Assisi Foundation Of Memphis Inc in Memphis, Tennessee (TN)

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Assisi Foundation Of Memphis Inc
Employer Identification Number (EIN)621558722
Name of OrganizationAssisi Foundation Of Memphis Inc
Address515 Erin Dr, Memphis, TN 38117-4211
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date11/1994
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$228,227,005
Amount of Income$28,717,882
Form 990 Revenue Amount$9,250,236
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Corporate Foundations


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Amount of income in 2013: $28,717,882 (it was $90,038,107 in 2012)
This organization: 

 $28,717,882
Other organizations performing similar types of work: 

 $148,776

Assets in 2013: $228,227,005 (it was $198,788,399 in 2012)
Assisi Foundation Of Memphis Inc: 

 $228,227,005
Other organizations performing similar types of work: 

 $529,345

Expenses in 2013: $10,977,284
This organization: 

 $10,977,284
Other organizations performing similar types of work: 

 $89,524

Income to expenses ratio in 2013: 2.6
Assisi Foundation Of Memphis Inc: 

 2.6
Other organizations performing similar types of work: 

 2.0

Grants share in income in 2013: 0.0%
Assisi Foundation Of Memphis Inc: 

 0.0%
Other organizations performing similar types of work: 

 22.1%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$17,646,870$17,646,870$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$622
Dividends and interest from securities$3,314,139
Gross rents$0
Gross sales price for all assets$25,403,096
Gross profit from sales of goods$0
Other income$25
Other$14,332,084
Total expenses and disbursements$10,977,284$1,278,888$0$10,444,883
Compensation of officers, directors, trustees, etc.$212,000
Pension plans, employee benefits$76,583
Legal fees$2,626
Accounting fees$32,500
Interest$767,855
Depreciation$114,400
Occupancy$0
Travel, conferences, and meetings$18,870
Printing and publications$0
Total operating and administrative expenses$2,327,000$1,278,888$663,912
Contributions, gifts, grants paid$8,650,284
Excess of revenue over expenses and disbursements$6,669,586
Net investment income$16,367,982
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$187,297,002$187,297,002$198,788,399$198,788,398$228,227,005$228,227,005
Cash - non-interest-bearing$0$0$0
Investments-U.S. and state government obligations$94,471,218$0$0
Investments-corporate stock$35,437,547$87,031,251$92,926,845
Investments-corporate bonds$0$29,372,571$19,399,168
Investments-mortgage loans$0$0$0
Investments-other$69,995,011$78,351,132$112,574,048
Other assets$1$0
Total liabilities$5,010,973$3,476,763$2,529,664
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$182,286,029$195,311,636$225,697,341
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$6,023,684$7,221,957$14,332,084
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$160,792$97,571$327,360
Total credits and payments$270,000$124,208$327,360
Current year estimated tax payments and previous year's overpayment credited to current year$270,000$124,208$327,360
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0$0
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Overpayment$26,637$0
Amount to be credited to next year's estimated tax$109,208$26,637$0
Statements Regarding Activities
201120122013
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?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$193,370,996$194,829,438$213,768,110
Net value of noncharitable-use assets$191,906,996$210,561,588
Minimum investment return$9,769,772$9,595,350$10,528,079
Distributable Amount
201120122013
Distributable amount$9,608,980$9,497,779$10,200,719
Undistributed Income
201120122013
Distributable amount for this year$9,608,980$9,497,779$10,200,719
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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
Supplementary Information (for 2013)
Grants approved for future payment$2,178,717
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$622$0
Dividends and interest from securities$3,314,139$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Assisi Foundation Of Memphis Inc515 Erin Dr, Memphis, TN 38117-4211TN1994-11$28,717,882
2Mark And Anla Cheng Kingdon Fund152 W 57th St Fl 50, New York, NY 10019-3310NY1998-01$17,325,014
3Richard D And Lynette S MerillatPO BOX 1525, Pennington, NJ 08534-0686NJ1995-02$11,034,326
4Fiduciary Charitable FoundationPO BOX 55806, Boston, MA 02205-5806MA1990-09$9,556,897
5Avx Kyocera Foundation1 Avx Blvd, Fountain Inn, SC 29644-9039SC1997-09$8,005,498
6Mutual Of America Foundation320 Park Avenue Corporate Tax 8th, New York, NY 10022NY1989-07$3,341,544
7J M Smith Foundation101 W Saint John St Ste 305, Spartanburg, SC 29306-5150SC1996-11$2,961,414
8Comerica Legacy Foundation101 N Main St Ste 100, Ann Arbor, MI 48104-5515MI1989-02$2,898,570
9Johnson-Stillman Family Foundation Tr, Spier Frances D TteeC/O Bauer Keller 21 W 38th St, New York, NY 10018NY1996-12$2,573,431
10New York Community Bank Foundation1400 Old Northern Blvd, Roslyn, NY 11576-2251NY1997-09$1,473,503
11Boston Globe Foundation Inc135 Morrissey Boulevard, Boston, MA 02125-3310MA1981-02$1,436,645
12Olga & Solomon Lipschitz Tr Ua 081794, Olga & Solomon Lipschitz Ttee5116 17th Ave, Brooklyn, NY 11204-1412NY1996-09$1,380,474
13Food Marketing Institute Foundation2345 Crystal Dr Ste 800, Arlington, VA 22202-4813VA1996-12$1,118,185
14Babcox Family Foundation Inc, Babcox Tom B Sr Ttee35450 S Woodland Rd, Moreland Hls, OH 44022-6860OH1995-02$1,076,859
15Hyde Family Charitable FundPO BOX 2459, Appleton, WI 54912-2459WI1996-09$1,060,677
16Elmview Trust FundPO BOX 460, Ellensburg, WA 98926-1915WA1982-07$1,032,210
17Good Samaritan Hospital Foundation Inc520 S 7th St, Vincennes, IN 47591-1038IN1998-01$1,006,491
18Cape Cod Times Needy Fund IncPO BOX 804, Hyannis, MA 02601-0804MA1989-07$970,513
19Daniels Family Foundation100 Everglade Ave, Palm Beach, FL 33480-3718FL1995-01$943,634
20Christian Veterinary Missions Foundation Inc468 Peterson Lake Rd, Collierville, TN 38017-2122TN1997-01$164
Number of organizations performing similar types of work
Alabama2
Arkansas2
California6
Colorado3
Connecticut5
District of Columbia2
Florida11
Georgia4
Iowa2
Illinois4
Indiana6
Kansas3
Kentucky2
Louisiana1
Massachusetts6
Maryland3
Michigan7
Minnesota2
Missouri1
North Carolina3
Nebraska2
New Hampshire2
New Jersey5
New York36
Ohio2
Oklahoma1
Pennsylvania6
Rhode Island1
South Carolina4
South Dakota1
Tennessee2
Texas8
Utah2
Virginia4
Washington2
Wisconsin3
West Virginia1
International1
Total158

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