Anne Ray Charitable Trust, Morse Christine M Et Al Ttee in Eden Prairie, Minnesota (MN)

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Anne Ray Charitable Trust, Morse Christine M Et Al Ttee
Employer Identification Number (EIN)336197320
Name of OrganizationAnne Ray Charitable Trust
Secondary NameMorse Christine M Et Al Ttee
In Care of NameN Horsager Eide
Address6889 Rowland Rd, Eden Prairie, MN 55344-3380
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date07/1997
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,824,657,231
Amount of Income$1,618,148,489
Form 990 Revenue Amount$308,878,477
National Taxonomy of Exempt Entities (NTEE)Unknown: Unknown


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Financial snapshot ($)

Revenue for 2012

Functional expenses for 2012

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$156,732,508
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$82,542,089
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$74,005,013
Gross amount from sales of assets other than inventory (Securities / Other)$5,743,709,980 / $0
Less: cost or other basis and sales expenses (Securities / Other)$5,669,704,967 / $0
Gain or (loss) (Securities / Other)$74,005,013 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$185,406
Statement of Functional Expenses (for 2012)
Total functional expenses$79,630,768
Compensation of current officers, directors, trustees, and key employees$1,063,741
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$78,567,027
Balance Sheet (for 2012)
Total assets$3,671,093,178
Total liabilities$50,957,360
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$50,957,360
Total net assets or fund balances$3,620,135,818
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Revenue, Expenses, and Changes in Net Assets or Fund Balances
2004200520062007
Total revenue$61,792,212$33,529,534$1,918,314,287$11,835,736
Contributions, gifts, grants, and similar amounts received$60,000,000$28,000,000$1,910,671,273$0
Contributions to donor advised funds$0$0
Direct public support$60,000,000$28,000,000$1,910,671,273$0
Indirect public support$0$0$0$0
Government contributions (grants)$0$0$0$0
Program service revenue including government fees and contracts$82,889$185,302$200,844$528,733
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0
Dividends and interest from securities$1,455,184$3,861,521$4,595,529$6,065,177
Net rental income or (loss)$0$0$0$0
Gross rents$0$0$0$0
Less: rental expenses$0$0$0$0
Other investment income$7,212$-32,821$-106,170$-16,046
Gain or (loss) from sales of assets other than inventory$246,927$1,515,532$2,952,811$5,257,872
Gross amount from sales of assets other than inventory$8,948,964$72,695,138$13,022,659$24,803,834
Less: cost or other basis and sales expenses$8,702,037$71,179,606$10,069,848$19,545,962
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$0$0$0$0
Total expenses$1,954,891$2,652,577$3,022,683$5,635,874
Program services$1,609,177$2,004,086$2,103,507$3,976,874
Management and general$345,714$648,491$919,176$1,659,000
Fundraising$0$0$0$0
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$68,174,174$102,686,962$2,042,063,889$2,093,746,878
Excess or (deficit) for the year$59,837,321$30,876,957$1,915,291,604$6,199,862
Net assets or fund balances at beginning of year$8,336,853$68,174,174$102,686,962$2,042,063,889
Other changes in net assets or fund balances$0$3,635,831$24,085,323$45,483,127
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$5,635,874$3,976,874$1,659,000$0
Grants paid from donor advised funds$0
Other grants and allocations$3,744,238
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$488,405$128,989$359,416$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$15,869$0$15,869$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$35,676$9,304$26,372$0
Payroll taxes$27,833$7,328$20,505$0
Professional fundraising fees$0$0$0$0
Accounting fees$22,557$0$22,557$0
Legal fees$85,603$0$85,603$0
Supplies$24,732$0$24,732$0
Telephone$0$0$0$0
Postage and shipping$2,309$0$2,309$0
Occupancy$104,622$24,556$80,066$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$1,796$0$1,796$0
Travel$42,556$24,003$18,553$0
Conferences, conventions, and meetings$29,125$20,000$9,125$0
Interest$0$0$0$0
Depreciation, depletion, etc.$68,075$13,839$54,236$0
Other expenses not covered above$942,478$4,617$937,861$0
Balance Sheets
2004200520062007
Total assets$68,174,174$102,720,885$2,042,086,826$2,093,818,686
Cash - non-interest-bearing$0$0$0$0
Savings and temporary cash investments$36,713$364,797$585,989$671,996
Accounts receivable less allowance for doubtful accounts$0$30,261$114,158$224,052
Pledges receivable less allowance for doubtful accounts$0$0$0$0
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0
Inventories for sale or use$0$0$0$0
Prepaid expenses and deferred charges$0$2,115$16,025$14,587
Investments - publicly-traded securities$89,969,118$99,288,047
Investments - other securities$68,126,449$102,310,340$55,874,829$56,066,052
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$10,312$13,372$1,656,121$1,948,095
Other assets, including program-related investments$700$0$1,893,870,586$1,935,605,857
Total liabilities$0$33,923$22,937$71,808
Accounts payable and accrued expenses$0$33,923$22,937$71,808
Grants payable$0$0$0$0
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$0$0$0$0
Other liabilities$0$0$0$0
Total liabilities and net assets/fund balances$68,174,174$102,720,885$2,042,086,826$2,093,818,686
Total net assets or fund balances$68,174,174$102,686,962$2,042,063,889$2,093,746,878
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2004200520062007
Total revenue$61,792,212$33,529,534$1,918,314,287$11,835,736
Total revenue, gains, and other support per audited financial statements$61,792,212$34,418,694$1,942,112,937$56,794,815
Other expenses$0$1,814,722$24,521,730$46,366,047
Net unrealized gains on investments$0$1,814,722$9,322,417$4,630,776
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$15,199,313$41,735,271
Other revenue$0$925,562$723,080$1,406,968
Investment expenses$0$254,632$14,273$18,891
Other$0$670,930$708,807$1,388,077
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2004200520062007
Total expenses$1,954,891$2,652,577$3,022,683$5,635,874
Total expenses and losses per audited financial statements$1,954,891$2,354,343$2,736,010$5,111,826
Other revenue$0$0$0$0
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$0
Other expenses$0$298,234$286,673$524,048
Investment expenses$0$254,632$14,273$18,891
Other$0$43,602$272,400$505,157
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
28$149,850$12,327$450
33$118,886$6,520$4,146
37$132,186$10,642$450
9$57,262$1,282$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings4
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-24,952$11,331,955$528,733
Program service revenue
Program service revenue 1000000$000$0$528,733
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$6,065,177$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment incomeAgriculture, forestry, hunting, and fishing$-24,952Income from an activity that is not regularly carried on (section 512(a)(1))$8,906$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$5,257,872$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
421747887100%$41,629$1,792,644
383755296100%$427,743$25,145
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organization4
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
520899215Public Broadcasting ServiceOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$0
956042721San Diego State University FoundationYes$0
237433357Mingei International IncYes$0
530196605American National Red Cross, Shared Services CenterOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$1,343,725
941156347The Salvation Army, Territorial HeadquartersYes$0
952111196St Pauls Episcopal Home IncYes$463,013
410711603American Swedish InstituteOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$484,500
850125045School For Advanced ResearchOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$0
610444650Berea CollegeYes$203,000
363258696National Council Of Young Mens Christian Assns Of The UsaYes$0
530242652Nature ConservancyOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$1,250,000
Total$3,744,238
Support Schedule
2003200420052006
Total$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$13,238$0$13,238
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$132,381$0$13,238
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$2,100
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$2,100
Unrelated business taxable income$15,338
Unrelated business taxable income before net operating loss deduction$15,338
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$15,338
Specific deduction$1,000
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