Draupner Ring Foundation Inc in Southport, Connecticut (CT)

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Draupner Ring Foundation Inc
Employer Identification Number (EIN)061487307
Name of OrganizationDraupner Ring Foundation Inc
In Care of NameA Van H Bernhard
Address281 Pequot Ave, Southport, CT 06890-1360
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date10/1997
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000 to $24,999
Income$10,000 to $24,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$21,991
Amount of Income$10,110
Form 990 Revenue Amount$2,007
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $10,110 (it was $4,002 in 2012)
Draupner Ring Foundation Inc: 

 $10,110
Other organizations performing similar types of work: 

 $120,160

Assets in 2013: $21,991 (it was $24,587 in 2012)
Draupner Ring Foundation Inc: 

 $21,991
Other organizations performing similar types of work: 

 $450,518

Expenses in 2012: $431
This organization: 

 $431
Other organizations performing similar types of work: 

 $61,287

Income to expenses ratio in 2012: 23.5
This organization: 

 23.5
Other organizations performing similar types of work: 

 7.3

Grants share in income in 2012: 98.0%
Draupner Ring Foundation Inc: 

 98.0%
Other organizations performing similar types of work: 

 8.9%

Financial snapshot ($)

Revenue 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$3,470$496$0
Contributions, gifts, grants, etc., received$3,400
Interest on savings and temporary cash investments$0
Dividends and interest from securities$250
Gross rents$0
Gross profit from sales of goods$0
Other income$246
Total expenses and disbursements$431$431$0$0
Compensation of officers, directors, trustees, etc.$0
Total operating and administrative expenses$431$431$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$3,039
Net investment income$65
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$24,587$34,246
Cash - non-interest-bearing$3,400
Investments-U.S. and state government obligations$0
Investments-corporate stock$12,590
Investments-corporate bonds$0
Investments-mortgage loans$0
Investments-other$0
Other$8,597
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$24,587
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$0
Net capital loss$-426
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
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$1
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?Yes
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$31,623
Net value of noncharitable-use assets$31,140
Minimum investment return$1,557
Distributable Amount (for 2012)
Distributable amount$1,556
Undistributed Income (for 2012)
Distributable amount for 2012$1,556
Undistributed income for 2012. This amount must be distributed in 2013$1,556
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
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
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2Center For Inquiry Development Fund3965 Rensch Rd, Amherst, NY 14228-2743NY1998-12$11,160,441
3Chapel Hill Training Outreach Project Inc800 Eastowne Dr Ste 105, Chapel Hill, NC 27514-2215NC1993-05$8,132,078
4Ziering Family Foundation6505 Wilshire Blvd Ste 1200, Los Angeles, CA 90048-4960CA1996-06$1,265,969
5Our Lady Of Divine Providence House Of Prayer Foundation Inc711 S Bayview Ave, Clearwater, FL 33759-4251FL1994-08$1,144,703
6Draper Foundation, Oconnell Douglas K Ttee682 Main St, Winsted, CT 06098-1515CT1998-06$24,548,895
7Bullfrogs And Butterflies Foundation Tr, Bottomley Bruce Ttee30 Lost District Dr, New Canaan, CT 06840-2004CT1998-01$3,442,310
8R Hahn Foundation24 Partridge Ln, Weston, CT 06883-2440CT1998-05$3,168,874
9Phoenix Foundation IncOne American Row, Hartford, CT 06102CT1997-09$1,703,150
10David & Karen Pecker Foundation27 Boulder Brook Rd, Greenwich, CT 06830-3514CT1998-02$1,447,379
11Robert G And Marguerite M Derx Foundation, Mcredmond Eugene R TteePO BOX 578, Litchfield, CT 06759-0578CT1997-10$1,382,557
12Gordon F Linke And Jocelyn B Linke Foundation Inc116 Eleven Levels Rd, Ridgefield, CT 06877-3009CT1997-08$1,242,598
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Number of organizations performing similar types of work
Alaska3
Alabama54
Arkansas18
Arizona59
California546
Colorado120
Connecticut79
District of Columbia27
Delaware43
Florida350
Georgia158
Hawaii18
Iowa57
Idaho23
Illinois317
Indiana81
Kansas53
Kentucky41
Louisiana50
Massachusetts113
Maryland112
Maine18
Michigan202
Minnesota97
Missouri73
Mississippi27
Montana8
North Carolina155
North Dakota2
Nebraska42
New Hampshire19
New Jersey213
New Mexico23
Nevada42
New York524
Ohio206
Oklahoma52
Oregon60
Pennsylvania239
Rhode Island33
South Carolina40
South Dakota12
Tennessee49
Texas377
Utah46
Virginia120
Vermont7
Washington88
Wisconsin89
West Virginia9
Wyoming19
International12
Total5,225

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