Twin Towers Fund in New York, New York (NY)

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Twin Towers Fund
Employer Identification Number (EIN)311811573
Name of OrganizationTwin Towers Fund
AddressNew York, NY 10017
Tax Period2001
Asset Amount$51,099,640
Amount of Income$158,920,554
Form 990 Revenue Amount$158,920,554
National Taxonomy of Exempt Entities (NTEE)Public Safety, Disaster Preparedness and Relief: Disaster Preparedness and Relief Services


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Amount of income in 2001: $158,920,554
This organization: 

 $158,920,554
Other organizations performing similar types of work: 

 $461,284

Assets in 2001: $51,099,640
This organization: 

 $51,099,640
Other organizations performing similar types of work: 

 $273,002

Expenses in 2001: $107,820,914
Twin Towers Fund: 

 $107,820,914
Other organizations performing similar types of work: 

 $487,611

Income to expenses ratio in 2001: 1.5
This organization: 

 1.5
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2001: 99.9%
This organization: 

 99.9%
Other organizations performing similar types of work: 

 86.1%

Number of employees in 2001: 7
Twin Towers Fund: 

 7
Other organizations performing similar types of work: 

 5

Employees paid over $50,000 in 2001: 28.6%
This organization: 

 28.6%
Other organizations performing similar types of work: 

 28.6%

Grants share in income in 2001: 99.7%
Twin Towers Fund: 

 99.7%
Other organizations performing similar types of work: 

 31.3%

Financial snapshot for 2001 ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001
Total revenue$158,920,554
Contributions, gifts, grants, and similar amounts received$158,446,579
Contributions to donor advised funds
Direct public support$158,446,579
Indirect public support$0
Government contributions (grants)$0
Program service revenue including government fees and contracts$0
Membership dues and assessments$0
Interest on savings and temporary cash investments$473,975
Dividends and interest from securities$0
Net rental income or (loss)$0
Gross rents$0
Less: rental expenses$0
Other investment income$0
Gain or (loss) from sales of assets other than inventory$0
Gross amount from sales of assets other than inventory$0
Less: cost or other basis and sales expenses$0
Net income or (loss) from special events and activities$0
Gross revenue$0
Less: direct expenses other than fundraising expenses$0
Gross profit or (loss) from sales of inventory$0
Gross sales of inventory, less returns and allowances$0
Less: cost of goods sold$0
Other revenue$0
Total expenses$107,820,914
Program services$107,670,350
Management and general$73,310
Fundraising$77,254
Payments to affiliates$0
Net assets or fund balances at end of year$51,099,640
Excess or (deficit) for the year$51,099,640
Net assets or fund balances at beginning of year$0
Other changes in net assets or fund balances$0
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$107,820,914$107,670,350$73,310$77,254
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$107,285,000
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$168,987$123,360$21,969$23,658
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$217,141$158,513$28,228$30,400
Pension plan contributions not included above$3,676$2,684$478$514
Employee benefits not included above$17,141$12,513$2,228$2,400
Payroll taxes$26,391$19,265$3,431$3,695
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$23,642$14,185$2,364$7,093
Other expenses not covered above$78,936$54,830$14,612$9,494
Balance Sheets
2001
Total assets$51,110,980
Cash - non-interest-bearing$0
Savings and temporary cash investments$50,915,686
Accounts receivable less allowance for doubtful accounts$0
Pledges receivable less allowance for doubtful accounts$72,000
Grants receivable$0
Receivables from current and former officers, directors, trustees, and key employees$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$28,844
Investments - publicly-traded securities
Investments - other securities$0
Investments - land, buildings, and equipment less accumulated depreciation$94,450
Investments - other$0
Land, buildings, and equipment less accumulated depreciation$0
Other assets, including program-related investments$0
Total liabilities$11,340
Accounts payable and accrued expenses$11,340
Grants payable$0
Deferred revenue$0
Loans from officers, directors, trustees, and key employees$0
Tax-exempt bond liabilities$0
Mortgages and other notes payable$0
Other liabilities$0
Total liabilities and net assets/fund balances$51,110,980
Total net assets or fund balances$51,099,640
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001
Total revenue$158,920,554
Total revenue, gains, and other support per audited financial statements$159,471,962
Other expenses$551,408
Net unrealized gains on investments$0
Donated services and use of facilities$551,408
Recoveries of prior year grants$0
Other$0
Other revenue$0
Investment expenses$0
Other$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001
Total expenses$107,820,914
Total expenses and losses per audited financial statements$108,372,322
Other revenue$551,408
Donated services and use of facilities$551,408
Prior year adjustments$0
Losses$0
Other$0
Other expenses$0
Investment expenses$0
Other$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20067
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$473,975$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$473,975$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$67,463$777$0
$50,885$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
2000
Total$0
Gifts, grants, and contributions received$0
Membership fees received$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0
Net income from unrelated business activities not included above$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0
Other income$0
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Twin Towers FundNew York, NY 10017NY$158,920,554
2Oklahoma City Disaster Relief Fund IncPO BOX 1146, Oklahoma City, OK 73101-1146OK1995-07$4,104,536
3Islamic Medical Association Of North America Inc, International Institute Of Islamic Medicine500 Vonderburg Dre 203, Brandon, FL 33511FL1999-06$470,202
4Operation Respond Institute Inc401 Constitution Avenue Ne, Washington, DC 20002DC1995-08$461,284
5The Valley Interfaith Coalition To RecoveryGrand Forks, ND 58201ND$186,837
6Business & Industry Council For Emergency Planning & PreparednessPO BOX 7942, Van Nuys, CA 91409-7942CA1989-10$19,738
7Southeast Alaska Avalanche Center2150 Glacier Hwy Apt B, Juneau, AK 99801-7806AK2000-12$128
8Postal Employees Relief FundPO BOX 7630, Woodbridge, VA 22195-7630VA1990-03$1,736,560
9American Logistics Aid Network1657 A South Highland Ave, Baltimore, MD 21224MD2008-03$247,377
10Environmental Emergency Services Inc-Chemung And Steuben Counties100 N Main St Ste 104, Elmira, NY 14901-2901NY1982-05$37,071
Number of organizations performing similar types of work
Alaska1
California3
District of Columbia1
Florida2
Georgia1
Illinois1
Massachusetts1
Maryland1
North Carolina2
North Dakota1
New York2
Oklahoma2
Texas1
Virginia2
Wisconsin1
Total22

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