Westfield Academy Trustees in Providence, 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
| Westfield Academy Trustees | |
| Employer Identification Number (EIN) | 046038871 |
| Name of Organization | Westfield Academy Trustees |
| In Care of Name | Bank Of New England West |
| Address | PO BOX 1802, Providence, RI 02901-1802 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Educational Organization, Charitable Organization |
| Ruling Date | 11/1963 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $2,170,803 |
| Amount of Income | $2,365,983 |
| Form 990 Revenue Amount | $216,162 |
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 | $292,208 | $290,637 | $0 | |
| Contributions, gifts, grants, etc., received | $1,500 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $47,235 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $243,473 | |||
| Total expenses and disbursements | $121,558 | $7,876 | $0 | $105,963 |
| Compensation of officers, directors, trustees, etc. | $18,127 | |||
| Total operating and administrative expenses | $31,558 | $7,876 | $15,963 | |
| Contributions, gifts, grants paid | $90,000 | |||
| Excess of revenue over expenses and disbursements | $170,650 | |||
| Net investment income | $282,761 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $2,164,936 | $2,221,538 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $1,976,461 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $188,475 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $2,164,936 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $243,473 |
| 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 | $5,655 |
| Total credits and payments | $4,060 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $4,060 |
| 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 | $0 |
| Tax due | $1,595 |
| 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 | $2,189,957 |
| Net value of noncharitable-use assets | $2,157,100 |
| Minimum investment return | $107,855 |
| Distributable Amount (for 2012) | |
| Distributable amount | $102,200 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $102,200 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $65,297 |
| 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 | West Warwick Wizards Awards Association Inc | PO BOX 301, W Warwick, RI 02893-0301 | RI | 1970-05 | $82,508 |
| 2 | Westbay Community Action Inc | 224 Buttonwoods Ave, Warwick, RI 02886-7541 | RI | 1966-08 | $8,551,784 |
| 3 | Westbay Housing Corporation | 224 Buttonwoods Ave, Warwick, RI 02886-7541 | RI | 2005-08 | $45,552 |
| 4 | Westerly Armory Restoration, Friends Of The Armory | PO BOX 614, Westerly, RI 02891-0614 | RI | 1993-06 | $124,877 |
| 5 | Westerly Community Credit Union | 122 Granite St, Westerly, RI 02891-2435 | RI | 1993-02 | $12,442,124 |
| 6 | Westerly Courts Inc | 249 Roosevelt Ave, Pawtucket, RI 02860-2134 | RI | 2003-09 | $118,385 |
| 7 | Westerly Hospital Foundation Inc | 25 Wells St, Westerly, RI 02891-2922 | RI | 2000-02 | $1,895,158 |
| 8 | Westerly Senior Citizen Center Association | 39 State St, Westerly, RI 02891-2737 | RI | 1985-08 | $566,488 |
| 9 | Westerly Teachers Association | 15 Highland Ave, Westerly, RI 02891-2203 | RI | 1999-01 | $65,676 |
| 10 | Westerly-Area-Rest-Meals-Warm-Inc, Warm Shelter | 56 Spruce St, Westerly, RI 02891-1922 | RI | 1988-05 | $1,870,772 |
| 11 | Westfield Academy Trustees | PO BOX 1802, Providence, RI 02901-1802 | RI | 1963-11 | $2,365,983 |
| 12 | Westvile Cemetery Inc Tr Ua Perpetual Care Fund | PO BOX 1802, Providence, RI 02901-1802 | RI | 1975-08 | $187,871 |
| 13 | Westville Cemetery Inc | PO BOX 1802, Providence, RI 02901-1802 | RI | 1943-01 | $121,811 |
| 14 | What Cheer Art Company | PO BOX 23011, Providence, RI 02903-0394 | RI | 1995-02 | $61,345 |
| 15 | What Kids Can Do Inc | Po Box 603252, Providence, RI 02906 | RI | 2000-11 | $217,470 |
| 16 | White Lily Foundation 0012332370 | PO BOX 1802, Providence, RI 02901-1802 | RI | 2002-12 | $59,153 |
| 17 | Whitmarsh Corporation | PO BOX 72832, Providence, RI 02907-0832 | RI | 1976-08 | $3,080,985 |
| 18 | Whitney & Karen Bowen Charitable Trust Uw W B 2221300 | PO BOX 1802, Providence, RI 02901-1802 | RI | 1987-02 | $202,960 |
| 19 | Whitney For Charity 137-3090900070 | PO BOX 1802, Providence, RI 02901-1802 | RI | $674,192 | |
| 20 | Whitty Frederick G And Lucy A Fund | PO BOX 1802, Providence, RI 02901-1802 | RI | $13,745 | |
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