Steam Fund in Nashua, New Hampshire (NH)

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Steam Fund
Employer Identification Number (EIN)020268011
Name of OrganizationSteam Fund
In Care of NameRodney J Conard
Address74 Northeastern Blvd Ste 22a, Nashua, NH 03062-3194
ActivitiesPrivate school, Fair, Industry trade shows
SubsectionEducational Organization
Ruling Date10/1965
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period05/2011
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$6,470,085
Amount of Income$21,720,332
Form 990 Revenue Amount$21,720,332
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2011: $21,720,332
Steam Fund: 

 $21,720,332
Other organizations performing similar types of work: 

 $66,253,053

Assets in 2011: $6,470,085
Steam Fund: 

 $6,470,085
Other organizations performing similar types of work: 

 $118,174,264

Expenses in 2002: $21,867,804
Steam Fund: 

 $21,867,804
Other organizations performing similar types of work: 

 $52,716,293

Income to expenses ratio in 2002: 1.0
Steam Fund: 

 1.0
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2002: 90.2%
This organization: 

 90.2%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2002: 340
Steam Fund: 

 340
Other organizations performing similar types of work: 

 1,113

Employees paid over $50,000 in 2002: 8.8%
Steam Fund: 

 8.8%
Other organizations performing similar types of work: 

 15.6%

Grants share in income in 2002: 4.2%
Steam Fund: 

 4.2%
Other organizations performing similar types of work: 

 4.4%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$18,974,940$19,404,692$21,720,332
Contributions, gifts, grants, and similar amounts received$2,579,410$754,810$919,101
Contributions to donor advised funds
Direct public support$2,336,203$640,907$805,271
Indirect public support$0$0$0
Government contributions (grants)$243,207$113,903$113,830
Program service revenue including government fees and contracts$15,868,396$17,936,923$20,299,454
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$131,347$137,536$101,070
Dividends and interest from securities$0$0$0
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$44,000$37,909$-26,565
Gross amount from sales of assets other than inventory$44,000$470,888$524,442
Less: cost or other basis and sales expenses$0$432,979$551,007
Net income or (loss) from special events and activities$119,561$116,999$130,656
Gross revenue$180,935$158,768$173,757
Less: direct expenses other than fundraising expenses$61,374$41,769$43,101
Gross profit or (loss) from sales of inventory$28,170$42,903$49,352
Gross sales of inventory, less returns and allowances$61,770$88,500$104,262
Less: cost of goods sold$33,600$45,597$54,910
Other revenue$204,056$377,612$247,264
Total expenses$18,757,433$20,360,097$21,867,804
Program services$16,565,365$17,738,738$19,724,278
Management and general$2,011,315$2,365,256$1,922,244
Fundraising$180,753$256,103$221,282
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$6,626,837$6,518,195$6,470,085
Excess or (deficit) for the year$217,507$-955,405$-147,472
Net assets or fund balances at beginning of year$6,412,578$6,626,837$6,518,195
Other changes in net assets or fund balances$-3,248$846,763$99,362
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$21,867,804$19,724,278$1,922,244$221,282
Grants paid from donor advised funds
Other grants and allocations$3,761,450
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$342,850$232,850$110,000$0
Compensation of former officers, directors, key employees, etc.
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)
Salaries and wages of employees not included above$7,019,680$6,301,603$586,267$131,810
Pension plan contributions not included above$190,985$185,485$5,500$0
Employee benefits not included above$715,254$527,907$167,844$19,503
Payroll taxes$524,399$467,342$47,431$9,626
Professional fundraising fees$0$0$0$0
Accounting fees$42,162$0$42,162$0
Legal fees$4,936$0$4,936$0
Supplies$326,322$263,413$59,840$3,069
Telephone$82,867$81,506$340$1,021
Postage and shipping$143,631$105,412$28,049$10,170
Occupancy$0$0$0$0
Equipment rental and maintenance$3,287,470$3,113,868$173,602$0
Printing and publications$331,623$258,255$46,338$27,030
Travel$116,102$87,353$24,935$3,814
Conferences, conventions, and meetings$300$0$75$225
Interest$1,292,813$1,179,896$112,917$0
Depreciation, depletion, etc.$1,343,382$1,211,340$132,042$0
Other expenses not covered above$2,341,578$1,946,598$379,966$15,014
Balance Sheets
200020012002
Total assets$31,654,389$32,137,011$33,549,252
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$473,540$415,996$342,474
Accounts receivable less allowance for doubtful accounts$687,471$599,170$436,600
Pledges receivable less allowance for doubtful accounts$248,310$230,341$156,993
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$1,038,140$988,197$1,050,582
Inventories for sale or use$107,092$115,452$121,806
Prepaid expenses and deferred charges$873,814$941,663$974,942
Investments - publicly-traded securities
Investments - other securities$1,585,629$1,252,239$1,290,407
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$21,155,692$25,588,249$27,128,445
Other assets, including program-related investments$5,484,701$2,005,704$2,047,003
Total liabilities$25,027,552$25,618,816$27,079,167
Accounts payable and accrued expenses$2,141,953$2,762,668$2,505,930
Grants payable$271,709$276,511$269,109
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$16,850,000$16,850,000$16,850,000
Mortgages and other notes payable$4,249,215$4,428,578$5,970,273
Other liabilities$1,514,675$1,301,059$1,483,855
Total liabilities and net assets/fund balances$31,654,389$32,137,011$33,549,252
Total net assets or fund balances$6,626,837$6,518,195$6,470,085
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$18,974,940$19,404,692$21,720,332
Total revenue, gains, and other support per audited financial statements$16,288,630$16,130,499$18,156,255
Other expenses$92,086$61,381$197,373
Net unrealized gains on investments$0$-25,985$99,362
Donated services and use of facilities$-3,248$0$0
Recoveries of prior year grants$0$0$0
Other$95,334$87,366$98,011
Other revenue$2,778,396$3,335,574$3,761,450
Investment expenses$0$0$0
Other$2,778,396$3,335,574$3,761,450
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$18,757,433$20,360,097$21,867,804
Total expenses and losses per audited financial statements$16,074,371$17,111,889$18,204,365
Other revenue$95,334$87,366$98,011
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$95,334$87,366$98,011
Other expenses$2,778,396$3,335,574$3,761,450
Investment expenses$0$0$0
Other$2,778,396$3,335,574$3,761,450
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?
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?
Does the organization have a written conflict of interest policy?
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006340
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$84,531$74,505$20,642,195
Program service revenue
Program service revenue 1000000$000$0$16,977,988
Program service revenue 2000000$000$0$3,115,987
Program service revenue 3000000$000$0$151,879
Program service revenue 4000000$000$0$53,600
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)$101,070$0
Dividends and interest from securities000000$000$0$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$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-26,565$0
Net income or (loss) from special events000000$000$0$130,656
Gross profit or (loss) from sales of inventory000000$000$0$49,352
Other revenueOther schools and instruction (other than elementary and secondary schools or colleges and universities, which should select a code to describe their unrelated activities)$84,53100$0$162,733
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$88,400$6,120$0
$82,000$3,462$0
$75,000$6,073$0
$72,393$6,064$0
$71,415$8,044$0
Total number of other employees paid over $50,00025
Statements About Activities (for 2002)
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?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
199920002001
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
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$556,471$15,901$39,746
Gross receipts or sales less returns and allowances$67,925$0$0
Cost of goods sold$416,481$0$0
Gross profit$262,771$0$26,277
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$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$29,370$15,901$13,469
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$176,994
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$176,994
Unrelated business taxable income$-137,248
Unrelated business taxable income before net operating loss deduction$-137,248
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-137,248
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Franklin W Olin College Of Engineering IncOlin Way Mh314, Needham, MA 02492MA1998-09$1,397,497,296
2Swarthmore College500 College Ave, Swarthmore, PA 19081-1306PA1950-03$1,340,708,741
3Wellesley College106 Central Street, Wellesley, MA 02481-8203MA1946-04$761,881,340
4Trustees Of Grinnell College733 Broad St, Grinnell, IA 50112-2227IA1953-01$748,764,166
5Pomona College150 E Eighth St Pendleton Bldg 108, Claremont, CA 91711CA1954-12$724,971,580
6Amherst College TrusteesPO BOX 5000, Amherst, MA 01002-5000MA1933-08$694,033,920
7Vassar College124 Raymond Ave, Poughkeepsie, NY 12604-0001NY1938-04$609,836,912
8Bowdoin College3530 College Sta, Brunswick, ME 04011-8426ME1935-06$577,125,000
9Saint Anselm College100 Saint Anselm Dr, Manchester, NH 03102-1308NH1946-03$108,592,907
10Franklin Pierce University40 University Dr, Rindge, NH 03461-5046NH1963-07$74,553,441
11Colby-Sawyer College541 Main St, New London, NH 03257-7818NH1941-06$74,350,009
12New England College98 Bridge St, Henniker, NH 03242-3292NH1949-06$46,081,263
13Steam Fund74 Northeastern Blvd Ste 22a, Nashua, NH 03062-3194NH1965-10$21,720,332
14Talladega College627 Battle St W, Talladega, AL 35160-2354AL1945-05$18,799,314
15New Hampshire Institute Of Art148 Concord St, Manchester, NH 03104-4826NH1939-10$18,426,158
16Thomas More College Of Liberal Arts Incorporated6 Manchester St, Merrimack, NH 03054-4855NH1979-10$3,541,297
17Breakthrough Bible Institute College Inc4305 St Barnabas Rd 402 4305 St Barnabas Rd, Temple Hill, MD 20748MD2007-03$408,000
18Campbell Bible CollegePO BOX 12567, Charleston, SC 29422-2567SC2007-07$8,700
19Martin College11469 Olive Blvd Pmb 116, St Louis, MO 63141-7108MO1999-05$0
20Williams Baptist College60 W Fulbright Ave, Walnut Ridge, AR 72476-9000AR2002-06$0
Number of organizations performing similar types of work
Alabama8
Arkansas8
California16
Connecticut5
District of Columbia2
Florida11
Georgia13
Iowa15
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total440

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