Tortie Foundation in Reno, Nevada (NV)
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
| Tortie Foundation | |
| Employer Identification Number (EIN) | 010562781 |
| Name of Organization | Tortie Foundation |
| In Care of Name | Stephen F Witort |
| Address | 6554 Champetre Ct, Reno, NV 89511 |
| Subsection | Charitable Organization |
| Ruling Date | 05/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 09/2013 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $43,501 |
| Amount of Income | $94,255 |
| Form 990 Revenue Amount | $3,737 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2013: $94,255 (it was $2,772 in 2012)
| Tortie Foundation: | $94,255 |
| Other organizations performing similar types of work: | $105,489 |
Assets in 2013: $43,501 (it was $15,922 in 2012)
| This organization: | $43,501 |
| Other organizations performing similar types of work: | $325,460 |
Expenses in 2012: $13,500
| Tortie Foundation: | $13,500 |
| Other organizations performing similar types of work: | $49,058 |
Income to expenses ratio in 2012: 7.0
| Tortie Foundation: | 7.0 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2012: 124.1%
| This organization: | 124.1% |
| Other organizations performing similar types of work: | 22.8% |
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 | $1,660 | $0 | $0 | |
| Contributions, gifts, grants, etc., received | $2,060 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $13,500 | $0 | $7,938 | $500 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $13,000 | $0 | $0 | |
| Contributions, gifts, grants paid | $500 | |||
| Excess of revenue over expenses and disbursements | $-11,840 | |||
| Net investment income | $0 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $15,922 | $15,922 |
| Cash - non-interest-bearing | $2,093 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $7,233 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $6,596 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $15,922 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-400 |
| 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 | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| 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? | 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 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 | $21,841 |
| Net value of noncharitable-use assets | $21,520 |
| Minimum investment return | $1,076 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| 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 | Skip Viragh Foundation Inc | 316 California Ave Ste 448, Reno, NV 89509-1650 | NV | 2007-02 | $73,625,043 |
| 2 | Elaine P Wynn And Family Foundation, Elaine P Wynn Ttee | 3131 Las Vegas Blvd S, Las Vegas, NV 89109-1967 | NV | 2011-09 | $30,871,443 |
| 3 | The Steven G Mihaylo Foundation | PO BOX 19790, Reno, NV 89511-2471 | NV | 2001-09 | $20,747,969 |
| 4 | Prometheus Foundation | PO BOX 1157, Crystal Bay, NV 89402-1157 | NV | 2010-09 | $15,986,905 |
| 5 | The Nell J Redfield Foundation | 1755 East Plumb Lane, Reno, NV 89502-3647 | NV | 2010-03 | $13,314,908 |
| 6 | Elbridge And Debra Stuart Family Foundation | PO BOX 8340, Incline Vlg, NV 89452-8340 | NV | 2009-08 | $8,726,104 |
| 7 | The Murren Family Foundation | 9101 West Sahara Avenue 105-H9, Las Vegas, NV 89117-5772 | NV | 2001-01 | $3,818,557 |
| 8 | Dean Seeman Foundation | 1512 Wildrose Dr, Gardnerville, NV 89410-4115 | NV | 2010-09 | $3,243,365 |
| 9 | Tusher Family Foundation | 100 W Liberty Street 10th Floor, Reno, NV 89501-1962 | NV | 2005-06 | $3,030,085 |
| 10 | Williams Family Foundation | 59 Damonte Ranch Parkway, Reno, NV 89521-1907 | NV | 2008-01 | $1,521,580 |
| 11 | Wagner Foundation | 4790 Caughlin Pkwy 808, Reno, NV 89519-0907 | NV | 2010-07 | $1,059,784 |
| 12 | Sawyer Family Foundation | 2654 W Horizon Ridge Pkwy 176, Henderson, NV 89052-2803 | NV | 2003-08 | $1,057,319 |
| 13 | Ruvo Family Foundation, Ruvo Camille Director | 8400 S Jones Blvd, Las Vegas, NV 89139-6803 | NV | 2004-02 | $1,008,791 |
| 14 | Terry Lee Wells Foundation Inc | PO BOX 70806, Reno, NV 89570-0806 | NV | 1999-12 | $988,480 |
| 15 | Ray Sietsema Irrv Tr Ua | PO BOX 95021, Henderson, NV 89009-5021 | NV | 2014-08 | $970,234 |
| 16 | Archer Foundation | 2747 Paradise Rd Unit 3604, Las Vegas, NV 89109-9079 | NV | 2012-08 | $899,952 |
| 17 | Ettore Richard Derosa Jr Foundation | 4755 Caughlin Pkwy Ste B, Reno, NV 89519-0980 | NV | 2011-04 | $852,050 |
| 18 | Theodore And Doris Lee Family Foundation | 3271 S Highland Dr Ste 704, Las Vegas, NV 89109-1051 | NV | 2010-07 | $635,000 |
| 19 | Stillwater Foundation Inc | PO BOX 868, Reno, NV 89504-0868 | NV | 2006-04 | $509,811 |
| 20 | Edelmann Family Foundation | PO BOX 4914, Incline Vlg, NV 89450-4914 | NV | 2010-08 | $423,687 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 22,395 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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