Merchants Bank Foundation Inc in South Burlington, Vermont (VT)
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 Vermont
| Merchants Bank Foundation Inc | |
| Employer Identification Number (EIN) | 036016628 |
| Name of Organization | Merchants Bank Foundation Inc |
| Address | 275 Kennedy Dr, South Burlington, VT 05403-6785 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 06/1968 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 08/2014 |
| Assets | $1,000,000 to $4,999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $1,283,014 |
| Amount of Income | $257,879 |
| Form 990 Revenue Amount | $232,100 |
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 | $191,536 | $91,536 | $0 | |
| Contributions, gifts, grants, etc., received | $100,000 | |||
| Interest on savings and temporary cash investments | $98 | |||
| Dividends and interest from securities | $34,556 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Other | $56,882 | |||
| Total expenses and disbursements | $190,896 | $9,376 | $0 | $179,287 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $11,609 | $9,376 | $0 | |
| Contributions, gifts, grants paid | $179,287 | |||
| Excess of revenue over expenses and disbursements | $640 | |||
| Net investment income | $82,160 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $1,153,883 | $1,341,750 |
| Cash - non-interest-bearing | $0 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $1,128,531 | |
| Other | $25,352 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $1,153,883 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $56,882 |
| 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 | $1,643 |
| Total credits and payments | $1,280 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $1,280 |
| 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 | $363 |
| 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 | $1,334,864 |
| Net value of noncharitable-use assets | $1,314,840 |
| Minimum investment return | $65,742 |
| Distributable Amount (for 2012) | |
| Distributable amount | $64,099 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $64,099 |
| 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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| Other organizations in Vermont | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Members 1st Credit Union | 10 Browne Ct, Brattleboro, VT 05301-4427 | VT | 1987-02 | $939,641 |
| 2 | Members Advantage Commumity Credit Union | PO BOX 745, Barre, VT 05641-0745 | VT | 2009-04 | $3,538,421 |
| 3 | Memorial Hall Center For The Arts Inc | PO BOX 1720, Wilmington, VT 05363-1720 | VT | 1998-01 | $74,108 |
| 4 | Memorial Sports Center Commission Inc | PO BOX 835, Middlebury, VT 05753-0835 | VT | 1994-10 | $24,571 |
| 5 | Modern Austrian Literature And Culture Association | Waterman Bldg Ste 418-A, Burlington, VT 05405-0001 | VT | 1963-09 | $16,294 |
| 6 | Misasi Foundation Inc | 1148 Route 30, Dorset, VT 05251-9632 | VT | 1999-02 | $768 |
| 7 | Michael Carpilio Fine Arts Tr, John & Deborah Carpilio Ttee | 59 Lamprecht Ln, Barnet, VT 05821-9578 | VT | 2006-07 | $1 |
| 8 | Memphremagog Senior Citizen Housing Inc | PO BOX 259, Lyndonville, VT 05851-0259 | VT | 1988-07 | $596,237 |
| 9 | Mentoring Project Of The Upper Valley Inc | Po Box 237, Bradford, VT 05033 | VT | 2007-09 | $0 |
| 10 | Mentoring Project, Alliance For Lifelong Learning | PO BOX 1122, Brattleboro, VT 05302-1122 | VT | 2001-02 | $297 |
| 11 | Merchants Bank Foundation Inc | 275 Kennedy Dr, South Burlington, VT 05403-6785 | VT | 1968-06 | $257,879 |
| 12 | Merck Forest & Farmland Center | PO BOX 86, Rupert, VT 05768-0086 | VT | 1990-01 | $2,809,383 |
| 13 | Mertens House Inc | 73 River St, Woodstock, VT 05091-1226 | VT | 1984-12 | $9,628,072 |
| 14 | Micah Fund Inc | 487 Kendall Rd, Braintree, VT 05060-8931 | VT | 1983-05 | $797 |
| 15 | Middle House Inc | PO BOX 468, Bellows Falls, VT 05101-0468 | VT | 2000-06 | $23,137 |
| 16 | Middle Valley Polar Bears Inc | Po Box 142, East Randolph, VT 05041 | VT | 1974-02 | $0 |
| 17 | Middlebury Amateur Hockey Association Inc | PO BOX 493, Middlebury, VT 05753-0493 | VT | 1973-12 | $110,243 |
| 18 | Middlebury Area Land Trust | PO BOX 804, Middlebury, VT 05753-0804 | VT | 1988-10 | $171,040 |
| 19 | Middlebury Business Association | PO BOX, Middlebury, VT 05753 | VT | 1995-11 | $123,845 |
| 20 | Middlebury Cemetery Association | PO BOX 944, Middlebury, VT 05753-0944 | VT | 1952-10 | $228,562 |
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