 17 | Solan Family Foundation Inc | 1 Dolma Rd, Scarsdale, NY 10583-4505 | NY | 1997-05 | $44,747 |
| 18 | Carolyn & Laurence Tribe Fam Charitable Foundation Tr, Tribe Laurence H & Carolyn K Ttee | 1340 Soldiers Field Rd, Boston, MA 02135-1000 | MA | 1997-04 | $44,567 |
| 19 | Baudoin Family Foundation Inc | 26r Antrim St, Cambridge, MA 02139-1102 | MA | 1997-09 | $1,493 |
| 20 | Trailside Museum Charitable Trust | 1904 Canton Ave, Milton, MA 02186 | MA | 1991-05 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 132 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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