Marguerite L Gilmore Charitable Foundation in Duluth, Minnesota (MN)

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Marguerite L Gilmore Charitable Foundation
Employer Identification Number (EIN)262313618
Name of OrganizationMarguerite L Gilmore Charitable Foundation
In Care of NameWells Fargo Bank N A
Address222 W Superior St Ste 200, Duluth, MN 55802-1939
SubsectionEducational Organization
Ruling Date08/2008
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$3,894,773
Amount of Income$1,076,672
Form 990 Revenue Amount$130,057
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


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Amount of income in 2012: $1,076,672 (it was $130,057 in 2011)
This organization: 

 $1,076,672
Other organizations performing similar types of work: 

 $100,876

Assets in 2012: $3,894,773 (it was $3,966,373 in 2011)
Marguerite L Gilmore Charitable Foundation: 

 $3,894,773
Other organizations performing similar types of work: 

 $327,324

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$130,057$130,057$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$106,117
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$23,940
Total expenses and disbursements$254,177$41,006$0$212,797
Compensation of officers, directors, trustees, etc.$51,189
Total operating and administrative expenses$54,177$41,006$12,797
Contributions, gifts, grants paid$200,000
Excess of revenue over expenses and disbursements$-124,120
Net investment income$89,051
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$3,966,373$3,815,965
Cash - non-interest-bearing$57,738
Investments-U.S. and state government obligations$0
Investments-corporate stock$1,839,309
Investments-corporate bonds$1,884,234
Investments-mortgage loans$0
Investments-other$185,092
Total liabilities$0
Total liabilities and net assets/fund balances$3,966,373
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$23,940
Net capital loss$0
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$891
Total credits and payments$640
2011 estimated tax payments and 2010 overpayment credited to 2011$640
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
Tax due$251
Amount to be credited to 2012 estimated tax$0
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?No
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$4,021,844
Net value of noncharitable-use assets$3,961,520
Minimum investment return$198,076
Distributable Amount (for 2011)
Distributable amount$197,185
Undistributed Income (for 2011)
Distributable amount for 2011$197,185
Undistributed income for 2011. This amount must be distributed in 2012$174,083
Private Operating Foundations (for 2011)
2011201020092008Total
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
1Virginia Museum Of Fine Arts Foundation200 N Boulevard, Richmond, VA 23220-4007VA1977-02$93,372,848
2Baltimore School For The Arts Fdn Inc712 Cathedral St, Baltimore, MD 21201-5210MD1980-07$4,217,959
3Overture Development Corporation201 State St, Madison, WI 53703-2214WI2001-08$91
4Commonwealth Fund For Ket Inc600 Cooper Dr, Lexington, KY 40502-1669KY1995-07$7,182,656
5Friends Of The Cleveland School Of The ArtsPO BOX 18265, Cleveland, OH 44118-0265OH1984-02$2,646,876
6Boston Arts Academy Foundation Inc174 Ipswich St, Boston, MA 02215-3515MA1999-11$2,247,730
7International Folk Art FoundationPO BOX 8807, Santa Fe, NM 87504-8807NM1953-05$1,759,188
8Marguerite L Gilmore Charitable Foundation222 W Superior St Ste 200, Duluth, MN 55802-1939MN2008-08$1,076,672
9Friends Of Hopital Albert Schweitz Er Haiti6739 Reynolds Street First Floor, Pittsburgh, PA 15206-4511PA2000-02$916,992
10Laguardia High School Parents Association Inc100 Amsterdam Ave, New York, NY 10023-6406NY2001-12$646,367
11Cobb Energy Performing Arts Centre Foundation Inc2 Galleria Pkwy Se, Atlanta, GA 30339-5938GA2005-01$589,938
12Buffalo Niagara Convention & Visitors Bureau Foundation617 Main St Ste 200, Buffalo, NY 14203-1400NY2002-11$504,188
13Constellation Charitable Foundation161 First St 2nd Flr West, Cambridge, MA 02142-1211MA2002-12$291,755
14Burlington City Arts Foundation Inc149 Church St, Burlington, VT 05401-8429VT1998-03$251,087
15Community Arts In Schools Inc1223 Central Pkwy, Cincinnati, OH 45214-2812OH2001-04$175,988
16Earl L And Corinne A Otto Cultural Center Endowment Tr, Woodtrust Asset Management Ttee181 2nd St S, Wisc Rapids, WI 54494-4100WI2008-02$170,676
17Ambrosiana Foundation Inc300 5th St Ne Ste 250, Washington, DC 20002-5806DC2006-04$169,299
18Leadership Childrens Foundation835 W Warner Rd Ste 101-236, Gilbert, AZ 85233-7284AZ2000-04$155,836
19Casey Lee Ball Foundation53973 Polk St, Coachella, CA 92236-3816CA1994-07$109,305
20Owatonna Arts Center Foundation435 Garden View Lane, Owatonna, MN 55060MN2003-06$41,061
Number of organizations performing similar types of work
Arizona2
California7
District of Columbia1
Florida6
Georgia4
Idaho1
Illinois3
Indiana3
Kansas1
Kentucky2
Massachusetts4
Maryland2
Maine1
Michigan1
Minnesota3
North Carolina1
North Dakota1
New Mexico2
New York8
Ohio3
Oklahoma1
Oregon2
Pennsylvania1
Tennessee1
Texas2
Utah2
Virginia2
Vermont1
Washington3
Wisconsin4
West Virginia1
Total76

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