Salt Foundation in Murfreesboro, Tennessee (TN)

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Salt Foundation
Employer Identification Number (EIN)260542961
Name of OrganizationSalt Foundation
In Care of NameJohn B Morton - President
Address1102 Virginia Ave, Murfreesboro, TN 37130-5042
SubsectionCharitable Organization
Ruling Date05/2008
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Tax Period12/2012
Assets$5,000,000 to $9,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,644,571
Amount of Income$32,153,490
Form 990 Revenue Amount$32,138,334
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Senior Citizens' Housing/Retirement Communities


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Amount of income in 2012: $32,153,490 (it was $30,632,915 in 2011)
Salt Foundation: 

 $32,153,490
Other organizations performing similar types of work: 

 $284,463

Assets in 2012: $7,644,571 (it was $7,839,005 in 2011)
This organization: 

 $7,644,571
Other organizations performing similar types of work: 

 $1,921,874

Expenses in 2012: $31,740,953
This organization: 

 $31,740,953
Other organizations performing similar types of work: 

 $319,873

Income to expenses ratio in 2012: 1.0
Salt Foundation: 

 1.0
Other organizations performing similar types of work: 

 1.0

Employees paid over $100,000 in 2012: 0.6%
This organization: 

 0.6%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2012: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 0.5%

Financial snapshot ($)

Functional expenses for 2012

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2012)
Total revenue$32,138,334
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$32,153,490
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net loss from sales of assets other than inventory$-15,156
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0
Less: cost or other basis and sales expenses (Securities / Other)$0 / $15,156
Gain or (loss) (Securities / Other)$0 / $-15,156
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2012)
Total functional expenses$31,740,953
Compensation of current officers, directors, trustees, and key employees$27,000
Other salaries and wages$16,758,511
Payroll taxes$1,326,615
Professional fundraising services$0
Other$13,628,827
Balance Sheet (for 2012)
Total assets$7,644,571
Total liabilities$4,700,451
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$4,700,451
Total net assets or fund balances$2,944,120
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2012)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$150,370,108
Gifts, grants, contributions, and membership fees received$73,755
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$150,282,671
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$13,682
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Skidaway Health And Living Services Inc95 Skidaway Island Park Road, Savannah, GA 31411-1104GA1999-11$17,690,138
2St Louis Life2001 E Terra Ln, Ofallon, MO 63366-4434MO2006-01$957,241
3Saugatucket Springs Inc861a Broad St, Providence, RI 02907-1768RI2003-11$470,399
4St Mary Magdlene Apartments IncPO BOX 93108, Lafayette, LA 70509-3108LA2004-03$105,388
5Salt Foundation1102 Virginia Ave, Murfreesboro, TN 37130-5042TN2008-05$32,153,490
6Rutland Place Inc435 Nw Rutland Road, Mount Juliet, TN 37122-8700TN2004-10$3,109,989
7Cleveland Senior Housing Corporation1600 Division St Ste 700, Nashville, TN 37203-2771TN2015-01$454,485
8Taylors Care Home Inc1399 Mcmillan St, Memphis, TN 38106-4513TN1998-07$432,420
9Living The Dream - Retirement Living For Seniors Inc1225 S Willow Ave, Cookeville, TN 38506-4158TN2011-08$394,706
10St Luke Housing Ministry Inc2020 28th Avenue North, Nashville, TN 37208-1263TN2004-01$273,635
11Sweetwater Home For Seniors344 Short Bark Ln, Madisonville, TN 37354-6060TN2008-08$263,751
12Estellas Home Care Inc1082 Vollintine Ave, Memphis, TN 38107-2823TN2009-12$233,662
13Trinity Homes For Elderly Inc407 E Main St, Morristown, TN 37814-4742TN2004-10$206,500
14Grace Place Retirement Community Inc2131 Wilson Rd, Memphis, TN 38116-8674TN2014-07$152,512
15Stanford Homes For Elderly Inc407 E Main St, Morristown, TN 37814-4742TN2002-05$126,214
16Sierra Homes For Elderly IncPO BOX 1218, Morristown, TN 37816-1218TN1995-02$103,590
17Woodbridge Homes For Elderly IncPO BOX 1218, Morristown, TN 37816-1218TN1997-08$101,192
18Shenandoah Apartments-Lafayette1225 S Willow Ave, Cookeville, TN 38506-4158TN2004-09$98,404
19Portage Homes For Elderly Inc, Park Place Apartments Annex407 East Main Street, Morristown, TN 37814TN2007-04$82,772
20Sequatchie HavenPO BOX 795, Charleston, TN 37310-0795TN2013-08$81,252
Number of organizations performing similar types of work
Alaska13
Alabama39
Arkansas54
Arizona36
California254
Colorado60
Connecticut29
District of Columbia9
Delaware8
Florida162
Georgia94
Hawaii13
Iowa34
Idaho8
Illinois82
Indiana47
Kansas26
Kentucky31
Louisiana50
Massachusetts80
Maryland68
Maine21
Michigan95
Minnesota109
Missouri60
Mississippi16
Montana11
North Carolina75
North Dakota13
Nebraska21
New Hampshire18
New Jersey69
New Mexico15
Nevada6
New York174
Ohio130
Oklahoma35
Oregon56
Pennsylvania120
Rhode Island26
South Carolina38
South Dakota11
Tennessee79
Texas157
Utah8
Virginia57
Vermont13
Washington51
Wisconsin58
West Virginia12
Wyoming8
International77
Total2,836

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