Maxco Trust in United Kingdom, (international)

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Maxco Trust
Employer Identification Number (EIN)980077523
Name of OrganizationMaxco Trust
AddressRickmansworth Herts Wd3 7pb, United Kingdom
ActivitiesGifts, grants, or loans to other organizations, Other religious activities
SubsectionCharitable Organization
Ruling Date06/1991
DeductibilityContributions are not deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2007
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$28,995,437
Amount of Income$27,731,435
Form 990 Revenue Amount$2,391,266
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Christian


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Amount of income in 2007: $27,731,435
This organization: 

 $27,731,435
Other organizations performing similar types of work: 

 $266,106

Assets in 2007: $28,995,437
Maxco Trust: 

 $28,995,437
Other organizations performing similar types of work: 

 $413,935

Expenses in 2007: $8,256,358
This organization: 

 $8,256,358
Other organizations performing similar types of work: 

 $144,402

Income to expenses ratio in 2007: 0.3
Maxco Trust: 

 0.3
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 96.6%
This organization: 

 96.6%
Other organizations performing similar types of work: 

 96.6%

Number of employees in 2007: 2
This organization: 

 2
Other organizations performing similar types of work: 

 2

Employees paid over $50,000 in 2007: 100.0%
Maxco Trust: 

 100.0%
Other organizations performing similar types of work: 

 100.0%

Grants share in income in 2007: 51.8%
This organization: 

 51.8%
Other organizations performing similar types of work: 

 51.8%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$2,640,396$-688,370$-1,135,362$5,440,186$4,567,913$5,765,990$6,515,071$2,391,266
Contributions, gifts, grants, and similar amounts received$909,352$710,293$1,279,776$854,359$955,370$888,474$2,105,068$1,238,092
Contributions to donor advised funds$0$0
Direct public support$909,352$710,293$1,279,776$854,359$955,370$888,474$2,105,068$1,238,092
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$198,913$216,124$158,979$184,040$277,673$173,428$175,390$1,066,378
Dividends and interest from securities$1,567,211$1,377,612$1,416,087$1,667,723$972,887$1,408,218$985,224$230,931
Net rental income or (loss)$1,845$154$0$0$0$0$0$0
Gross rents$1,845$154$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-36,925$-2,992,553$-3,990,205$2,734,064$2,361,982$3,295,871$3,249,389$-144,135
Gross amount from sales of assets other than inventory$30,682,924$24,808,823$24,101,349$25,785,302$31,828,456$27,608,328$31,277,943$25,196,034
Less: cost or other basis and sales expenses$30,719,849$27,801,376$28,091,554$23,051,238$29,466,474$24,312,456$28,028,554$25,340,169
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Total expenses$2,532,406$2,667,616$3,198,685$4,055,462$4,149,862$6,194,308$8,654,703$8,256,358
Program services$2,494,704$2,626,480$3,108,258$3,822,549$3,990,440$6,054,141$8,433,313$7,977,267
Management and general$37,702$41,136$90,427$232,913$159,422$140,166$221,390$279,091
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$32,680,044$28,497,103$27,177,172$31,577,550$33,784,875$30,389,208$32,635,212$26,975,400
Excess or (deficit) for the year$107,990$-3,355,986$-4,334,048$1,384,725$418,051$-428,317$-2,139,632$-5,865,092
Net assets or fund balances at beginning of year$32,572,054$31,853,089$28,497,103$27,177,172$31,577,550$33,784,875$34,774,843$32,635,212
Other changes in net assets or fund balances$0$0$3,014,116$3,015,653$1,789,274$-2,967,349$0$205,279
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$8,256,358$7,977,267$279,091$0
Grants paid from donor advised funds$0
Other grants and allocations$7,977,267
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$120,476$0$120,476$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$33,566$0$33,566$0
Legal fees$9,399$0$9,399$0
Supplies$0$0$0$0
Telephone$1,239$0$1,239$0
Postage and shipping$1,088$0$1,088$0
Occupancy$0$0$0$0
Equipment rental and maintenance$1,753$0$1,753$0
Printing and publications$347$0$347$0
Travel$10,185$0$10,185$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$101,038$0$101,038$0
Balance Sheets
20002001200220032004200520062007
Total assets$35,043,493$30,190,090$29,179,192$33,750,697$36,210,408$32,404,009$34,963,544$28,995,437
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$4,132,421$4,165,845$4,162,694$7,404,532$4,094,581$4,661,701$3,622,240$3,733,487
Accounts receivable less allowance for doubtful accounts$95,413$39,142$26,051$43,437$23,332$23,762$5,692$29,527
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$210,992$1,206,561$889,098$517,426$264,039$110,219$57,669$36,389
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0$0
Investments - publicly-traded securities$31,199,623$25,111,451
Investments - other securities$30,529,267$24,730,805$24,056,002$25,731,723$31,767,702$27,544,524$0$0
Investments - land, buildings, and equipment less accumulated depreciation$15,301$0$0$0$0$0$0$0
Investments - other$60,099$47,737$45,347$53,579$60,754$63,804$78,320$84,583
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$0$0$0$0$0$0$0$0
Total liabilities$2,363,449$1,692,987$2,002,021$2,173,147$2,425,533$2,014,801$2,328,332$2,020,037
Accounts payable and accrued expenses$8,001$11,575$23,144$43,105$31,752$33,828$40,365$21,537
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$2,355,448$1,681,412$1,978,877$2,130,042$2,393,781$1,980,973$2,287,967$0
Other liabilities$0$0$0$0$0$0$0$1,998,500
Total liabilities and net assets/fund balances$35,043,493$30,190,090$29,179,192$33,750,697$36,210,408$32,404,009$34,963,544$28,995,437
Total net assets or fund balances$32,680,044$28,497,103$27,177,172$31,577,550$33,784,875$30,389,208$32,635,212$26,975,400
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
20$50,369$0$0
27$70,106$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings6
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?Yes
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20062
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,441,444$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,066,378$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$230,931$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$144,135$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
19992000200120022003200420052006
Total$2,359,037$2,609,573$2,547,893$3,171,624$2,670,453$2,012,178$2,826,597$3,285,878
Gifts, grants, and contributions received$606,096$886,341$785,418$1,421,783$713,767$871,459$1,016,696$2,118,087
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,752,941$1,723,232$1,762,475$1,749,841$1,956,686$1,140,719$1,809,901$1,167,791
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Maxco TrustRickmansworth Herts Wd3 7pb, United Kingdominternational1991-06$27,731,435
2Church Extension Services Inc1110 N Main St, Goshen, IN 46528-2638IN1964-05$4,223,662
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15Loizeaux Brothers Inc100 S Charles St Ste 1401, Baltimore, MD 21201-2703MD1947-01$0
16Nehemiah Foundation3000 County Rd 42 W Ste 300, Burnsville, MN 55337-4827MN1986-12$0
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18Spirit Of Peace Missionary Baptist Church4300 Belrad Dr, Louisville, KY 40218-3604KY1996-06$0
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Number of organizations performing similar types of work
California4
Colorado3
District of Columbia1
Florida1
Indiana3
Kentucky1
Louisiana1
Maryland1
Maine1
Michigan1
Minnesota2
Missouri1
North Carolina3
North Dakota1
New Hampshire1
New Jersey1
New York2
Ohio1
Oklahoma1
Oregon2
Pennsylvania2
Texas3
Wisconsin1
International1
Total39

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