Degroot Family Foundation in Watervliet, 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
- Organizations performing similar types of work
| Degroot Family Foundation | |
| Employer Identification Number (EIN) | 061654753 |
| Name of Organization | Degroot Family Foundation |
| In Care of Name | Shirley Leith |
| Address | PO BOX 660, Watervliet, MI 49098-0660 |
| Subsection | Charitable Organization |
| Ruling Date | 02/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $5,000,000 to $9,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $9,228,347 |
| Amount of Income | $8,878,960 |
| Form 990 Revenue Amount | $86,501 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations |
Non-representatives - add comments:
Amount of income in 2013: $8,878,960 (it was $225,390 in 2012)
| This organization: | $8,878,960 |
| Other organizations performing similar types of work: | $103,138 |
Assets in 2013: $9,228,347 (it was $1,049,361 in 2012)
| This organization: | $9,228,347 |
| Other organizations performing similar types of work: | $338,623 |
Expenses in 2012: $225,290
| Degroot Family Foundation: | $225,290 |
| Other organizations performing similar types of work: | $46,867 |
Income to expenses ratio in 2012: 39.4
| This organization: | 39.4 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 0.0%
| Degroot Family Foundation: | 0.0% |
| Other organizations performing similar types of work: | 79.6% |
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 | $24,137 | $25,390 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $12,519 | |||
| Dividends and interest from securities | $12,871 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $225,290 | $2,464 | $0 | $222,826 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $4,490 | $2,464 | $2,026 | |
| Contributions, gifts, grants paid | $220,800 | |||
| Excess of revenue over expenses and disbursements | $-201,153 | |||
| Net investment income | $22,926 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,049,361 | $1,241,590 |
| Cash - non-interest-bearing | $7,228 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $519,292 | |
| Investments-corporate bonds | $103,940 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $418,901 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,049,361 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-1,253 |
| 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 | $229 |
| Total credits and payments | $480 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $480 |
| 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 | $251 |
| Amount to be credited to 2013 estimated tax | $251 |
| 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 | $1,384,575 |
| Net value of noncharitable-use assets | $1,363,800 |
| Minimum investment return | $68,190 |
| Distributable Amount (for 2012) | |
| Distributable amount | $67,961 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $67,961 |
| 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 | William Davidson Foundation | 2 Towne Sq Ste 905, Southfield, MI 48076-3726 | MI | 2006-10 | $196,471,270 |
| 2 | William M Davidson Magnifying Glass Grat 01-21-09, Jonathan S Aaron Ttee | 2 Towne Sq Ste 905, Southfield, MI 48076-3726 | MI | 2011-01 | $79,405,678 |
| 3 | Richard And Helen Devos Foundation | 126 Ottawa Ave Nw Ste 500, Grand Rapids, MI 49503-2882 | MI | 2012-08 | $26,088,118 |
| 4 | The Charboneau Family Foundation | 43535 Carla Dr, Paw Paw, MI 49079-9759 | MI | 2007-11 | $17,862,347 |
| 5 | Joshua-Jim And Eunice Stone Foundation | 27235 Ovid Ct, Franklin, MI 48025-1036 | MI | 2011-01 | $10,375,084 |
| 6 | The Micah 6 8 Foundation | PO BOX 451, Zeeland, MI 49464-0451 | MI | 2007-06 | $8,090,348 |
| 7 | Zatkoff Family Foundation | 23230 Industrial Park Drive, Farmington Hills, MI 48335-2850 | MI | 2001-02 | $7,805,652 |
| 8 | Lynn & Paul Alandt Foundation | 1901 Saint Antoine St Fl 6, Detroit, MI 48226-2310 | MI | 2010-10 | $6,556,804 |
| 9 | Marvin And Betty Danto Family Foundation | 1700 Stutz Dr Ste 25, Troy, MI 48084-4502 | MI | 2006-02 | $5,741,935 |
| 10 | Sutar Sutaruk Meyer Foundation | 30600 Nwestern Hwy Ste 245, Farmingtn Hls, MI 48334-3171 | MI | 2008-07 | $4,419,058 |
| 11 | Stanley And Judith Frankel Family Foundation | 2301 W Big Beaver Rd Ste 900, Troy, MI 48084-3332 | MI | 2000-05 | $3,509,912 |
| 12 | Herm And Shirley Geers Foundation | 320 Cologne, Lansing, MI 48917-3070 | MI | 2014-07 | $3,439,616 |
| 13 | Chilant And Mansfield Sprague Herbert Frenzell Foundation, Citigroup Trust Delaware Na Ttee | PO BOX 75000, Detroit, MI 48275-7874 | MI | 2009-08 | $2,355,565 |
| 14 | Trott Foundation | 31440 Northwestern Hwy Ste 300, Farmingtn Hls, MI 48334-5422 | MI | 2003-10 | $2,334,406 |
| 15 | Young Family Foundation | PO BOX 5430, Plymouth, MI 48170-5430 | MI | 2002-10 | $2,040,899 |
| 16 | Skiles Foundation | 101 North Main Street, Ann Arbor, MI 48104-5507 | MI | 1999-12 | $1,916,044 |
| 17 | Thompson Educational Foundation | 40500 Ann Arbor Rd E Ste 200, Plymouth, MI 48170-4483 | MI | 2002-10 | $1,855,151 |
| 18 | Jim And Diana Huckle Family Fdn, James E Huckle & Diana L Huckle Tte | 6291 Peninsula Dr, Traverse City, MI 49686-1915 | MI | 2011-07 | $1,637,790 |
| 19 | Worthington Family Foundation | PO BOX 4311, Traverse City, MI 49685-4311 | MI | 2009-07 | $1,629,568 |
| 20 | Khan Family Foundation | 861 Monroe St, Dearborn, MI 48124-2308 | MI | 2010-03 | $1,599,239 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 20,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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