Keith & Mildred Otterman Scholarship Fund in Mobile, Alabama (AL)

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Keith & Mildred Otterman Scholarship Fund
Employer Identification Number (EIN)352033167
Name of OrganizationKeith & Mildred Otterman Scholarship Fund
In Care of NameRegions Bank
AddressPO BOX 2886, Mobile, AL 36652-2886
ActivitiesOther student aid
SubsectionCharitable Organization
Ruling Date11/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period05/2012
Assets$500,000 to $999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$600,265
Amount of Income$502,900
Form 990 Revenue Amount$24,963
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2012: $502,900 (it was $283,616 in 2011)
Keith & Mildred Otterman Scholarship Fund: 

 $502,900
Other organizations performing similar types of work: 

 $107,200

Assets in 2012: $600,265 (it was $608,967 in 2011)
Keith & Mildred Otterman Scholarship Fund: 

 $600,265
Other organizations performing similar types of work: 

 $441,077

Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$24,963$25,674$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$2
Dividends and interest from securities$14,759
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$10,202
Total expenses and disbursements$34,131$3,755$0$30,038
Compensation of officers, directors, trustees, etc.$4,457
Total operating and administrative expenses$5,784$3,755$1,691
Contributions, gifts, grants paid$28,347
Excess of revenue over expenses and disbursements$-9,168
Net investment income$21,919
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$600,265$603,009
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$122,044
Investments-corporate stock$219,316
Investments-corporate bonds$254,404
Investments-mortgage loans$0
Investments-other$0
Other$4,501
Total liabilities$0
Total liabilities and net assets/fund balances$600,265
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$10,202
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$219
Total credits and payments$464
2012 estimated tax payments and 2011 overpayment credited to 2012$464
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
Overpayment$245
Amount to be credited to 2013 estimated tax$220
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?Yes
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$621,878
Net value of noncharitable-use assets$612,560
Minimum investment return$30,628
Distributable Amount (for 2012)
Distributable amount$30,409
Undistributed Income (for 2012)
Distributable amount for 2012$30,409
Undistributed income for 2012. This amount must be distributed in 2013$28,718
Private Operating Foundations (for 2012)
2012201120102009Total
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
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The City College 21st Century Foundation Inc138th Street And Convent Avenue, New York, NY 10031NY1997-03$86,641,569
2Center For Inquiry Development Fund3965 Rensch Rd, Amherst, NY 14228-2743NY1998-12$10,791,389
3Chapel Hill Training Outreach Project Inc800 Eastowne Dr Ste 105, Chapel Hill, NC 27514-2215NC1993-05$8,975,022
4Ziering Family Foundation6505 Wilshire Blvd Ste 1200, Los Angeles, CA 90048-4960CA1996-06$3,505,573
5Our Lady Of Divine Providence House Of Prayer Foundation Inc711 S Bayview Ave, Clearwater, FL 33759-4251FL1994-08$283,880
6J L Bedsole FoundationPO BOX 1628, Mobile, AL 36633-1628AL1972-10$17,842,987
7Altec-Styslinger Foundation Inc210 Inverness Center Dr, Birmingham, AL 35242-4834AL1998-08$12,150,758
8Jje Charitable Foundation Inc2908 Clairmont Ave S, Birmingham, AL 35205-1014AL1996-11$6,067,816
9The Warren And Sallie Williamson Charitable Trust100 Washington St Ne Ste 200, Huntsville, AL 35801-4851AL1997-11$1,883,334
10Omelia Foundation Charitable Tr Ua 082597 No 47-0076-00-1PO BOX 2886, Mobile, AL 36652-2886AL1997-12$1,179,092
11Clyde B Anderson Family FoundationPO BOX 19768, Birmingham, AL 35219-9768AL1997-09$507,358
12Keith & Mildred Otterman Scholarship FundPO BOX 2886, Mobile, AL 36652-2886AL1998-11$502,900
13The Jurenko Foundation, Jurenko John A Ttee117 Stargate Dr, Madison, AL 35758-3021AL1997-11$482,226
14Marian Gaynor Yanamura Educational Fund IncPO BOX 511, Fairhope, AL 36533-0511AL1997-12$445,517
15Julian T Turner Charitable Trust 47-0072-01-YPO BOX 1628, Mobile, AL 36633-1628AL1998-01$374,252
16Marguerite & Harold Hickey Memorial TrPO BOX 2450, Montgomery, AL 36102-2450AL1997-10$320,087
17Adrian And Marie Downing Education TrPO BOX 469, Brewton, AL 36427-0469AL1996-05$305,553
18Mruz Family Foundation Inc2709 Trevor Dr Se, Huntsville, AL 35802-1251AL1998-01$261,792
19Dennis G Pappas Sr Family Foundation2937 7th Avenue South No 101, Birmingham, AL 35233-2929AL1998-08$218,683
20Nall Foundation119 Euclid Ave, Brimingham, AL 35213-2906AL1997-06$183,264
21Featheringill Foundation1 Metroplex Dr Ste 500, Birmingham, AL 35209-7801AL1998-09$174,163
22Julius E & Ruth J Talton Charitable Tr, Talton Julius E Jr TteePO BOX 799, Selma, AL 36702-0799AL1998-04$161,275
23All-Alabama Academic Team FoundationPO BOX 9, Hamilton, AL 35570-0009AL1997-06$130,766
24Boone Foundation IncPO BOX 2370, Tuscaloosa, AL 35403-2370AL1998-09$106,887
25Ellis Family Foundation7265 Hwy 9 S, Centre, AL 35960AL1997-12$97,397
26John A & Delia T Robert Charitable Trust 2800 Shades Creek Pkwy Ste 125, Birmingham, AL 35209-4526AL1995-12$79,850
27Richard D Hunt Charitable FoundationPO BOX 10566, Birmingham, AL 35296-0001AL1996-05$67,387
28Bissell FoundationPO BOX 380157, Birmingham, AL 35238-0157AL1997-09$53,194
29Dr E Grace Pilot Foundation1055 Hillcrest Road F-1, Mobile, AL 36695-3957AL1997-09$52,902
30Edwaldan Foundation3017 Warrington Rd, Birmingham, AL 35223-2719AL1997-10$49,614
Number of organizations performing similar types of work
Alaska4
Alabama56
Arkansas18
Arizona58
California548
Colorado116
Connecticut78
District of Columbia24
Delaware45
Florida344
Georgia158
Hawaii18
Iowa56
Idaho24
Illinois311
Indiana83
Kansas53
Kentucky40
Louisiana50
Massachusetts115
Maryland116
Maine18
Michigan199
Minnesota100
Missouri76
Mississippi26
Montana9
North Carolina135
North Dakota2
Nebraska43
New Hampshire17
New Jersey210
New Mexico24
Nevada41
New York530
Ohio224
Oklahoma53
Oregon62
Pennsylvania249
Rhode Island33
South Carolina40
South Dakota12
Tennessee47
Texas381
Utah45
Virginia119
Vermont8
Washington86
Wisconsin98
West Virginia9
Wyoming19
International13
Total5,243

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