Polly Boyd Scholarship Fund in Chattanooga, Tennessee (TN)

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Polly Boyd Scholarship Fund
Employer Identification Number (EIN)626184352
Name of OrganizationPolly Boyd Scholarship Fund
In Care of NameThe Honors Course Inc
AddressPO BOX 23176, Chattanooga, TN 37422-3176
SubsectionCharitable Organization
Ruling Date01/1986
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$500,000 to $999,999
Income$25,000 to $99,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$571,763
Amount of Income$53,888
Form 990 Revenue Amount$26,413


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Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$7,466$10,061$9,208
Contributions, gifts, grants, etc., received$1,350
Interest on savings and temporary cash investments$0
Dividends and interest from securities$2,928
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$3,188
Total expenses and disbursements$56,346$0$0$56,008
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$346$0$8
Contributions, gifts, grants paid$56,000
Excess of revenue over expenses and disbursements$-48,880
Net investment income$10,061
Adjusted net income$9,208
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$564,103$605,100
Cash - non-interest-bearing$16,387
Investments-U.S. and state government obligations$0
Investments-corporate stock$0
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$547,716
Total liabilities$0
Total liabilities and net assets/fund balances$564,103
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$3,188
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$201
Total credits and payments$400
2012 estimated tax payments and 2011 overpayment credited to 2012$400
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$0
Overpayment$199
Amount to be credited to 2013 estimated tax$199
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$632,400
Net value of noncharitable-use assets$622,920
Minimum investment return$31,146
Distributable Amount (for 2012)
Distributable amount$37,225
Undistributed Income (for 2012)
Distributable amount for 2012$37,225
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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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