B Tate Hibschman Memorial Scholarship Fund Inc in Abingdon, Maryland (MD)

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B Tate Hibschman Memorial Scholarship Fund Inc
Employer Identification Number (EIN)522100189
Name of OrganizationB Tate Hibschman Memorial Scholarship Fund Inc
In Care of NameJames D Burgess
Address3006 Cascade Dr, Abingdon, MD 21009-2821
SubsectionCharitable Organization
Ruling Date03/1999
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
Assets$10,000 to $24,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$16,982
Amount of Income$517
Form 990 Revenue Amount$517
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2010: $517 (it was $523 in 2009)
B Tate Hibschman Memorial Scholarship Fund Inc: 

 $517
Other organizations performing similar types of work: 

 $41,680

Assets in 2010: $16,982 (it was $17,472 in 2009)
B Tate Hibschman Memorial Scholarship Fund Inc: 

 $16,982
Other organizations performing similar types of work: 

 $65,579

Expenses in 2010: $1,007
This organization: 

 $1,007
Other organizations performing similar types of work: 

 $24,470

Income to expenses ratio in 2010: 0.5
This organization: 

 0.5
Other organizations performing similar types of work: 

 0.5

Grants share in income in 2010: 96.7%
This organization: 

 96.7%
Other organizations performing similar types of work: 

 9.0%

Financial snapshot ($)

Revenue for 2010

Expenses for 2010

Analysis of Revenue and Expenses (for 2010)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$517$17$0
Contributions, gifts, grants, etc., received$500
Interest on savings and temporary cash investments$17
Dividends and interest from securities$0
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$1,007$0$0$1,000
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$7$0$0
Contributions, gifts, grants paid$1,000
Excess of revenue over expenses and disbursements$-490
Net investment income$17
Adjusted net income$0
Balance Sheets (for 2010)
Book ValueFair Market Value
Total assets$16,982$16,982
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$16,982
Total liabilities$0
Total liabilities and net assets/fund balances$16,982
Capital Gains and Losses for Tax on Investment Income (for 2010)
Capital gain net income$0
Net capital loss$0
Excise Tax Based on Investment Income (for 2010)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$0
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$0
Amount to be credited to 2011 estimated tax$0
Statements Regarding Activities (for 2010)
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 2010 or the taxable year beginning in 2010?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2010)
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 2010, did the foundation have any undistributed income for tax year(s) beginning before 2010?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?Yes
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 2010)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$17,144
Net value of noncharitable-use assets$16,880
Minimum investment return$844
Distributable Amount (for 2010)
Distributable amount$844
Undistributed Income (for 2010)
Distributable amount for 2010$844
Undistributed income for 2010. This amount must be distributed in 2011$0
Private Operating Foundations (for 2010)
2010200920082007Total
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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Number of organizations performing similar types of work
Alaska48
Alabama286
Arkansas212
Arizona375
California2,590
Colorado397
Connecticut360
District of Columbia210
Delaware90
Florida1,248
Georgia644
Hawaii125
Iowa241
Idaho90
Illinois1,083
Indiana348
Kansas216
Kentucky271
Louisiana247
Massachusetts819
Maryland580
Maine135
Michigan690
Minnesota353
Missouri459
Mississippi159
Montana122
North Carolina631
North Dakota29
Nebraska124
New Hampshire145
New Jersey1,137
New Mexico122
Nevada157
New York1,581
Ohio902
Oklahoma233
Oregon274
Pennsylvania951
Rhode Island132
South Carolina243
South Dakota54
Tennessee325
Texas2,055
Utah196
Virginia649
Vermont87
Washington473
Wisconsin403
West Virginia110
Wyoming43
International27
Total23,481

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