Lafayette River Foundation in Norfolk, 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
- Unrelated Trade or Business Income
- Deductions Not Taken Elsewhere
- Organizations performing similar types of work
Lafayette River Foundation | |
Employer Identification Number (EIN) | 020729969 |
Name of Organization | Lafayette River Foundation |
In Care of Name | Edith G Grandy |
Address | 207 Granby St Ste 303, Norfolk, VA 23510-1825 |
Subsection | Charitable Organization |
Ruling Date | 10/2004 |
Deductibility | Contributions are deductible |
Foundation | Private non-operating foundation |
Organization | Corporation |
Exempt Organization Status | Unconditional Exemption |
Tax Period | 12/2013 |
Assets | $5,000,000 to $9,999,999 |
Income | $5,000,000 to $9,999,999 |
Filing Requirement | 990 - Not required to file (all other) |
Asset Amount | $5,683,673 |
Amount of Income | $6,767,773 |
Form 990 Revenue Amount | $561,643 |
National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations |
Non-representatives - add comments:
Amount of income in 2013: $6,767,773 (it was $3,413,521 in 2012)
Lafayette River Foundation: | $6,767,773 |
Other organizations performing similar types of work: | $105,489 |
Assets in 2013: $5,683,673 (it was $6,138,451 in 2012)
Lafayette River Foundation: | $5,683,673 |
Other organizations performing similar types of work: | $325,460 |
Expenses in 2012: $885,831
This organization: | $885,831 |
Other organizations performing similar types of work: | $49,058 |
Income to expenses ratio in 2012: 7.6
Lafayette River Foundation: | 7.6 |
Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2012: 0.0%
Lafayette River Foundation: | 0.0% |
Other organizations performing similar types of work: | 22.8% |
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 | $494,320 | $495,355 | $0 | |
Contributions, gifts, grants, etc., received | $0 | |||
Interest on savings and temporary cash investments | $44,064 | |||
Dividends and interest from securities | $126,465 | |||
Gross rents | $0 | |||
Gross profit from sales of goods | $0 | |||
Other income | $66,817 | |||
Other | $256,974 | |||
Total expenses and disbursements | $885,831 | $105,860 | $0 | $768,173 |
Compensation of officers, directors, trustees, etc. | $12,000 | |||
Total operating and administrative expenses | $121,831 | $105,860 | $4,173 | |
Contributions, gifts, grants paid | $764,000 | |||
Excess of revenue over expenses and disbursements | $-391,511 | |||
Net investment income | $389,495 | |||
Adjusted net income | $0 |
Balance Sheets (for 2012) | ||
Book Value | Fair Market Value | |
---|---|---|
Total assets | $6,138,451 | $6,550,394 |
Cash - non-interest-bearing | $0 | |
Investments-U.S. and state government obligations | $780,925 | |
Investments-corporate stock | $2,904,269 | |
Investments-corporate bonds | $1,147,864 | |
Investments-mortgage loans | $0 | |
Investments-other | $847,804 | |
Other | $457,589 | |
Total liabilities | $1 | |
Mortgages and other notes payable | $0 | |
Other | $1 | |
Total liabilities and net assets/fund balances | $6,138,451 |
Capital Gains and Losses for Tax on Investment Income (for 2012) | |
Capital gain net income | $256,974 |
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 | $3,895 |
Total credits and payments | $9,000 |
2012 estimated tax payments and 2011 overpayment credited to 2012 | $5,000 |
Exempt foreign organizations-tax withheld at source | $0 |
Tax paid with application for extension of time to file (Form 8868) | $4,000 |
Backup withholding erroneously withheld | $0 |
Any penalty for underpayment of estimated tax | $0 |
Tax due | $0 |
Overpayment | $5,105 |
Amount to be credited to 2013 estimated tax | $5,105 |
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 | $6,588,631 |
Net value of noncharitable-use assets | $6,489,800 |
Minimum investment return | $324,490 |
Distributable Amount (for 2012) | |
Distributable amount | $320,595 |
Undistributed Income (for 2012) | |
Distributable amount for 2012 | $320,595 |
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 |
Unrelated Trade or Business Income (for 2008) | |||
Income | Expenses | Net | |
---|---|---|---|
Total | $-9,469 | $0 | $-9,469 |
Gross receipts or sales less returns and allowances | $0 | $0 | $0 |
Cost of goods sold | $0 | $0 | $0 |
Gross profit | $0 | $0 | $0 |
Capital gain net income | $0 | $0 | $0 |
Net gain | $0 | $0 | $0 |
Capital loss deduction for trusts | $0 | $0 | $0 |
Income (loss) from partnerships and S corporations | $-9,469 | $0 | $-9,469 |
Rent income | $0 | $0 | $0 |
Unrelated debt-financed income | $0 | $0 | $0 |
Interest, annuities, royalties, and rents from controlled organizations | $0 | $0 | $0 |
Investment income of a section 501(c)(7), (9), or (17) organization | $0 | $0 | $0 |
Exploited exempt activity income | $0 | $0 | $0 |
Advertising income | $0 | $0 | $0 |
Other income | $0 | $0 | $0 |
Deductions Not Taken Elsewhere (for 2008) | |
Total deductions | $0 |
Compensation of officers, directors, and trustees | $0 |
Salaries and wages | $0 |
Repairs and maintenance | $0 |
Bad debts | $0 |
Interest | $0 |
Taxes and licenses | $0 |
Charitable contributions | $0 |
Depreciation | $0 |
Depletion | $0 |
Contributions to deferred compensation plans | $0 |
Employee benefit programs | $0 |
Excess exempt expenses | $0 |
Excess readership costs | $0 |
Other deductions | $0 |
Unrelated business taxable income | $-9,469 |
Unrelated business taxable income before net operating loss deduction | $-9,469 |
Net operating loss deduction | $0 |
Unrelated business taxable income before specific deduction | $-9,469 |
Specific deduction | $1,000 |
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Organizations performing similar types of work | |||||
Id | Name | Address | State | Established | Total Income |
---|---|---|---|---|---|
1 | Suntrust Foundation | 919 E Main St Fl 13, Richmond, VA 23219-4622 | VA | 1974-01 | $119,207,230 |
2 | The Richard And Leslie Gilliam Foundation | 650 Peter Jefferson Pkwy Ste 230, Charlottesville, VA 22911-8845 | VA | 2006-06 | $38,062,647 |
3 | Wise Foundation | PO BOX 557, Marshall, VA 20116-0557 | VA | 1999-08 | $11,791,992 |
4 | Scheidel Foundation, Scheidel Herbert W Ttee Et Al | 1220 N Fillmore St Ste 400, Arlington, VA 22201-6501 | VA | 1999-12 | $8,595,635 |
5 | Culp Family Foundation | 8405 Greensboro Dr 7th Fl, Mclean, VA 22102-5104 | VA | 2013-01 | $8,025,033 |
6 | Neall Family Charitable Foundation, Macdonald Rhonda J Ttee | 2071 Chain Bridge Rd Ste 320, Vienna, VA 22182-2622 | VA | 2014-02 | $6,023,457 |
7 | Joan And Morgan Massey Foundation | 5002 Monument Ave, Richmond, VA 23230-3634 | VA | 2015-03 | $5,998,266 |
8 | Reinsch Pierce Family Foundation Inc | 2040 Columbia Pike, Arlington, VA 22204-6236 | VA | 2004-02 | $5,079,571 |
9 | Virginia Institute Of Autism Incorporated | 1414 Westwood Rd, Charlottesvle, VA 22903-5149 | VA | 2001-03 | $4,860,563 |
10 | Lilyhawk Foundation | 999 Waterside Dr, Norfolk, VA 23510-3300 | VA | 2013-02 | $4,661,070 |
11 | Sportsquest Foundation | 1001 Boulders Pkwy Ste 300, Richmond, VA 23225-5512 | VA | 2007-12 | $4,568,795 |
12 | The Mcgue Millhiser Family Trust | PO BOX 1535, Richmond, VA 23218-1535 | VA | 2004-04 | $4,404,355 |
13 | Notzing Foundation | 258 E High St, Charlottesvle, VA 22902-5178 | VA | 2012-09 | $4,131,745 |
14 | Fagus Foundation | PO BOX 1395, Middleburg, VA 20118-1395 | VA | 2008-03 | $3,806,726 |
15 | Volgenau Charitable Foundation | 8300 Greensboro Dr Ste 1025, Mclean, VA 22102-3605 | VA | 2011-07 | $3,805,012 |
16 | Constitution Foundation, Saylor Michael J Ttee | 1861 International Dr, Mclean, VA 22102-4409 | VA | 1999-07 | $3,376,036 |
17 | Vicky Collins Charitiable Foundation Inc | C/O David Sher 3800 N Fairfax Drive, Arlington, VA 22203 | VA | 2005-02 | $3,217,788 |
18 | Vinoskey Family Foundation | 13150 E Lynchburg-Salem Turnpike, Forest, VA 24551-4328 | VA | 2008-02 | $2,740,300 |
19 | Sellier Family Foundation | 3 Clarks Branch Rd, Great Falls, VA 22066-4157 | VA | 2012-02 | $2,610,366 |
20 | Warfield Foundation Inc | 101 W Main Street, Norfolk, VA 23510-1646 | VA | 2008-02 | $2,371,045 |
Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total | 22,395 |
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