Gunston Hall Regents Fund in Lorton, Virginia (VA)

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Gunston Hall Regents Fund
Employer Identification Number (EIN)521284368
Name of OrganizationGunston Hall Regents Fund
In Care of NameLena Mcallister
Address10709 Gunston Rd, Lorton, VA 22079-3901
ActivitiesMuseum, zoo, planetarium, etc., Library
SubsectionCharitable Organization
Ruling Date06/1983
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$5,032,212
Amount of Income$2,205,494
Form 990 Revenue Amount$352,700
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: History Museums


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Amount of income in 2012: $2,205,494
Gunston Hall Regents Fund: 

 $2,205,494
Other organizations performing similar types of work: 

 $84,165

Assets in 2012: $5,032,212
This organization: 

 $5,032,212
Other organizations performing similar types of work: 

 $304,153

Expenses in 2002: $795,012
Gunston Hall Regents Fund: 

 $795,012
Other organizations performing similar types of work: 

 $795,012

Income to expenses ratio in 2002: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 10.7

Expenses allocated to program services in 2002: 50.3%
This organization: 

 50.3%
Other organizations performing similar types of work: 

 56.5%

Number of employees in 2002: 13
This organization: 

 13
Other organizations performing similar types of work: 

 13

Employees paid over $50,000 in 2002: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 11.1%

Grants share in income in 2002: 63.2%
This organization: 

 63.2%
Other organizations performing similar types of work: 

 77.6%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$1,519,973$857,278$456,772
Contributions, gifts, grants, and similar amounts received$966,076$462,761$288,536
Contributions to donor advised funds
Direct public support$966,076$462,761$288,536
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$83,305$75,720$72,756
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$0$0$11,496
Dividends and interest from securities$98,037$43,263$10,761
Net rental income or (loss)$3,477$500$0
Gross rents$3,477$500$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$-25,628$-81,537$-57,810
Gross amount from sales of assets other than inventory$286,522$436,051$412,706
Less: cost or other basis and sales expenses$312,150$517,588$470,516
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$83,459$87,436$41,574
Gross sales of inventory, less returns and allowances$196,903$176,454$127,525
Less: cost of goods sold$113,444$89,018$85,951
Other revenue$311,247$269,135$89,459
Total expenses$1,121,901$2,018,958$795,012
Program services$804,779$1,731,044$400,174
Management and general$233,754$287,496$394,838
Fundraising$83,368$418$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$4,366,694$3,044,906$2,906,572
Excess or (deficit) for the year$398,072$-1,161,680$-338,240
Net assets or fund balances at beginning of year$6,731,079$4,366,694$3,044,906
Other changes in net assets or fund balances$-2,762,457$-160,108$199,906
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$795,012$400,174$394,838$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
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$210,549$210,549$0$0
Pension plan contributions not included above$36,287$36,287$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$13,568$13,568$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$16,040$0$16,040$0
Legal fees$0$0$0$0
Supplies$12,391$0$12,391$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$11,670$11,670$0$0
Printing and publications$22,873$0$22,873$0
Travel$0$0$0$0
Conferences, conventions, and meetings$91,230$91,230$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$11,442$0$11,442$0
Other expenses not covered above$368,962$36,870$332,092$0
Balance Sheets
200020012002
Total assets$4,366,694$3,444,906$2,906,572
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$896,138$297,113$179,644
Accounts receivable less allowance for doubtful accounts$233,437$175,055$196,606
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$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$0$0
Inventories for sale or use$108,516$110,398$102,942
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$1,921,791$1,675,418$1,248,924
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$184,178$170,988$1,178,456
Other assets, including program-related investments$1,022,634$1,015,934$0
Total liabilities$0$400,000$0
Accounts payable and accrued expenses$0$0$0
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$400,000$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$4,366,694$3,444,906$2,906,572
Total net assets or fund balances$4,366,694$3,044,906$2,906,572
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$1,519,973$857,278$456,772
Total revenue, gains, and other support per audited financial statements$1,345,880$771,142$742,629
Other expenses$-174,093$-71,090$285,857
Net unrealized gains on investments$-287,537$-160,108$199,906
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$113,444$89,018$85,951
Other revenue$0$15,046$0
Investment expenses$0$0$0
Other$0$15,046$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$1,121,901$2,018,958$795,012
Total expenses and losses per audited financial statements$1,235,345$2,092,930$880,963
Other revenue$113,444$89,018$85,951
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$113,444$89,018$85,951
Other expenses$0$15,046$0
Investment expenses$0$0$0
Other$0$15,046$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?Yes
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?Yes
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, 200613
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$87,757$-31,285$111,764
Program service revenue
Program service revenue 1000000$000$0$26,291
Program service revenue 2000000$000$0$46,465
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)$557$0
Dividends and interest from securities000000$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)$21,700$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$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-57,810$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventoryGift, novelty, and souvenir stores$16,76500$0$24,809
Other revenueCaterers$70,992Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$4,268$14,199
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
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 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
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
199920002001
Total$1,273,998$1,401,993$838,578
Gifts, grants, and contributions received$925,641$966,076$462,761
Membership fees received$0$0$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$222,024$280,300$253,774
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$91,918$98,037$43,263
Net income from unrelated business activities not included above$26,372$44,941$49,805
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$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$0$0
Other income$8,043$12,639$28,975
Lobbying Expenditures by Electing Public Charities (for 2002)
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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,474,935
Contributions, Gifts, Grants and Other Similar Amounts$1,156,501
Program Service Revenue$91,998
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$48,402
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$106,115
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $1,937,599
Less: cost or other basis and sales expenses (Securities / Other)$0 / $1,831,484
Gain or (loss) (Securities / Other)$0 / $106,115
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$57,300
Gross sales of inventory, less returns and allowances$142,474
Less: cost of goods sold$85,174
Miscellaneous Revenue$14,619
Statement of Functional Expenses (for 2011)
Total functional expenses$701,788
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$154,402
Payroll taxes$11,799
Professional fundraising services$0
Other$535,587
Balance Sheet (for 2011)
Total assets$5,241,651
Total liabilities$4,687
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$4,687
Total net assets or fund balances$5,236,964
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$3,778,825
Gifts, grants, contributions, and membership fees received$3,528,020
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$250,805
Gross receipts from related activities, etc.$1,181,547
Unrelated Trade or Business Income (for 2009)
IncomeExpensesNet
Total$0$6,076$-590
Gross receipts or sales less returns and allowances$4,424$0$0
Cost of goods sold$3,932$0$0
Gross profit$492$0$492
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$0$0$0
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$4,994$6,076$-1,082
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2009)
Total deductions$0
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$0
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$0
Unrelated business taxable income before net operating loss deduction$-590
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-590
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Gore Place Society52 Gore St, Waltham, MA 02453-6866MA1946-10$8,600,637
2Foundation Of The American Academy Of Ophthalmology655 Beach St, San Francisco, CA 94109-1342CA1980-09$5,672,484
3Gunston Hall Regents Fund10709 Gunston Rd, Lorton, VA 22079-3901VA1983-06$2,205,494
4Hiram Township Historical Society IncPo Box 1775, Hiram, OH 44234OH1973-11$77,224
5Lahaina Restoration Foundation120 Dickenson St, Lahaina, HI 96761-1224HI1964-11$1,439,957
6Amistad America Inc746 Chapel St Ste 300, New Haven, CT 06510-3102CT1998-08$1,290,674
7Madison Historical Society IncPO BOX 17, Madison, CT 06443-0017CT1962-12$1,119,063
8Military Vehicle Technology Foundation208 College St, Mountain View, CA 94040-1614CA1998-10$849,176
9Laura Ingalls Wilder Home Association3068 Highway A, Mansfield, MO 65704-8104MO1960-09$660,989
10Monroe County Heritage Museum IncP O Box 1637, Monroeville, AL 36461AL1998-04$625,417
11Poplar Grove Foundation Inc10200 Us Highway 17, Wilmington, NC 28411-6854NC1996-02$588,499
12Asian American Writers Workshop Inc16 W 32nd St Ste 10a, New York, NY 10001-3814NY1993-08$533,906
13Historical And Cultural Society Of Clay County202 1st Ave N, Moorhead, MN 56560-1985MN1956-03$504,417
14Early Music America Inc801 Vinial St Ste 300, Pittsburgh, PA 15212-5177PA1988-08$438,056
15Golden Ball Tavern TrustPO BOX 223, Weston, MA 02493-0001MA1965-02$404,308
16Hearst Castle Preservation FoundationPO BOX 192955, San Francisco, CA 94119-2955CA1992-07$236,182
17Grand Traverse Lighthouse MuseumPO BOX 43, Northport, MI 49670-0043MI1987-01$228,631
18Lea County Museum Inc103 S Love St, Lovington, NM 88260-4218NM1998-02$170,944
19Beavertail Lighthouse Museum AssnPO BOX 83, Jamestown, RI 02835-0083RI1994-06$156,743
20Berlin Airlift Historical FoundationPO BOX 782, Farmingdale, NJ 07727-0782NJ1991-12$149,115
Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas3
Arizona5
California15
Colorado3
Connecticut3
District of Columbia1
Florida10
Georgia5
Hawaii1
Iowa2
Idaho1
Illinois7
Indiana10
Kansas2
Louisiana2
Massachusetts4
Maryland1
Maine4
Michigan12
Minnesota2
Missouri7
Mississippi1
Montana3
North Carolina6
Nebraska4
New Hampshire1
New Jersey1
New Mexico1
New York6
Ohio12
Oklahoma5
Oregon1
Pennsylvania8
Rhode Island1
Tennessee2
Texas10
Utah2
Virginia8
Vermont2
Washington2
Wisconsin5
West Virginia2
Total188

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