George Wells Foundation Ui 125-13172606 in Providence, Rhode Island (RI)

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George Wells Foundation Ui 125-13172606
Employer Identification Number (EIN)046038039
Name of OrganizationGeorge Wells Foundation Ui 125-13172606
In Care of NameFleet Private Clients Group
AddressPO BOX 1802, Providence, RI 02901-1802
SubsectionCharitable Organization
Ruling Date02/2004
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$4,414,694
Amount of Income$2,548,117
Form 990 Revenue Amount$440,823
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Independent Foundations

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Amount of income in 2013: $2,548,117 (it was $5,719,042 in 2012)
George Wells Foundation Ui 125-13172606: 

Other organizations performing similar types of work: 


Assets in 2013: $4,414,694 (it was $4,398,351 in 2012)
This organization: 

Other organizations performing similar types of work: 


Expenses in 2012: $265,476
This organization: 

Other organizations performing similar types of work: 


Income to expenses ratio in 2012: 9.6
George Wells Foundation Ui 125-13172606: 

Other organizations performing similar types of work: 


Grants share in income in 2012: 0.0%
George Wells Foundation Ui 125-13172606: 

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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$438,650$436,950$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$104,828
Gross rents$0
Gross profit from sales of goods$0
Other income$84
Total expenses and disbursements$265,476$28,195$0$224,886
Compensation of officers, directors, trustees, etc.$44,263
Total operating and administrative expenses$62,976$28,195$22,386
Contributions, gifts, grants paid$202,500
Excess of revenue over expenses and disbursements$173,174
Net investment income$408,755
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$4,398,351$4,468,389
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$3,874,859
Investments-corporate bonds$0
Investments-mortgage loans$0
Total liabilities$0
Total liabilities and net assets/fund balances$4,398,351
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$333,738
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$4,088
Total credits and payments$8,324
2012 estimated tax payments and 2011 overpayment credited to 2012$8,324
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$0
Amount to be credited to 2013 estimated tax$4,088
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$4,514,461
Net value of noncharitable-use assets$4,446,740
Minimum investment return$222,337
Distributable Amount (for 2012)
Distributable amount$218,249
Undistributed Income (for 2012)
Distributable amount for 2012$218,249
Undistributed income for 2012. This amount must be distributed in 2013$180,449
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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Kosciusko 21st Century Foundation Inc2170 N Pointe Dr, Warsaw, IN 46582-9043IN1967-11$51,892,952
2The Beall Family Foundation1200 Newport Center Dr Ste 220, Newport Beach, CA 92660-0933CA2001-02$5,367,504
3North Penn Community Health Foundation2506 N Broad St Ste 206, Colmar, PA 18915-9439PA1956-03$4,255,777
4Wem 2000 Foundation, Martin Phillip H TteePO BOX 5628, Minneapolis, MN 55440-5628MN2000-09$2,030,901
5Henry E & Nancy H Bartels Trust Fbo, University Of New HavenPO BOX 187169, Hamden, CT 06518-7020CT1989-04$1,900,735
6Pugdin Memorial Fund P 6162000410 S Dearborn Il1-0117, Chicago, IL 60603-2300IL2000-03$1,622,699
7Lancaster County Partners For Youth IncPO BOX 1023, Lancaster, SC 29721-1023SC1996-10$1,386,899
8Abner F Morison Tr Fund, Bar Harbor Bank & TrustPO BOX 1100, Ellsworth, ME 04605-1100ME1993-03$1,120,833
9Cargill Macmillan Jr Charitable Tr, Martin Phillip H TteePO BOX 5628, Minneapolis, MN 55440-5628MN2000-09$399,725
10Gordon G Wilson Trust Uw Fbo, Covington United10 S Dearborn, Chicago, IL 60603-2300IL2000-01$234,293
11Newportfed Charitable FoundationPO BOX 509, Newport, RI 02840-0500RI2008-06$4,714,053
12Jon L And Beverly A Thompson FoundationPO BOX 1802, Providence, RI 02901-1802RI2006-07$4,007,788
13Hoag Family Charitable FoundationPO BOX 1802, Providence, RI 02901-1802RI2007-10$3,464,762
14Mcquade Family FoundationPO BOX 1802, Providence, RI 02901-1802RI2006-02$3,081,556
15Jeremiah R Van Brunt FundPO BOX 1802, Providence, RI 02901-1802RI2005-10$3,031,768
16Tua Kenneth Mills Charitable TrPO BOX 1802, Providence, RI 02901-1802RI2008-08$2,916,087
17Lydia Collins Deforest Charitable Trust Uw 136 0001208980PO BOX 1802, Providence, RI 02901-1802RI2002-06$2,843,920
18George Wells Foundation Ui 125-13172606PO BOX 1802, Providence, RI 02901-1802RI2004-02$2,548,117
19James E Ward Trust UwPO BOX 1802, Providence, RI 02901-1802RI2012-11$1,930,109
20Helene & Bertram Bernhardt FoundationC/O Samuel D Zurier 55 Dorrance St, Providence, RI 02903RI2006-05$1,569,321
Number of organizations performing similar types of work
District of Columbia107
North Carolina649
North Dakota15
New Hampshire66
New Jersey849
New Mexico78
New York2,454
Rhode Island181
South Carolina141
South Dakota32
West Virginia49
Total20,448 is not associated with, endorsed by, or sponsored by George Wells Foundation Ui 125-13172606 and has no official or unofficial affiliation with George Wells Foundation Ui 125-13172606