Foundation For Underwater Research And Education Inc, International Submarine Races in Brunswick, Maine (ME)

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Foundation For Underwater Research And Education Inc, International Submarine Races
Employer Identification Number (EIN)521652248
Name of OrganizationFoundation For Underwater Research And Education Inc
Secondary NameInternational Submarine Races
In Care of NameNancy Hussey
Address18 Juniper Road, Brunswick, ME 04011-3418
ActivitiesOther instruction and training
SubsectionEducational Organization
Ruling Date05/1991
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 Period2012
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$31,265
Amount of Income$56,812
Form 990 Revenue Amount$56,812

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Financial snapshot ($)

Revenue for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$56,812
Contributions, Gifts, Grants and Other Similar Amounts$26,700
Program Service Revenue$27,115
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0
Income from investment of tax-exempt bond proceeds$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$2,997
Gross sales of inventory, less returns and allowances$4,575
Less: cost of goods sold$1,578
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$36,674
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Balance Sheet (for 2011)
Total assets$31,265
Total liabilities$0
Total net assets or fund balances$31,265
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$327,442
Gifts, grants, contributions, and membership fees received$172,867
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$4,575
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$150,000
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
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