Margaret Chase Smith 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
| Margaret Chase Smith Foundation | |
| Employer Identification Number (EIN) | 010388680 |
| Name of Organization | Margaret Chase Smith Foundation |
| In Care of Name | Merton Henry Esq |
| Address | PO BOX 4510, Portland, ME 04112-4510 |
| Activities | Gifts, grants, or loans to other organizations, Non financial services of facilities to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 04/1984 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $11,955,508 |
| Amount of Income | $5,283,811 |
| Form 990 Revenue Amount | $506,286 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2013: $5,283,811 (it was $3,032,424 in 2012)
| Margaret Chase Smith Foundation: | $5,283,811 |
| Other organizations performing similar types of work: | $105,489 |
Assets in 2013: $11,955,508 (it was $10,402,117 in 2012)
| This organization: | $11,955,508 |
| Other organizations performing similar types of work: | $325,460 |
Expenses in 2012: $665,536
| Margaret Chase Smith Foundation: | $665,536 |
| Other organizations performing similar types of work: | $49,058 |
Income to expenses ratio in 2012: 7.9
| This organization: | 7.9 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2012: 10.2%
| Margaret Chase Smith Foundation: | 10.2% |
| Other organizations performing similar types of work: | 22.8% |
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 | $571,544 | $512,158 | $258,886 | |
| Contributions, gifts, grants, etc., received | $58,316 | |||
| Interest on savings and temporary cash investments | $141 | |||
| Dividends and interest from securities | $257,675 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $1,070 | |||
| Other | $254,342 | |||
| Total expenses and disbursements | $665,536 | $82,340 | $83,410 | $555,881 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $572,292 | $82,340 | $462,637 | |
| Contributions, gifts, grants paid | $93,244 | |||
| Excess of revenue over expenses and disbursements | $-93,992 | |||
| Net investment income | $429,818 | |||
| Adjusted net income | $175,476 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $10,402,117 | $10,402,117 |
| Cash - non-interest-bearing | $17,481 | |
| Investments-U.S. and state government obligations | $375,562 | |
| Investments-corporate stock | $7,595,246 | |
| Investments-corporate bonds | $1,424,512 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $989,316 | |
| Total liabilities | $1,138,254 | |
| Mortgages and other notes payable | $1,138,254 | |
| Total liabilities and net assets/fund balances | $9,263,863 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $254,342 |
| 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 | $8,596 |
| Total credits and payments | $11,500 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $4,000 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $7,500 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $2,904 |
| Amount to be credited to 2013 estimated tax | $2,904 |
| 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? | Yes |
| 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? | 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? | 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 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $9,649,128 |
| Net value of noncharitable-use assets | $9,504,400 |
| Minimum investment return | $475,220 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| 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 | $175,476 | $179,634 | $199,665 | $206,334 | $761,109 |
| Qualifying distributions made directly for active conduct of exempt activities | $462,637 | $1,545,750 | $15,443 | $17,158 | $2,040,988 |
| 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 | $316,813 | $325,475 | $330,940 | $308,619 | $1,281,847 |
| 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 | Td Charitable Foundation | PO BOX 9540, Portland, ME 04112-9540 | ME | 2003-10 | $65,700,194 |
| 2 | Coulombe Family Foundation | PO BOX 9729, Portland, ME 04104-5029 | ME | 2013-02 | $13,403,657 |
| 3 | Anne Randolph Henry Charitable Foundation, Kurt E Klebe Ttee | PO BOX 31, Portland, ME 04112-0031 | ME | 2012-07 | $2,726,874 |
| 4 | Herbert E Tyler And Grace M Tyler Foundation | 19 Coralburst Ln, Scarborough, ME 04074-7152 | ME | 2014-02 | $2,413,128 |
| 5 | Vaughan Homestead Foundation | C O Peter L Murray 89 West St, Portland, ME 04102 | ME | 2000-07 | $1,441,599 |
| 6 | The Alfred M Senter Fund | PO BOX 17510, Portland, ME 04112-8510 | ME | 2001-07 | $804,546 |
| 7 | Future Builders School On Thomas Pond | Po Box 272, Raymond, ME 04071 | ME | 2001-07 | $707,606 |
| 8 | John And Margaret Wise Charitable Foundation, Kurt E Klebe Ttee | One Portland Sq, Portland, ME 04101-4057 | ME | 2013-02 | $689,676 |
| 9 | Wind Point Foundation | PO BOX 7950, Portland, ME 04112-7950 | ME | 2013-01 | $613,829 |
| 10 | Woodside Foundation | 20 York St Ste 201, Portland, ME 04101-4694 | ME | 2009-09 | $475,768 |
| 11 | Hodgkins Memorial Tr Fund | PO BOX 1100, Ellsworth, ME 04605-1100 | ME | 2011-02 | $195,672 |
| 12 | Shadie-Niles Charitable Tr | PO BOX 31, Portland, ME 04112-0031 | ME | 2001-11 | $194,766 |
| 13 | Weinberger Foundation, Jane D Weinberger Et Al Ttee | PO BOX 860, Mount Desert, ME 04660-0860 | ME | 2007-01 | $171,494 |
| 14 | Tom And Kate Chappell Familyfoundation | PO BOX 920, Kennebunk, ME 04043-0920 | ME | 2011-08 | $151,355 |
| 15 | Casco Foundation | 123 Free St, Portland, ME 04101-3919 | ME | 2014-10 | $94,827 |
| 16 | The Heliker-La Hotan Foundation Inc | 2 Heliker Rd, Cranberry Isles, ME 04625 | ME | 2001-01 | $74,492 |
| 17 | Eaton Peabody Foundation | PO BOX 1210, Bangor, ME 04402-1210 | ME | 2009-01 | $54,015 |
| 18 | Out As I Want To Be Inc | Po Box 1723, Rockland, ME 04841 | ME | 2006-04 | $47,564 |
| 19 | Andrew C Marsh Meml Fund | 21 Stevens Ave, Portland, ME 04102-2221 | ME | 2010-02 | $34,179 |
| 20 | Aaron A And Maria H Putnam Family Charitable Trust | 35 Market Sq, Houlton, ME 04730-1703 | ME | 2012-04 | $30,980 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 22,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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