The Saint Paul Foundation in Saint Paul, Minnesota (MN)

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The Saint Paul Foundation
Employer Identification Number (EIN)416031510
Name of OrganizationThe Saint Paul Foundation
Address101 5th St E Ste 2400, Saint Paul, MN 55101-1800
ActivitiesCommunity Chest, United Way, etc.
SubsectionCharitable Organization
Ruling Date02/1995
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
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$785,003,567
Amount of Income$166,230,569
Form 990 Revenue Amount$87,728,997
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2013: $166,230,569
The Saint Paul Foundation: 

 $166,230,569
Other organizations performing similar types of work: 

 $18,946,686

Assets in 2013: $785,003,567
This organization: 

 $785,003,567
Other organizations performing similar types of work: 

 $79,452,997

Expenses in 2013: $70,808,535
The Saint Paul Foundation: 

 $70,808,535
Other organizations performing similar types of work: 

 $5,721,898

Income to expenses ratio in 2013: 2.3
This organization: 

 2.3
Other organizations performing similar types of work: 

 3.1

Expenses allocated to program services in 2007: 93.3%
The Saint Paul Foundation: 

 93.3%
Other organizations performing similar types of work: 

 87.6%

Number of employees in 2013: 93
This organization: 

 93
Other organizations performing similar types of work: 

 12

Employees paid over $100,000 in 2013: 25.8%
The Saint Paul Foundation: 

 25.8%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 48.2%
The Saint Paul Foundation: 

 48.2%
Other organizations performing similar types of work: 

 66.9%

Financial snapshot ($)

0
160,000,000
320,000,000
480,000,000
640,000,000
800,000,000
2000
2001
2002
2003
2004
2005
2006
2007
2008
2010
2011
2012
2013
Revenue
Assets
Expenses

Revenue for 2013

Contributions, Gifts, Grants etc. (48%)
Other (5%)
Sales of assets other than inventory (34%)
Investment income (13%)

Assets at the end of 2013

Investments - publicly traded securities (74%)
Other (2%)
Investments - other securities (23%)

Functional expenses for 2013

Grants to domestic organizations (75%)
Salaries and wages (8%)
Other (9%)
Fees for services (non-employees) (8%)

Support schedule

Gifts, grants and membership fees received (79%)
Gross income from interest etc. (21%)
Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?YesYes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?YesYes
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10966262
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return9793
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?YesYes
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,422,895$1,583,406
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$232,443$273,278
Total number of individuals who received more than $100,000 of reportable compensation from the organization912
Total number of independent contractors who received more than $100,000 of compensation from the organization812
Statement of Revenue
201120122013
Total revenue$89,802,030$66,338,852$87,728,997
Contributions, Gifts, Grants and Other Similar Amounts$52,554,514$37,922,428$42,272,193
Program Service Revenue$3,082,728$3,290,325$4,034,685
561000$3,069,462$3,885,815
Consumer Lending $220,863$148,870
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$12,205,676$11,592,871$11,493,972
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$1,686$1,359$1,109
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$21,835,157$13,356,653$29,707,928
Gross amount from sales of assets other than inventory (Securities / Other)$240,724,538 / $0$64,119,013 / $0$108,209,500 / $0
Less: cost or other basis and sales expenses (Securities / Other)$218,889,381 / $0$50,762,360 / $0$78,501,572 / $0
Gain or (loss) (Securities / Other)$21,835,157 / $0$13,356,653 / $0$29,707,928 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$122,269$175,216$219,110
900099$175,216$219,110
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$70,638,294$92,525,679$70,808,535
Grants and other assistance to domestic organizations and domestic governments$76,476,450$53,079,083
Grants and other assistance to domestic individuals$1,013,569$937,696
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$1,334,477$1,109,301$1,170,312
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$4,411,083$4,689,818$5,531,402
Pension plan accruals and contributions$413,672$421,069
Other employee benefits$569,671$596,330
Payroll taxes$407,796$462,165$452,512
Fees for services (non-employees)
Management$0$0
Legal$95,817$127,614
Accounting$99,383$90,887
Lobbying$215,092$126,414
Professional fundraising services$76,415$86,771$63,279
Investment management fees$2,576,115$3,100,471
Other$2,407,023$2,508,245
Advertising and promotion$246,329$247,427
Office expenses$282,656$450,125
Information technology$331,638$333,212
Royalties$0$0
Occupancy$382,625$444,373
Travel$91,260$97,882
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$172,082$184,376
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$318,638$332,256
Insurance$121,395$133,786
Other expenses$138,239$132,278
Other expenses$57,311$89,677
Other expenses$39,309$58,010
Other expenses$129,350$99,819
Balance Sheet
201120122013
Total assets$675,284,221$695,259,473$785,003,567
Cash - non-interest-bearing$301$0
Savings and temporary cash investments$3,713,650$3,113,754
Pledges and grants receivable, net$4,604,577$8,041,587
Accounts receivable, net$1,039,931$955,439
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$96,555$102,348
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$95,625$56,332
Land, buildings, and equipment: cost or other basis$870,545$1,419,250
Investments - publicly traded securities$499,548,760$582,786,813
Investments - other securities$180,819,752$184,104,651
Investments - program-related$2,473,673$2,435,442
Intangible assets$0$0
Other assets$1,996,104$1,987,951
Total liabilities$10,561,964$15,664,482$14,960,532
Accounts payable and accrued expenses$1,350,465$1,537,585
Grants payable$13,264,240$12,360,044
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$1,049,777$1,062,903
Total net assets or fund balances$664,722,257$679,594,991$770,043,035
Unrestricted net assets$649,770,760$733,764,312
Temporarily restricted net assets$9,063,942$15,366,818
Permanently restricted net assets$20,760,289$20,911,905
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$149,001,202
Subtotal Support$228,613,494
Gifts, grants, contributions, and membership fees received$228,613,494
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$79,612,292
Total Support$290,764,035
Public Support$228,613,494
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$61,495,787
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$654,754
Gross receipts from related activities, etc.$15,652,978
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$89,072,781$28,940,695$27,819,343$50,502,527$53,372,169$66,044,340$85,405,553$117,805,365
Contributions, gifts, grants, and similar amounts received$21,975,591$22,896,336$32,789,176$22,165,584$17,884,888$25,073,815$37,619,243$48,608,223
Contributions to donor advised funds$17,530,089$30,756,185
Direct public support$21,066,746$22,783,258$32,611,458$21,953,611$17,818,199$24,910,447$19,325,512$17,119,738
Indirect public support$0$0$0$0$0$0$612,892$606,820
Government contributions (grants)$908,845$113,078$177,718$211,973$66,689$163,368$150,750$125,480
Program service revenue including government fees and contracts$1,298,066$1,207,232$1,953,571$2,315,444$2,381,192$2,410,115$2,527,288$2,388,485
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$583,886$452,780$256,892$249,650$165,954$353,317$537,180$614,508
Dividends and interest from securities$16,576,267$16,585,284$14,537,443$12,925,077$13,541,246$14,722,610$17,406,372$17,227,503
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$148,159$146,589$164,864$151,135$110,184$108,663$210,027$72,561
Gain or (loss) from sales of assets other than inventory$47,390,290$-12,377,613$-22,294,783$12,438,429$19,028,814$23,285,304$27,015,197$48,894,085
Gross amount from sales of assets other than inventory$47,390,290$270,333,873$341,458,064$318,841,092$369,718,240$444,571,959$368,690,237$449,224,677
Less: cost or other basis and sales expenses$0$282,711,486$363,752,847$306,402,663$350,689,426$421,286,655$341,675,040$400,330,592
Net income or (loss) from special events and activities$1,100,522$30,087$412,180$254,903$259,481$90,516$90,246$0
Gross revenue$1,118,657$30,108$412,203$269,308$270,253$111,188$112,787$0
Less: direct expenses other than fundraising expenses$18,135$21$23$14,405$10,772$20,672$22,541$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$2,305$410$0$0$0
Total expenses$33,776,482$44,800,730$38,082,063$45,204,150$39,065,856$45,656,438$51,412,493$53,832,329
Program services$31,060,835$41,542,879$35,331,606$41,845,938$36,351,274$42,952,990$48,532,787$50,207,469
Management and general$1,964,308$2,417,249$1,635,515$2,012,950$1,406,725$1,459,085$1,639,244$2,196,546
Fundraising$751,339$840,602$1,073,177$1,301,960$1,269,106$1,209,265$1,205,292$1,428,314
Payments to affiliates$0$0$41,765$43,302$38,751$35,098$35,170$0
Net assets or fund balances at end of year$541,291,291$508,117,241$456,073,898$541,625,363$581,851,649$603,290,927$672,362,334$729,465,483
Excess or (deficit) for the year$55,296,299$-15,860,035$-10,262,720$5,298,377$14,306,313$20,387,902$33,993,060$63,973,036
Net assets or fund balances at beginning of year$528,261,771$541,291,291$508,117,241$456,073,898$541,625,363$581,851,649$603,290,927$672,362,334
Other changes in net assets or fund balances$-42,266,779$-17,314,015$-41,780,623$80,253,088$25,919,973$1,051,376$35,078,347$-6,869,887
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$53,832,329$50,207,469$2,196,546$1,428,314
Grants paid from donor advised funds$27,753,560
Other grants and allocations$13,348,758
Specific assistance to individuals$995,956
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,183,104$367,307$674,887$140,910
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$3,408,132$2,300,972$659,024$448,136
Pension plan contributions not included above$632,619$522,238$61,673$48,708
Employee benefits not included above$415,037$271,067$86,271$57,699
Payroll taxes$326,409$191,570$90,718$44,121
Professional fundraising fees$386,829$0$0$386,829
Accounting fees$95,772$23,892$71,880$0
Legal fees$109,823$36,220$37,362$36,241
Supplies$65,918$18,994$41,129$5,795
Telephone$21,803$5,531$13,627$2,645
Postage and shipping$33,464$13,128$7,404$12,932
Occupancy$379,480$81,687$249,385$48,408
Equipment rental and maintenance$131,795$32,791$82,910$16,094
Printing and publications$444,493$179,485$160,107$104,901
Travel$24,857$14,803$3,510$6,544
Conferences, conventions, and meetings$204,571$78,978$87,074$38,519
Interest$0$0$0$0
Depreciation, depletion, etc.$145,336$29,297$97,176$18,863
Other expenses not covered above$3,724,613$3,941,235$-227,591$10,969
Balance Sheets
20002001200220032004200520062007
Total assets$550,667,790$525,942,369$472,657,883$556,926,333$594,648,660$617,910,510$688,940,948$762,374,397
Cash - non-interest-bearing$1,335,195$3,132,153$97,148$1,266,314$943,473$1,721,448$1,164,621$2,547,775
Savings and temporary cash investments$35,670,301$40,519,092$43,048,428$48,279,314$32,214,766$32,018,343$39,963,993$56,030,194
Accounts receivable less allowance for doubtful accounts$464,699$162,295$468,104$572,775$397,281$522,174$534,381$460,182
Pledges receivable less allowance for doubtful accounts$970,013$692,500$192,500$1,067,962$312,917$654,583$569,759$13,535,553
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$1,210$726$0$0$0$3,584,520$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$3,834,252$3,727,002$3,400,230$4,682,698$6,186,815$0$2,757,769$2,569,817
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$827$4,375$0$0$0$549,717,456$0$141,485
Investments - publicly-traded securities$587,207,522$598,818,037
Investments - other securities$504,119,804$474,028,917$421,542,984$483,734,468$529,261,041$0$53,013,188$69,097,698
Investments - land, buildings, and equipment less accumulated depreciation$18,114$0$0$1,600,000$1,600,000$0$0$785,600
Investments - other$1,113,253$1,259,842$1,424,706$13,030,375$21,226,804$27,735,589$1,926,707$1,531,152
Land, buildings, and equipment less accumulated depreciation$405,157$328,816$759,036$1,023,061$828,635$660,772$494,496$413,930
Other assets, including program-related investments$2,734,965$2,086,651$1,724,747$1,669,366$1,676,928$1,295,625$1,308,512$16,442,974
Total liabilities$9,376,499$17,825,128$16,583,985$15,300,970$12,797,011$14,619,583$16,578,614$32,908,914
Accounts payable and accrued expenses$410,820$573,189$1,019,872$665,810$701,976$744,144$848,465$1,160,820
Grants payable$8,341,505$16,554,413$14,774,109$13,544,241$11,095,795$12,842,228$14,717,662$15,755,148
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$14,929,789
Other liabilities$624,174$697,526$790,004$1,090,919$999,240$1,033,211$1,012,487$1,063,157
Total liabilities and net assets/fund balances$550,667,790$525,942,369$472,657,883$556,926,333$594,648,660$617,910,510$688,940,948$762,374,397
Total net assets or fund balances$541,291,291$508,117,241$456,073,898$541,625,363$581,851,649$603,290,927$672,362,334$729,465,483
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$89,072,781$28,940,695$27,819,343$50,502,527$53,372,169$66,044,340$85,405,553$117,805,365
Total revenue, gains, and other support per audited financial statements$49,150,480$13,552,611$-18,514,546$139,872,692$87,280,711$107,224,741$135,442,967$130,055,713
Other expenses$-37,926,275$-13,588,090$-44,947,297$90,875,680$35,400,226$42,768,408$51,751,404$26,399,076
Net unrealized gains on investments$0$-17,272,193$-41,812,564$80,126,597$25,919,973$1,051,376$35,016,650$-13,648,195
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$-37,926,275$3,684,103$-3,134,733$10,749,083$9,480,253$41,717,032$16,734,754$40,047,271
Other revenue$1,996,026$1,799,994$1,386,592$1,505,515$1,491,684$1,588,007$1,713,990$14,148,728
Investment expenses$1,830,496$0$0$0$1,491,684$1,588,007$1,713,990$1,843,060
Other$165,530$1,799,994$1,386,592$1,505,515$0$0$0$12,305,668
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$33,776,482$44,800,730$38,082,063$45,204,150$39,065,856$45,656,438$51,412,493$53,832,329
Total expenses and losses per audited financial statements$33,913,168$43,515,151$36,381,973$46,556,830$40,258,676$46,485,532$57,649,755$66,466,820
Other revenue$1,967,182$3,088,571$2,569,175$5,957,453$5,735,777$7,705,146$13,215,778$19,723,041
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$1,967,182$3,088,571$2,569,175$5,957,453$5,735,777$7,705,146$13,215,778$19,723,041
Other expenses$1,830,496$4,374,150$4,269,265$4,604,773$4,542,957$6,876,052$6,978,516$7,088,550
Investment expenses$1,830,496$0$0$0$1,491,684$1,588,007$1,713,990$1,843,060
Other$0$4,374,150$4,269,265$4,604,773$3,051,273$5,288,045$5,264,526$5,245,490
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
35$253,670$40,398$0
35$168,689$45,236$0
35$162,077$33,509$0
35$117,345$27,007$0
35$138,788$34,521$0
35$124,933$36,861$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings26
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?No
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?Yes
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, 200661
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$137,643$66,673,503$2,385,996
Program service revenue
Program service revenue 1000000$000$0$2,052,612
Program service revenue 2000000$000$0$333,384
Program service revenue 3000000$0Royalty income excluded by section 512(b)(2)$2,489$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$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)$614,508$0
Dividends and interest from securitiesUnrelated debt-financed activities other than rental of real estate$137,643Dividends, 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)$17,089,860$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 income000000$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)$72,561$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))$48,894,085$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
41176536467%$41,941,839$488,572,112
0%$0$0
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
$115,429$25,527$0
$108,181$24,682$0
$99,846$30,041$0
$95,038$29,805$0
$90,707$12,226$0
Total number of other employees paid over $50,00024
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?Yes
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$478
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$318,236,201
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 isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$65,107,576$41,659,160$42,281,619$50,505,357$37,002,616$35,132,010$42,852,620$58,404,465
Gifts, grants, and contributions received$49,466,460$22,281,885$23,173,849$33,289,176$21,290,122$18,639,933$24,732,149$37,704,067
Membership fees received$0$0$0$0$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$1,391,144$1,110,374$1,509,636$2,059,942$2,480,081$2,826,939$2,396,410$2,627,868
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$14,249,972$17,166,379$17,568,047$15,156,239$13,230,108$13,463,861$15,457,230$17,930,665
Net income from unrelated business activities not included above$0$0$0$0$0$200,867$266,831$141,865
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$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$0$0$0$0
Other income$0$1,100,522$30,087$0$2,305$410$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$5,867,611$176,028$410,733
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$410,733$0$410,733
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$176,028$176,028$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$48,158
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$44,713
Charitable contributions$810
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$1,635
Unrelated business taxable income$361,575
Unrelated business taxable income before net operating loss deduction$362,575
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$362,575
Specific deduction$1,000
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Number of organizations performing similar types of work
Alabama2
Arizona2
California24
Colorado4
Connecticut8
District of Columbia1
Delaware1
Florida14
Georgia2
Hawaii1
Iowa5
Idaho1
Illinois10
Indiana17
Kansas4
Kentucky2
Louisiana2
Massachusetts5
Maryland2
Maine1
Michigan17
Minnesota9
Missouri5
Mississippi3
Montana2
North Carolina9
North Dakota1
Nebraska2
New Hampshire1
New Jersey5
New York14
Ohio20
Oklahoma2
Oregon1
Pennsylvania14
South Carolina6
South Dakota3
Tennessee4
Texas28
Utah1
Virginia7
Vermont1
Washington5
Wisconsin9
West Virginia2
International1
Total280

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