Washington Trust Charitable Foundation, Washington Trust Company in Westerly, Rhode Island (RI)
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
- Other organizations in Rhode Island
| Washington Trust Charitable Foundation, Washington Trust Company | |
| Employer Identification Number (EIN) | 050477294 |
| Name of Organization | Washington Trust Charitable Foundation |
| Secondary Name | Washington Trust Company |
| Address | 23 Broad Street, Westerly, RI 02891-1879 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 08/1994 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $500,000 to $999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $2,634,528 |
| Amount of Income | $706,307 |
| Form 990 Revenue Amount | $1,162,299 |
Non-representatives - add comments:
Revenue for 2012
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 | $640,338 | $240,338 | $0 | |
| Contributions, gifts, grants, etc., received | $400,000 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $56,536 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $183,802 | |||
| Total expenses and disbursements | $347,399 | $886 | $0 | $340,233 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $7,166 | $886 | $0 | |
| Contributions, gifts, grants paid | $340,233 | |||
| Excess of revenue over expenses and disbursements | $292,939 | |||
| Net investment income | $239,452 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $2,561,732 | $2,759,713 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,290,048 | |
| Investments-corporate bonds | $520,281 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $751,403 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $2,561,732 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $183,802 |
| Net capital loss | $0 |
| 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 | $4,789 |
| Total credits and payments | $4,800 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $4,800 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $0 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $11 |
| 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? | Yes |
| 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 | $2,371,591 |
| Net value of noncharitable-use assets | $2,336,020 |
| Minimum investment return | $116,801 |
| Distributable Amount (for 2012) | |
| Distributable amount | $112,012 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $112,012 |
| 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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| Other organizations in Rhode Island | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Veterans Of Foreign Wars Dept Of Rhode Island, 237 Anthony C Almeida | 850 Hope St, Bristol, RI 02809-1107 | RI | 1957-03 | $111,656 |
| 2 | Veterans Of Foreign Wars Dept Of Rhode Island, 2812 Kelley Gazzero | 1418 Plainfield Pike, Cranston, RI 02920-2151 | RI | 1944-11 | $305,480 |
| 3 | Veterans Of Foreign Wars Dept Of Rhode Island, 449 Vfw-Ri Sgt David Langevin | 197 Providence St, West Warwick, RI 02893-2504 | RI | 1944-11 | $122,535 |
| 4 | Veterans Of Foreign Wars Dept Of Rhode Island, 5390 Vfw-Ri Alvaro E Vieira | 822 Anthony Rd, Portsmouth, RI 02871-5604 | RI | 1957-03 | $25,607 |
| 5 | Visiting Nurse Service Of Greater Woonsocket Tr 3-9109-004, Fleet National Bank | 6 Blackstone Valley Pl Ste 515, Lincoln, RI 02865-1102 | RI | 1997-08 | $486,667 |
| 6 | Vsa Arts Of Rhode Island | 500 Prospect St, Pawtucket, RI 02860-6258 | RI | 1988-03 | $175,541 |
| 7 | W B N A Inc | 1560 Westminster St, Providence, RI 02909-1805 | RI | 1993-06 | $188,538 |
| 8 | Wanskuck Housing Corporation | 250 Centerville Road No 11, Warwick, RI 02886-4400 | RI | 1980-01 | $499,189 |
| 9 | Warwick Independent School Employees | 34 Aberdeen Ave, Warwick, RI 02888-4214 | RI | 1978-11 | $186,006 |
| 10 | Warwick Soccer Association | PO BOX 6880, Warwick, RI 02887-6880 | RI | 2004-08 | $101,533 |
| 11 | Washington Trust Charitable Foundation, Washington Trust Company | 23 Broad Street, Westerly, RI 02891-1879 | RI | 1994-08 | $706,307 |
| 12 | Watch Hill Lighthouse Keepers Association | PO BOX 1511, Westerly, RI 02891-0908 | RI | 1987-02 | $1,014,065 |
| 13 | Watch Hill Yacht Club | PO BOX 2933, Westerly, RI 02891-0932 | RI | 1956-04 | $1,775,542 |
| 14 | Waypoyset Preserve Tr, Medeiros Mark | 42 Clipper Way, Bristol, RI 02809-4810 | RI | 2001-03 | $22,443 |
| 15 | Welcome House Of South County | 8 North Rd, Peace Dale, RI 02879-2165 | RI | 1988-05 | $375,535 |
| 16 | West Warwick Assistance Agency Inc | 1293 Main St, West Warwick, RI 02893-4807 | RI | 1985-04 | $56,233 |
| 17 | West Warwick Public Library Association | 1043 Main St, West Warwick, RI 02893-3643 | RI | 2005-06 | $31,315 |
| 18 | Westerly Ambulance Corps Inc | 30 Chestnut St, Westerly, RI 02891-2269 | RI | 1927-05 | $2,128,500 |
| 19 | Westerly Education Endowment Fund Inc | PO BOX 1219, Westerly, RI 02891-0904 | RI | 2008-01 | $58,489 |
| 20 | Westerly Wrestling Club Inc | 107 Airport Road, Westerly, RI 02891 | RI | 2006-04 | $12,319 |
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