Dale Kutnick And Laura Gordon Kutnick Foundation Inc in Pennington, New Jersey (NJ)

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Dale Kutnick And Laura Gordon Kutnick Foundation Inc
Employer Identification Number (EIN)061469212
Name of OrganizationDale Kutnick And Laura Gordon Kutnick Foundation Inc
In Care of NameMerril Lynch Trust Co
AddressPO BOX 1501, Pennington, NJ 08534-0671
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date07/1997
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$5,316,852
Amount of Income$2,675,853
Form 990 Revenue Amount$880,206
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations:


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Amount of income in 2014: $2,675,853 (it was $3,114,941 in 2013)
Dale Kutnick And Laura Gordon Kutnick Foundation Inc: 

 $2,675,853
Other organizations performing similar types of work: 

 $168,140

Assets in 2014: $5,316,852 (it was $4,452,094 in 2013)
Dale Kutnick And Laura Gordon Kutnick Foundation Inc: 

 $5,316,852
Other organizations performing similar types of work: 

 $443,614

Expenses in 2013: $239,284
Dale Kutnick And Laura Gordon Kutnick Foundation Inc: 

 $239,284
Other organizations performing similar types of work: 

 $57,696

Income to expenses ratio in 2013: 11.2
This organization: 

 11.2
Other organizations performing similar types of work: 

 3.0

Grants share in income in 2013: 53.4%
Dale Kutnick And Laura Gordon Kutnick Foundation Inc: 

 53.4%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$1,951,065$912,208$0
Contributions, gifts, grants, etc., received$1,040,941
Interest on savings and temporary cash investments$0
Dividends and interest from securities$110,573
Gross rents$0
Gross sales price for all assets$1,968,463
Gross profit from sales of goods$0
Other income$-5,036
Other$804,587
Total expenses and disbursements$239,284$23,231$0$210,659
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$2,500
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$45,534$23,231$16,909
Contributions, gifts, grants paid$193,750
Excess of revenue over expenses and disbursements$1,711,781
Net investment income$888,977
Adjusted net income$0
Balance Sheets
20122013
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$3,484,310$3,714,579$4,452,094$4,962,961
Cash - non-interest-bearing$2,512$1,952
Investments-U.S. and state government obligations$239,455$114,023
Investments-corporate stock$1,991,015$2,056,878
Investments-corporate bonds$275,855$394,255
Investments-mortgage loans$0$0
Investments-other$658,729$659,427
Other assets$0
Total liabilities$1$0
Total liabilities and net assets/fund balances$3,484,310$4,452,094
Capital Gains and Losses for Tax on Investment Income
20122013
Capital gain net income$377,895$804,587
Net capital loss$0$0
Excise Tax Based on Investment Income
20122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$9,082$8,890
Total credits and payments$12,770$9,082
Current year estimated tax payments and previous year's overpayment credited to current year$12,770$9,082
Exempt foreign organizations-tax withheld at source$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0
Backup withholding erroneously withheld$0$0
Any penalty for underpayment of estimated tax$0$0
Tax due$0
Overpayment$192
Amount to be credited to next year's estimated tax$3,688$192
Statements Regarding Activities
20122013
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?NoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?No
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?No
Has the foundation filed a tax return on Form 990-T for this year?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?Yes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNo
Did any persons become substantial contributors during the tax year?No
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?No
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?Yes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041No
Statements Regarding Activities for Which Form 4720 May Be Required
20122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?No
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?No
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?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))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
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)?NoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?No
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
Minimum Investment Return
20122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$3,427,689$3,992,552
Net value of noncharitable-use assets$3,932,664
Minimum investment return$168,814$196,633
Distributable Amount
20122013
Distributable amount$159,732$187,743
Undistributed Income
20122013
Distributable amount for this year$159,732$187,743
Undistributed income for this year. This amount must be distributed in the next year$119,754$96,838
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$110,573$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Eisenreich Family Foundation Tr, Eisenreich Avery Ttee35 Journal Square, Jersey City, NJ 07306-4007NJ1997-07$19,339,556
2Dale Kutnick And Laura Gordon Kutnick Foundation IncPO BOX 1501, Pennington, NJ 08534-0671NJ1997-07$2,675,853
3Shipping Venture Corporation600 Atlantic Avenue, Boston, MA 02210-2203MA1996-05$2,183,439
4Virginia Cretella Mars Foundation140 Broadway, New York, NY 10005-1108NY1995-05$2,060,101
5Still Point Fund150 Broadway, New York, NY 10038-4381NY1997-07$1,189,725
6Stanley And Nancy Grossman Family Foundation600 Third Avenue, New York, NY 10016-1901NY1995-10$445,107
7Ruth And Sheldon Goldstein Foundation, Goldstein Ruth Et Al Ttee1035 19th St Apt 2, Santa Monica, CA 90403-4498CA1995-05$396,725
8The Philip J Hahn Foundation IncC/O J Rosenzweig 560 Fifth Avenue, New York, NY 10036NY1997-07$311,083
9Trowbridge Foundation, Lowell William A TteePO BOX 961019, Boston, MA 02196-1019MA1997-07$279,339
10Weitz Family Charitable Foundation Inc700 Broadway 3rd Floor, New York, NY 10003-9536NY1997-06$227,908
11Kwitman Family Foundation IncC/O H Kwitman 1015 Adams Street, Hoboken, NJ 07030NJ1997-07$183,259
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14The Irwin Foundation50 Crocker Blvd Ste 100, Mount Clemens, MI 48043-2580MI1996-08$107,320
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17Lissak Foundation, Saffi Joseph A Dir465 South St, Morristown, NJ 07960-6442NJ1997-07$1
18Campies Crusaders Of Vineland Inc1235 Mayfair Ct, Vineland, NJ 08360-2482NJ1997-05$0
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Number of organizations performing similar types of work
Arizona1
California6
Connecticut5
Florida8
Illinois4
Indiana1
Kentucky1
Massachusetts17
Maine2
Michigan1
Minnesota2
Missouri1
North Carolina2
Nebraska1
New Hampshire3
New Jersey9
New Mexico1
New York47
Pennsylvania2
Rhode Island8
Tennessee1
Texas1
Total124

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