Higher Education Assistance Foundation in Portland, Maine (ME)
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
| Higher Education Assistance Foundation | |
| Employer Identification Number (EIN) | 010265587 |
| Name of Organization | Higher Education Assistance Foundation |
| In Care of Name | Marc Owen |
| Address | 489 Congress St Ste 3, Portland, ME 04101-3415 |
| Activities | Other school related activities |
| Subsection | Charitable Organization |
| Ruling Date | 01/1958 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 09/2014 |
| Assets | $100,000 to $499,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $245,614 |
| Amount of Income | $18,645 |
| Form 990 Revenue Amount | $6,740 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2014: $18,645 (it was $13,989 in 2012)
| Higher Education Assistance Foundation: | $18,645 |
| Other organizations performing similar types of work: | $120,160 |
Assets in 2014: $245,614 (it was $247,702 in 2012)
| Higher Education Assistance Foundation: | $245,614 |
| Other organizations performing similar types of work: | $450,518 |
Expenses in 2012: $11,695
| Higher Education Assistance Foundation: | $11,695 |
| Other organizations performing similar types of work: | $61,287 |
Income to expenses ratio in 2012: 1.6
| This organization: | 1.6 |
| Other organizations performing similar types of work: | 7.3 |
Grants share in income in 2012: 62.9%
| Higher Education Assistance Foundation: | 62.9% |
| Other organizations performing similar types of work: | 8.9% |
Revenue for 2012
Expenses 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 | $13,989 | $5,189 | $5,189 | |
| Contributions, gifts, grants, etc., received | $8,800 | |||
| Interest on savings and temporary cash investments | $5,189 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $11,695 | $95 | $600 | $11,000 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $695 | $95 | $0 | |
| Contributions, gifts, grants paid | $11,000 | |||
| Excess of revenue over expenses and disbursements | $2,294 | |||
| Net investment income | $5,094 | |||
| Adjusted net income | $4,589 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $247,702 | $247,702 |
| 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 | $247,702 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $247,702 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| 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 | $102 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $102 |
| 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 | $246,555 |
| Net value of noncharitable-use assets | $242,860 |
| Minimum investment return | $12,143 |
| Distributable Amount (for 2012) | |
| Distributable amount | $12,041 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $12,041 |
| 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 | The Patterson Foundation | 2 N Tamiami Trl Ste 206, Sarasota, FL 34236-5585 | FL | 1997-04 | $75,305,780 |
| 2 | Wallace H Coulter Foundation | 790 Nw 107th Ave Ste 215, Miami, FL 33172-3158 | FL | 1997-07 | $64,864,567 |
| 3 | The Kimball Foundation | 1660 Bush St, San Francisco, CA 94109-5308 | CA | 1998-01 | $30,232,965 |
| 4 | Tuchman Family Foundation | 5251 Dtc Pkwy Ste 995, Englewood, CO 80111-2738 | CO | 1997-06 | $28,714,366 |
| 5 | Siemer Family Foundation | 1234 E Broad St, Columbus, OH 43205-1405 | OH | 1997-09 | $23,049,203 |
| 6 | Bakken Family Wrc Foundation | 90 S 7th St Ste 5300, Minneapolis, MN 55402-4120 | MN | 1996-09 | $22,395,247 |
| 7 | Old Bug Light Charitable Foundation | PO BOX 7160, Portland, ME 04112-7160 | ME | 1998-03 | $869,504 |
| 8 | Messler Family Foundation | PO BOX 595, Camden, ME 04843-0595 | ME | 1998-02 | $537,920 |
| 9 | Brook Family Foundation | 9 Korhonen Rd, Norway, ME 04268-4222 | ME | 1997-03 | $387,950 |
| 10 | White Pine Foundation | PO BOX 7160, Portland, ME 04112-7160 | ME | 1998-01 | $386,258 |
| 11 | Saco & Biddeford Savings Charitable Foundation | 252 Main St, Saco, ME 04072-1511 | ME | 1998-04 | $384,960 |
| 12 | Androscoggin Banks Mainstreet Foundation | PO BOX 1407, Lewiston, ME 04243-1407 | ME | 1997-12 | $283,691 |
| 13 | Dorothy G And Stanley E Worden Charitable Foundation | C/O Robert B Gregory, Damariscotta, ME 04543 | ME | 1998-08 | $214,791 |
| 14 | Dunn Russell And Jacobs Foundation | 179 Knowltons Shore Rd, Liberty, ME 04949 | ME | 1998-08 | $178,054 |
| 15 | Jana Fund | PO BOX 3906, Portland, ME 04104-3906 | ME | 1998-01 | $115,738 |
| 16 | Bradley Family Foundation | 242 Flying Point Rd, Freeport, ME 04032-6512 | ME | 1998-01 | $110,024 |
| 17 | Bopp Fam Charitable Tr, Bopp Family Foundation | 6 Mayflower Rd, Falmouth, ME 04105-2811 | ME | 1998-03 | $83,510 |
| 18 | Tabell Fam Foundation Tr, Kasprak Margaret T Et Al Ttee | 29 Northwood Rd, West Bath, ME 04530-6625 | ME | 1997-06 | $68,785 |
| 19 | Henley Foundation Tr, Beane Frank E Jr & Andrea R Ttees | PO BOX 479, Rockport, ME 04856-0479 | ME | 1998-03 | $47,510 |
| 20 | Rebuilding Together-Greater Portland | Po Box 18212, Portland, ME 04112-8212 | ME | 1994-06 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 5,225 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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