Burns Foundation, Ion Inc in Petoskey, Michigan (MI)
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 Michigan
| Burns Foundation, Ion Inc | |
| Employer Identification Number (EIN) | 386034469 |
| Name of Organization | Burns Foundation |
| Secondary Name | Ion Inc |
| Address | PO BOX 370, Petoskey, MI 49770-0370 |
| Activities | Other school related activities, Gifts, grants, or loans to other organizations, Library |
| Subsection | Charitable Organization |
| Ruling Date | 08/1949 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $500,000 to $999,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $591,319 |
| Amount of Income | $51,244 |
| Form 990 Revenue Amount | $11,448 |
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 | $27,579 | $27,578 | $25,752 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $1 | |||
| Dividends and interest from securities | $25,345 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $406 | |||
| Other | $1,827 | |||
| Total expenses and disbursements | $40,270 | $10,270 | $10,270 | $9,670 |
| Compensation of officers, directors, trustees, etc. | $9,300 | |||
| Total operating and administrative expenses | $10,270 | $10,270 | $9,670 | |
| Contributions, gifts, grants paid | $30,000 | |||
| Excess of revenue over expenses and disbursements | $-12,691 | |||
| Net investment income | $17,308 | |||
| Adjusted net income | $15,482 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $597,996 | $814,672 |
| Cash - non-interest-bearing | $2,069 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $585,940 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $9,987 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $597,996 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $1,827 |
| 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 | $346 |
| Total credits and payments | $1,410 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $1,410 |
| 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 | $1,064 |
| Amount to be credited to 2013 estimated tax | $1,064 |
| 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? | 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? | 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 | $68,884 |
| Net value of noncharitable-use assets | $67,860 |
| Minimum investment return | $3,393 |
| Distributable Amount (for 2012) | |
| Distributable amount | $3,047 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $3,047 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $3,047 |
| 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 Michigan | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Bunny Run Country Club | PO BOX 82, Lake Orion, MI 48361 | MI | 1944-12 | $0 |
| 2 | Burch Family Foundation | 29 Lumbermen Way, Saginaw, MI 48603-8627 | MI | 1997-11 | $11,193 |
| 3 | Burcham Hills Foundation | 2700 Burcham Dr, East Lansing, MI 48823-3898 | MI | 1999-02 | $218,507 |
| 4 | Burcham Hills Retirement Center Ii | 2700 Burcham Drive, East Lansing, MI 48823-3898 | MI | 1989-02 | $24,643,487 |
| 5 | Burdick-Thorne Foundation Tt | 136 E Michigan Ave Ste 1201, Kalamazoo, MI 49007-3918 | MI | 1990-05 | $3,049,157 |
| 6 | Burglar & Fire Alarm Assoc Of Michigan | 1000 W Saint Joseph St Ste 200, Lansing, MI 48915-2552 | MI | 1982-12 | $59,538 |
| 7 | Burkley Road Gospel Hall | 4021 Burkley Rd, Wiliamston, MI 48895-9409 | MI | 2007-12 | $0 |
| 8 | Burl E Salisbury Memorial Scholarship Fund | Southern Michigan Bank And Trust, Coldwater, MI 49036 | MI | 1983-11 | $45,823 |
| 9 | Burnham Brook Community Center Title Holding Corporation | 34 W Jackson St One Riverwalk, Battle Creek, MI 49017 | MI | 2009-03 | $1,136,082 |
| 10 | Burns Day Care Incorporated | 16862 Warwick St, Detroit, MI 48219-4042 | MI | 1999-04 | $106,793 |
| 11 | Burns Foundation, Ion Inc | PO BOX 370, Petoskey, MI 49770-0370 | MI | 1949-08 | $51,244 |
| 12 | Burns Park Foreign Language Initiative Inc | Po Box 1616, Ann Arbor, MI 48106 | MI | 2006-03 | $0 |
| 13 | Burns Park Players Inc | 1227 Olivia Ave, Ann Arbor, MI 48104-3934 | MI | 1998-06 | $63,798 |
| 14 | Burns Park School Parent Teacher Organization | 1414 Wells St, Ann Arbor, MI 48104-3913 | MI | 1999-04 | $106,084 |
| 15 | Burr Oak Tool & Gauge Co Inc Employees Health Benefit Plan Trus | PO BOX 338, Sturgis, MI 49091-0338 | MI | 1988-09 | $5,069,127 |
| 16 | Burt Foundation | 101 N Main St 7th Floor, Ann Arbor, MI 48104-5507 | MI | 1997-07 | $2,964,514 |
| 17 | Burt Lake Band Of Ottawa And Chippewa Indians Inc | 6461 E Brutus Rd, Brutus, MI 49716 | MI | 1993-02 | $31,067 |
| 18 | Burt Lake Preservation Association | PO BOX 632, Indian River, MI 49749-0632 | MI | 1999-05 | $120,380 |
| 19 | Burton & Elizabeth Upjohn Charitable Tr | 4139 Lake Terrace Dr, Kalamazoo, MI 49008-2511 | MI | 1969-08 | $276,040 |
| 20 | Burton Hollow Swim & Racquet Club | PO BOX 530902, Livonia, MI 48153-0902 | MI | 1964-05 | $219,780 |
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