Brooklyn Community Foundation in Brooklyn, New York (NY)

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Brooklyn Community Foundation
Employer Identification Number (EIN)113422729
Name of OrganizationBrooklyn Community Foundation
In Care of NameMarilyn Gelber
Address45 Main St Ste 409, Brooklyn, NY 11201-1093
SubsectionCharitable Organization
Ruling Date07/1999
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$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$67,011,982
Amount of Income$25,220,895
Form 990 Revenue Amount$4,498,669
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations

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Amount of income in 2013: $25,220,895 (it was $25,501,315 in 2012)
This organization: 

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Assets in 2013: $67,011,982 (it was $59,914,853 in 2012)
This organization: 

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Expenses in 2012: $5,585,681
This organization: 

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Income to expenses ratio in 2012: 4.5
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Grants share in income in 2012: 45.3%
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Financial snapshot ($)

Revenue for 2012

Expenses 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$5,663,216$3,084,478$0
Contributions, gifts, grants, etc., received$2,563,964
Interest on savings and temporary cash investments$211
Dividends and interest from securities$1,090,215
Gross rents$0
Gross profit from sales of goods$0
Other income$14,861
Total expenses and disbursements$5,585,681$274,575$0$6,430,338
Compensation of officers, directors, trustees, etc.$175,000
Total operating and administrative expenses$2,215,567$274,575$1,847,783
Contributions, gifts, grants paid$3,370,114
Excess of revenue over expenses and disbursements$77,535
Net investment income$2,809,903
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$59,914,853$59,914,853
Cash - non-interest-bearing$250
Investments-U.S. and state government obligations$2,602,811
Investments-corporate stock$30,388,595
Investments-corporate bonds$0
Investments-mortgage loans$0
Total liabilities$3,083,858
Mortgages and other notes payable$0
Total liabilities and net assets/fund balances$56,830,995
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$1,993,965
Net capital loss$0
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$0
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$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?Yes
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?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 2012)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$54,280,570
Net value of noncharitable-use assets$53,466,360
Minimum investment return$2,673,318
Distributable Amount (for 2012)
Distributable amount$2,673,318
Undistributed Income (for 2012)
Distributable amount for 2012$2,673,318
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
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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2Blackstone Charitable Foundation345 Park Avenue, New York, NY 10154-0004NY2008-02$41,447,210
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8John A Hartford Foundation55 E 59th St Fl 16, New York, NY 10022-1713NY1936-11$122,643,101
9The Edna Mcconnell Clark Foundation415 Madison Ave Fl 10, New York, NY 10017-7949NY1969-12$106,135,626
10Merrill Lynch & Co Foundation2 World Financial Ctr Fl C1056, New York, NY 10281-0499NY1951-12$102,369,373
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Number of organizations performing similar types of work
District of Columbia21
North Carolina85
North Dakota3
New Hampshire10
New Jersey139
New Mexico14
New York359
Rhode Island21
South Carolina19
South Dakota6
West Virginia2
Total3,013 is not associated with, endorsed by, or sponsored by Brooklyn Community Foundation and has no official or unofficial affiliation with Brooklyn Community Foundation