Parkersburg Area Community Foundation in Parkersburg, West Virginia (WV)

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Parkersburg Area Community Foundation
Employer Identification Number (EIN)556027764
Name of OrganizationParkersburg Area Community Foundation
In Care of NameJUDY SJOSTEDT
AddressPO BOX 1762, Parkersburg, WV 26102-1762
Websitehttp://WWW.PACFWV.COM
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date10/1965
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period2011
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$23,650,907
Amount of Income$4,702,421
Form 990 Revenue Amount$4,702,421
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2011: $4,702,421
Parkersburg Area Community Foundation: 

 $4,702,421
Other organizations performing similar types of work: 

 $15,920,161

Assets in 2011: $23,650,907
This organization: 

 $23,650,907
Other organizations performing similar types of work: 

 $61,917,824

Expenses in 2007: $2,022,316
This organization: 

 $2,022,316
Other organizations performing similar types of work: 

 $5,535,383

Income to expenses ratio in 2007: 2.3
Parkersburg Area Community Foundation: 

 2.3
Other organizations performing similar types of work: 

 1.9

Expenses allocated to program services in 2007: 78.8%
Parkersburg Area Community Foundation: 

 78.8%
Other organizations performing similar types of work: 

 87.6%

Number of employees in 2007: 5
Parkersburg Area Community Foundation: 

 5
Other organizations performing similar types of work: 

 10

Employees paid over $50,000 in 2007: 20.0%
This organization: 

 20.0%
Other organizations performing similar types of work: 

 37.5%

Grants share in income in 2007: 59.5%
Parkersburg Area Community Foundation: 

 59.5%
Other organizations performing similar types of work: 

 66.7%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$1,957,665$1,758,067$1,406,358$1,836,364$6,926,088$3,173,394$3,356,221$4,702,421
Contributions, gifts, grants, and similar amounts received$1,310,753$1,488,029$1,071,931$1,472,866$6,304,024$2,533,159$2,275,776$2,795,748
Contributions to donor advised funds$436,515$846,049
Direct public support$1,310,753$1,488,029$1,071,931$1,472,866$6,304,024$2,533,159$1,839,261$1,949,699
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$53,473$38,081$25,528$13,458$29,159$346,916$396,019$402,149
Dividends and interest from securities$291,438$260,635$257,938$227,703$348,714$233,637$279,025$377,425
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$6,903$6,950$7,966$6,970$9,255$0$0
Gain or (loss) from sales of assets other than inventory$290,198$-52,904$-9,324$525$51,243$18,382$221,198$878,626
Gross amount from sales of assets other than inventory$290,198$0$0$525$51,243$18,382$221,198$878,626
Less: cost or other basis and sales expenses$0$52,904$9,324$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$11,803$17,323$53,335$113,846$185,978$32,045$184,203$248,473
Total expenses$755,816$864,479$914,833$724,065$1,033,740$2,279,345$1,678,294$2,022,316
Program services$550,296$596,401$699,704$535,940$704,099$1,912,607$1,257,800$1,592,819
Management and general$171,756$230,661$170,171$151,451$279,226$310,608$360,817$367,198
Fundraising$33,764$37,417$44,958$36,674$50,415$56,130$59,677$62,299
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$8,924,819$8,816,265$9,496,465$11,524,859$17,373,608$18,925,477$23,406,612$23,650,907
Excess or (deficit) for the year$1,201,849$893,588$491,525$1,112,299$5,892,348$894,049$1,677,927$2,680,105
Net assets or fund balances at beginning of year$8,701,029$8,924,819$8,816,265$9,496,465$11,524,859$17,373,608$18,925,477$23,406,612
Other changes in net assets or fund balances$-978,059$-1,002,142$188,675$916,095$-43,599$657,820$2,803,208$-2,435,810
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,022,316$1,592,819$367,198$62,299
Grants paid from donor advised funds$667,346
Other grants and allocations$925,473
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$82,400$0$41,200$41,200
Compensation of former officers, directors, key employees, etc.$0$0$0$0
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)$0$0$0$0
Salaries and wages of employees not included above$132,206$0$132,206$0
Pension plan contributions not included above$3,944$0$3,944$0
Employee benefits not included above$0$0$0$0
Payroll taxes$18,263$0$18,263$0
Professional fundraising fees$0$0$0$0
Accounting fees$10,750$0$10,750$0
Legal fees$0$0$0$0
Supplies$4,665$0$4,665$0
Telephone$3,395$0$3,395$0
Postage and shipping$8,202$0$0$8,202
Occupancy$0$0$0$0
Equipment rental and maintenance$2,357$0$2,357$0
Printing and publications$12,095$0$0$12,095
Travel$8,965$0$8,965$0
Conferences, conventions, and meetings$4,682$0$4,682$0
Interest$0$0$0$0
Depreciation, depletion, etc.$3,320$0$3,320$0
Other expenses not covered above$134,253$0$133,451$802
Balance Sheets
20002001200220032004200520062007
Total assets$9,260,246$9,155,134$9,761,960$11,845,104$17,708,600$19,473,009$24,070,437$24,347,676
Cash - non-interest-bearing$985,873$825,067$741,139$704,052$1,327,310$629,051$160,803$400,774
Savings and temporary cash investments$0$0$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$0$3,000$0$541$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$86,043$88,553$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$209$93
Investments - publicly-traded securities$22,385,881$22,145,290
Investments - other securities$0$0$0$0$0$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$12,634$10,916$13,651$9,901$9,058$5,487$0$0
Investments - other$8,140,044$8,224,599$8,920,928$11,041,826$16,279,064$18,838,324$1,518,533$1,793,861
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$5,011$7,658
Other assets, including program-related investments$121,695$91,552$199$231$93,168$147$0$0
Total liabilities$335,427$338,869$265,495$320,245$334,992$547,532$663,825$696,769
Accounts payable and accrued expenses$15,955$4,927$5,279$2,399$9,464$26,706$37,943$21,120
Grants payable$319,472$331,197$260,216$317,846$325,528$520,826$625,882$675,649
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$2,745$0$0$0$0$0$0
Total liabilities and net assets/fund balances$9,260,246$9,155,134$9,761,960$11,845,104$17,708,600$19,473,009$24,070,437$24,347,676
Total net assets or fund balances$8,924,819$8,816,265$9,496,465$11,524,859$17,373,608$18,925,477$23,406,612$23,650,907
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$1,957,665$1,758,067$1,406,358$1,836,364$6,926,088$3,173,394$3,356,221$4,702,421
Total revenue, gains, and other support per audited financial statements$979,606$749,022$1,588,083$2,744,493$7,210,511$3,821,959$5,433,654$2,266,611
Other expenses$-978,059$-1,009,045$181,725$916,095$291,393$657,820$2,077,433$-2,435,810
Net unrealized gains on investments$-978,059$-1,002,142$188,675$916,095$291,393$657,820$2,077,433$-2,435,810
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$-6,903$-6,950$0$0$0$0$0
Other revenue$0$0$0$7,966$6,970$9,255$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$7,966$6,970$9,255$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$755,816$864,479$914,833$724,065$1,033,740$2,279,345$1,678,294$2,022,316
Total expenses and losses per audited financial statements$755,816$864,479$914,833$724,065$1,033,740$2,279,345$1,678,294$2,022,316
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$80,000$2,400$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings25
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?No
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?No
Does the organization have a written conflict of interest policy?Yes
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?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?Yes
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)?No
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?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20065
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,906,673$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)$402,149$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)$377,425$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))$878,626$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 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))$248,473$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
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 2007)
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 2007)
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
Enter the total number of donor advised funds owned at the end of the tax year$76
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$3,494,884
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$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isCommunity Trust
Support Schedule
19992000200120022003200420052006
Total$1,321,785$1,957,665$1,751,164$1,399,408$1,828,397$6,919,118$3,164,139$2,950,820
Gifts, grants, and contributions received$594,077$1,310,753$1,488,029$1,071,931$1,472,865$6,304,024$2,533,159$2,275,776
Membership fees received$0$0$0$0$0$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$0$0$0$0$0$0$0$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$727,708$646,912$263,135$327,477$355,532$615,094$630,980$675,044
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$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$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
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
1The New York Community Trust909 3rd Ave Fl 22, New York, NY 10022-4752NY1959-03$878,731,017
2California Community Foundation221 S Figueroa St Ste 400, Los Angeles, CA 90012-3760CA1980-07$832,072,005
3Oregon Community Foundation1221 Sw Yamhill St Ste 100, Portland, OR 97205-2108OR1973-11$669,364,278
4Greater Cincinnati Foundation200 West Fourth Street, Cincinnati, OH 45202-2775OH1963-10$464,561,829
5The Seattle Foundation1200 5th Ave Ste 1300, Seattle, WA 98101-3151WA1947-10$455,448,266
6The San Diego Foundation2508 Historic Decatur Rd Ste 200, San Diego, CA 92106-6138CA1975-08$384,807,897
7Boston Foundation Inc75 Arlington Street, Boston, MA 02116-3936MA1997-12$381,053,798
8Minneapolis Foundation800 Ids Center 80 South, Minneapolis, MN 55402MN1926-09$378,505,936
9The Chicago Community Trust, Akarama Foundation Fund 42-24135225 North Michigan Avenue Suite 220, Chicago, IL 60601-7757IL1951-06$358,308,115
10Greater Kansas City Community Foundation1055 Broadway St Ste 130, Kansas City, MO 64105-1595MO1979-01$322,132,233
11Hawaii Community Foundation827 Fort Street Mall, Honolulu, HI 96813-4317HI1996-07$311,043,517
12Columbus Foundation1234 E Broad St, Columbus, OH 43205-1405OH1937-10$292,216,053
13Hartford Foundation For Public Giving10 Columbus Blvd 8th Fl, Hartford, CT 06106-1976CT1942-03$290,406,600
14Cleveland Foundation, Hines Memorial Fund1422 Euclid Ave, Cleveland, OH 44115-1902OH1945-02$267,225,247
15Pittsburgh Foundation5 Ppg Pl Ste 250, Pittsburgh, PA 15222-5405PA1994-11$259,434,987
16Kalamazoo Community Foundation151 S Rose St Ste 332, Kalamazoo, MI 49007-4773MI1997-02$254,303,670
17Chicago Community Foundation225 N Michigan Ave, Chicago, IL 60601-7757IL1986-05$239,861,703
18Tulsa Community FoundationPO BOX 2300, Tulsa, OK 74102-2300OK1999-06$238,976,495
19Communities Foundation Of Texas Inc5500 Caruth Haven Ln, Dallas, TX 75225-8146TX1961-03$232,052,479
20Greater Houston Community Foundation5120 Woodway Dr Ste 6000, Houston, TX 77056-1791TX1972-02$221,412,594
21The Community Foundation For Greater Atlanta Inc, The Hurt BldgThe Hurt Building, Atlanta, GA 30303GA1977-10$218,196,989
22The Community Fdn Of Middle Tn Inc3833 Cleghorn Ave Ste 400, Nashville, TN 37215-2519TN1992-02$210,603,468
23Maine Community Foundation Inc245 Main St, Ellsworth, ME 04605-1613ME1984-01$188,451,632
24Community Foundation Silicon ValleySan Jose, CA 95113CA$183,999,928
25Foundation For The Carolinas220 N Tryon St, Charlotte, NC 28202-2137NC1962-10$148,389,356
26The Community Foundation For The National Capital Region1201 15th Street Nw Suite 420, Washington, DC 20005-2899DC1974-01$146,019,998
27Greater Milwaukee Foundation Inc101 W Pleasant St, Milwaukee, WI 53212-3963WI1942-10$136,237,320
28Winston-Salem Foundation860 W 5th St, Winston Salem, NC 27101-2506NC1946-07$135,963,479
29Greater Kanawha Valley FoundationPO BOX 3041, Charleston, WV 25331-3041WV1965-04$5,067,367
30Parkersburg Area Community FoundationPO BOX 1762, Parkersburg, WV 26102-1762WV1965-10$4,702,421
Number of organizations performing similar types of work
Alabama2
Arizona2
California25
Colorado4
Connecticut8
District of Columbia1
Delaware1
Florida14
Georgia2
Hawaii1
Iowa5
Idaho1
Illinois10
Indiana17
Kansas4
Kentucky2
Louisiana2
Massachusetts5
Maryland2
Maine1
Michigan17
Minnesota10
Missouri6
Mississippi3
Montana2
North Carolina9
North Dakota1
Nebraska2
New Hampshire1
New Jersey5
New York14
Ohio20
Oklahoma2
Oregon1
Pennsylvania14
South Carolina6
South Dakota3
Tennessee4
Texas22
Utah1
Virginia7
Vermont1
Washington6
Wisconsin9
West Virginia2
International1
Total278

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