Richard C Paine Jr Automobile Collection Charitable Trust 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
| Richard C Paine Jr Automobile Collection Charitable Trust | |
| Employer Identification Number (EIN) | 016080444 |
| Name of Organization | Richard C Paine Jr Automobile Collection Charitable Trust |
| In Care of Name | John Pm Higgins |
| Address | C/O Spinnaker Trust 123 Free Street, Portland, ME 04101 |
| Subsection | Educational Organization |
| Ruling Date | 12/2008 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $13,865,317 |
| Amount of Income | $2,268,019 |
| Form 990 Revenue Amount | $591,984 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Nonmonetary Support (Not Elsewhere Classified) |
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 | $222,351 | $219,537 | $178,741 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $158,438 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $303 | |||
| Other | $63,610 | |||
| Total expenses and disbursements | $562,719 | $207,087 | $0 | $355,632 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $269,871 | $207,087 | $62,784 | |
| Contributions, gifts, grants paid | $292,848 | |||
| Excess of revenue over expenses and disbursements | $-340,368 | |||
| Net investment income | $12,450 | |||
| Adjusted net income | $178,741 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $14,099,369 | $21,088,866 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $4,924,962 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $191,162 | |
| Other | $8,983,245 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $14,099,369 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $63,610 |
| 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 | $125 |
| Total credits and payments | $1,200 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $1,200 |
| 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 | $1,075 |
| 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? | 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? | Yes |
| 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 | $6,779,937 |
| Net value of noncharitable-use assets | $6,678,240 |
| Minimum investment return | $333,912 |
| 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 | $178,741 | $222,974 | $313,339 | $139,431 | $854,485 |
| Qualifying distributions made directly for active conduct of exempt activities | $355,632 | $224,480 | $202,597 | $168,838 | $951,547 |
| Value of all assets | $1 | $0 | $0 | $0 | $1 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $222,608 | $223,869 | $208,893 | $196,401 | $851,771 |
| 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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| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Residential Care Services Of Maine, Essex Street Boarding Home | 227 Essex St, Bangor, ME 04401-4001 | ME | 1991-05 | $425,358 |
| 2 | Residential Initiatives For Maine | 100 Waterman Dr Ste 102, S Portland, ME 04106-2880 | ME | 2003-01 | $138,766 |
| 3 | Resilience Inc | PO BOX 512, Skowhegan, ME 04976-0512 | ME | 2004-09 | $65,553 |
| 4 | Resources First Foundation | 189 Main Street, Yarmouth, ME 04096-6811 | ME | 2000-06 | $730,172 |
| 5 | Resources For Organizing And Social Change | 161 Stovepipe Aly, Monroe, ME 04951-3203 | ME | 1978-05 | $38,167 |
| 6 | Responsible Pet Care Of Oxford Hills | 9 Swallow Rd, South Paris, ME 04281-6541 | ME | 1995-12 | $256,783 |
| 7 | Restorative Justice Project Of The Midcoast | 96 Main St, Belfast, ME 04915-6533 | ME | 2008-01 | $385,252 |
| 8 | Restore The North Woods Inc | 9 Union St, Hallowell, ME 04347-1365 | ME | 1993-03 | $128,001 |
| 9 | Reverb Inc | 386 Fore St Ste 202, Portland, ME 04101-4047 | ME | 2006-02 | $1,605,279 |
| 10 | Rice Public Library | 8 Wentworth St, Kittery, ME 03904-1756 | ME | 1949-03 | $474,086 |
| 11 | Richard C Paine Jr Automobile Collection Charitable Trust | C/O Spinnaker Trust 123 Free Street, Portland, ME 04101 | ME | 2008-12 | $2,268,019 |
| 12 | Richard S Petty Charitable Foundation, Bhts & Jk Petty Co-Ttees | PO BOX 1100, Ellsworth, ME 04605-1100 | ME | 1999-08 | $442,296 |
| 13 | Richmond Area Helth Center Inc | 24 Gardiner St, Richmond, ME 04357-1336 | ME | 1977-02 | $94,039 |
| 14 | Richmond Eldercare Coalition | PO BOX 145, Richmond, ME 04357-0145 | ME | 1995-04 | $538,804 |
| 15 | Ricky Craven Charity Ride | PO BOX 2223, Bangor, ME 04402-2223 | ME | 2003-02 | $286,860 |
| 16 | Riding To The Top | 14 Lilac Dr, Windham, ME 04062-4063 | ME | 1994-09 | $532,014 |
| 17 | Rightstart Inc | PO BOX 726, Norway, ME 04268-0726 | ME | 1982-10 | $66,142 |
| 18 | Riley School Inc | PO BOX 159, Rockport, ME 04856-0159 | ME | 1973-01 | $722,035 |
| 19 | Rippleffect Inc | PO BOX 441, Portland, ME 04112-0441 | ME | 2000-12 | $918,964 |
| 20 | Rippling Waters Farm | PO BOX 403, Buxton, ME 04093 | ME | 2006-11 | $147,449 |
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