Jesse Elfers Scholarship Trust No 2 in Madison, Wisconsin (WI)

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Jesse Elfers Scholarship Trust No 2
Employer Identification Number (EIN)426546523
Name of OrganizationJesse Elfers Scholarship Trust No 2
In Care of NameUs Bank Trust Tax Dept
AddressPO BOX 7900, Madison, WI 53707-7900
ActivitiesScholarships (other)
SubsectionCharitable Organization
Ruling Date02/1997
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period01/2014
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$214,231
Amount of Income$118,069
Form 990 Revenue Amount$13,217
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2014: $118,069 (it was $126,997 in 2013)
Jesse Elfers Scholarship Trust No 2: 

 $118,069
Other organizations performing similar types of work: 

 $72,336

Assets in 2014: $214,231 (it was $199,120 in 2013)
This organization: 

 $214,231
Other organizations performing similar types of work: 

 $239,394

Expenses in 2014: $8,921
Jesse Elfers Scholarship Trust No 2: 

 $8,921
Other organizations performing similar types of work: 

 $40,888

Income to expenses ratio in 2014: 13.2
This organization: 

 13.2
Other organizations performing similar types of work: 

 1.4

Grants share in income in 2014: 0.0%
Jesse Elfers Scholarship Trust No 2: 

 0.0%
Other organizations performing similar types of work: 

 0.1%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Expenses for 2014

Analysis of Revenue and Expenses (for 2014)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$24,032$24,028$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$5,360
Gross rents$0
Gross sales price for all assets$112,709
Gross profit from sales of goods$0
Other income$0
Other$18,672
Total expenses and disbursements$8,921$2,793$0$6,050
Compensation of officers, directors, trustees, etc.$3,000
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$750
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$3,921$2,793$1,050
Contributions, gifts, grants paid$5,000
Excess of revenue over expenses and disbursements$15,111
Net investment income$21,235
Adjusted net income$0
Balance Sheets
201220132014
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$199,316$202,893$199,120$215,530$214,231$216,509
Cash - non-interest-bearing$0$0$0
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$193,472$192,549$209,100
Other assets$0$0
Total liabilities$1$1$1
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$199,316$199,120$214,231
Capital Gains and Losses for Tax on Investment Income
201220132014
Capital gain net income$8,078$4,087$18,672
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201220132014
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$210$144$425
Total credits and payments$69$210$144
Current year estimated tax payments and previous year's overpayment credited to current year$69$210$144
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0$0
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$281
Overpayment$66$0
Amount to be credited to next year's estimated tax$0$66$0
Statements Regarding Activities
201220132014
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?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201220132014
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?YesYesYes
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201220132014
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$209,014$208,785$217,309
Net value of noncharitable-use assets$205,653$214,049
Minimum investment return$10,294$10,283$10,702
Distributable Amount
201220132014
Distributable amount$10,084$10,139$10,277
Undistributed Income
201220132014
Distributable amount for this year$10,084$10,139$10,277
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2011 - 2014)
2014201320122011Total
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
Supplementary Information (for 2014)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2014)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$5,360$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Sylvester H Reed Memorial TrustPO BOX 1111, Pflugerville, TX 78691-1111TX1998-01$1,242,927
2Wisconsin Hispanic Scholarship Foundation Inc2997 S 20th St, Milwaukee, WI 53215-3742WI1962-05$1,600,520
3Ruth And Pat Crawford Family Foundation IncPO BOX 7900, Madison, WI 53707-7900WI1997-02$263,643
4The Dorothy And Margaretha Schmidtbauer Foundation Inc21425 Spring St Ste Bldg D, Union Grove, WI 53182-9707WI1997-07$210,539
5Sturgeon Bay Rotary Club Charitable Trust, C-O Bank Of Sturgeon Bay Trust DeptC/O Baylake Bank Trustee 217 N 4th, Sturgeon Bay, WI 54235WI1991-08$206,865
6Westby Norse Scholarship Fund505 W State St, Westby, WI 54667-1246WI1991-04$149,291
7Wisconsin Agc Construction Education Foundation Inc, C-O Lynn E Legault4814 E Broadway, Madison, WI 53716-4141WI1993-02$103,879
8Waupaca High School Scholarship Foundation IncE2325 King Rd, Waupaca, WI 54981-8270WI1994-06$99,531
9Seymour Community School Scholarship TrustPO BOX 67, Seymour, WI 54165-0067WI1994-09$80,086
10The Monches Foundation IncPO BOX 25, North Lake, WI 53064-0025WI1997-12$68,987
11Wisconsin State Telecommunicatons Foundation Inc122 W Washington Ave Ste 1050, Madison, WI 53703-2718WI1965-12$67,459
12Wisconsin Women In Government IncPO BOX 2543, Madison, WI 53701-2543WI1992-03$54,491
13Badger Union High School Endowment Fund Inc, C-O Richard W TorhorstPO BOX 1300, Lake Geneva, WI 53147-6300WI1994-09$46,347
14Friends Of St Patricks IncPo Box 435, Reedsville, WI 54230WI1996-07$23,012
15R W Truscott Family Scholarship FundPO BOX 3038, Milwaukee, WI 53201-3038WI1998-02$12,453
16Cameron Area Scholarship FoundationPo Box 152, Cameron, WI 54822WI1991-11$11,927
17Ronald W Drum Charitable TrPO BOX 10, Manitowoc, WI 54221-0010WI1997-11$11,903
18Wisconsin Academy Of Physician Assistants Foundation Inc563 Carter Court Suite B, Kimberly, WI 54136-2201WI1991-04$9,800
19North Crawford Fine Arts CouncilPo Box 142, Soldiers Grove, WI 54655WI1995-09$6,058
20Clayton Education Foundation IncPo Box 130, Clayton, WI 54004WI1995-09$797
Number of organizations performing similar types of work
Alaska15
Alabama29
Arkansas27
Arizona42
California252
Colorado46
Connecticut69
District of Columbia36
Delaware10
Florida151
Georgia78
Hawaii18
Iowa52
Idaho15
Illinois193
Indiana80
Kansas57
Kentucky48
Louisiana26
Massachusetts102
Maryland74
Maine15
Michigan138
Minnesota61
Missouri93
Mississippi12
Montana14
North Carolina100
North Dakota5
Nebraska30
New Hampshire12
New Jersey147
New Mexico15
Nevada16
New York202
Ohio188
Oklahoma33
Oregon38
Pennsylvania160
Rhode Island22
South Carolina36
South Dakota7
Tennessee42
Texas251
Utah11
Virginia136
Vermont9
Washington68
Wisconsin96
West Virginia21
Wyoming9
International5
Total3,412

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