William And Karin Banks Foundation Inc in Monterey, 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
William And Karin Banks Foundation Inc | |
Employer Identification Number (EIN) | 010758677 |
Name of Organization | William And Karin Banks Foundation Inc |
In Care of Name | William F Banks |
Address | 2205 Big Lonely Ln, Monterey, VA 24465-2218 |
Subsection | Charitable Organization |
Ruling Date | 05/2003 |
Deductibility | Contributions are deductible |
Foundation | Private non-operating foundation |
Organization | Corporation |
Exempt Organization Status | Unconditional Exemption |
Tax Period | 12/2014 |
Assets | $5,000,000 to $9,999,999 |
Income | $1,000,000 to $4,999,999 |
Filing Requirement | 990 - Not required to file (all other) |
Asset Amount | $6,362,748 |
Amount of Income | $2,797,460 |
Form 990 Revenue Amount | $430,754 |
National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations |
Non-representatives - add comments:
Amount of income in 2014: $2,797,460 (it was $2,138,891 in 2012)
William And Karin Banks Foundation Inc: | $2,797,460 |
Other organizations performing similar types of work: | $103,138 |
Assets in 2014: $6,362,748 (it was $6,017,765 in 2012)
This organization: | $6,362,748 |
Other organizations performing similar types of work: | $338,623 |
Expenses in 2012: $311,229
This organization: | $311,229 |
Other organizations performing similar types of work: | $46,867 |
Income to expenses ratio in 2012: 9.0
William And Karin Banks Foundation Inc: | 9.0 |
Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 0.0%
This organization: | 0.0% |
Other organizations performing similar types of work: | 79.6% |
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 | $387,492 | $387,492 | $0 | |
Contributions, gifts, grants, etc., received | $0 | |||
Interest on savings and temporary cash investments | $217,399 | |||
Dividends and interest from securities | $110,493 | |||
Gross rents | $0 | |||
Gross profit from sales of goods | $0 | |||
Other income | $0 | |||
Other | $59,600 | |||
Total expenses and disbursements | $311,229 | $13,858 | $0 | $292,859 |
Compensation of officers, directors, trustees, etc. | $0 | |||
Total operating and administrative expenses | $32,229 | $13,858 | $13,859 | |
Contributions, gifts, grants paid | $279,000 | |||
Excess of revenue over expenses and disbursements | $76,263 | |||
Net investment income | $373,634 | |||
Adjusted net income | $0 |
Balance Sheets (for 2012) | ||
Book Value | Fair Market Value | |
---|---|---|
Total assets | $6,017,765 | $6,486,697 |
Cash - non-interest-bearing | $0 | |
Investments-U.S. and state government obligations | $3,896,940 | |
Investments-corporate stock | $2,120,825 | |
Investments-corporate bonds | $0 | |
Investments-mortgage loans | $0 | |
Investments-other | $0 | |
Total liabilities | $0 | |
Total liabilities and net assets/fund balances | $6,017,765 |
Capital Gains and Losses for Tax on Investment Income (for 2012) | |
Capital gain net income | $59,600 |
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 | $3,736 |
Total credits and payments | $4,160 |
2012 estimated tax payments and 2011 overpayment credited to 2012 | $4,160 |
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 | $0 |
Overpayment | $424 |
Amount to be credited to 2013 estimated tax | $424 |
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 | $6,251,736 |
Net value of noncharitable-use assets | $6,157,960 |
Minimum investment return | $307,898 |
Distributable Amount (for 2012) | |
Distributable amount | $304,162 |
Undistributed Income (for 2012) | |
Distributable amount for 2012 | $304,162 |
Undistributed income for 2012. This amount must be distributed in 2013 | $290,297 |
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 | Quantitative Foundation | 0 Court Sq, Charlottesvle, VA 22902-5144 | VA | 2009-09 | $11,220,691 |
2 | Reinhart Foundation | 7501 Boulder View Dr, Richmond, VA 23225-4062 | VA | 2000-09 | $10,670,995 |
3 | Ruth And Hal Launders Charitable Tr | 459 Herndon Pkwy Box 546 Ste 14, Herndon, VA 20170-6222 | VA | 2009-02 | $7,610,650 |
4 | Bella Vista Foundation, Marcia & Marvin Gilliam Jr Fdn | 16104 Colleton Ct, Bristol, VA 24202-4861 | VA | 2010-06 | $6,804,276 |
5 | Windward Foundation | 999 Waterside Dr, Norfolk, VA 23510-3300 | VA | 2013-02 | $6,729,218 |
6 | Honey Foundation | 2001 Maywill St Ste 100, Richmond, VA 23230-3236 | VA | 2011-01 | $6,392,281 |
7 | Sauer-Lewis Foundation | 204 S Erlwood Ct, Richmond, VA 23229-7665 | VA | 2003-10 | $5,015,795 |
8 | The Farkas Family Foundation | 1720 Browns Gap Tpke, Charlottesvle, VA 22901-6312 | VA | 2001-01 | $4,494,763 |
9 | Agena Foundation | 111 Mann Dr, Chesapeake, VA 23322-5213 | VA | 2011-04 | $3,727,164 |
10 | Andrew Peter George Memorial Charitable Trust | 1048 Carper St, Mc Lean, VA 22101-2105 | VA | 2014-09 | $3,076,982 |
11 | William And Karin Banks Foundation Inc | 2205 Big Lonely Ln, Monterey, VA 24465-2218 | VA | 2003-05 | $2,797,460 |
12 | Gottwald Foundation | PO BOX 955, Goochland, VA 23063-0955 | VA | 2013-02 | $2,218,885 |
13 | Little Family Foundation | 2325 Dulles Corner Blvd Ste 670, Herndon, VA 20171-4683 | VA | 2012-04 | $2,005,223 |
14 | Willowcroft Foundation | 38906 Mount Gilead Rd, Leesburg, VA 20175-6721 | VA | 2009-12 | $1,973,297 |
15 | Keenan Family Foundation | 1750 Tysons Blvd Fl 12, Mclean, VA 22102-4232 | VA | 2012-06 | $1,936,364 |
16 | Mcmunn Family Foundation | 40936 Spectacular Bid Pl, Leesburg, VA 20176-7198 | VA | 2010-03 | $1,928,867 |
17 | T Sherwin Cook Foundation | 203 Archway Ct Ste B, Lynchburg, VA 24502-3605 | VA | 2000-07 | $1,517,074 |
18 | Thorney Point Foundation | 6677 Richmond Hwy, Alexandria, VA 22306-6647 | VA | 2003-02 | $1,364,529 |
19 | Sirad Foundation | 21570 Schoolhouse Ct, Broadlands, VA 20148-5018 | VA | 1999-12 | $1,230,236 |
20 | William A Cooke Foundation | PO BOX 462, Louisa, VA 23093-0462 | VA | 2001-04 | $1,215,250 |
Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total | 20,448 |
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