Jim Scott Foundation in Charlottesvle, Virginia (VA)
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
| Jim Scott Foundation | |
| Employer Identification Number (EIN) | 541843312 |
| Name of Organization | Jim Scott Foundation |
| In Care of Name | Susan H Hunter |
| Address | 2220 Ivy Rd Ste 401, Charlottesvle, VA 22903-4973 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 05/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 12/2012 |
| Assets | $500,000 to $999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $978,134 |
| Amount of Income | $2,002,009 |
| Form 990 Revenue Amount | $162,277 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations |
Non-representatives - add comments:
Amount of income in 2012: $2,002,009 (it was $162,277 in 2011)
| Jim Scott Foundation: | $2,002,009 |
| Other organizations performing similar types of work: | $124,396 |
Assets in 2012: $978,134 (it was $186,087 in 2011)
| This organization: | $978,134 |
| Other organizations performing similar types of work: | $313,863 |
Expenses in 2012: $1,051,985
| This organization: | $1,051,985 |
| Other organizations performing similar types of work: | $64,100 |
Income to expenses ratio in 2012: 1.9
| This organization: | 1.9 |
| Other organizations performing similar types of work: | 1.5 |
Grants share in income in 2012: 0.0%
| Jim Scott Foundation: | 0.0% |
| Other organizations performing similar types of work: | 0.6% |
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 | $1,844,032 | $1,844,032 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $1,023 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $1,843,009 | |||
| Total expenses and disbursements | $1,051,985 | $50 | $0 | $1,047,435 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $6,985 | $50 | $2,435 | |
| Contributions, gifts, grants paid | $1,045,000 | |||
| Excess of revenue over expenses and disbursements | $792,047 | |||
| Net investment income | $1,843,982 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $978,134 | $978,134 |
| Cash - non-interest-bearing | $971,338 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $6,796 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $978,134 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $1,843,009 |
| 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 | $18,440 |
| Total credits and payments | $2,762 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $2,762 |
| 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 | $15,678 |
| 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 | $1,411,247 |
| Net value of noncharitable-use assets | $1,390,080 |
| Minimum investment return | $69,504 |
| Distributable Amount (for 2012) | |
| Distributable amount | $51,064 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $51,064 |
| 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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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | National Hospice Foundation | 1731 King St Ste 200, Alexandria, VA 22314-2771 | VA | 1991-06 | $2,083,077 |
| 2 | Tony Patino Fellowship Trust 783352 | PO BOX 1297, New York, NY 10008-1297 | NY | 1997-10 | $1,573,984 |
| 3 | Charities Aid Foundation America | 1800 Diagonal Rd Ste 150, Alexandria, VA 22314-2840 | VA | 1993-04 | $91,280,186 |
| 4 | Jim Scott Foundation | 2220 Ivy Rd Ste 401, Charlottesvle, VA 22903-4973 | VA | 1998-05 | $2,002,009 |
| 5 | Mary Ratrie Wick Family Foundation | 300 Virginia Ave, Richmond, VA 23226-1735 | VA | 1997-09 | $601,423 |
| 6 | American Friends Of Yeshiva Shavei Hevron | 11134 Cross Corner Rd, Ashland, VA 23005-7228 | VA | 1995-03 | $426,120 |
| 7 | History Of Medicine Foundation | Vcu Box 980582, Richmond, VA 23298 | VA | 1991-04 | $397,396 |
| 8 | Williamsburg Regional Library Foundation, Hardy Trotter I Ttee | 7770 Croaker Rd, Williamsburg, VA 23188-7064 | VA | 1993-01 | $289,555 |
| 9 | Namme Foundation | 7950 Jones Branch Dr 3rd Fl, Mclean, VA 22102-3302 | VA | 1992-11 | $266,860 |
| 10 | Arts Resource Foundation, Dba Del Ray Artisans | 2704 Mt Vernon Avenue, Alexandria, VA 22301-1124 | VA | 1993-03 | $86,650 |
| 11 | Harry H Lynch Trust | PO BOX 5228, Martinsville, VA 24115-5228 | VA | 1995-08 | $61,509 |
| 12 | Trinity Endowment And Ministries Foundation | 6812 River Rd, Newport News, VA 23607-1848 | VA | 1995-12 | $45,843 |
| 13 | Linville-Edom Ruritan Club Inc | PO BOX 44, Linville, VA 22834-0044 | VA | 1964-01 | $21,259 |
| 14 | Friends Of Caroline Library Inc | Po Box 9, Bowling Green, VA 22427 | VA | 1992-11 | $5,788 |
| 15 | Metropolitan Washington Council For Homeless Veteran Inc | 8796 D Scaramento Dr, Alexandria, VA 22309 | VA | 1996-10 | $394 |
| 16 | Amin-Ad Incorporated Dba Ambassadors Of Mary In The | 5039a Backlick Road Po Box 1437, Annandale, VA 22003 | VA | 1994-07 | $0 |
| 17 | Coordinated Area Transportation Services Inc, Cats | PO BOX 180, Verona, VA 24482-0180 | VA | 1993-04 | $0 |
| 18 | Metro Foundation Of Hampton Roads Inc | PO BOX 13921, Chesapeake, VA 23325-0921 | VA | 1997-12 | $0 |
| 19 | St Stephens Episcopal Church-Adkins | 131 W Davis St, Culpeper, VA 22701-3017 | VA | 1997-04 | $0 |
| 20 | The Lyceum Company Inc | 201 South Washington Street, Alexandria, VA 22314 | VA | 1990-11 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,101 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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