Flying Horse Foundation Inc in Scotch Plains, New Jersey (NJ)
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
| Flying Horse Foundation Inc | |
| Employer Identification Number (EIN) | 223337841 |
| Name of Organization | Flying Horse Foundation Inc |
| In Care of Name | Marion Group |
| Address | PO BOX 21, Scotch Plains, NJ 07076-0021 |
| Activities | Scholarships (other) |
| Subsection | Charitable Organization |
| Ruling Date | 04/1995 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2010 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) (990-PF required) |
| Asset Amount | $1,572,928 |
| Amount of Income | $250,761 |
| Form 990 Revenue Amount | $67,773 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2010: $250,761 (it was $67,773 in 2011)
| Flying Horse Foundation Inc: | $250,761 |
| Other organizations performing similar types of work: | $50,088 |
Assets in 2010: $1,572,928 (it was $1,549,925 in 2011)
| Flying Horse Foundation Inc: | $1,572,928 |
| Other organizations performing similar types of work: | $160,480 |
Expenses in 2011: $90,776
| This organization: | $90,776 |
| Other organizations performing similar types of work: | $41,701 |
Income to expenses ratio in 2011: 2.8
| Flying Horse Foundation Inc: | 2.8 |
| Other organizations performing similar types of work: | 1.3 |
Grants share in income in 2011: 5.2%
| This organization: | 5.2% |
| Other organizations performing similar types of work: | 22.2% |
Revenue for 2011
Expenses for 2011
Assets for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $67,773 | $63,978 | $0 | |
| Contributions, gifts, grants, etc., received | $3,500 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $41,524 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $81 | |||
| Other | $22,668 | |||
| Total expenses and disbursements | $90,776 | $18,348 | $0 | $72,428 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $21,276 | $18,348 | $2,928 | |
| Contributions, gifts, grants paid | $69,500 | |||
| Excess of revenue over expenses and disbursements | $-23,003 | |||
| Net investment income | $45,630 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,549,925 | $1,547,851 |
| Cash - non-interest-bearing | $11,874 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,353,344 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $184,707 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,549,925 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $22,668 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $913 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $913 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| 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 2011 or the taxable year beginning in 2011? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| 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? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| 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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | 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? | Yes |
| 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 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $1,629,597 |
| Net value of noncharitable-use assets | $1,605,160 |
| Minimum investment return | $80,258 |
| Distributable Amount (for 2011) | |
| Distributable amount | $79,345 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $79,345 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $75,440 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | 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 | The@charles Mitchell Scholarship Trust, Pershan Richard H Et Al Ttee | 10 S Dearborn Il1-0117, Chicago, IL 60603-2300 | IL | 1997-07 | $2,794,018 |
| 2 | Wisconsin Rural Opportunities Foundation Inc | 3310 Latham Dr, Madison, WI 53713-4634 | WI | 1996-09 | $2,025,315 |
| 3 | The Leadership Investment | 3900 E Mexico Ave Ste 600, Denver, CO 80210-3943 | CO | 1991-05 | $1,186,322 |
| 4 | W R And Floy A Sauey Family Foundation Inc | 715 Lynn Ave, Baraboo, WI 53913-2744 | WI | 1998-09 | $738,726 |
| 5 | Yoder Brothers Memorial Scholarship Fund | 7550 Trails End, Chagrin Falls, OH 44023-1426 | OH | 1997-06 | $351,924 |
| 6 | Brazosport Rotary Club Charitable Foundation Inc | P O Box 71, Lake Jackson, TX 77566 | TX | 1994-02 | $338,792 |
| 7 | The Lyden Foundation Inc | PO BOX 700, Winter Park, FL 32790-0700 | FL | 1997-12 | $331,009 |
| 8 | Susan Fund Inc | 8 Hilly Field Ln, Westport, CT 06880-2916 | CT | 1992-07 | $258,599 |
| 9 | Flying Horse Foundation Inc | PO BOX 21, Scotch Plains, NJ 07076-0021 | NJ | 1995-04 | $250,761 |
| 10 | Trustees Of Chester Academy Stratevest Group N A | PO BOX 1280, Brattleboro, VT 05302-1280 | VT | 1995-06 | $201,493 |
| 11 | University Of Aberdeen Foundation Inc | 57 W 57th St 3rd And 4th Flr, New York, NY 10019 | NY | 1996-07 | $182,160 |
| 12 | Thomas W And Lolita Gayle Scholarship Fund | PO BOX 40200, Jacksonville, FL 32203-0200 | FL | 1998-01 | $181,272 |
| 13 | The Dubose Scholarship Fund | PO BOX 1749, Chattanooga, TN 37401-1749 | TN | 1998-09 | $82,011 |
| 14 | Rapt Foundation Inc A Non Profit Corporation | 43 Clayton Ct, Woodbridge, NJ 07095-1934 | NJ | 1995-08 | $59,881 |
| 15 | Glenpool Public Schools Foundation For Academic Excellence Inc | PO BOX 1149, Glenpool, OK 74033 | OK | 1995-06 | $48,114 |
| 16 | Virginia National Guard Foundation | Bldg 316 Fort Pickett, Blackstone, VA 23824 | VA | 1995-05 | $47,598 |
| 17 | Bradley J Taylor Scholar Athlete Memorial Scholarship Fund | 3 Ottawa Trl, Somerville, NJ 08876-5467 | NJ | 1996-09 | $941 |
| 18 | Berkeley Township Education Association Philanthropic Fund Inc | 356 Atlantic City Blvd, Bayville, NJ 08721 | NJ | 1996-05 | $0 |
| 19 | Joseph A Gagliardi Memorial Fund Inc, Co Barbara Gagliardi | 26 Concord Cir, Howell, NJ 07731-1559 | NJ | 1995-01 | $0 |
| 20 | New Jersey State Law Enforcement Officers Scholarship Foundation In | 652 Rt 22, Hillside, NJ 07205-1943 | NJ | 1995-09 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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