Edson & Margaret Larson Foundation in Fargo, North Dakota (ND)
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
| Edson & Margaret Larson Foundation | |
| Employer Identification Number (EIN) | 271507358 |
| Name of Organization | Edson & Margaret Larson Foundation |
| In Care of Name | Wells Fargo Bank Nd Na |
| Address | 406 Main Ave, Fargo, ND 58126-0001 |
| Subsection | Charitable Organization |
| Ruling Date | 04/2011 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $5,000,000 to $9,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $14,940,005 |
| Amount of Income | $7,972,665 |
| Form 990 Revenue Amount | $8,441,849 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations |
Non-representatives - add comments:
Amount of income in 2013: $7,972,665 (it was $6,487,202 in 2012)
| This organization: | $7,972,665 |
| Other organizations performing similar types of work: | $103,138 |
Assets in 2013: $14,940,005 (it was $15,129,477 in 2012)
| This organization: | $14,940,005 |
| Other organizations performing similar types of work: | $338,623 |
Expenses in 2012: $756,433
| This organization: | $756,433 |
| Other organizations performing similar types of work: | $46,867 |
Income to expenses ratio in 2012: 10.5
| This organization: | 10.5 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 0.0%
| Edson & Margaret Larson 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 | $596,351 | $593,782 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $408,467 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $-42,896 | |||
| Other | $230,780 | |||
| Total expenses and disbursements | $756,433 | $151,317 | $0 | $600,395 |
| Compensation of officers, directors, trustees, etc. | $2,425 | |||
| Total operating and administrative expenses | $168,433 | $151,317 | $12,395 | |
| Contributions, gifts, grants paid | $588,000 | |||
| Excess of revenue over expenses and disbursements | $-160,082 | |||
| Net investment income | $442,465 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $15,129,477 | $16,062,665 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $835,945 | |
| Investments-corporate stock | $5,357,785 | |
| Investments-corporate bonds | $4,848,236 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $3,889,874 | |
| Other | $197,637 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $15,129,477 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $230,780 |
| 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 | $4,425 |
| Total credits and payments | $99,350 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $99,350 |
| 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 | $94,925 |
| Amount to be credited to 2013 estimated tax | $94,925 |
| 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? | Yes |
| 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 | $15,943,751 |
| Net value of noncharitable-use assets | $15,704,600 |
| Minimum investment return | $785,230 |
| Distributable Amount (for 2012) | |
| Distributable amount | $780,805 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $780,805 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $567,735 |
| 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 | Sean N Parker Foundation | 314 Lytton Avenue No 200, Palo Alto, CA 94301-1430 | CA | 2011-08 | $432,036,012 |
| 2 | Schmidt Science And Philanthropic Foundation | 555 Bryant St Num 374, Palo Alto, CA 94301-1704 | CA | 2014-09 | $361,983,271 |
| 3 | W M Keck Foundation | 550 South Hope Street, Los Angeles, CA 90071-2627 | CA | 1959-04 | $344,489,762 |
| 4 | Steven A And Alexandra M Cohen Foundation Inc | PO BOX 142, Greenwich, CT 06836-0142 | CT | 2001-10 | $276,350,188 |
| 5 | The Susan Thompson Buffett Foundation | 3555 Farnam St Ste 222, Omaha, NE 68131-3302 | NE | 1964-12 | $257,356,070 |
| 6 | The Barry Foundation | 3801 20th St N, Fargo, ND 58102-0909 | ND | 2006-11 | $15,001,071 |
| 7 | Edson & Margaret Larson Foundation | 406 Main Ave, Fargo, ND 58126-0001 | ND | 2011-04 | $7,972,665 |
| 8 | Wanzek Family Foundation | 505 Broadway N Ste 305, Fargo, ND 58102-4487 | ND | 2009-12 | $5,063,303 |
| 9 | Ronald And Duska Lacount Family Foundation | PO BOX 1872, Minot, ND 58702-1872 | ND | 2011-11 | $2,369,771 |
| 10 | William Langer And Susan Flickinger Gokey Foundation Inc | PO BOX 639, Minot, ND 58702-0639 | ND | 2012-02 | $1,105,149 |
| 11 | Ekberg Johnson Family Foundation | 1733 Montego Dr, Bismarck, ND 58503-0856 | ND | 2007-12 | $1,049,129 |
| 12 | Matt And Joann Butler Foundation | 28 Briarwood Pl, Fargo, ND 58104-7308 | ND | 2003-10 | $1,000,039 |
| 13 | Jorgenson Family Foundation | PO BOX 727, Kenmare, ND 58746-0727 | ND | 2012-01 | $325,228 |
| 14 | Vern And Ruth Berge Scholarship Foundation | 51 Broadway N Ste 402, Fargo, ND 58102-4970 | ND | 2014-10 | $279,096 |
| 15 | Botsford Family Foundation | 707 Reeves Dr, Grand Forks, ND 58201-4919 | ND | 2013-02 | $272,104 |
| 16 | Verhoek Family Foundation | PO BOX 2236, Bismarck, ND 58502-2236 | ND | 2007-05 | $110,000 |
| 17 | Brandt Family Foundation | PO BOX 230, Fargo, ND 58107-0230 | ND | 2007-08 | $10,000 |
| 18 | Hilda Long Animal Protection Tr | 424 Main St, Bottineau, ND 58318-1230 | ND | 2005-09 | $1,984 |
| 19 | Fundraising For Ransom Area And Community, Frac | 316 Main St, Lisbon, ND 58054-4140 | ND | 2014-09 | $0 |
| 20 | Williams Cooperative Trust Inc | Po Box 1346, Williston, ND 58802-1346 | ND | 2002-04 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 20,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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