Gloucester Fund Inc in Gloucester, Massachusetts (MA)

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Gloucester Fund Inc
Employer Identification Number (EIN)043521016
Name of OrganizationGloucester Fund Inc
In Care of NameBarrett S Pett
Address45 Middle Street No 2, Gloucester, MA 01930-5736
SubsectionCharitable Organization
Ruling Date11/2001
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$58,489
Amount of Income$178,417
Form 990 Revenue Amount$166,000
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Fund Raising and/or Fund Distribution

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Amount of income in 2013: $178,417 (it was $256,464 in 2012)
Gloucester Fund Inc: 

Other organizations performing similar types of work: 


Assets in 2013: $58,489 (it was $142,029 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2013: $249,540
Gloucester Fund Inc: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2013: 0.7
Gloucester Fund Inc: 

Other organizations performing similar types of work: 


Grants share in income in 2013: 74.8%
This organization: 

Other organizations performing similar types of work: 


Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue$86,355$94,647$166,000
Contributions, gifts, grants, and similar amounts received$86,212$91,080$124,195
Program service revenue including government fees and contracts$0$0$1,170
Membership dues and assessments$0$0$0
Investment income$143$102$83
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$0$3,465$9,572$40,552
Gross income from gaming$0$0$0$0
Gross income from fundraising events$0$5,065$52,969
Less: direct expenses from gaming and fundraising events$0$1,600$12,417
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$90,638$53,153$249,540
Total net assets$31,628$73,122$58,489
Excess/Deficit for the year$-4,283$41,494$-83,540
Net assets or fund balances at beginning of year$35,911$31,628$142,029
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$58,489
Balance Sheets
Total assets$31,628$73,122$142,029$58,489
Total liabilities$0$0$0$0
Net assets or fund balances$31,628$73,122$58,489
Other Information
Did the organization engage in any significant activity not previously reported to the IRS?No
Were any significant changes made to the organizing or governing documents?No
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?No
Amount of political expenditures, direct or indirect$0
Did the organization file Form 1120-POL for this year?No
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?No
Total amount involved$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?No
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$589,674
Subtotal Support$680,772
Gifts, grants, contributions, and membership fees received$680,772
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$91,098
Total Support$681,692
Public Support$680,772
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$920
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$77,051
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Number of organizations performing similar types of work
District of Columbia3
North Carolina6
North Dakota1
New Hampshire2
New Jersey8
New York16
Rhode Island2
South Carolina2
Total227 is not associated with, endorsed by, or sponsored by Gloucester Fund Inc and has no official or unofficial affiliation with Gloucester Fund Inc