Peggy And Steve Fossett Foundation in Chicago, Illinois (IL)

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Peggy And Steve Fossett Foundation
Employer Identification Number (EIN)204521801
Name of OrganizationPeggy And Steve Fossett Foundation
Address401 S La Salle St Ste 200, Chicago, IL 60605-2999
SubsectionCharitable Organization
Ruling Date01/2007
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$20,693,330
Amount of Income$5,317,874
Form 990 Revenue Amount$459,422
National Taxonomy of Exempt Entities (NTEE)Science and Technology Research Institutes, Services: Marine Science and Oceanography


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Amount of income in 2012: $5,317,874 (it was $459,422 in 2011)
Peggy And Steve Fossett Foundation: 

 $5,317,874
Other organizations performing similar types of work: 

 $221,028

Assets in 2012: $20,693,330 (it was $20,714,392 in 2011)
Peggy And Steve Fossett Foundation: 

 $20,693,330
Other organizations performing similar types of work: 

 $119,391

Financial snapshot ($)

Revenue for 2011

Expenses for 2011

Assets for 2011

Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$459,422$236,144$0
Contributions, gifts, grants, etc., received$380,419
Interest on savings and temporary cash investments$114,936
Dividends and interest from securities$253,744
Gross rents$0
Gross profit from sales of goods$0
Other income$56,658
Total expenses and disbursements$1,318,697$98,792$0$1,218,721
Compensation of officers, directors, trustees, etc.$100,423
Total operating and administrative expenses$374,197$98,792$274,221
Contributions, gifts, grants paid$944,500
Excess of revenue over expenses and disbursements$-859,275
Net investment income$137,352
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$20,714,392$18,615,087
Cash - non-interest-bearing$4,456
Investments-U.S. and state government obligations$0
Investments-corporate stock$13,377,678
Investments-corporate bonds$4,891,078
Investments-mortgage loans$0
Investments-other$0
Other$2,441,180
Total liabilities$0
Total liabilities and net assets/fund balances$20,714,392
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$0
Net capital loss$-346,335
Excise Tax Based on Investment Income (for 2011)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$1,374
Total credits and payments$2,596
2011 estimated tax payments and 2010 overpayment credited to 2011$2,596
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$1,222
Amount to be credited to 2012 estimated tax$1,222
Statements Regarding Activities (for 2011)
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 2011 or the taxable year beginning in 2011?Yes
Statements Regarding Activities for Which Form 4720 May Be Required (for 2011)
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 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011?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 2011)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$20,086,294
Net value of noncharitable-use assets$19,785,000
Minimum investment return$989,250
Distributable Amount (for 2011)
Distributable amount$0
Undistributed Income (for 2011)
Distributable amount for 2011$0
Undistributed income for 2011. This amount must be distributed in 2012$0
Private Operating Foundations (for 2011)
2011201020092008Total
The lesser of the adjusted net income or the minimum investment return$1$0$0$0$1
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$1$0$0$0$1
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
1Harbor Branch Oceanographic Institution Foundation Inc5600 N Us Highway 1, Fort Pierce, FL 34946-7331FL1977-05$18,271,638
2The Beacon Institute Inc1 Park Ln, Beacon, NY 12508-2307NY2004-03$3,198,253
3Consortium For Ocean Leadership Inc1201 New York Ave Nw Ste 420, Washington, DC 20005-6108DC1995-01$160,569,618
4Peggy And Steve Fossett Foundation401 S La Salle St Ste 200, Chicago, IL 60605-2999IL2007-01$5,317,874
5Great Lakes Observing System Regional Association229 Nickels Arc, Ann Arbor, MI 48104-2409MI2008-09$1,737,571
6Marine Applied Research And Exploration1230 Brickyard Cove Rd 101, Richmond, CA 94801-4187CA2004-01$1,407,074
7Bristol Bay Science & Research InstitutePO BOX 1464, Dillingham, AK 99576-1464AK1999-09$1,054,801
8North Pacific Marine Science Foundation1900 W Emerson Pl Ste 205, Seattle, WA 98119-1649WA1993-06$999,266
9Penobscot East Resource Center IncPO BOX 27, Stonington, ME 04681-0027ME2004-04$807,430
10Gulf Of Maine Lobster Foundation IncPO BOX 523, Kennebunk, ME 04043-0523ME2001-01$757,967
11Central Caribbean Marine Institute IncPO BOX 1461, Princeton, NJ 08542-1461NJ1999-04$752,650
12Northwest Straits Marine Conservation Foundation1155 N State St Ste 402, Bellingham, WA 98225-5024WA2002-09$749,765
13Gulf Marine Institute Of Technology IncPO BOX 776, Gulf Breeze, FL 32562-0776FL1997-04$747,805
14Pacific Shellfish Institute120 State Avenue Ne142, Olympia, WA 98501-1131WA2004-10$534,438
15Medical Foundation For The Stdy Of The Envir & Hum Bdy Char Tr 060789, Littenberg Richard L Ttee44-427 Kaneohe Bay Dr, Kaneohe, HI 96744-2611HI1990-03$514,207
16Sylvia Earle Alliance100 Pine St Ste 1550, San Francisco, CA 94111-5117CA2008-05$386,018
17Oceanic Conservation OrganizationPO BOX 465, Rio Hondo, TX 78583-0465TX2004-01$376,065
18Ecosystem Solutions Inc130 Calhoun St, Edgewater, MD 21037-1637MD2006-03$259,303
19Florida Environmental Research Institute IncPO BOX 292397, Tampa, FL 33687-2397FL1999-02$174,719
20Center For Research On The Changing Earth System10211 Wincopin Cir Suite 240, Columbia, MD 21044-3405MD2002-10$168,247
Number of organizations performing similar types of work
Alaska3
Alabama2
Arizona1
California24
Colorado2
Connecticut2
District of Columbia1
Delaware2
Florida20
Georgia3
Hawaii10
Illinois3
Massachusetts5
Maryland3
Maine3
Michigan4
Minnesota1
Montana1
North Carolina1
New Hampshire2
New Jersey4
New York6
Oklahoma1
Oregon3
Rhode Island1
Texas3
Virginia5
Washington10
Wisconsin1
Total127

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