Lucress Watson And Richard Watson Childrens Foundation in Franklin, Texas (TX)
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
- Organizations performing similar types of work
| Lucress Watson And Richard Watson Childrens Foundation | |
| Employer Identification Number (EIN) | 010718020 |
| Name of Organization | Lucress Watson And Richard Watson Childrens Foundation |
| In Care of Name | Fng Llc |
| Address | PO BOX 277, Franklin, TX 77856-0277 |
| Subsection | Charitable Organization |
| Ruling Date | 10/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $3,191,327 |
| Amount of Income | $307,248 |
| Form 990 Revenue Amount | $322,826 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Operating Foundations |
Non-representatives - add comments:
Amount of income in 2013: $307,248 (it was $544,672 in 2012)
| Lucress Watson And Richard Watson Childrens Foundation: | $307,248 |
| Other organizations performing similar types of work: | $45,945 |
Assets in 2013: $3,191,327 (it was $3,282,560 in 2012)
| This organization: | $3,191,327 |
| Other organizations performing similar types of work: | $120,180 |
Expenses in 2011: $243,251
| Lucress Watson And Richard Watson Childrens Foundation: | $243,251 |
| Other organizations performing similar types of work: | $39,714 |
Income to expenses ratio in 2011: 1.3
| This organization: | 1.3 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2011: 0.6%
| This organization: | 0.6% |
| Other organizations performing similar types of work: | 2.2% |
Revenue for 2011
Expenses for 2011
Assets for 2011
| Analysis of Revenue and Expenses (for 2011) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $322,826 | $320,911 | $320,911 | |
| Contributions, gifts, grants, etc., received | $1,914 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $189 | |||
| Gross rents | $313,675 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $7,047 | |||
| Other | $1 | |||
| Total expenses and disbursements | $243,251 | $134,154 | $134,154 | $148,366 |
| Compensation of officers, directors, trustees, etc. | $25,498 | |||
| Total operating and administrative expenses | $243,251 | $134,154 | $148,366 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $79,575 | |||
| Net investment income | $186,757 | |||
| Adjusted net income | $186,757 | |||
| Balance Sheets (for 2011) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $2,835,557 | $2,904,410 |
| Cash - non-interest-bearing | $145,001 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $2,690,556 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $2,835,557 | |
| Capital Gains and Losses for Tax on Investment Income (for 2011) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2011) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $0 |
| Amount to be credited to 2012 estimated tax | $0 |
| Statements Regarding Activities (for 2011) | |
| 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 2011 or the taxable year beginning in 2011? | Yes |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2011) | |
| 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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011? | 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 2011) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $2,059,350 |
| Net value of noncharitable-use assets | $2,028,460 |
| Minimum investment return | $101,423 |
| Distributable Amount (for 2011) | |
| Distributable amount | $0 |
| Undistributed Income (for 2011) | |
| Distributable amount for 2011 | $0 |
| Undistributed income for 2011. This amount must be distributed in 2012 | $0 |
| Private Operating Foundations (for 2011) | |||||
| 2011 | 2010 | 2009 | 2008 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $101,423 | $95,606 | $105,407 | $45,795 | $348,231 |
| Qualifying distributions made directly for active conduct of exempt activities | $0 | $0 | $0 | $0 | $0 |
| Value of all assets | $1 | $0 | $0 | $0 | $1 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $0 | $0 | $0 | $0 | $0 |
| 2/3 of minimum investment return | $67,458 | $63,730 | $70,264 | $30,530 | $231,982 |
| 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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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Tom T East Sr & Alice K East & Alice H East & Robert C East Wildl | 200 Concord Plaza Suite 410, San Antonio, TX 78216-6943 | TX | 2008-04 | $97,626,236 |
| 2 | The Caldwell Foundation | 2215 W Martin Luther King Jr Blvd, Tyler, TX 75702-2954 | TX | 1954-09 | $35,190,048 |
| 3 | Happy Trails For Old Tails Inc | 1066 Piney Woods Rd, Alleyton, TX 78935 | TX | 2011-02 | $5,698,570 |
| 4 | Whole Kids Foundation | 550 Bowie Street, Austin, TX 78703-4694 | TX | 2011-06 | $3,919,950 |
| 5 | Wellness Farms Inc | PO BOX 187, Katy, TX 77492-0187 | TX | 2011-07 | $1,938,430 |
| 6 | The Lanier Theological Library Foundation | 6810 Fm 1960 Rd W, Houston, TX 77069-3804 | TX | 2013-04 | $1,238,922 |
| 7 | Steve & Majorie Harvey Foundation | 7322 Southwest Fwy Ste 2010, Houston, TX 77074-2077 | TX | 2008-04 | $1,012,558 |
| 8 | Texas Cardiac Arrhythmia Research Foundation | 3000 N Ih35 Ste 705, Austin, TX 78705-1852 | TX | 1999-04 | $776,294 |
| 9 | Pollinate Ventures Inc | 2215 Cedar Springs Rd Apt 816, Dallas, TX 75201-1835 | TX | 2009-12 | $659,989 |
| 10 | Manna International Charitable Foundation, Blake Sandford Ttee | PO BOX 607, Greenwood, TX 76246-0607 | TX | 2010-10 | $652,074 |
| 11 | Thinking Like A Mountain Foundation | 2719 Belmeade Dr, Carrollton, TX 75006-2119 | TX | 2007-05 | $281,964 |
| 12 | Dorman Foundation | 2918 Freshmeadows Dr, Houston, TX 77063-4814 | TX | 2013-02 | $273,475 |
| 13 | Kristin Saleri Art Foundation Inc | 909 Fannin St Ste 2200, Houston, TX 77010-1043 | TX | 2014-07 | $225,506 |
| 14 | Legacy West Education Foundation | PO BOX 81, West, TX 76691-0081 | TX | 2011-02 | $203,428 |
| 15 | Dr Upali P Weerasooriya | 11103 Andenwood Dr, Austin, TX 78726-1397 | TX | 2011-06 | $130,963 |
| 16 | Folding Ten Ministries | PO BOX 79683, Fort Worth, TX 76179-0683 | TX | 2009-10 | $62,373 |
| 17 | Foundation For Pediatric Acute Care And Quality | 7777 Forest Ln Ste D-569, Dallas, TX 75230-6903 | TX | 2014-07 | $61,134 |
| 18 | Ret-Kat Foundation | PO BOX 1699, Waco, TX 76703-1699 | TX | 2004-12 | $27,821 |
| 19 | Foundation Grace | PO BOX 192327, Dallas, TX 75219-8517 | TX | 2009-04 | $26,865 |
| 20 | The@mabel Ekman Charitable Foundation | 4104 Far West Blvd, Austin, TX 78731-2802 | TX | 2004-08 | $21,107 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,344 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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