Albert And Ethel Herzstein in Houston, Texas (TX)

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Albert And Ethel Herzstein
Employer Identification Number (EIN)746070484
Name of OrganizationAlbert And Ethel Herzstein
In Care of NameL Michael Haitman
Address6131 Westview Dr, Houston, TX 77055-5421
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date01/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$89,052,531
Amount of Income$24,225,906
Form 990 Revenue Amount$8,556,002
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2011: $24,225,906 (it was $11,024,321 in 2010)
Albert And Ethel Herzstein: 

 $24,225,906
Other organizations performing similar types of work: 

 $107,200

Assets in 2011: $89,052,531 (it was $89,101,976 in 2010)
Albert And Ethel Herzstein: 

 $89,052,531
Other organizations performing similar types of work: 

 $441,077

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$8,556,002$7,111,330$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$5,194,727
Gross rents$0
Gross profit from sales of goods$0
Other income$2,005,322
Other$1,355,953
Total expenses and disbursements$4,345,478$365,030$0$3,422,180
Compensation of officers, directors, trustees, etc.$288,000
Total operating and administrative expenses$1,335,431$365,030$412,133
Contributions, gifts, grants paid$3,010,047
Excess of revenue over expenses and disbursements$4,210,524
Net investment income$6,746,300
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$89,052,531$89,052,531
Cash - non-interest-bearing$131,267
Investments-U.S. and state government obligations$1,635,030
Investments-corporate stock$23,459,503
Investments-corporate bonds$109,163
Investments-mortgage loans$0
Investments-other$0
Other$63,717,568
Total liabilities$8,473
Mortgages and other notes payable$0
Other$8,473
Total liabilities and net assets/fund balances$89,044,058
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$1,355,953
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$134,926
Total credits and payments$142,285
2011 estimated tax payments and 2010 overpayment credited to 2011$142,285
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
Overpayment$7,359
Amount to be credited to 2012 estimated tax$7,359
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?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 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$90,356,389
Net value of noncharitable-use assets$89,001,040
Minimum investment return$4,450,052
Distributable Amount (for 2011)
Distributable amount$4,309,209
Undistributed Income (for 2011)
Distributable amount for 2011$4,309,209
Undistributed income for 2011. This amount must be distributed in 2012$3,359,317
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
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$18,478$0$18,478
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$18,478$17$18,478
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$1,748
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$1,748
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$15,730
Unrelated business taxable income before net operating loss deduction$16,730
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$16,730
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The City College 21st Century Foundation Inc138th Street And Convent Avenue, New York, NY 10031NY1997-03$86,641,569
2Center For Inquiry Development Fund3965 Rensch Rd, Amherst, NY 14228-2743NY1998-12$10,791,389
3Chapel Hill Training Outreach Project Inc800 Eastowne Dr Ste 105, Chapel Hill, NC 27514-2215NC1993-05$8,975,022
4Ziering Family Foundation6505 Wilshire Blvd Ste 1200, Los Angeles, CA 90048-4960CA1996-06$3,505,573
5Our Lady Of Divine Providence House Of Prayer Foundation Inc711 S Bayview Ave, Clearwater, FL 33759-4251FL1994-08$283,880
6Hamon Charitable Foundation1925 Lincoln Plz, Dallas, TX 75201-3409TX1997-12$146,527,951
7Kinder FoundationPO BOX 130776, Houston, TX 77219-0776TX1996-12$45,384,144
8Ben And Maytee Fisch Foundation, Fisch Maytee R PresidentPO BOX 6905, Tyler, TX 75711-6905TX1997-12$33,593,614
9Dian Graves Owen Foundation400 Pine St Ste 1000, Abilene, TX 79601-5142TX1998-02$27,497,341
10Albert And Ethel Herzstein6131 Westview Dr, Houston, TX 77055-5421TX1998-01$24,225,906
11Kle FoundationPO BOX 163991, Austin, TX 78716-3991TX1998-08$23,280,658
12J C Ferguson Foundation Inc3800 E 42nd St Ste 409, Odessa, TX 79762-5928TX1997-12$20,440,416
13Ed Foundation816 Congress Ste 1240, Austin, TX 78701-2671TX1997-03$16,569,137
14Mfi FoundationPO BOX 2146, Austin, TX 78768-2146TX1998-11$15,831,683
15Presbyterian Village North Foundation8600 Skyline, Dallas, TX 75243-4198TX1985-08$13,970,624
16Knobloch Family Foundation2411 Stanmore Dr, Houston, TX 77019-3423TX1997-11$13,966,016
17Hext Family Foundation5704 Ponderosa Dr, Odessa, TX 79762-9431TX1998-08$12,992,995
18Hobby Family Foundation2131 San Felipe St, Houston, TX 77019-5620TX1996-03$9,809,547
19J T And Margaret Talkington Charitable Foundation Inc5010 University Ave Ste 433, Lubbock, TX 79413-4429TX1998-01$7,741,732
20C E Doolin Foundation6411 Northaven Rd, Dallas, TX 75230-3015TX1998-09$6,357,157
Number of organizations performing similar types of work
Alaska4
Alabama56
Arkansas18
Arizona58
California548
Colorado116
Connecticut78
District of Columbia24
Delaware45
Florida344
Georgia158
Hawaii18
Iowa56
Idaho24
Illinois311
Indiana83
Kansas53
Kentucky40
Louisiana50
Massachusetts115
Maryland116
Maine18
Michigan199
Minnesota100
Missouri76
Mississippi26
Montana9
North Carolina135
North Dakota2
Nebraska43
New Hampshire17
New Jersey210
New Mexico24
Nevada41
New York530
Ohio224
Oklahoma53
Oregon62
Pennsylvania249
Rhode Island33
South Carolina40
South Dakota12
Tennessee47
Texas381
Utah45
Virginia119
Vermont8
Washington86
Wisconsin98
West Virginia9
Wyoming19
International13
Total5,243

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