Red And Gena Leonard Foundation in Hermiston, Oregon (OR)

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Red And Gena Leonard Foundation
Employer Identification Number (EIN)931232272
Name of OrganizationRed And Gena Leonard Foundation
AddressPO BOX 1024, Hermiston, OR 97838-3024
ActivitiesScholarships (other)
SubsectionCharitable Organization
Ruling Date06/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$4,428,787
Amount of Income$711,111
Form 990 Revenue Amount$173,872
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2014: $711,111 (it was $200,603 in 2013)
Red And Gena Leonard Foundation: 

 $711,111
Other organizations performing similar types of work: 

 $72,336

Assets in 2014: $4,428,787 (it was $4,475,129 in 2013)
This organization: 

 $4,428,787
Other organizations performing similar types of work: 

 $239,394

Expenses in 2013: $226,196
This organization: 

 $226,196
Other organizations performing similar types of work: 

 $40,888

Income to expenses ratio in 2013: 3.1
This organization: 

 3.1
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 0.1%

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$200,603$200,603$158,609
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$155,009
Gross rents$3,600
Gross sales price for all assets$503,696
Gross profit from sales of goods$0
Other income$0
Other$41,994
Total expenses and disbursements$226,196$38,169$0$188,027
Compensation of officers, directors, trustees, etc.$33,000
Pension plans, employee benefits$0
Legal fees$4,878
Accounting fees$0
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$67,385$38,169$29,216
Contributions, gifts, grants paid$158,811
Excess of revenue over expenses and disbursements$-25,593
Net investment income$162,434
Adjusted net income$158,609
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$4,564,213$5,124,799$4,500,722$5,077,973$4,475,129$5,507,536
Cash - non-interest-bearing$15,625$10,113$6,929
Investments-U.S. and state government obligations$275,080$36,010$35,199
Investments-corporate stock$2,728,868$3,009,562$3,043,656
Investments-corporate bonds$940,498$866,844$763,401
Investments-mortgage loans$0$0$0
Investments-other$105,000$95,600$80,000
Other assets$0
Total liabilities$0$0$0
Total liabilities and net assets/fund balances$4,564,213$4,500,722$4,475,129
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$48,407$13,528$41,994
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$3,539$2,384$3,249
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$99$54$54
Tax due$3,303
Overpayment$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
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?NoNoNo
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?NoNoNo
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?NoNoNo
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
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
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?NoNoNo
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?NoNoNo
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?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
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))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
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
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$4,836,067$5,015,269$5,287,631
Net value of noncharitable-use assets$5,208,317
Minimum investment return$238,176$247,002$260,416
Distributable Amount
201120122013
Distributable amount$234,637$244,618$257,167
Undistributed Income
201120122013
Distributable amount for this year$234,637$244,618$257,167
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
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$0$155,009
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
1Sylvester H Reed Memorial TrustPO BOX 1111, Pflugerville, TX 78691-1111TX1998-01$1,242,927
2Merrill Family Foundation Inc17952 Sw Parrish Ln, Sherwood, OR 97140-8857OR1996-04$11,422,419
3Red And Gena Leonard FoundationPO BOX 1024, Hermiston, OR 97838-3024OR1998-06$711,111
4Watt Brothers Scholars TrustPO BOX 999, Tillamook, OR 97141-0999OR1998-08$371,447
5Walter E & Helen W Bruckert Scholarship FundPO BOX 3168, Portland, OR 97208-3168OR1991-09$225,778
6West Linn-Wilsonville Education Foundation22210 Sw Stafford Rd, Tualatin, OR 97062-7738OR1994-07$115,660
7Silvey Family FoundationPO BOX 205, Tualatin, OR 97062-0205OR1996-09$88,343
8Suhr Family Memorial Scholarship FundPO BOX 3168, Portland, OR 97208-3168OR1998-09$32,047
9Tillamook High School Alumni Scholarship Fund IncPO BOX 195, Tillamook, OR 97141-0195OR1998-04$25,593
10Ruth Mishler Memorial TrustPO BOX 37, Sheridan, OR 97378-0037OR1996-01$18,916
11Sonshine School Foundation317 Court St Ne Ste 203, Salem, OR 97301-3564OR1996-05$9,670
12Southeast Asia Scholarship Fund8780 Sw Pacer Dr, Beaverton, OR 97008-6915OR1995-08$1,600
13Mexican-American Citizens LeaguePo Box 653, Ontario, OR 97914OR1993-09$53
14Earle C May Kruse Way Rotary Foundation Inc, Kruse Way Rotary Foundation IncPo Box 1401, Lake Oswego, OR 97035OR1996-11$0
15Knappa High School Scholarship IncRt 6 Box 226, Astoria, OR 97103-9806OR1995-02$0
16Legacy From The HeartPO BOX 932, Albany, OR 97321-0347OR1996-04$0
17Pendleton High School Faculty Scholarship Fund1800 Nw Carden Ave, Pendleton, OR 97801-1185OR1985-05$0
18Steady Course10175 Sw Barbur Blvd Ste 30bl, Portland, OR 97219-5908OR1996-09$0
19Warrenton High School Scholarships IncPo Box 316, Hammond, OR 97121OR1995-01$0
20Women For Cascade-Columbia10550 Se Market St, Portland, OR 97216-2952OR1996-07$0
Number of organizations performing similar types of work
Alaska15
Alabama29
Arkansas27
Arizona42
California252
Colorado46
Connecticut69
District of Columbia36
Delaware10
Florida151
Georgia78
Hawaii18
Iowa52
Idaho15
Illinois193
Indiana80
Kansas57
Kentucky48
Louisiana26
Massachusetts102
Maryland74
Maine15
Michigan138
Minnesota61
Missouri93
Mississippi12
Montana14
North Carolina100
North Dakota5
Nebraska30
New Hampshire12
New Jersey147
New Mexico15
Nevada16
New York202
Ohio188
Oklahoma33
Oregon38
Pennsylvania160
Rhode Island22
South Carolina36
South Dakota7
Tennessee42
Texas251
Utah11
Virginia136
Vermont9
Washington68
Wisconsin96
West Virginia21
Wyoming9
International5
Total3,412

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