Luc Gates Foundation Inc in Enosburg Falls, Vermont (VT)
Table of contents:
| Luc Gates Foundation Inc | |
| Employer Identification Number (EIN) | 043377424 |
| Name of Organization | Luc Gates Foundation Inc |
| In Care of Name | Kittell Branagar & Sargent |
| Address | 2245 Samsonville Rd, Enosburg Falls, VT 05450 |
| Activities | Described in section 170(b)1)(a)(vi) of the Code, Scholarships (other) |
| Subsection | Charitable Organization |
| Ruling Date | 07/1997 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $100,000 to $499,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $142,911 |
| Amount of Income | $59,484 |
| Form 990 Revenue Amount | $34,660 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards |
Non-representatives - add comments:
Amount of income in 2013: $59,484 (it was $58,046 in 2012)
| This organization: | $59,484 |
| Other organizations performing similar types of work: | $41,680 |
Assets in 2013: $142,911 (it was $127,048 in 2012)
| This organization: | $142,911 |
| Other organizations performing similar types of work: | $65,579 |
Expenses in 2013: $18,797
| Luc Gates Foundation Inc: | $18,797 |
| Other organizations performing similar types of work: | $24,470 |
Income to expenses ratio in 2013: 3.2
| Luc Gates Foundation Inc: | 3.2 |
| Other organizations performing similar types of work: | 0.5 |
Grants share in income in 2013: 28.8%
| Luc Gates Foundation Inc: | 28.8% |
| Other organizations performing similar types of work: | 9.0% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $28,319 | $32,699 | $34,660 |
| Contributions, gifts, grants, and similar amounts received | $1,780 | $562 | $9,967 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $339 | $600 | $2,562 |
| Gain/Loss from sale of assets other than inventory | $-1,169 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $27,369 | $27,500 | $20,164 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $48,674 | $52,847 | $44,988 |
| Less: direct expenses from gaming and fundraising events | $21,305 | $25,347 | $24,824 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $4,037 | $1,967 |
| Total expenses | $17,628 | $12,320 | $18,797 |
| Total net assets | $106,669 | $127,048 | $142,911 |
| Excess/Deficit for the year | $10,691 | $20,379 | $15,863 |
| Net assets or fund balances at beginning of year | $95,978 | $106,669 | $127,048 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $127,048 | $142,911 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $106,669 | $127,048 | $142,911 |
| Total liabilities | $0 | $0 | $0 |
| Net assets or fund balances | $106,669 | $127,048 | $142,911 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $246,933 |
| Subtotal | $246,933 |
| Gifts, grants, contributions, and membership fees received | $12,309 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $234,624 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $0 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Less | $0 |
| Amounts received from disqualified persons | $0 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $248,346 |
| Public support | $246,933 |
| Subtotal | $1,413 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $1,413 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Us-Central Asia Education Foundation | 124 U St Nw, Washington, DC 20001-1606 | DC | 2007-10 | $4,838,252 |
| 2 | Subsea Tieback Scholarship Fund | 5418 Woodbury St, Fulshear, TX 77441-4139 | TX | 2007-10 | $101,112 |
| 3 | Tom Mcmahon Construction Scholarship Fund | 4441 S Abilene Cir, Aurora, CO 80015-1047 | CO | 2006-11 | $18,033 |
| 4 | Rowland Foundation Inc | PO BOX 88, S Londonderry, VT 05155-0088 | VT | 2008-12 | $6,603,835 |
| 5 | Vermont Student Development Fund Inc | PO BOX 2000, Winooski, VT 05404-2601 | VT | 2000-12 | $5,419,943 |
| 6 | Roselli Fam Scholarship Tr | C/O Cfsg 316 N Main St, Barre, VT 05641 | VT | 2008-06 | $1,503,936 |
| 7 | Ronald N Terrill Memorial Fund Inc, Terrill Fund | PO BOX 632, Morrisville, VT 05661-0632 | VT | 1965-03 | $177,056 |
| 8 | Music Composition Online Mentoring Program Inc | 382 Hercules Driv, Colchester, VT 05446-5807 | VT | 2002-01 | $116,089 |
| 9 | Young Tradition Vermont Inc | Po Box 613, Fairfax, VT 05454 | VT | 2010-03 | $103,362 |
| 10 | Sias University Foundation | 3 Mendon View Drive, Mendon, VT 05701 | VT | 2014-09 | $80,458 |
| 11 | The Bartenders Open Inc | Po Box 1641, Wilmington, VT 05363 | VT | 2011-05 | $58,173 |
| 12 | Woodstock Area Rotary Charitable Fund Inc | PO BOX 581, Woodstock, VT 05091-0581 | VT | 2001-02 | $56,592 |
| 13 | Warren And Jessie Mitchell Scholarship Fund | PO BOX 120, Newport, VT 05855-0120 | VT | 2012-03 | $49,095 |
| 14 | Sae Vermont Beta Scholarships Inc | 82 Pamela Ct, Williston, VT 05495-9542 | VT | 2002-03 | $32,508 |
| 15 | Jessica Bolognani Scholarship Fund Inc | PO BOX 944, Jacksonville, VT 05342-0944 | VT | 2012-09 | $24,726 |
| 16 | Vermont Student Opportunity Scholarship Fund Inc | PO BOX 232, Williston, VT 05495 | VT | 1998-12 | $17,300 |
| 17 | Rachel Buck Vincent Fund Inc | 163 Morey Rd, Sutton, VT 05867-9632 | VT | 2001-03 | $15,684 |
| 18 | Vermont Teacher Diversity Scholarship Program Inc | 150 Colchester Ave, Burlington, VT 05401-1422 | VT | 2009-10 | $2,423 |
| 19 | Rutland High School Class Of 1965 | 3295 Us Rt 7, Pittsford, VT 05763-9485 | VT | 2008-10 | $37 |
| 20 | Abdoljavad Mohaghegh Educational Foundation Inc | 294 Stonybrook Dr, Williston, VT 05495-7402 | VT | 2008-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 23,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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