Lai Family Foundation Inc in Hartland, Wisconsin (WI)
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
| Lai Family Foundation Inc | |
| Employer Identification Number (EIN) | 391892636 |
| Name of Organization | Lai Family Foundation Inc |
| In Care of Name | N C Joseph Lai |
| Address | W302n6117 Spence Rd, Hartland, WI 53029-8725 |
| Activities | School, college, trade school, etc. |
| Subsection | Charitable Organization |
| Ruling Date | 01/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Tax Period | 10/2012 |
| Assets | $500,000 to $999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $638,012 |
| Amount of Income | $130,472 |
| Form 990 Revenue Amount | $43,717 |
| National Taxonomy of Exempt Entities (NTEE) | Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations |
Non-representatives - add comments:
Amount of income in 2012: $130,472 (it was $131,533 in 2011)
| Lai Family Foundation Inc: | $130,472 |
| Other organizations performing similar types of work: | $120,021 |
Assets in 2012: $638,012 (it was $668,867 in 2011)
| This organization: | $638,012 |
| Other organizations performing similar types of work: | $470,342 |
Expenses in 2012: $3,072
| Lai Family Foundation Inc: | $3,072 |
| Other organizations performing similar types of work: | $61,754 |
Income to expenses ratio in 2012: 42.5
| Lai Family Foundation Inc: | 42.5 |
| Other organizations performing similar types of work: | 2.0 |
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 | $-27,784 | $10,143 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $36 | |||
| Dividends and interest from securities | $10,107 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $3,072 | $1,578 | $0 | $1,488 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $3,072 | $1,578 | $1,488 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $-30,856 | |||
| Net investment income | $8,565 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $638,012 | $739,656 |
| Cash - non-interest-bearing | $50,604 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $294,748 | |
| Other | $292,660 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $638,012 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $-37,927 |
| 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 | $86 |
| Total credits and payments | $594 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $594 |
| 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 | $508 |
| Amount to be credited to 2013 estimated tax | $508 |
| 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 | $710,083 |
| Net value of noncharitable-use assets | $699,440 |
| Minimum investment return | $34,972 |
| Distributable Amount (for 2012) | |
| Distributable amount | $34,886 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $34,886 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $33,210 |
| 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 | The Brookby Foundation | 10936 N Port Washington Rd 181, Mequon, WI 53092-5031 | WI | 1995-01 | $26,577,864 |
| 2 | Nelson Family Foundation Inc | PO BOX 365, Prescott, WI 54021-0365 | WI | 1997-07 | $13,675,303 |
| 3 | Seramur Family Foundation Inc | 2026 County Road Hh, Plover, WI 54467-2653 | WI | 1995-06 | $2,492,296 |
| 4 | Herman And Gwen Shapiro Foundation | Local, Madison, WI 53701 | WI | 1996-07 | $2,297,722 |
| 5 | Phoebe R And John D Lewis Foundation | 5205 N Ironwood Rd Ste 211, Milwaukee, WI 53217-4907 | WI | 1995-02 | $1,981,317 |
| 6 | Harley A And Lillian M Butler Foundation | PO BOX 2043, Milwaukee, WI 53201-2043 | WI | 1997-11 | $1,823,056 |
| 7 | Edward A And Lois Brennan Family Foundation | 6052 N Lake Drive Ct, Whitefish Bay, WI 53217-4648 | WI | 1995-06 | $1,672,924 |
| 8 | Strattec Foundation Inc | 101 W Pleasant St Ste 210, Milwaukee, WI 53212-3963 | WI | 1997-10 | $385,543 |
| 9 | The Alice Aber Smith Scholarship Fund | 441 Milwaukee Ave, Burlington, WI 53105-1230 | WI | 1997-12 | $358,389 |
| 10 | Scimitar Foundation Inc | 3000 W Wisconsin Ave, Milwaukee, WI 53208-3950 | WI | 1995-04 | $291,678 |
| 11 | Wallace And Janet Lichtenberg Family Foundation, Lichtenberg Garland G Ttee | N2866 Cth M, Waupun, WI 53963 | WI | 1997-09 | $260,715 |
| 12 | Schwartz Memorial Foundation Trust | PO BOX 2043, Milwaukee, WI 53201-2043 | WI | 1972-12 | $254,332 |
| 13 | Weyco Group Charitable Trust, Wittkowske John F Ttee | PO BOX 1188, Milwaukee, WI 53201-1188 | WI | 1997-08 | $250,523 |
| 14 | Thomas S Kemp Foundation Inc | W 8840 Hwy Cs, Poynette, WI 53955 | WI | 1997-07 | $144,247 |
| 15 | R & M Foundation Inc | 6320 Parkview Rd, Greendale, WI 53129-2154 | WI | 1998-09 | $100,000 |
| 16 | Regal-Beloit Charitable Foundation | 200 State St, Beloit, WI 53511-6254 | WI | 1995-05 | $60,416 |
| 17 | The Lloyd And Patricia Maasch Family Foundation, Maasch Lloyd & Et Al Co-Ttees | 9211 County Road M, Larsen, WI 54947-9736 | WI | 1997-01 | $1,494 |
| 18 | Rofa Foundation Inc, Gawart Chris K Ttee | 411 East Wisconsin Avenue, Milwaukee, WI 53202-4461 | WI | 1997-06 | $321 |
| 19 | Reed Coleman Family Foundation, Bennett Susan Taylor Ttee | 201 Waubesa Street Post Office Box, Madison, WI 53708 | WI | 1997-05 | $1 |
| 20 | Zimmer Wallen & Mooney Foundation Inc | 13400 Bishops Ln Ste 100, Brookfield, WI 53005-6237 | WI | 1998-02 | $1 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,744 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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