Hancock Community Education Foundation, Hancock Community Education in Hancock, New York (NY)

Hancock Community Education Foundation, Hancock Community Education
Employer Identification Number (EIN)	161571509
Name of Organization	Hancock Community Education Foundation
Secondary Name	Hancock Community Education
Address	PO BOX 819, Hancock, NY 13783-0819
Subsection	Charitable Organization
Ruling Date	02/2000
Deductibility	Contributions are deductible
Foundation	Organization which receives a substantial part of its support from a governmental unit or the general public
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2014
Assets	$1,000,000 to $4,999,999
Income	$100,000 to $499,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$1,179,197
Amount of Income	$341,418
Form 990 Revenue Amount	$327,887
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 2014: $341,418 (it was $422,951 in 2013)

This organization:	$341,418
Other organizations performing similar types of work:	$41,680

Assets in 2014: $1,179,197 (it was $1,105,480 in 2013)

This organization:	$1,179,197
Other organizations performing similar types of work:	$65,579

Expenses in 2014: $263,816

Hancock Community Education Foundation, Hancock Community Education:	$263,816
Other organizations performing similar types of work:	$24,470

Income to expenses ratio in 2014: 1.3

Hancock Community Education Foundation, Hancock Community Education:	1.3
Other organizations performing similar types of work:	0.5

Grants share in income in 2014: 65.0%

This organization:	65.0%
Other organizations performing similar types of work:	9.0%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

	2013	2014
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	Yes	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	Yes	Yes
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	Yes	No
Did the organization report an amount for land, buildings, and equipment?	Yes	Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	No	No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	Yes	Yes
Did the organization report an amount for other liabilities?	No	No
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	No	No
Did the organization obtain separate, independent audited financial statements for the tax year?	No	No
Was the organization included in consolidated, independent audited financial statements for the tax year?	No	No
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	Yes	Yes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	No	No
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	No	No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	No	No
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	No	No
Did the organization receive more than $25,000 in non-cash contributions?	No	No
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	No	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	No	No
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	No	No
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2012	2013	2014
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		2	2
The number of Forms W-2G		0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		No	No
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		34	32
Did the organization file all required federal employment tax returns?		No	No
Did the organization have unrelated business gross income of $1,000 or more during the year?	No	No	No
Has it filed a Form 990-T for this year?		No	No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		No	No
Did the organization notify the donor of the value of the goods or services provided?		No	No
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2013	2014
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$0	$0
Total reportable compensation from related organizations	$0	$0
Total estimated amount of other compensation from the organization and related organizations	$0	$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization	0	0
Total number of independent contractors who received more than $100,000 of compensation from the organization	0	0

	2012	2013	2014
Statement of Revenue
Total revenue	$206,032	$422,951	$327,887
Contributions, Gifts, Grants and Other Similar Amounts	$178,036	$378,429	$213,169
Program Service Revenue	$0	$0	$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$12,657	$25,547	$85,977
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$0	$0	$0
Net rental income	$0	$0	$0
Net gain/loss from sales of assets other than inventory	$-4,386	$0	$0
Net income/loss from fundraising events	$19,725	$18,975	$28,741
Gross income from fundraising events	$37,657	$27,860	$42,272
Less: direct expenses	$17,932	$8,885	$13,531
Net income/loss from gaming activities	$0	$0	$0
Net income/loss from sales of inventory	$0	$0	$0
Miscellaneous Revenue	$0	$0	$0

	2012	2013	2014
Statement of Functional Expenses
Total functional expenses	$212,086	$233,353	$263,816
Grants and other assistance to domestic organizations and domestic governments		$0	$0
Grants and other assistance to domestic individuals		$68,650	$79,150
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$30,115	$0	$0
Compensation not included above, to disqualified persons		$0	$0
Other salaries and wages	$66,195	$96,505	$113,085
Pension plan accruals and contributions		$0	$0
Other employee benefits		$0	$0
Payroll taxes	$7,325	$7,412	$8,721
Fees for services (non-employees)
Management		$0	$0
Legal		$0	$0
Accounting		$0	$0
Lobbying		$0	$0
Professional fundraising services	$0	$0	$0
Investment management fees		$0	$0
Other		$8,792	$6,760
Advertising and promotion		$2,660	$3,109
Office expenses		$0	$0
Information technology		$0	$0
Royalties		$0	$0
Occupancy		$3,831	$2,787
Travel		$996	$5,208
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$2,493	$550
Interest		$0	$0
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$0	$0
Insurance		$8,396	$7,388
Other expenses		$7,558	$7,270
Other expenses		$5,059	$6,474
Other expenses		$5,042	$5,759
Other expenses		$4,894	$5,536
Other expenses		$0	$12,019

	2012	2013	2014
Balance Sheet
Total assets	$859,923	$1,105,480	$1,179,197
Cash - non-interest-bearing		$362,174	$195,942
Savings and temporary cash investments		$0	$0
Pledges and grants receivable, net		$13,780	$10,994
Accounts receivable, net		$0	$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$0	$0
Prepaid expenses and deferred charges		$0	$0
Land, buildings, and equipment: cost or other basis		$231,407	$393,549
Investments - publicly traded securities		$0	$0
Investments - other securities		$0	$0
Investments - program-related		$0	$0
Intangible assets		$0	$0
Other assets		$498,119	$578,712
Total liabilities	$58,669	$77,993	$87,639
Accounts payable and accrued expenses		$7,993	$6,839
Grants payable		$70,000	$80,800
Deferred revenue		$0	$0
Tax-exempt bond liabilities	$0	$0	$0
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$0	$0
Total net assets or fund balances	$801,254	$1,027,487	$1,091,558
Unrestricted net assets		$260,871	$447,203
Temporarily restricted net assets		$735,616	$613,355
Permanently restricted net assets		$31,000	$31,000
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:	An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported	0
Sum of amounts of support	$0

	2010 - 2014 Total
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
Public Support	$1,389,765
Subtotal Support	$1,389,765
Gifts, grants, contributions, and membership fees received	$1,389,765
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf	$0
The value of services or facilities furnished by a governmental unit to the organization without charge	$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support	$0
Total Support	$1,438,904
Public Support	$1,389,765
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources	$49,139
Net income from unrelated business activities, whether or not the business is regularly carried on	$0
Other income. Do not include gain or loss from the sale of capital assets	$0
Gross receipts from related activities, etc.	$0

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Id	Name	Address	State	Established	Total Income
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2	Subsea Tieback Scholarship Fund	5418 Woodbury St, Fulshear, TX 77441-4139	TX	2007-10	$101,112
3	Tom Mcmahon Construction Scholarship Fund	4441 S Abilene Cir, Aurora, CO 80015-1047	CO	2006-11	$18,033
4	Tikvah Fund	165 E 56th St Ste 4th Fl, New York, NY 10022-2709	NY	1992-11	$62,409,051
5	The Teagle Foundation Incorporated	570 Lexington Ave Fl 38, New York, NY 10022-6859	NY	2004-11	$27,848,255
6	Stephen Siller Tunnel To Towers Foundation	2361 Hylan Blvd, Staten Island, NY 10306-3100	NY	2003-02	$11,264,442
7	Uncommon Lender Inc	C/O Rhf 826 Broadway 9th Floor, New York, NY 10003	NY	2012-08	$7,345,749
8	Joan And Irwin Jacobs Technion-Cornell Innovation Instit, Jacobs Technion-Cornell Innovation	111 8th Ave Ste 302, New York, NY 10011-5204	NY	2014-12	$6,393,580
9	The International Council Of Shopping Centers Foundation Inc	1221 Avenue Of The Americas 41st, New York, NY 10020	NY	1991-01	$3,166,974
10	Working In Support Of Education	227 East 56th Street, New York, NY 10022-3754	NY	1999-06	$2,208,439
11	Yma Fashion Scholarship Fund	1501 Broadway Ste 1810, New York, NY 10036-5600	NY	2007-06	$2,006,098
12	Uniformed Firefighters Associations Scholarship Fund Inc	204 East 23rd Street, New York, NY 10010-4628	NY	2002-09	$1,954,192
13	Vhiv Inc	477 Madison Ave Fl 10, New York, NY 10022-5841	NY	1991-06	$1,568,689
14	Ylry Inc	477 Madison Ave Fl 10, New York, NY 10022-5841	NY	1993-08	$1,471,992
15	Santo J Speranza Schlrshp Tr 12181996	One Court Square-29th Fl, Long Island City, NY 11120-0001	NY	2002-03	$1,366,683
16	Smbc Global Foundation Inc	277 Park Avenue 5th Floor, New York, NY 10172-0003	NY	2013-11	$1,267,623
17	Wolstencroft Family Foundation, Goldman Sachs Family Office	PO BOX 73, New York, NY 10274-0073	NY	1999-03	$1,230,680
18	The Mckelvey Entrepreneurial Foundation	200 Park Ave 44th Floor, New York, NY 10166-0005	NY	2007-02	$1,210,803
19	Hoffman Brothers Foundation Inc	220 E 42nd St 5th Flr, New York, NY 10017-5806	NY	2011-06	$1,173,321
20	The Andrew K Dwyer Foundation, Dwyer Cynthia K Ttee	756 Guard Hill Rd, Bedford, NY 10506-1042	NY	2003-08	$940,767

Number of organizations performing similar types of work

Alaska	48
Alabama	286
Arkansas	212
Arizona	375
California	2,590
Colorado	397
Connecticut	360
District of Columbia	210
Delaware	90
Florida	1,248
Georgia	644
Hawaii	125
Iowa	241
Idaho	90
Illinois	1,083
Indiana	348
Kansas	216
Kentucky	271
Louisiana	247
Massachusetts	819
Maryland	580
Maine	135
Michigan	690
Minnesota	353
Missouri	459
Mississippi	159

Montana	122
North Carolina	631
North Dakota	29
Nebraska	124
New Hampshire	145
New Jersey	1,137
New Mexico	122
Nevada	157
New York	1,581
Ohio	902
Oklahoma	233
Oregon	274
Pennsylvania	951
Rhode Island	132
South Carolina	243
South Dakota	54
Tennessee	325
Texas	2,055
Utah	196
Virginia	649
Vermont	87
Washington	473
Wisconsin	403
West Virginia	110
Wyoming	43
International	27

Total

23,481

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