Libra Foundation Owen W Wells Trustee 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
- Other organizations in Maine
| Libra Foundation Owen W Wells Trustee | |
| Employer Identification Number (EIN) | 046626994 |
| Name of Organization | Libra Foundation Owen W Wells Trustee |
| Address | Three Canal Plaza, Portland, ME 04101-4080 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 03/1990 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $50,000,000 to greater |
| Income | $50,000,000 to greater |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $138,874,861 |
| Amount of Income | $94,605,909 |
| Form 990 Revenue Amount | $1,457,847 |
Non-representatives - add comments:
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 | $1,105,163 | $1,105,163 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $105 | |||
| Dividends and interest from securities | $1,047,494 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $-1,733,928 | |||
| Other | $1,791,492 | |||
| Total expenses and disbursements | $9,482,579 | $675,674 | $0 | $8,647,494 |
| Compensation of officers, directors, trustees, etc. | $580,000 | |||
| Total operating and administrative expenses | $1,976,810 | $675,674 | $891,725 | |
| Contributions, gifts, grants paid | $7,505,769 | |||
| Excess of revenue over expenses and disbursements | $-8,377,416 | |||
| Net investment income | $429,489 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $140,287,581 | $93,721,509 |
| Cash - non-interest-bearing | $349,400 | |
| Investments-U.S. and state government obligations | $8,278,981 | |
| Investments-corporate stock | $27,621,921 | |
| Investments-corporate bonds | $3,360,803 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $81,857,776 | |
| Other | $18,818,700 | |
| Total liabilities | $928,589 | |
| Mortgages and other notes payable | $0 | |
| Other | $928,589 | |
| Total liabilities and net assets/fund balances | $139,358,992 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $1,791,492 |
| 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 | $8,590 |
| Total credits and payments | $50,340 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $50,340 |
| 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 | $41,750 |
| Amount to be credited to 2013 estimated tax | $41,750 |
| 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? | Yes |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | Yes |
| 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? | Yes |
| 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 | $96,452,473 |
| Net value of noncharitable-use assets | $95,005,680 |
| Minimum investment return | $4,750,284 |
| Distributable Amount (for 2012) | |
| Distributable amount | $5,241,694 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $5,241,694 |
| 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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| Other organizations in Maine | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Lewiston High School Music Assoc Inc | PO BOX 1794, Lewiston, ME 04241-1794 | ME | 2001-04 | $164,123 |
| 2 | Lewiston Police Athletic League | PO BOX 7036, Lewiston, ME 04243-7036 | ME | 1998-11 | $60,727 |
| 3 | Lewiston-Auburn Area Housing Development Corporation | 1 College St, Lewiston, ME 04240-7175 | ME | 1992-06 | $235,771 |
| 4 | Lewiston-Auburn Childrens Home | PO BOX 7155, Lewiston, ME 04243-7155 | ME | 1943-02 | $18,591 |
| 5 | Lewiston-Auburn Economic Growth Council | PO BOX 1188, Lewiston, ME 04243-1188 | ME | 1981-09 | $570,628 |
| 6 | Lewiston-Auburn Jewish Federation | 74 Bradman St, Auburn, ME 04210-6330 | ME | 1950-01 | $22,910 |
| 7 | Lewistonauburn Rotary Club Scholarship Trust | C/O T Macdonald 7 Goldenwood Dr, Scarborough, ME 04074 | ME | 1997-08 | $0 |
| 8 | Lewiston-Auburn Youth Soccer Association | PO BOX 898, Auburn, ME 04212-0898 | ME | 1986-07 | $65,355 |
| 9 | Liberty School | 73 Sis Porter Rd, Sedgwick, ME 04676-3624 | ME | 1997-05 | $331,952 |
| 10 | Liberty Volunteer Ambulance Service | Po Box 174, Liberty, ME 04949 | ME | 1990-09 | $40,623 |
| 11 | Libra Foundation Owen W Wells Trustee | Three Canal Plaza, Portland, ME 04101-4080 | ME | 1990-03 | $94,605,909 |
| 12 | Libra Future Fund | PO BOX 17516, Portland, ME 04112-8516 | ME | 2005-10 | $52,000 |
| 13 | Life Christian Academy | PO BOX 686, Ellsworth, ME 04605-0686 | ME | 1999-07 | $809,776 |
| 14 | Light Of Life Ministries Inc | 160 Riverside Dr, Augusta, ME 04330-4162 | ME | 1983-03 | $658,748 |
| 15 | Lillius Gilchrest Grace Institute | PO BOX 158, Tenants Hbr, ME 04860-0158 | ME | 2015-03 | $0 |
| 16 | Limestone Development Foundation In | 93 Main Street, Limestone, ME 04750 | ME | 1981-04 | $0 |
| 17 | Lincoln County Board Of Realtors | 19 Community Dr, Augusta, ME 04330-8005 | ME | 1989-03 | $17,502 |
| 18 | Lincoln County Childrens Services | 12 Jackies Trl, Damariscotta, ME 04543-4253 | ME | 1991-11 | $673,329 |
| 19 | Lincoln County Community Theater And Orchestra, Roderick Craib Treasurer | PO BOX 237, Damariscotta, ME 04543-0237 | ME | 1986-07 | $276,114 |
| 20 | Lincoln County Historical Association | PO BOX 61, Wiscasset, ME 04578-0061 | ME | 1955-07 | $81,926 |
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