Patten Foundation in Newport News, 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
- Other organizations in Virginia
| Patten Foundation | |
| Employer Identification Number (EIN) | 546053958 |
| Name of Organization | Patten Foundation |
| Address | 12350 Jefferson Ave Ste 300, Newport News, VA 23602-6956 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 12/1964 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 12/2012 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $500,000 to $999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,955,942 |
| Amount of Income | $965,265 |
| Form 990 Revenue Amount | $7,564 |
Non-representatives - add comments:
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 | $171,410 | $21,410 | $0 | |
| Contributions, gifts, grants, etc., received | $150,000 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $12,380 | |||
| Gross rents | $6,616 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $2,414 | |||
| Total expenses and disbursements | $70,860 | $4,910 | $0 | $65,750 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $6,210 | $4,910 | $1,100 | |
| Contributions, gifts, grants paid | $64,650 | |||
| Excess of revenue over expenses and disbursements | $100,550 | |||
| Net investment income | $16,500 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,955,942 | $1,983,077 |
| Cash - non-interest-bearing | $93,678 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $76,163 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $297,792 | |
| Other | $1,488,309 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $1,955,942 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $2,414 |
| 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 | $330 |
| Total credits and payments | $415 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $200 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $215 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $85 |
| Amount to be credited to 2013 estimated tax | $85 |
| 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 | $1,905,419 |
| Net value of noncharitable-use assets | $1,876,840 |
| Minimum investment return | $93,842 |
| Distributable Amount (for 2012) | |
| Distributable amount | $93,512 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $93,512 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $48,920 |
| 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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| Other organizations in Virginia | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Patrick Henry College | 10 Patrick Henry Cir, Purcellville, VA 20132-3197 | VA | 2000-02 | $17,970,040 |
| 2 | Patrick Henry College Foundation | Ten Patrick Henry Circle, Purcellville, VA 20132 | VA | 2001-08 | $1,118,435 |
| 3 | Patrick Henry Community College Educational Foundation Inc | 645 Patriot Ave, Martinsville, VA 24112-6693 | VA | 1982-08 | $2,750,977 |
| 4 | Patrick Henry High School Band Boosters Inc | 2102 Grandin Rd Sw, Roanoke, VA 24015-3528 | VA | 1986-11 | $63,930 |
| 5 | Patrick Henry Memorial Foundation, B T Corisl | 1250 Red Hill Rd, Brookneal, VA 24528-3302 | VA | 1979-07 | $1,261,678 |
| 6 | Patrick Henry Retirement Center Inc | 5145 Kings Mountain Rd, Collinsville, VA 24078-1811 | VA | 2005-09 | $5,000 |
| 7 | Patrick Henry School Boosters Assoc | PO BOX 4251, Roanoke, VA 24015-0251 | VA | 1963-10 | $162,004 |
| 8 | Patrick Parks And Recreation Assoc | PO BOX 506, Stuart, VA 24171-0506 | VA | 1980-06 | $103,810 |
| 9 | Patrick Springs Volunteer Fire Department Inc | PO BOX 121, Patrick Spgs, VA 24133-0121 | VA | 2007-08 | $83,006 |
| 10 | Patrick-Henry Volunteer Fire Department | 3125 County Line Rd, Patrick Spgs, VA 24133-3006 | VA | 2007-11 | $332,959 |
| 11 | Patten Foundation | 12350 Jefferson Ave Ste 300, Newport News, VA 23602-6956 | VA | 1964-12 | $965,265 |
| 12 | Pau Group | Old Keene Mill Rd Suite B, Burke, VA 22015 | VA | 2009-04 | $0 |
| 13 | Paul And Rose Carter Foundation | 16062 Gold Cup Ln, Paeonian Spgs, VA 20129-1831 | VA | 2009-07 | $931,212 |
| 14 | Paul D Camp Community College Foundation | PO BOX 737, Franklin, VA 23851-0737 | VA | 1980-11 | $808,645 |
| 15 | Paul D Elswick Foundation | PO BOX 61, Big Rock, VA 24603-0061 | VA | 2007-03 | $100,000 |
| 16 | Paul H Cale Elementary School Pto, Cale Pto | 1757 Avon Street Extended, Charlottesville, VA 22902 | VA | 2008-03 | $25,060 |
| 17 | Paul Stefan Foundation Of Our Ladyof Guadalupe | PO BOX 754, Locust Grove, VA 22508-0754 | VA | 2007-02 | $534,795 |
| 18 | Paul W Cronin Charitable Tr, Cronin John P Ttee | 1900 Gallows Rd Ste 700, Tysons Corner, VA 22182-4098 | VA | 1998-06 | $8,017 |
| 19 | Paula Dunn Ministries Inc | 107 Trinity Ct, Lynchburg, VA 24502-5264 | VA | 2000-04 | $50,512 |
| 20 | Paulson Charitable Foundation Inc | 602 N Edgewood St, Arlington, VA 22201-1932 | VA | 2006-09 | $167,506 |
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