Philipson Foundation in Baltimore, Maryland (MD)

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Philipson Foundation
Employer Identification Number (EIN)527018294
Name of OrganizationPhilipson Foundation
In Care of NameBrian A Balenson
Address13 Diamond Crest Ct, Baltimore, MD 21209-1500
SubsectionCharitable Organization
Ruling Date03/2000
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Tax Period12/2012
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$56,394
Amount of Income$53,419
Form 990 Revenue Amount$-4,255
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2012: $53,419 (it was $14,864 in 2011)
This organization: 

 $53,419
Other organizations performing similar types of work: 

 $105,489

Assets in 2012: $56,394 (it was $15,709 in 2011)
Philipson Foundation: 

 $56,394
Other organizations performing similar types of work: 

 $325,460

Expenses in 2012: $10,200
Philipson Foundation: 

 $10,200
Other organizations performing similar types of work: 

 $49,058

Income to expenses ratio in 2012: 5.2
Philipson Foundation: 

 5.2
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 0.0%
Philipson Foundation: 

 0.0%
Other organizations performing similar types of work: 

 22.8%

Financial snapshot ($)

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$50,885$50,885$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$0
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$50,885
Total expenses and disbursements$10,200$0$0$10,200
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$0$0$0
Contributions, gifts, grants paid$10,200
Excess of revenue over expenses and disbursements$40,685
Net investment income$50,885
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$56,394$98,578
Cash - non-interest-bearing$54,366
Investments-U.S. and state government obligations$0
Investments-corporate stock$2,028
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$56,394
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$50,885
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$1,018
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$1,018
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$89,762
Net value of noncharitable-use assets$88,420
Minimum investment return$4,421
Distributable Amount (for 2012)
Distributable amount$3,403
Undistributed Income (for 2012)
Distributable amount for 2012$3,403
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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
IdNameAddressStateEstablishedTotal Income
1Ruth Carol Fund IncPO BOX 1795, Baltimore, MD 21203-1795MD2005-06$14,339,028
2Frank E & Miriam Loveman Foundation Inc10711 Red Run Blvd Ste 101, Owings Mills, MD 21117-5138MD2013-04$9,096,785
3Medway Charitable Trust901 South Bond Street, Baltimore, MD 21231-3339MD2012-09$7,231,925
4The Ceres Foundation Inc 43j-74d5418606 Reliant Dr, Gaithersburg, MD 20879-5422MD2002-05$6,863,111
5David D Smith Family Foundation Inc10706 Beaver Dam Rd, Cockeysville, MD 21030-2207MD2013-08$5,188,317
6Roz And Marvin H Weiner Family Foundation IncPO BOX 487, Owings Mills, MD 21117-0487MD2009-02$4,251,692
7Wright Family Foundation, Wright Vernon H C Ttee14626 Thornton Mill Rd, Sparks, MD 21152-9633MD2000-12$3,957,194
8Evelyn Johnson Charitable Foundation Inc307 International Cir Ste 5703, Hunt Valley, MD 21030-1321MD2015-01$3,775,925
9A M Digiulian Foundation Inc111 Rockville Pike Ste 475, Rockville, MD 20850-5162MD2013-03$3,667,242
10Helen J Serini Foundation Inc471 Mountain Rd, Crownsville, MD 21032-1610MD2015-04$3,664,594
11Olive Tree Charitable Foundation Inc5009 Honeygo Center Dr Ste 200, Perry Hall, MD 21128-9842MD2013-03$2,714,471
12David And June Trone Family Foundation11417 Skipwith Ln, Potomac, MD 20854-1640MD2011-11$2,537,124
13The Dorney-Koppel Family Charitable Foundation Inc10701 Ardnave Pl, Potomac, MD 20854-1261MD2000-05$2,337,483
14Payne Family Foundation100 Light Street, Baltimore, MD 21202-1036MD2011-09$2,013,881
15The@anne Lindsey Otenasek Charitable Foundation Inc405 E Joppa Rd Ste 200, Baltimore, MD 21286-5467MD2004-08$1,895,787
16V & S Foundation Inc17700 Cliffbourne Ln, Rockville, MD 20855-1102MD2008-09$1,849,569
17The@william J Shaw Family Foundation Inc10833 Alloway Dr, Potomac, MD 20854-1504MD2001-11$1,804,590
18Rhonas Place Foundation22 W Pennsylvania Ave Ste 606, Towson, MD 21204-5005MD2011-08$1,772,349
19The Stewart And Marlene Greenebaum Family Foundation Inc1829 Reisterstown Rd Ste 410, Baltimore, MD 21208-7107MD1998-12$1,550,796
20Herman & Walter Samuelson Foundation Inc409 Washington Ave Ste 900, Towson, MD 21204-4906MD2011-09$1,493,076
Number of organizations performing similar types of work
Alaska25
Alabama219
Arkansas78
Arizona303
California2,586
Colorado408
Connecticut419
District of Columbia111
Delaware583
Florida1,525
Georgia481
Hawaii85
Iowa178
Idaho58
Illinois1,113
Indiana311
Kansas157
Kentucky167
Louisiana161
Massachusetts705
Maryland425
Maine85
Michigan619
Minnesota384
Missouri346
Mississippi70
Montana69
North Carolina788
North Dakota20
Nebraska169
New Hampshire75
New Jersey876
New Mexico92
Nevada215
New York2,617
Ohio698
Oklahoma228
Oregon208
Pennsylvania1,086
Rhode Island184
South Carolina171
South Dakota32
Tennessee266
Texas1,263
Utah274
Virginia477
Vermont54
Washington401
Wisconsin354
West Virginia69
Wyoming63
International44
Total22,395

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