An Examination of Private Foundations for 1979
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An Examination of Private Foundations for 1979
By Thomas B. Petska*
In 1979 there were approximately 28,000 foundations
that spent $3.2 billion for charitable, religious, and
other philanthropic purposes.
Over $1.7 billion of
these expenditures were made by the 490 largest
foundations.
Of the $6.0 billion in income received
by foundations in 1979, these 490 largest foundations
accounted for $3.6 billion of this amount.
Total assets of foundations were similarly concentrated.
Those with assets of $1,000,000 or more
accounted for only 13 percent of all foundations but
90 percent of total foundation assets.
The 490
largest foundations accounted for 65 percent of total
foundation assets.
The largest foundation, the Ford
Foundation, had assets of $2.4 billion, which was 7
percent of the total.
Asset Size
Number
Percent
Total
Percent
of
of
Assets
of
Foundations Total (Billions) Total
Total .......
27,980
100.0%
$34.7
100.0%
Under $100,000..
$100,000 under
$1,000,000....
$1,000,000 under
$10,000,000...
$10,000,000
or more .......
15,747
56.3
0.4
1.1
8,717
31.2
3.0
8.6
3,026
10.8
8.8
25.4
490
1.7
22.5
64.8
Although the Ford Foundation was clearly the largest
foundation, several other foundations also reported
assets in excess of $250 million.
The ten largest
foundations, which are listed below in order of decreasing asset size, had assets that totaled $6.5
billion, or 19 percent of the total.
Ranking
Name
(Expenditures for exempt purposes represent expenditures for activities that were directly related to the
tax-exempt purpose of the foundation and included expenditures made for charitable, educational, religious,
scientific or other similar purposes.)
Number
Income
of
Year Foundations
Total
Assets
(Billions)
1962 ... 14,865
1974 ... 26,889
1979 ... 27,980
Ford Foundation
Andrew W. Mellon Foundation
Kresge Foundation
Rockefeller Foundation
Robert Wood Johnson Foundation
Charles Stewart Mott Foundation
The MacArthur Foundation
W.M. Keck Foundation
Fundacao Calouste Gulbenkian
The Pew Memorial Foundation
The number of foundations and their assets, total
receipts, and expenditures for exempt purposes all
increased substantially in the 1962-1979 period.
The
number of foundations nearly doubled while assets,
receipts, and expenditures for exempt purposes tripled.
$1.9
2.8
6.0
$1.0
2.4
3.2
As can be seen in the table below, the number of
private foundations and their philanthropic expenditures are small in comparison to those of other
organizations recognized as tax-exempt under Internal
Revenue Code subsection 501(c)(3).
Other 501(c)(3)
organizations, such as the American Cancer Society and
the National Kidney Foundation, are generally considered "public charities" because these organizations
have a broad base of public
financial support.
Private foundations have a narrow base of financial
support, receiving most of their funds from their
this broad base of
founder(s).
In addition to
support, "public charities" are in the advantageous
position of having fewer requirements and are exempt
from paying the excise tax that is required of
requiremdnts
foundations.
(A
discussion
of
the
affecting foundations appears in the next section.)
Number of
Organizations
Expenditures
for Exempt
Purposes
(Billions)
Total exempt under
subsection 501(c)(3)..
109,135
$39.4
Private foundations..
All other ...........
27,087
82,048
2.6
36.8
Total Assets
(Millions)
$2,437
691
609
539
508
405
397
336
321
287
$11.6
25.5
34.7
PRIVATE AND PUBLIC PHILANTHROPY
Income Year 1975
1
2
3
4
5
6
7
8
9
10
Expenditures
Total
for Exempt
Receipts
Purposes
(Billions) (Billions)
Data are presented in the table below for three
years in the 1962-1979 period to show the relative
magnitude
of private
foundation expenditures.
A
measure of public philanthropy called "Government
Social Welfare Expenditures" is included for comparative purposes.
This series is compiled by the Social
includes
direct
Security Administration
[10]
and
Government
disbursements
to
the
aged,
disabled,
unemployed, and poor, plus Government expenditures for
schools, hospitals, and other similar facilities.
*Prepared under the direction of Daniel F. Skelly, Acting Chief, Foreign Special Projects Section,
Foreign Statistics Branch.
9
10
Private Foundations, 1979
Expenditures for exempt purposes by private foundations are small in comparison to Government Social
Welfare Expenditures and the Gross National Product
(GNP). Public p~ilanthropy, as measured by'Government
Social Welfare Expenditures, accounted for between 11
and 18 percent of the GNP for the three years shown.
Private foundation expenditures represented less than
1 percent of Government Social Welfare Expenditures
and are negligible in comparison to the GNP.
While the expenditures of private foundations are
small relative to the total of all tax-exempt organizations, they still account for billions, of dollars.
Furthermore, private philanthropic organizations have
considerable
flexibility
in
carrying
out
their
activities.
Since they are not directly accountable
to the public,
these organizations can initiate
creative approaches to social problem-solving without
a need for an immediate return on their investments as
In
is often the case for public social programs.
addition, private philanthropy can shift resources and
priorities without the burdens that are characteristic
of public programs.
Income
Year
Expenditures
for Exempt
Purposes
(Billions)
1962 ......
$1.0
- 1974.. ;. -.. - ~ - 2 -.4
.
1979 ......
3.2
Government
Social
Welfare'
Expenditures
(Billions)
Gross
National
Product
(Billions)
$64.7
264.7--.
440.3
$565.0
-1-,434.22,417.8
TAX TREATMENT OF PHILANTHROPIC ACTIVITIES
.The Federal Government grants exemption from income
taxation to certain organizations that engage in charitable and other -philanthropic activities in order to
encourage, philanthropy- in the private sector.'
The
primary reason for tax-exempt status was best described
in a U.S. House of -Representatives Ways and Means
Committee report on the Revenue Act of 1938 [171:
"The exemption from taxation of money or property devoted to charitable or other (exempt) purposes is based
upon the theory that the government is compensated for
the loss of revenue by its relief from the financial
burden which would otherwise have to be made by appropriations . from public funds, and by the benefits resulting from the promotion of the general welfare."
Another tax benefit that indirectly assists:organizations engaged in philanthropic activities is the
deductibility by donors of contributions from their
income.
By reducing taxable income, contributors
This effectively
reduce their total tax liability.
lowers the net cost of a contribution by the ai~ount of
the contribution times the marginal tax rate of' the
taxpayer.
Before 1969, private foundations were not defined in
the Internal Revenue Code but were generally recognized as tax-exempt under Code subsection 501(c)(3),
along* with charitable, educational, *religious, and
other. "philanthropic" type organizations.
Increasing
public awareness of. the privileges of tax-exempt
status and alleged foundation involvement in questionable activities contributed to the passage of the Tax
Reform Act of 1969. Under this Act, a private foundation was defined as a nongovernment,, nonprofit organization with a narrow base of financial support whose
goal was to assist social, educational, religious or
other activities deemed to serve the public good.
Foundations are classified as either "nonoperating"
or "operating." Non6perating
'
foundations, which account for approximately 96 percent of the total, are
organizations that carry out charitable or other philanthropic activities in an indirect manner by making
grants to other organizations or persons that'carry
out these activities.
Operating foundations, on the
other hand, engage directly in charitable and other
philanthropic activities. In the case of individuals,
contributions to private nonoperating foundations are
deductible up to a limit - of 20 percent of adjusted
gross income (AGI), while contributions to operating
foundations and public charities are deductible up to
a limit of 50 percent of AGI. Contributions by corporations to philanthiopy (including amounts donated to
private foundations? are deductible. only up to 5
percent of net income.
In addition to defining private foundations, the
1969
Act
significantly
increased
the
number
of
restrictions . on foundation activities,
imposed an
excise tax' on a foundation's net investment income to
cover . the Government's, cost of monitoring their
activities, and required nonoperating foundations" to
make a current minimum distribution for charitable or
other philanthropic purposes.
This required minimum
distribution was established to insure that foundations that benefited from their tax-exempt status
were also - currently involved in charitable or other
philanthropic activities.
This provision has been
criticized on the grounds that it would necessitate
the liquidation of assets which could eventually lead
to-the extinction of private foundations over time.
As can be seen above,
foundation spending for
philanthropy was about the same relative to assets in
1979 as it was in 1974.
The overall number of
foundations increased between . 1974 to 1979, - and the
number of foundations with assets of $10 million or
more increased from 354 to 490. Therefore, these data
do not support the position that foundations are a
dying breed.
COMPARISON OF FOUNDATION.FINANCIAL DATA, 1974 AND 1979
All of the foundation asset items, , except for
accounts and notes receivable, increased- considerably
between 1974 - and 1979.
Corporate stock, the largest
asset item, increased by $2.3. billion, while. corporate
bonds, the second largest, increased -by $2.0 billion.
Government obligations were the third largest asset
item, and. witnessed the largest increase both in
actual amounts and on a percentage basis.
This
increase was $2.7 billion, which is almost twice the
1974
amount.
The
large
percentage
increase
in
Government obligations was probably due to the high
levels. of interest rate s in 1979, making Government
obligations
more
attractive
'
relative
to
other
investments.
Asset Item
1974
(Billions)-
1979
Change
(Billions) from 1974
Total...............
$25.5
$34.7
36%
Corporate stock ......
Corporate bonds .....
Government obligations
Cash .................
Accounts and notes
receivable (net) ...
Other ................
13,.4
5.0
1.4
1.2
15.7
7.0
4.2
2.0
17
40
200
66
1.0
3.5
0.8
5.0'
-20
42
Private Foundations, 1979
On a percentage basis, the relatively small increase
in corporate stock in comparison to other type assets
produced an overall 8 percent decline in corporate
stockholdings as a percent of total assets (from 53 to
45 percent). Corporate bonds accounted for 20 percent
of total assets in both years. Government obligations
accounted for the largest relative increase, growing
from 6 to 12 percent of the total. The other asset
composition shares were relatively stable between the
two periods.
If the effects of inflation are removed from the
asset data for these two years, the picture that
The level of prices,
emerges is somewhat different.
as measured by the Implicit Price Index for the Gross
National Product (14, 151, increased by 42 percent
Since the value of total
between these two periods.
assets only increased by 36 percent, "real" asset
values actually declined. With a base period of 1972
= 100, the total real asset values were $22.2 billion
for 1974 and $21.2 billion for 1979.
Total liabilities for all foundations decreased by 8
percent between 1974 and 1979. For foundations with
$10 million or more in assets, it decreased by 17
percent. However, for foundations with assets under
$1 million,
total liabilities increased by 25
percent. For all foundations total liabilities for
1979 were only 4 percent of total assets.
In both years, contributions, gifts, and grants
constituted the largest source of receipts, while
dividends and interest were the two next largest
sources. Although dividends ranked second for 1974,
it dropped to third for 1979 with interest replacing
it. This increase in the share of interest relative
to dividends is not surprising when two factors are
considered.
First,
the
as
asset
composition
indicates, investment portfolios have shifted away
from holdings of corporate stock toward Government
?bligations. Second, and related to the first reason,
in 1979 interest rates were at historically high
levels so, even without portfolio changes, returns on
these assets would be high relative to 1974.
Figure A
The Three Principal Components of
Total Assets, by Size of Total Assets,
1979
11
Receipts
Total Receipts ....
1974
(Billions)
1979
(Billions)
Change
from 1974
$2.8
$6.0
114%
2.3
1.2
1.2
91
71
71
0.8
0.6
500
100
Contributions,
gifts, grants .....
1.2
Dividends ...........
0.7
Interest ............
0.7
Net gain (or loss)
from sales of assets -0.2
Other ...............
0.3
Contributions, gifts, and grants is by far the
largest component of total deductions, and it increased
its share of the total from 71 to 79 percent between
1974 and 1979.
The next largest deduction item,
employee wages and benefits, increased from 5 to 6
percent of total deductions.
FOUNDATION ASSETS, INCOME AND DISTRIBUTIONS, BY SIZE
OF TOTAL ASSETS, 1979
In Figure A, the three largest components of total
Corassets are illustrated by size of total assets.
porate stock was the largest asset component in total
and for each asset size group, except for the group
under $100,000.
(For this group, cash, which is not
The
shown here, was the largest asset component.
importance of cash in
asset portfolios declines
significantly with increases in the size of total
assets.)
The relative share of corporate stock
increases with asset size.
Corporate
bonds and
Government obligations, the second and third largest
asset types, also- generally increased in importance
with increases in the size of the foundation but much
more modestly than corporate stock.
Figure B shows the three largest sources of receipts
by size of total assets. Contributions share of total
receipts declined as the size of the foundation
50
ff~ Corporate Stock
Corporate Bonds
Government Obligations
Under
$100,000
$100,000
$1,000,000
under
$1,000,000
under
$10,000,000
Size of Total Assets
$10,000,000
or more
Private Foundations, 1979
12
-
Figure 8
The Three 'Largest Components of Total
Recelpts,'6y'Size of Total Assets, 1979
Percent of
Total Receipts
F-//,
L.LL
Contributions
Interest
Dividends
Under
$100,000
$100,()00
under
$1,000,000
under
$1,0G0,000
$10,000,000
$10,000,000
or r-nore
Size of Total Assets
increased, f rom 76 percent in the smallest asset size
class to 31 percent in the largest size class. Since,
by definition, the larger organizations have higher
asset values, it is not surprising that interest and
dividends, which are returns to assets, show steady
increases in importance with increasing asset size.
Dividends surpasses interest in the highest asset. size
class to become the second largest. receipt canponent.
This is attributable to the increasing significance of
.corporate stock in asset portfolios of this group.
net income and 5 percent of investment assets unless
one of these is larger for all foundations in.that
group. That situation is very unlikely. However, the
sizes of net income and
' 5 percent of investment assets
relative
to the
required distribution
are
an
indication of the significance of these two components
in the computation of the required distribution. For
1979 net income was the more significant fact or in the
determination of the required distribution since
'
the
required distribution much more closely resembles net
income than 5 percent of investment assets.
FOUNDATION DISTRIBUTIONS
In the Economic Recovery Tax Act of 1981, the
minimum distribution requirement was redefined to
include only the fixed percent of assets.- This change
will reduce the required minimum distribution for
those
nonopeirating
foundations
whose
net
income
exceeds their fixed percent of assets.
This could
reduce funds that 'foundations expend for charitable or
similar purposes. For eximple, if this provision had
existed for 1979, the required minimum distribution
would have been $700 million less.
Figure C shows three items relating to the required
current minimum distribution for charitable purposes
by size of investment assets (i.e., assets not used
for charitable purposes).
A minimum distribution
("distributable amount") must be made by foundations
to avoid paying penalties.
It is defined as the
greater of net income ("adjusted net income")
or a
fixed percent of investment assets ("minimum investment return").
This percent is set each year'by the
Secretary of the Treasury on the basis of money market
rates and was 5 percent in 1979.
It is designed to
ensure that foundations currently pay out 'at least
what is a normal return on market obligations.
The fixed percent of investment assets was put into
the computation of the required minimum distribbtion
.so that foundation philanthropic spending would be
In
maintained even if net income were small or zero.
1979,
however, net income exceeded 5 percent of
The
investment assets in each asset size class.
required distribution, which is the greater of net
income or 5 percent of investment assets, barely
For any
exceeded net income in each size class.
subgroup, the required distribution must exceed both
Actual foundation distributions ("qualifying Oistributions") include expenditures made by foundations for
their
exempt
purposes,
amounts used
to
acquire
additional exempt purpose assets, and amounts set
aside for future expenditures for exempt purposes.
Each of tll~ese three types of distributions can be used
to meet the minimum distribution re'quirement. However,
foundations can distribute more if they so desire.
(Since operating foundations are required to distribute.
at least 85 percent of their net income for exempt
purposes, they are not subject to- the distribution
requirement.)
In Figure D the ratios of actual
distributions and the required minimum distribution to
investment assets by size of investment assets are
shown.
13
Private Foundations, 1979
Figure C
Foundation Distribution Items,'by
Size of Investment Assets
Required Distribution
Percent of
I-vestment
Assets
20
10
lia ff-ft, E:NE
$100,000
$1'0()01000
$10,000,000
under
$1,000,000
under
$10,000,000
or more
Figure D
Foundation Required Minimum Distributions
and the Actual Distributions,
by Size of Investment Assets
70
Percent of Investment
Assets
30
Actual Distributions
M
Required Distributions
10
E"
Under
$10D,000
$100,000
under
$1,000,000
$1,000,000
under
$10,000,ODO
Size of Investment Assets
~
$1010001WO
or more
14.
Private Foundations, 1979
Actual distributions exceed required distributions
in each asset size class. 'This difference declines
considerably with increases in the size of the
foundation. For the smallest foundations, the amount
of actual distributions is over three times the size
of the required distribution; for the largest foundations, these two items are nearly identical. Thus,
the smaller foundations are much more likely to
distribute more than Is required than are the larger
foundations.
However, one point of clarification
should be noted on the mechanics of the required
distribution.
Both components of the required
distribution (i.e., net income and 5 percent of
investment assets) are dependent on the size of
assets.
Contributions received by foundations are
not included in either of these components. Since
the smaller foundations are much more dependent upon
contributions as a source of receipts than are the
larger foundations, the required minimum -distribution
is considerably less binding an the smaller foundations.
The - larger foundations . have relatively
greater shares of the types of income that are
included in net income, and, in addition, they have
high asset. values.
Both of these increase the
significance of the required- minimum distribution
among the larger foundations. Therefore, the minimum
distribution requirement is more applicable to the-larger
foundations.
In
general,
the . smaller
foundations distribute more of their income and do
not build up a large asset base from which they could
earn interest and dividends. The larger foundations
distribute only slightly more than they are required,.
-and these expenditures -are -from-their investment
income. -
SOURCES OF DATA AND METHOD OF ESTIMATION
Private foundation statistics. are based on a sample
of private foundation returns, Return of a Private
Foundation Exempt 'from Income Tax (Form 990-'PF),
processed by the Internal Revenue Servi:ce during
1980. The sample was stratified based on the size of
,total assets and selected at rates that ranged from 7
percent to 100 percent. There were 9,438 returns in
the sample drawn from an estimated population of
29,845. (See [71 for more details.)
In the 1979 study, only one return for each sampled
the
foundation was
accepted
in
the sample and
estimated population.
In the 1974 study, certain
prior-year returns were included even when a given
foundation also filed a more recent return during the
current
filing
period.
Prior-year
returns were
included based on the assumption that they would
substitute for returns filed late.
If the same
methodology was used in 1979, the estimated number of
1,700
foundations would
have
been
approximately
higher.
(All of these additional 1,700 foundations
would have asset values less than $1 million.)
Data for Income Years 1977 and 1978 are also
available.
These data were obtained directly from
the IRS Master File system based on information
transcribed for tax administration purposes from all
returns
filed
in
1978
and
1979,
respectively.
However, these data were not further edited for
statistical use.
Moreover, they were. derived from
the entire population rather than from statistical
samples.
For these reasons, the data for 1977 and
1978 are not altogether comparable with those for
1974 and 1979 and were, therefore, not used in this
article.
Comparisons between the Master File data
and the data in the studies cited in this article can
be
found
in
the
IRS
study, . Statistics
of
Incane--1974-1978, Private Foundationa [51, and Ewo
papers which are listed in. the
Bibliographical
References and Notes [7, 81.
COEFFICIENTS OF VARIATION
. As the data presented in this article are estimates
based upon a sample of documents filed with the
Internal Revenue Service, t.hey are subject to sampTo properly
.ling, as well as nonsampling, errors.
use the statistical data provided, the magnitude of
Coef ficients of
the sampling errors must be known.
variation (CV's), computed from the. sample, are used
,to measure the magnitude of the sampling errors.
The table below presents approximated coefficients
of variation (CV's) for frequency estimates. . The
approximate CV's shown here are intended only as a
general indication of the reliability of the data.
For numbers of foundations other than those shown
below, the corresponding CV's can be estimated by
interpolation.
The reliability of estimates based on samples, and
the use of coefficients of variation for evaluating
the precision of sample estimates are discussed in
Appendix II.
Num er of foundations
Approximated
Coefficient of variation
5,740
.05
1,440
.10
360
.20
160
.30
60
30
.
is
Private Foundations/ 1979
Table I.-Number of Foundations, Total and Selected Receipts and Total Deductions, Total and Selected Assets, Not Worth,
Net Investment Income and Tax, and Distributions, by Size of Total Book Value of Assets
[All figures are estimates based on samples - money amounts are in thousands of dollarrs]
Size of total book value of assets
Iterri
Total
0)
Assets
zero
or not
reported
(2)
$1 under
S26,000
(3)
$25.000
under
$100,000
$100.000
und
$sw,eroo
$500,000
under
$1,000.000
$1.000.000
rKler
$1 OU000.000
0.000.ODO
under
:50.000,000
(4)
(5)
(6)
(7)
(a)
$50.000.000
or more
I
(9)
Number of foundations .....................................
27,980
1,223
8,557
5,967
6,752
1,965
3,026
402
88
Total receipts ........................................................
Selected receipts:
Contributions, gifts. and grants received:
Number of foundations ......................................
..........................................................
Net
Amount
capital gain:
Number of foundations ......................................
Amount ..........................................................
6,013,129
5,318
93,998
111,420
345,438
276,185
1,572,295
11,439,688
2,168,787
12,561
2,281,838
237
4,409
4,336
79,118
2,679
81,006
2,876
197.903
861
140,684
1,359
663,094
174
557.736
38
557,886
5,661
701,601
*17
645
1,783
908
6,640
1,718
31,121
701
23,344
1,391
177,168
227
159,075
54
302,428
Total deductions ....................................................
Contributions, gifts, and grants paid:
Number of foundations ......................................
Amount ..........................................................
3,535,777
12,290
109'ess
87,499
261,833
181,980
1,006,568
875,222
1,000,517
22,564
2,801,000
372
9.638
5,927
76,612
5,226
66,140
6,135
212,787
1,761
142,262
2.683
775,516
373
688,109
87
829,936
34,11111118,0311
-
63,690
333,096
1,606,756
1,390,765
8,814,871
8,314,042
14,144,810
9,876
7,037.133
-
752
5,412
1,832
46,046
3,421
271,630
1,257
268,803
2,207
1,805,796
330
1,833,959
76
2,805,487
13,639
15,740,143
-
1,612
13,785
3,006
103,048
4,503
548,918
1,527
484.109
2,561
3,420,936
351
3,503,002
79
7,666,344
26,599
33,166,587
-
8,404
55,735
5,962
320,640
6,752
1.572,155
1,965
1,358,375
3,026
8,513,068
402
7,888,951
88
13,457,661
2,477,354
-6,97
-15,870
23,921
83,606
94,205
565,728
564,466
1,168,269
3.442
40,720
16,799
4,404
131,168
47,563
1,356
118,214
24,009
2,145
689,686
123,958
309
625.020
60,554
75
1,211.512
43,243
Total assets (book value) ......................................
Selected assets:
Investments in corporate b9nds:
Number of foundations ......................................
Amount ..........................................................
Investments in corporate stocks:
Number of foundations ... ; ..................................
Amount ..........................................................
Not worth (end of year~
Number of foundations ............................................
Amount .................................................................
Not Income (Is" deficit)........................................
Net income:
Number of foundations .........................................
Amount..............................................................
Deficit...................................................................
Net investment income:
Number of foundations .............................................
Amount.................................................................
Excise tax on net investment income ............................
Adjusted net income:
Number of foundations..; .........................................
Amount.................................................................
Minimum investment return:
Number of foundations ............................................
Amount..................................................................
Distributable amount:
Number.of foundations .............................................
Amount..................................................................
Oualifying distributions:
Number of foundations .............................................
Amount ..............................
...............
;.~
15.324
2,826,936
349,582
7,816
3,538
9,771
25,640
22,391
3,124,039
62,753
198
1.473
29
4,965
7,644
152
5,"4
28,319
568
6,436
141,320
2,826
1,912
122,747
2.472
2,958
797,345
15,959
390
785,373
15,767
88
1,239,817
24.980
22,188
2,580,063
183
1,581
4,837
14,206
5,428
25,075
6,397
116,106
1,909
105.235
2,953
672,470
393
652,817
88
992.572
23,048
1,877,852
232
780
6,117
3,242
5,268
15,756
6,228
78,950
1,863
70,974
2,870
460.608
384
481,674
87
765,867
23.281
2.450,298
259
1,774
6,449
13,181
5.497
25,412
6,203
118,030
1,770
100,113
2,664
614,640
3 7
616,339
82
960,809
15,451
4
103
7:30 2.1
78
1
5:7
70
9 71
6
253
6:92
''11
1,926
170,789
2,983
950,485
396
844,060
as
1,015,379
.8"
25
3,438:21
20 72 1
'Estimate should be used with caution because of the small number of sarnple returns on which it was based.
NOTE: Detail may not add to total because of rounding.
16
Private Foundations/1979
Table 2.-Number of Foundations, Total and Selected Receipts and Total Deductions, Total and Selected Assets, "at Worth,
Net Investment Income and Tax, and Distributions, by Size of Total Fair Market Value of Assets
[All figitres we estimates " on samples - money amounts are in thousands of dollars)
Size of total fair market value of assets
Itern
TOW
(1)
Assets
zero
or not
reported
S1 under
$125.000
(2)
(3)
I
S25,000
under
$100.000
S100.000
un der
S500,000
SWO.M
under
S1.ooo'ooo
(4)
(5)
(6)
I
$1,0W.000
under
$10,000,000
$10.0oo.000
under
$50.000.000
$50.000,000
or more
(8)
(9)
Number of foundations .....................................
27,980
1,496
8,395
5,741
6,571
2,045
3,131
486
Total receipts .........................................................
Selected receipts:
Contributions. gifts, and grants received:
Number of foundations ......................................
Amount ..........................................................
Net capital gain:
Number of foundations ..... .. . ..............................
Amount ..........................................................
6,013,129
13,972
92,924
9"Is
361,384
269,453
IrSO1,945
1,392,499
2,28S,1133
115
1 2,561
2,281,838
404
.7.903
4,294
78.325
2 ,511
69,585
2, 808
227,440
879
144,606
1.416
681.745
205
562.152
43
510,082
5.661
701.601
.48
1,024
599
1.629
913
6,562
1,626
27,646
733
23,516
1,406
161,514
267
174,998
69
304,711
827,397
1,148,578
....... .. . . ... . .. . ... . . ... .....................
3,535,777
19,535
108,OS3
79,534
241,27
IBZ192
929,210
Contributions,%ifts , and granIs paid: .
Number of foundations ......................................
Amount .......................................... : ...............
22. 564
2,801,000
544
15,682
5,854
74,894
4 ,967
58,949
6,030
192,817
1,837
144.762
2.769
715,662
452
652.319
111
945,914
34,4168,0311
59,024
100,954
341,506
1,672,735
1,330,832
8,204,413
8,334,004
14,624,561
9, 876
7,037,133
16.256
806
7,048
1,750
50.808
3,276
277,462
1,256
258,635
2,234
1.719,836
394
1,858,056
92
2,849,031
13,639
15,740.143
65
14,801
1,629
18.393
2,81 C
99,895
4.355
495.693
1,596
455,555
2,642
3,115,893
435
3.445,250
107
8,094,664
26,599
33.166,587
302
57.796
74,069
5,731
329.041
6,566
1,641,507
2,045
1,298,318
3,128
7,924,312
486
7,910,766
115
.13,930.778
Z477,354
5,563
-15,129
16,285
120,107
87,261
572,735
565,102
1,136,555
1,355
114,452
27,191
2.199
695,338
122,603
375
630,449 .
65,347
90
1,180.407
43,852
3,064
721,177
14,438
472
745,541
14,969
114
1,373,957
27,663
Total deduction
Total assets (book value) .......................................
Selected assets:
Investments in corporate bonds:
Number of foundations ......................... ...... .....
Amount ............................................................
Investments in corporate stocks:
Number of foundations .......................................
Amount ..........................................................
Not worth (end of year):
Number of foundations ................................ : ...........
Amount .................................................................
Not Income (less deficit) .........................................
Not income:
Number of foundations .................
.....
*-* .......
Amount .......... . . .................................................
Deficit .......................................... .........................
Not investment income:
Number of foundations ......................................
Amount .................. ..................................................
Excise tax on net investment income ........... : ................
Adjusted not income:
Number of foundations ...............................
Amount-
-
......................................................
Minimum i~~stma
- ' - nt return:
Number of foundations ............................................
Amount ................................................. : ...............
Distributable amount
Number of foundations .................................. ; .........
Amount .................................................................
Oualifying distributions:
Number of foundations ............................................
Amount........
.................................
NOTE: Detail may not add to total because of rounding.
I
15,324
2,826,936
349,582
168
3,725
9,288
3,584
9,755
24,884
3,332
31,662
15,377
4,221
161,147
41,040
22,391
3,124.039
62.753
321
6,038
121
4.887
7,551
150
5,281
25,531
510
6,256
130,893
2.617
1,995
113,351
2,285
22,188
2,580,063
326
-5,169 -
4,7ii6
-14,280
5.258
22;119
6,222
108,734
1,90
94,548 -
3,059
-610,717 -
477
590,465
114
1,134.031
23,048
1,877,852
376
3.290
6,028
3,095
5,101
14,
6.D64
70,755
1,926
62,950
2,975
407,002
468
429,227
111
887 526
23,281
2,450,298
415
5,32
6,359
13108
5,304
22,369
6,057
104,151
1,844
89,933
2,764
554,717
433
547.581
106
1,113,110
67 38 1
22,831
6 'M
101,297
5,479
77,665
64
2454051
0
2 :13 1
.90,
3,41
25 :211
17
3,088
877,992
481
793,744
114
1,140,373
Private Foundations/ 1979
Table 3.-Balance Sheets and Income Statements, by Size of Total Book Value of Assets
17
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Size of total book value of assets
Ite.
Total
(1)
Assets
z
or enot
ro
reported
S25,000
$100,000
$500.000
$1,000,000
$10,000,000
$25,000
under
$100,000
unda r
$500,000
under
$1,000,000
under
$10.000,000
under
$50,000,000
(3)
(4)
(5)
(6)
(7)
18)
$1 under
(2)
$50 ,000 ,000
or more
(9)
Number of foundations .....................................
27,980
1,223
8,557
5,967
6,752
1,965
3,026
402
88
Total assets (book value) .......................................
Cash, total .............................................................
Savings and interest-bearing accounts ......................
Other .................................................................
Accounts receivable, net ...........................................
Notes receivable, net ......................................... .....
Inventories..............................................................
Investments in government obligations. total .................
United States and instrumentalities ..........................
State and local ....................................................
Investments in corporate bonds ..................................
Investments in corporate stock ...................................
Mortgage loans .......................................................
Other investments....................................................
Depreciable assets held for investment purposes ...........
Less: Accumulated depreciation...............................
Depreciable assets held for charitable purposes ............
Less: Accumulated depreciation..............................
Land held for investment purposes ............................
Land held for charitable purposes..............................
Other assets ..........................................................
Total liabilities........................................................
Accounts payable ...................................................
Contributions, gifts, and grants payable .......................
Mortgages and notes payable ...................................
Other liabilities .......................................................
Net worth ..............................................................
34,668,031
2,011.309
1,431,234
580,074
236,680
523,186
39,712
4,152.901
4,086,661
66,240
7,037,133
15,740,143
422,250
2,239,432
400,891
177,292
567,656
124,033
378.048
192,084
1,027,924
1,501,443
133,850
848,917
298,505
220,171
33,166,587
6,013,129
2,281,838
5,682
1.224,691
1,196,303
196,619
757,611
50.464
299,919
3,535,777
2.801.000
71,905
166,558
14,005
16,106
81,430
17,084
88,655
27,233
16,744
235,051
2,477,354
2,826,936
349,582
44,647,789
-
63,690
31,303
19,982
11,321
881
949
303
3,532
3,250
282
5,412
13,785
257
4.446
16
1
1,811
732
23
282
1,422
7,954
3,234
1.118
1,427
2.175
65,735
333,096
91.612
69.216
22,395
4,612
5,442
1,447
23,531
22,431
1,101
46,046
103,048
5,098
27,421
1,404
659
10,945
4,824
4,265
3,666
10,042
12,456
2,013
928
7,330
2,185
320,640
93,998
79,118
58
2,987
3,150
1.562
1,359
2,573
3,190
109,868
76,612
3,075
12,888
1,311
2.351
97
1,024
183
1,872
10,455
-15,870
9,771
25.640
66,723
111,420
81,006
174
12,176
9,448
2,C27
2,977
1,736
1,875
87,499
66,140
2,085
5,298
96
313
2,407
286
1,028
739
602
8,502
23,921
40,720
16,799
386,264
1,390,765
188,417
146,768
41,649
10.153
30,381
3,561
164,149
159,200
4,950
268,803
484,109
23,115
104,423
20,937
8,486
36,119
8,360
21,086
16,384
35,971
32,390
5,498
6,819
11.360
8,713
1,358,375
276,185
140,684
871
56,279
42,028
8,559
18,442
2,840
6,481
181,980
142,262
3,751
7,711
184
233
5,161
741
3,674
1,806
690
15,767
94,205
118,214
24,009
1,653,661
8,814,871
'673,833
533,331
140,502
59,223
174,075
18,017
1,176.164
1,144,001
32,163
1,805,796
3,420,936
84,229
569,413
143,108
61,652
267,099
51,513
135,783
97,833
302,525
301,803
27,941
92,608
111,863
69.391
8,513,068
1,572,295
663.094
3,981
336,954
269,819
69,313
156,871
26,599
45,663
1,006,568
775,516
21,052
53,617
2,854
2,653
24,304
6,539
23.281
10.949
4,801
81,002
565,728
689,686
123,958
10,532,899
8,314,042
398,637
296,806
101,830
58,553
158,469
8,455
1,152.643
1,132,555
20,088
1,833,959
3,503,002
131,130
477,992
87,733
39,401
123,600
25,319
141,583
40,056
262,951
425,091
18,750
185,237
150,450
70,654
7,888,951
1,439,688
557,736
33
311,818
312,605
63,430
161,347
8.889
23.829
875,222
688,109
17,152
39,721
5,058
2,486
19,867
8.265
24,691
6,167
3,797
59,908
S64,466
625,020
60,554
11,263,686
14,144,810
358,733
161,328
197,404
89,761
123,101
2,285
1,468,078
1,464,443
3,635
2.805,487
7,666,344
159,437
914,640
120,050
56,502
99,444
27,572
48,153
15.041
358,330
687,148
70,541
558,482
1,524
56.601
13,457,661
5,318
4,409
91
1,387
357
202
-1,127
(1)
12,290
9,638
282
64
360
85
61
21
1,778
-6,972
844
7,816
10.868
1,606,756
268,776
203,803
64,973
13,498
30,768
5,644
164.804
160,782
4,022
271,630
548,918
18,984
141,097
27,644
10,592
28,637
5.714
27,156
18,821
56,683
34,600
5,874
3,724
14,551
10,452
1,572,155
345,438
197,903
474
62,403
45,273
11,987
17,356
4,891
5,150
261,833
212,787
4,642
10,652
199
539
6,621
874
4,867
1,741
809
18,099
83,606
131,168
47,563
3,052,299
31,678,973
13,305
81,265
315,851
1,507,457
1,308,195
8,104,436
7,619,282
12,729.182
322
16,647
1,372
572
1
too:51 27:1
1.372
~97
2.5.1
4: ' 91
571
21:0~ftf
10
441
3,273
478,722
20,848
8.710
8.815
------
9,284 1
26,012 1
12,453
3.328
14
5
2,097
7,109,351
122,244
57,420
94,062
24,119
Total receipts.........................................................
Contributions, gifts, and grants received ......................
Gross dues and assessments ...................................
Interest .................................................................
Dividends ..............................................................
Gross rents and royalties .........................................
Net gain (or loss) from sale of assets ........................
Gross profit from business activities ...........................
Other income.........................................................
Total deductions ....................................................
Contributions, gifts, and grants paid ...........................
Compensation of officers ..........................................
Other salaries and wages ................................... ....
Pension plan contributions ........................................
Other employee benefits ..........................................
Investment, legal, and other professional services
Interest .................................................................
Taxes ....................................................................
Depreciation, amortization, and depletion ......................
Rent ........................... .........................................
Other expenses .......................................................
Net Income (less deficit) .........................................
Net income ............................................................
Deficit ....................................................................
Total assets (fair market value) .....................................
Information items:
Beginning of year assets, total ...................................
Selected beginning of year assets:
Inventories ..........................................................
Investments in corporate stock ...............................
Depreciable assets held for investment purposes .......
Less: Accumulated depreciation ...........................
Depreciable assets held for charitable purposes .........
Less: Accumulated depreciation ...........................
'Less than $500.
NOTE: Detail may not add to total because of rounding.
3212 6
16.991,~350
9
L
2,694
~'
941
403,747
9
1,535
3S
168,858
821
i
507,051
105,764
2,168,787
557,886
440,687
513,623
39,538
400,385
2,936
213,730
1,000,517
829,936
19,865
36,607
5,615
8,571
20,360
282
30,004
5,586
4,152
39,539
1,168,269
1,211,512
43,243
17,681,390
Private Foundations/ 1979
Is
-
Table 4. - Balance Sheets and Income Statements, by Size of Total Fair Market Value of Assets
[All figures are estimates based on samples - money amounts are in thousands of dollars)
Item
Total
(1)
Assets
zero
or not
reported
(2)
$1 under
$25.000
S25,000
under
s1oo'ooo
(3)
(4)
Size of total fair market value of assets
$500.000
$1,000.000
$100,000
und er
under
under
S1.000,000
$10,000.000
S500,000
(5)
(7)
(6)
$10.000,000
under
$50,000,000
S50.000,000
or mole
(8)
(9)
Number of foundations .....................................
27,980
1,496
8,395
5,741
6,571
Total assets (book value) .......................................
34,668,031
59,024
100,954
341,506
1,672,735
1,330,832
8,204,413
8,334,004
14,624,561
Cash. total ..............................................................
Savings and interest-bearing accounts ......................
Other .................................................................
Accounts receivable , net ...........................................
Notes receivable, net ...............................................
2,011,309
1,431,234
580,074
236,680
523.186
259,627
198.819
60.807
12.650
31,655
177,170
135,632
41,538
10.775
29.630
39,712
4.152,901
4,086,661
66,240
7,037,133
32.429
20.836
11.592
1.194
1,228
303
4,090
3.808
282
7,048
18,393
257
5,358
503
2
91.589
69,884
21,704
3.933
6,104
Inventories .......... ...................................................
Investments in government obligations, total .................
United States and instrumentalitie ..........................
State and local ....................... ............................
Investments in corporate bonds .................................
Investments in corporate stock ..................................
Mortgage loans ......................................................
Other investments ...................................................
Depreciable assets held for investment purposes ..........
Less: Accumulated depreciation ..............................
Depreciable assets held for charitable purposes ...........
Less: Accumulated depreciation ..............................
Land held for investment purposes: ........... ...............
Land held for charitable purposes ..............................
Other assets ...........................................................
6,160
4.169
1.991
608
151
6.849
6.744
106
16,256
14,801
280
3,971
768
724
1,702
26,786
25,395
1,391
50.808
5,388
197,354
193,989
3,365
277,462
356,689
265,582
91,107
57,815
157,791
7,200
1,203,949
1,183,820
20,128
1,858,056
430,917
221,756
209,161
90,919
133.467
4,412
1.482,125
1,478.490
3.635
2,849.031
3.445.250
185,995
499,867
88,715
35,588
1,733
662
251
256
28.575
495,693
18,067
145,047
20,549
8,202
43.500
5,130
20,316
.21,826
136,931
3,115,893
78,411
534,432
139,661
59,479
4.302
845
1,057
1,667
3,723
99.895
6,465
29,332
1,264
263
.8,070
2,495
4,187
2,207
11,923
3,483
160,781
156.465
4,315
258,635
455,555
23,764
103,110
17,782
6.575
34.531
8,024
20,757
15,457
34,003
656,729
514,557
142.172
58.786
163.159
17,225
1,070,968
1,037,951
33,018
1.719,836
240,306
45,458
130,145
92,357
291,440
127,326
32,380
136,503
36,549
240,267
8,094,664
109,010
918,315
131,649
66,458
107,887
29,038
64,a33
21,766
281,062
1,501,443
133,850
848,917
298,505
220,171
33,166,587
1,228
89
230
267
642
57,796
26,886
3,520
1,124
20,165
2,076
74,069
12,465
1,632
789
7,149
2,896
.329,041
31,228
6,878
3,450
8,230
12,669
1,641,507
32,513
5,243
6,982
12,010
8,278
1,298,318
280,102
27,136
75,379
113,126
64.461
7,924,312
423,238
21,930
219,466
108,784
73,058
7,910,766
693,784
67,421
541,498
28,774
56,091
13,930,778
13,972
7,903
599
93
3.
1.700
92,924
78,325
932
-373
6
112
1,562
959
2,583
3,200
95,819
69,585
195
12,815
'7,201
584
2,112
1,469
1,856
361,384
227,440
483
65,526
38,424
7,435
13,100
4.256
4,720
269,453
144,606
758
54,839
35.015
7,324
18,844
2,323
5,743
1,501,945
681.745
3,974
314,982
233,766
Gross rents and royalties.~ .......................................
Net gain (or loss) from sale of assets ........................
Gross profit from business activities ...........................
Other income............................ ...................... : .....
6,013,129
2,281,838
5682
1,224:691
1,196,303
196,619
757,611
.50.464
299,919
60,532
139,600
25,723
41,623
1,392,499
562,152
121
317,669
244,591
57.899
170,550
11,418
28,100
2,285,133
510,082
451,979
632,650
60,351
412,819
2,687
214,565
total deduaticiins..-L., gifts,
Contributions
a~~
*''aid*
p
. ...........
Compensation -of officers..........................................
Other salaries and wages ............ : ...........................
Pension plan contributions ........................................
Other employee benefits ...........................................
investment, legal, and other professional services .........
Interest ..................................................................
Taxes ....................................................................
-Depreciation, amortization, and depletion ......................
Rent .....................................................................
Other expenses .......................................................
-3,535,777
2,801,000
71905
166:558
14,005
16,106
81.430
17,084
88,655
27,233
16,744
235,051
19,535
15.682
377
187
2
108,053
74,894
2,985
13,103
1,310
182,192
144,762
3,518
7,221
157
189
5,153
693
3,465
1,695
662
14,676
827j397
652,319
17,314
36,228
4,246
2,316
2,367
103
1,039
170 1,809
10,273
24 t278
192,817
4,720
11,546
288
677
5.986
927
4,055
1,536
801
17,922
A29,2110
715,662
19,538
48.585
2,485
2,479
484
1
216
303
93
2,191
79,534
58,949
2,096
5.057
96
330
2,398
287
921
538
592
8.268
22,744
6,257
20,969
10,325
4,668
75,498
19,618
6.067
22,155
5.879
3,453
57,802
I it 48,578
945,914
21,357
44,631
61733
8,803
22,681
2.750
35.834
6.787
4.665
48,421
Net Income (less deficit).........................................
Net income .................................... : .......................
Deficit.............................. :.....................................
2,477,354
2,826,936
349,582
-6,563
3,725
9,288
-15,129
9;755
.24,884
16,285
31,662
15,377
120,107
161,147
41,040
87,261
114.452
27,191
S72,735
695.338
122.603
565,102
630,449
65,347
1,136,555
1,180,407
43,852
Total assets (fair market value) .....................................
Information items:
Beginning of year assets, total ................................... .
Selected beginning of year assets:
Inventories ..........................................................
Investments in corporate stock ..................... ; .........
Depreciable assets held for investment purposbs .......
Less: Accumulated depreciation ...........................
Depreciable assets held for charitable purposes ......... .
Less: Accumulated depreciation ...........................
44,647,789
-
61,674
322,136
1,564,737
1,448,981
9,320,233
9,875,653
22,054,375
31,678,973
69,645
146,784
321,670
1,536,864
1,255,132
7,489,782
7,619,677
13,239,420
32.296
16,991 :74
3 507 1
403
161
': 01 'l
51
50
105,764 1
1 2:
8 3
10
591
3
322
21,387
487
1
1,294
517
1,433
97,355
1,232
193
6,743
2,098,
4,287
2,530,126
19,289
7,828
39,645
4,293,
2,826
450,853
17.318
.6.647
29,626
6,811
10,258
3,035,727
136,212
55,225
210019
39:2481
8,604
3,343,101
98,366
34320
119:507
27,1351
4,566
7.494,642
128,539
63.126
97,320
25,027
Total liabilities........................................................
Accounts payable ...................................................
Contributions, gifts, and grants payable .......................
Mortgages and notes payable ...................................
Other liabilities .......................................................
Net worth ......... .....................................................
.
Total receipts..........
........................................
received ......................
Contributions, gifts, a~~...grants
Gross dues and assessments ...................................
Interest ...................................... : ..........................
Dividends ..............................................................
NOTE: Detail my not add to total because of rounding.
15,740,143
422,250
2,239.432
400.891
177.292
567,656
124,033
378,048
192,084
1,027.924
21 ::9
6361
3,285 2
2,956
2,045
3,131
486
115
.
Private Foundations/ 1979
19
Table 5.-All Foundations- Balance Sheets and Income Statements, by Size of Total Receipts
[Ali figures are estimates based on samples - money amounts are in thousands of dollars]
Size of total receipts
Item
TOW
(1)
Rqceq-As
orzero
not
$1 under
$25,000
S25000
~~er
$100,000
(2)
(3)
(4)
$500.000
under
$1,000,000
$1,000.000
under
$10.000,0DO
$10,000.000
or rnore
(5)
(6)
M
(a)
-
15,338
5,376
3,371
732
759
410
4,920,660
414,298
319,430
94,867
29,620
105,142
3,409,746
215.360
165.451
49,909
14.971
44,211
11,315,976
538.835
406,799
132.035
77,291
180,905
8.385
637,359
621,861
15,498
1,014,946
1.938,098
61,783
282,649
73,859
30,195
7,203
419,053
410,519
8,533
788,129
1,347,340
20,678
196,211
50,242
20,408
13,069
1,659,638
1,632,282
27,356
2,339,963
4,841,796
171,627
722.436
134.397
56.084
11,675,062
389,960
185,779
204,180
96,203
115,778
1,858
1,112,114
1,106,197
5,916
2,306,262
125,532
23.785
78,929
41,520
162,518
101,009
20,370
88,696
33,898
123.526
168,159
37,175
104,642
52,547
403,929
6,392,025
105,075
773,336
108,899
58,430
105,231
26,611
52,802
21,879
170,681
Number of foundations .....................................
27,980
1,994
Total assets (book value) ........................................
Cash, total ..............................................................
Savings and interest-bearing accounts.......................
Other ...... ..... . ......................................................
Accounts receivable, net............................................
Notes receivable, net ................................................
34,668,031
2,011,309
1,431.234
580.074
236,680
523.186
39,712
4,152,901
4,086,661
66,240
7,037,133
85,BS4
16,139
%
11.651
4,488
510
342
1,110,684
180,893
142.479
38.413
9,295
33,568
2
298
298
1,294
30,766
21,788
1,111
129
3,073
93,028
90,901
2,127
176,023
2,150,050
255.825
199.644
56,181
8,790
43,240
6,121
231.411
224,602
6,810
410,516
022
175
730
1.916
10,437
377,315
14,661
98,169
10,589
3,375
19,802
4,345
15,232
14,637
72,119
812,803
48.427
1 ",844
21.794
8,671
47,099
11,571
37,018
25,687
76.715
~nventories ..............................................................
nvestments in government obligations, total ..................
United States and instrumentalities ...........................
State and local....................................................
Investments in corporate bonds .................................
Investments in corporate stock ..................................
Mortgage loans .......................................................
Other investments ...................................................
..........
Depreciable assets held for investment purposes
Less: Accumulated depreciation ..............................
$100,000
under
$500,000
Depreciable assets held for charitable purposes............
Less: Accumulated depreciation ..............................
Land held for investment purposes .............................
Land held for charitable purposes ............................
Other assets ...........................................................
15,740,143
422,250
2,239,432
4DO,891
177,292
567,656
124.033
378,048
192,084
1,027,924
Total liabilities ........................................................
Accounts payable .....................................................
Contributions, gifts, and grants. payable .......................
Mortgages and notes payable.....................................
Other liabilities . . . .................................... ................
Net worth .................................................................
1,501,443
133.850
848,917
298,505
220,171
33,166,587
1,576
195
1,078
304
84,277
63,406
3.830
2.637
50,287
6,653
1,041,277
38,981
8,192
4,014
17,029
9,746
2,111,068
127,185
17,734
21,750
55,083
32,618
4,793,475
149,043
7,606
33,635
79,275
28,526
3,260,702
449,621
33,816
251,951
72,105
91,749
10,866,355
671,630
62,477
534.930
23.648
50.575
11,003,432
Total receipts .........................................................
Contributions, gifts, and grants received ......................
Gross dues and assessments ....................................
Interest .................................................................
Dividends ...............................................................
Gross rents and royalties .........................................
Not gain (or loss) from sale of assets ........................
Gross profit from business activities ...........................
Other income .........................................................
6,013,129
2,281,938
5,682
1 .224 .691
1,196,303
-
275,979
105,718
810
81,679
58,133
738,976
284,159
2,322
186,986
146,444
-
9,565
12,115
2.549
407
5.
28.933
61.563
10,310
18,258
502,669
185,774
2,109
127,452
103,982
22,663
41,101
3,670
15, 918
1,952,673
752,466
178
442,140
367,329
83,759
227,764
33,307
45 ,729
2,439,141
921,041
-
196,619
757,611
50,464
299,919
103,691
32,680
262
37 ,081
28,258
2,367
764
489
1.789
Total deductions .....................................................
Contributions, gifts, and grants paid .............................
Compensation of officers ...........................................
Other salaries and wages ..........................................
Pension plan contributions .........................................
Other employee benefits............................................
Investment, legal, and other professional services ..........
Interest .................................................................
Taxes ....................................................................
Depreciation, amortization, and depletion ......................
Rent .... . .. ...............................................................
Other expenses .......................................................
3,535,777
2.801,000
71,905
166,558
14,005
16,106
913
745
-
16,518
3,136
13,257
5,865
3,514
49,126
391,503
305,666
7.668
21,285
648
1,024
9,566
2,765
8,857
3.908
1,112
29,003
1,215,346
947,052
24,959
58,655
7,200
5,002
24,260
7,806
30,618
9,175
6,991
93,628
984,152
825,195
16,110
35,491
5,364
7,577
43
21
19
33
3
49
244,121
193,622
6,790
6,668
124
272
7,739
806
4,853
2,131
1,067
20,053
569,557
417,946
14,221
43.099
668
2,205
81,430
17.084
88.655
27,233
16,744
235,051
130,181
110,775
2,158
1,359
3
26
4,460
499
2,104
952
463
7,379
Net Income (less deficit) .........................................
Net income .............................................................
Deficit ...................................................................
2,477,354
2,826,936
349,582
-913
913
-26,489
23.306
49,795
31,854
76,688
44,834
169,419
243,622
74,203
111,166
165,618
54,452
737,327
828,282
90.955
1,464,989
1,489,420
34,431
Total assets (fair market value) ......................................
Information items:
Beginning of year assets, total ...................................
Selected beginning of year assets:
Inventories ...........................................................
Investments in corporate stock ................................
Depreciable assets held for investment purposes ........
Less: Accumulated depreciation ............................
Depreciable assets held for charitable purposes .........
Less: Accumulated depreciation ............................
44,647,789
99.841
2,382,930
2.432,352
5,615,908
4,080,020
14,211,854
15,824,885
31,678,973
40,407
1,161,709
2,0b3,154
4,655,435
3,242,923
10,411,497
16,067,849
32,296
16,991,350
403,747
168.858
507,051
105,764
2
7,302
1,041
116
796
155
2.823
2,434,410
11,084
4,044
15,337
3,667
4,908
816,506
22,200
8,648
44,584
10,146
7,535
1,928,291
78,148
28,301
111,423
20,993,
1,428
1,366,746
45,983
18,14
93.69
17,
13,981
4.621,655
137,324
53825
144:0181
29,333'
1,619
5,816,440
107,967
55.780
97,198
24,426
'Less than $500.
NOTE: Detail may not add to total because of rounding.
(1)
1
349,353
492,157
49,332
414,302
139
212,818
18,844
2.050
28.947
5,168
3,593
35,813
20
Private Foundations/ 1979
Table 6.-All Foundations- Balance Sheets and Income Statements, by Size of Total Contributions Received
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Size of total conb6utons received
Item
Total
Ctlmribubons
rem
(1)
$100,000
S500.000
.$1.000,000-
or riot
reported
S25.000
under
$100.000
under
$500.ODO
under
$1,000.000
under
$10,000.000
$10 ,000 .000
or rrK"
(2)
$1 under
S25,000
(3)
(4)
(5)
(6)
(7)
(8)
Number of foundations .....................................
Total assets (book value) ........................................
27,980
34,668,031
19,418
20,560,271
7,925
3,207,755
2,521
2,383,668
1,505
2,672,466
Cash, total ..............................................................
2.011,309
1.083,305
235,117
179,368
226,918
284
1,122,461
302
3,501,0"
25
1,220,364
85,084
158,616
42,901
736,346
346,958
127,985
346.009
187;116
48,001
16,906
61,565
125,21C
54.158
15,800
19,082
171,440
55,478
11,091
34,232
:
1'7 3'1
9,676
12,000
1
24,749
Accoun~ts receivabl6, net ............................................
Notes receivable, net ................................................
1,431,234
580,074
236,680
523,186
Inventories ..............................................................
Investments in govemment obligations, total..................
United States and instrumentalities ...........................
State and local .....................................................
Investments in corporate bonds ..................................
39,712
4,152.901
4.086,661
66,240
7,037.133
12,546
2,272,068
2,242,661
29,407
3.935,543
4,856
412.287
402,308
9,980
726,510
5,069
313,420
310,007
3,412
577,193
9,500
363,106
355.407
7,700
460,774
Investments in corporate stock ...................................
Mortgage loans ........................................................
Other investments ....................................................
Depreciable assets held for investment purposes ...........
Less: Accumulated depreciation ...............................
15,740,143
422.250
2,239,432
400,891
177,292
10.284,722
230.682
1.409.654
218.221
98.977
1,290,460
32,712
167,095
49,072
23.401
8114,562
45,466
102,344
21,898
6,271
Depreciable assets held for charitable purposes........
7Less: Accumulated depreciation..
Land held for investment purposes .......
........
Land held for charitable purposes ... * ..........
Other assets ..........................................................
...............
567,656
124,033
378,048
192,084
1,027,924
190,825
54,654
191,688
54,467
356,182
99,375
25,539
36,943
29,876
93,919
71,938
16,770
11,389
33,478
125,701
Total liabilities ........................................................
Accounts payable ....................................................
Contributions, gifts. and grants payable .......................
Mortgages and notes payable ....................................
Other liabilities .........................................................
Net worth ................................................................
1,501,443
133,850
848,917
298,505
220,171
33,166,587
746,818
89,405
395,934
170,628
90,852
19,813,452
131,722
9,975
52,849
41,000
27,899
3,076,033
Total receipts ..........................................................
Contributions, gifts, and grants received .......................
Gross dues and assessments.....................................
Interest ..................................................................
Dividends ................................................................
6,013,129
2,423,913
2,281,838
5,682
1,224,691
1,196,303
7.776
726,060
793;369
.402,121
47,103
2,378
119,685
126,914
Gross rents and royalties ... W......................................
Net gain (or loss) from sale of assets .........................
Gross profit from business activities ............................
Other income ..........................................................
196,619
757,611
50,464
299,919
113,098
519,052
25,383
246,175
34,034
50,613
6,058
15,334
13,169 .
54,456
5,451
9;144
3,635,777
-2,801,000
1,789,107
267,962
179;200 7,433
25,186
2,339
1,998
-246,617 7,664
36,880
1,460
2,593
Savings and
interest-bearing accounts .......................
Other ..................................................................
Total deductions .....................................................
Contributions,- gifts, and-grants paid ............................. .
Compensation of officers ...........................................
Other salaries and wages ..........................................
Pension plan contributions .........................................
Other employee benefits............................................
'9:'
3959
18.152
41,829
47.804
13,393
2,495
6,736
172,590
171.463
1,127
208,032
712
480,929
470,121
292
138,501
134.695
3,806
512.278
1,078,977
14,778
167,100
45,112
17,720
385,552
33,227
81,733
29,315
17,819
1,511,960
45,355
273.264
30.612
8,195
2103,9110
20. 030
38,242
6,661
4,910
72,095
11,675
61,910
28,929
127,240
49.055
7,478
13.311
10,967
50.479
66,131
7,954
46.483
26,408
170,289
18,236
64
16.324
7,961
104,114
130,062
10,800
91,334
12,738
15,189
2,253,607
125,961
6,735
31,672
61,111
26,444 ,
2,54
.6,505
87,465
4,357
46,667
8,887
27,554
1,034,996
197,382
10,770
152,269
4,038
30,305
3,303,664
82,033
1 ,808
78 , 192
104
1 ,928
1,138,331
375,917
125,640
1,457
87,837
79,762
565,476
315,524
186.363
81
46,459
20,761
984,097
702,511
43
128,126
86,627
946,082
903 ,378
-
18,245
39,610
10,620
10.296
6,057
51,674
1,419
2,709
8,430
40,783
1,303
16,274
3.586
1 , 423
231
987
360,386
182,042
142,382
2,834
12,499
637
1,062
455,335
375,243
5,218
20,494
2,1180
1,596
143,928
131 , 200
1 , 031
2, 655
3,329
384
4,337
1,212
725
12,641
8,429
258
7,337
2,121
1,491
30,268
2, 705
136
1 ,412
261
58
3,792
316,843
945
90,837
78,080
17733
10,808
616.803
25 ,687
10,790
71,905
166.558
14,005
16,106
-1,486,092
40,231
46,691
5,135
7,583
337,018
240,267
7,495
22,152
1,095
1,055
Investment, legal, and other professional services ..... : ....
Interest ......................................................... . ....
Taxes ...................... .............................................
Depreciation, amortization, and depletion .....................
Rent .....................................................................
Other expenses ......................................................
81,430
17,084
88,655
27,233
16,744
235,051
42,190
10,928
53,142
12,372
6.988
77,752
9,588
2,822
9,472
3.886
2.265
36,921
6,381
724
5,706
2,846
2,010
34,137
8,808
1,832
7,249
4,535
3,208
39,541
Net Income (less deficit) ........................................
Not income ......... ....................................................
Deficit ...................................................................
2,477,354
2.826,936
349,582
634,809
107,955
130,147
22,192
205,089
859,038
224,229
65,103
103,288
38,184
229,825
24,736
133,481
157,875
24,394
528,763
544,121
15,359
802,164
802,642
488
Total assets (fair market value) ......................................
Information items:
44,647,789
27,320,889
4,556,542
2,859,243
3,269,556
1 , 280,288
4, 155 , 139
1 ,206, 132
Beginning of year assets, total ...................................
Selected beginning of year assets:
Inventories ...........................................................
Investments in corporate stock ............. ..................
Depreciable assets held for investment purposes ........
Less: Accumulated depreciation ............................
....r....
Depreciable assets held for charitable
.......
purposes
7
31,~78,973
19,526,936
3,114,490
2,271,745
2,429,198
948.453
2,971 ,972
416 , 180
32,296
16,991,350
403,747
168858
507:051
105,7641
13,051
11,930,334
221,349
4 75
1 73:327
'
49,687 1
4.175
1,318,042
51,940
23,181
88,344
17,990
4,464
947,297
8,917
1,038,009
43,633
15,624
63,540
9,451
1,
270
164 ,316
820
773
16 ,941
37
Less: Accumulated depreciation ...................
................
NOTE: Detail may not add to total because of rounding.
-
23,180
6,243
70,802
16,851
342,28
01
34
,7
21 :74
70
41
4
469
250,384
2 : 018
622
52,899
6,807
I
459
219
I
Private Foundations/ 1979
21
Size
of
Total
Fair
Market
Value
of
Assets
of
Total
Value
of
Assets
and
by
of
Foundations,
by
Size
Book
Table 7. - Number
[All figures are estimates based on samples]
Size of total fair market value of assets
Si~e of total book value of assets
Assets
zero
or not
reported
Total
$1 under
$25.000
S25.000
$ under
100,000
$100,
under
$500.000
000
(3)
(4)
(5)
8,395
5,741
.5
115
-
-
-
8,066
215
224
5,204
459
308
5,975
1,965
7
3
$1,0000,000 under $10,000,000 .....................................
3,026
16
1
3
$10,000,000 under $50.000,000 .....................................
402
-
1
-
$50,000,000 or more ................................................... .
88
*Estimate should be used with caution because of the small number of sample returns on
NOTE: Detail may not add to total because of rounding.
-5
-
369
49
-2
-2
1,569
266
3
-
6
87
2.798
113
2
-
-
9
362
30
-
6
81
1
hich it
as based.
-
486
261
$500.000 under $1,000,000 ...........................................
(9)
3
8,557
53
(8)
3,131
$1 under $25,000 .......................................................
*26
(7)
-
1,132
5,967
(6)
2,045
1,496
1,223
6,752
$50,000.000
or more
-5
27,980
$IDO,000 under $500.000 .............................................
$10 DDO 000
Lnd~;
$50.000,000
6,571
Total ......................................................
Assets zero or not reported..........................................
$25.000 under $100,000 ..............................................
$1.000.000
under
SIO.DOO,DDO
I
I
(2)
$500.000
under
$1.000,0010
Private Foundations/ 1979
22
Table S.-Selected Balance Sheet and Income Statement Items, and Reconciliation of Net Worth, by Size of Total Book Value
of Assets
[All figures are estimates based on samples - money amounts are in thousands of dollars)
Size of total book value of assets
Item
Assets
Total
(1)
27,980
Number of foundations .........................
34,668,031
Total assets (book value) .......................................
Selected assets:
Cash, total:
25,910
Number of foundations .........................................
2,011.309
Amount. .............................................................
Investments in government obligations, total:
6,334
Number of foundations .........................................
4,152,901
Amount .............................................................
Investments
in corporate bonds:
,
9876
4umber of foundations .........................................
7,037:133
Amount..............................................................
Investments in corporate stock:
13,639
Number of foundations ..........................................
15,740,143
Amount........................................................ ......
1,501,443
Total liabilities .........................................................
Selected liabilities:
Contributions, gifts, and grants payable:
805
Number of foundations..: ....... : ...............................
848,917
Amount...............................................................
payable:
Mortgages and notes
755
Number of foundations ..........................................
298,505
Amount................... ............................................
33,166,587
Net worth (end of year) .........................................
principal fund:
25,444
Number of foundations ............. ............................
*
32,065,253
Amount ... ...........................................................
Income fund:
9,512
Number of foundations ..........................................
1,101,334
Amount ...............................................................
Reconciliation of net worth:
Net worth (beginning of year):
26,386
Number of foundations .........................................
30,286,667
Amount ..............................................................
Additions to net worth:
Net income:
15,324
Number of foundations ..............
2,826,936
Arnount :-.. 7. = .. ......... ......-.......... .........
increases:
Other
4,264
Number of foundations ........................................
702,491
Amount ........ : .................................................
Subtractions from net worth:
Deficit:
Number of foundations ......................................
11,028
349,582
Amount ...........................................................
Other decreases:
I .
4.870
Number of foundations ................. ....................
299,923
Amount ..........................................................
Equals:
Net worth (end of year):
26,599
Number of foundations~ .....................................
33,166,587
Amount ..........................................................
6,013,129
Total receipts.........................................................
Selected receipts:
Contributions, gifts, and grants received:
12,561
Number of foundations ....................... .................
2,281,838
Amount ..............................................................
Interest:
21,395
Number of foundations .........................................
1,224,691
Amount ..............................................................
Dividends:
15,249
Number of foundations ............ ............................
1,196,303
Amount...... : .......................................................
Net capital gain:
5,661Number of foundations ........................ : ................
701,601
Amount. .............................................................
Net short-term capital gain:
1,765
Number of foundations .................................
51,444
Amount....................................................... .......
3,535,777
Total deductions ....................................................
Selected deductions:
Contributions, gifts, and grants paid:
22,564
Number of foundations .........................................
- Amount..............................................................
2,801,000
Compensation of officers:
5,424
Number of foundations ..........................................
71,905
Amount.............................................................. .
services:
Investments, legal, and other professional
13226
Number of foundations ......................................... .
81:430
Amount.............................................................. .
44,647,789
assets
(fair
market
value)
....................................
.
.
Total
1
orzero
not
reported
(2)
-
S1 under
S25,OW
S25,000
under
$100,001)
sloo,ow
under
S500,000
S500,000
under
S1.000,0D0
$1,00O.Doo
under
$10.ODO.ODO
(3)
(4)
(5)
(6)
(7)
sio.000,000
S under
50,000.000
$50.000.000
or more
(9)
-
8,557
63,690
5,967
333,096
6,752
1,606,756
1,965
1,390,765
3,026
8,814,871
-
8,220
31,303
5.834
91,612
6,558
268,776
1.907
188.417
2,922
673,833
384
398.637
86
358,733
-
389
3,532
865
23,531
2,040
164,804
915
164,149
1.781
1, 176.1 64
273
1,152,643
71
1,468,078
-
752
5,412
1 832
46:046
3,421
271,630
1,257
268,803
2,207
1,805.796
330
1,833,959
76
2,805.487
1.612
13,785
7,954
3,006
103.048
12,456
4,503
548,918
34,600
1,527
484.109
32,390
2,561
3,420,936
301,803
351
3,503,00
425,091
79
7,666,344
687,148
169
1,118
101
928
166
3,724
52
6,819
207
92,608
69
185,237
40
558,482
154
1,427
55,735
150
7,330
320,640
194
14,551
1,572,155
77
11.360
1,358,375
154
111,863
8,513,068
24
150,450
7,888,951
3
1,524
13,457,661
7,744
63,548
5,732
322,661
6,603
1,569,762
1,925
1,309,012
2,961
8,150.544
39
7,407,205
85
13,242,522
2,042
-7,813
2.009
-2,022
2,718
2,3.94
923
49.364
1,560
362,525
211
481,747
49
215,140
8,233
73,030
5,e18
304,761
6,618
1,470,121
1,930
1,256,939
2,980
7,856,758
391
7,244,935
87
12,064,438
3,538
-- 9,771
3,442
-40j720 -
.4,404
131,168
1,356
118,214
2,145
689,686
309
-625,020
75
1,211,512
721
2,17
934
4,275
1,182
27,695
421
19,173
770
139,936
140
186,937
42
321,613
319
7,816
4,375
25,640
2,456
16,799
2,303
47,563
602
24,009
870
123,958
91
60,554
13
43,243
-9,404
1,335
3,597
913
12.317
1.270
9.265
401
11,942
718
49,353
114
107,386
34
96,658
5,318 ,
8,404
55,735
93,998
5,962
320,640
111,420
6,752
1,572,156
345,438
1,965
1,358,375
276,185
3,026
8,513.068
19572,295
402
7,888,951
1,439,688
88
13,457,661
2,168,787
237
4:409
4.336
79,118
2,679
81,006
2,876
197,903
861
140,684
1.359
663,094
174
557,736
38
557,886
245
1,387
4,674
2,987
4,926
12,176
6,229
62,403
1,887
56,279
2,957
336,954
389
311,818
87
440,687
91
357
2,103
3,150
3,412
9,448
4,924
45,273
1,605
42,028
2,662
269,819
367
312,605
84
513,623
*17
645
1,783
908
6,640
1,718
31,121
701
23,344
1,391
177,168
227
159,075
54
302,428
1
(1)
12,290
200
91
109,868
267
1,556
87,499
436
2,637
261,833
197
2,798
181,980
507
12,101
1,006,568
121
13,528
875,222
35
18,733
1,000,517
372
9,638
5,927
76,612
5,226 66,140
6,135
212,787
1,761
142,262
2,683
775,516
373
688,109
87
829.936
721
907
2085
1,571
4642
591
3,751
1,242
21,052
259
17,152
75
19,865
2'320
2,351
66,723
2~773
2,407
386,21l
3~854
6,(321
3,052,2991
1 328
r,:
list
1,653,661 1
242 :31[14
29'
10,532,899 1
3 :2
1.,8 7
11,263,686
82
20,360
17,681,390
1,223
329
15,685
-844 -
1
3
223
3 60
0,868
*Estimate should be used with caution because of the small number of sample returns on which it was based.
'Less than $500,
,NOTE: Detail may not add to total because of rounding.
402
8,314,042
88
14,144,810
23
Private Foundations/ 1979
Table 9.-Nonoperating Foundations- Balance Sheets and Income Statements, by Size of Total Book Value of Assets
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Size of total book value of assets
Item
Total
(1)
Number of nonoperating foundations ............
Total assets (book value) .......................................
26,970
32,965,412
Cash, total .. . ..........................................................
Savings and interest-bearing accounts ......................
Other . ................................................................
Accounts receivable, net ...........................................
Notes receivable, net ...............................................
ntories ......... . . ...................................................
:nvestments in government obligations, total .................
United States and instrumentalities ..........................
State and local ....................................................
Investments in corporate bonds ..................................
Investments in corporate stock ...................................
Mortgage loans .......................................................
Other investments ....................................................
Depreciable assets held for investment purposes ...........
Less: Accumulated depreciation ...............................
1,821,415
1,376,581
444,832
222,866
509,921
31,653
3,977,883
3.913,623
64,260
6,823,979
(2)
$1 under
$25,000
$25.000
under
$100,000
$1 0010DO
under
$500,000
(3)
(4)
(5)
$500.000
under
$1.000,000
1,192
-
8,245
62,175
5,813
324,032
6,555
1,556,643
1,880
1,331,315
-
30,365
19,304
11,061
881
731
88.748
66.751
21.996
4,062
5,430
1,441
23,494
22,393
1,101
45,802
262,634
200,150
62,484
12.807
29,730
4,495
160,853
156,831
4.022
267,790
540.368
18,472
136.558
26,427
10 ,366
178.031
139.162
38,869
9,446
30,224
2,807
159,849
155,054
4,795
263,399
472,305
22,750
102,945
19,407
8, 191
21,017
4,437
25,551
14 ,455
50 ,287
-
299
3,526
3,244
282
5,412
:10,000.000
under
50,000,000
(7)
(a)
2,824
8,235,983
379
7,825,178
647,221
514,442
13 2 ,778
52,063
169,068
14,938
1,116,773
1,086,220
30,554
1,716,224
393,134
294,544
98,590
55,965
155,705
5,816
1,101,022
1,081,150
19,872
1,751,322
24,765
6,408
18,983
11 , 617
29 ,385
3,278,866
81,546
539,631
131,064
58,233
150,029
24,578
128,168
60,692
232, 508
3,331,427
121,119
436,545
82,695
36, 772
81,126
18,782
138,158
33, 118
193, 581
$50,000,000
or more
83
13,630,085
221,283
142,229
79,054
87,642
119,034
1,858
1,412,366
1,408,730
3,635
2,774,029
7,666,336
159,437
896,846
94,049
48 ,775
-
1,655
692
23
282
1 , 316
-
7,712
3.234
1,118
1,303
2,057
54,463
11,126
1,540
925
6,868
1,793
312,906
32,101
5,710
3,683
13,148
9,560
1,524,543
28,912
5,229
6,589
9,922
7,172
1,302,402
267,612
25,102
91,647
99,090
51,773
7,968,371
411,046
17,209
185,125
147,922
60,790
7,414,132
674,653
68,892
549,663
1,307
54,791
12,955,432
5,211
4.302
91
1 ,387
357
91,348
76,985
52
2 ,933
3,142
1,475
1,358
2,584
2,820
102,848
73,867
101
11,885
9,339
1,13311
2,919
1,624
1.181
329,481
185,704
419
61,381
44,569
255,195
125.142
581
54,982
41,019
1,365,586
527,623
2,101,574
520,621
427.394
509,992
11,652
17,133
4,516
4.107
8.259
18,095
.2,337
4,780
1,452,732
608.073
2,826
322,252
258,262
66,287
150.210
10,135
34,688
12,183
9,562
282
64
-
107,437
76,462
2,553
12,727
1,274
251,109
211,082
3,745
8,148
183
420
168,912
139,141
3.237
4.985
123
143
920,978
769,997
17,904
24.641
1,295
1 ,007
840,476
684,453
15,748
30,685
3,953
1 , 864
981,358
821,385
19,313
34,250
5,390
8 ,447
356
64
61
21
1,773
2,247
97
982
167
1,872
9.055
79,568
65,676
1,914
2,595
65
232
1,619
278
806
409
465
5,507
6,263
785
4,512
1,422
570
13,976
4,587
671
3,382
1,568
594
10.481
22,016
5,570
20,533
8,112
3,420
46,482
18,505
8,202
23,272
5;033
3,024
45,736
19,671
77
28,635
3,267
4,079
36,845
2,341,955
2,682,821
340,866
-6,972
844
7,816
-16,089
9,469
25,558
23,280
39,406
16,126
78,373
124,542
46,169
86,283
109,824
23,541
531,755
650,974
119,219
525,109
584,303
59,194
1,120,216
1,163,458
43,243
42,439,939
10,868
65.451
376,100
2,999,813
1,589.960
9,834,651
10,429,624
17,133,474
30,151,957
13,305
80,024
307,796
1.463,249
1,256,605
7,569,204
7,192,350
12,269,424
26,136
16,655,377
356,884
2,694
1,535
821
-
287
16,568
1 ,234
.1
54
1,173
99,625
1,341
585
4 :693
3171
3,146
2,575,525
24,301
9,848
11
4: 19 g2
131
2,906
466,922
19.327
8,442
21 .433
9,653
3.187,885
129,417
54,882
132 .8gl
7,247
3,197,995
85,949
30 ,808
65,187
1,724
7,108,164
95,013
51 , 964
68.936
Depreciable assets held for charitable purposes ............
Less: Accumulated depreciation ..............................
Land held for investment purposes ............................
Land held for charitable purposes ..............................
Other assets ..........................................................
Total liabilities ........................................................
Accounts payable ...................................................
Contributions , gifts, and grants payable .......................
Mortgages and notes payable ...................................
Other liabilities ..... ..................................................
Net worth ..............................................................
1,433,163
126,916
838,751
279,560
187,937
31,532,249
Total receipts .........................................................
Contributions, gifts, and grants received ......................
Gross dues and assessments ...................................
Interest .................................................................
Dividends ..............................................................
Gross rents and royalties ........................................
Net gain (or loss) from sale of assets .........................
Gross profit from business activities ............................
Other income ..........................................................
5,703,975
2,122,318
4,069
1 ,180 ,643
1,167,147
181,903
734.219
30,454
283,219
Total deductions . ....................................................
Contributions , gifts. and grants paid ............................
Compensation of officers...........................................
Other salaries and wages .........................................
Pension plan contributions .........................................
Other employee benefits ................ ..........................
Investment , legal, and other professional services .........
Interest ............. ....................................................
Taxes ................. ..................................................
.............
Depreciation , amortization, and depletion .......
Rent ....................... .............................................
Other expenses ......................................................
3,362,022
2,777,758
64,696
118,094
11,010
13,387
75,264
15,681
82,186
20,040
14,045
169,855
Net Income (less deficit) ........................................
Net income .............. .............................................
Deficit...................................................................
Total assets (fair market value) ....................................
Information items:
Beginning of year assets, total ..................................
Selected beginning of year assets:
Inventories .. . .. ....................................................
Investments in corporate stock ..............................
Depreciable assets held for investment purposes ......
Less: Accumulated depreciation ..........................
Depreciable assets held for charitable purposes .,,,,,,,,, l
Less: Accumulated depreciation ...............
157,351
3612' :973
86E
-
202
-1,127
(1)
13,682
257
4,422
16
1
$1.000,000
$1 Under
0,000.000
101,902
5,098
27,318
1,374
647
5.597
2.239
4,265
2 ,951
9 ,438
15,404,886
408,679
2,144,264
355,031
162,983
357,425
84,707
356,977
134,366
663,751
'Less than $500.
NOTE: Detail may not add to total because of rounding.
Assets
zero
or not
reported
( 1)
298,430
300,467
61,377
148.981
6,592
22,115
73.237
27.572
41,828
11 ,251
147 ,237
30,721
396,651
2,667
213,528
W
WNSO
ow
:4
mmmom
PP:4:~PSA
HEM
00
mi~OiA
0
W
i~
I
,
0
N
o
W
5-:1 91 P:,!.
8
P
.
0
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i
Private Foundations/ 1979
25
Table II.-Nonoperating Foundations - Selected Balance Sheet and Income Statement Items, and Distributions, by Ratio of
Investment Income to Total Fair Market Value of Assets
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Ratio of investment income to total fair market value of assets
Item
Total
Under 3
percent
3 percent
under
4 percent
4 percent
under
5 percent
5 perce 1
under
6 percent
6 percent
under
7 percent
7 percent
under
8 percent
8 percent
under
9 percent
9 percent
under
10 percent
10 percent
or more
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Number of nonoperating foundations ......
Total assets (book value) ..................................
Selected assets:
Cash, total:
26,970
32,965,412
7,682
3,079,837
1,509
804,417
1,905
2,176,674
2,804
4,075,603
3,270
7,188,475
3,031
5,072,779
2,202
2,927,685
1,225
4,284,904
3,341
3,355,037
Number of foundations .................................
Amount ...................... ...............................
Investments in government obligations, total:
Number of foundations .................................
Amount ......................................................
Investments in corporate bonds:
Number of foundations .................................
Amount ......................................................
Investments in corporate stock:
Number of foundations .................................
Amount ......................................................
24,971
1,821,415
6,138
215,173
1,479
52,625
1,883
103,937
2,752
182,191
3,156
253,279
2,933
257,681
2,151
155,235
1,201
131,514
3,279
469,779
6,108
3,977,883
431
116,345
217
48,880
453
239,257
766
418,910
1,169
923,846
1,200
899,234
824
459,915
354
424,973
695
446.523
9,600
6,823,979
605
663,936
449
63,751
615
357,266
1,224
841,065
1,720
1.709,143
1,672
1,121,064
1,289
643,938
689
735,037
1,338
688,779
13,265
15,404.886
1,433
1,175,779
866
469,892
1,154
1,194,934
1,777
2,012,452
2,121
3,602,481
1,914
2,231,960
1,361
1,260,039
704
2,390,794
1,935
1,066,555
1,433,163
324,836
11,746
134,383
154,493
294,767
107,947
67,897
196,686
140,408
783
838,751
154
24,591
-6,341
46
104,755
74
120,074
127
240,436
94
68,328
85
49,105
49
133,203
135
91,918
659
279,560
31,532,249
406
244,050
2,755,000
21
2,275
792,671
57
7,726
2,042,290
41
5,613
3,921,110
28
2,903
6,893,708
27
5,353
4,964,832
20
3,066
2,859,789
13
2,568
4,088,218
45
6,007
3,214,629
24,539
30.701,179
5,838
2,705,049
1,470
790.712
1,833
2,126,548
2,759
3,718,033
3,178
6.773,661
2,960
4,792,783
2,110
2,811,992
1.202
4,012.883
3,189
2,969,518
9,209
831,070
1,451
49,951
455
1,959
617
-84,258
1.104
203,077
1.533
120,048
1.433
172,049
1,005
47,797
434
75,335
1,176
245,111
25,456
28,799,825
6,439
1,759,900
1,478
683,754
1,850
1,872,263
2,768
3,708,863
3,245
6,659,340
3,007
4,811,460
2,183
2,756,655
1,210
3,852,285
3,277
2,695,306
14,724
2,682,821
2,854
862,154
855
109,536
1,163
161,957
1,683
177,357
1,891
227,314
1,919
166,773
1,473
144,631
778
223,238
2,107
609,861
4,066
683,718
689
223,164
250
22,052
263
27,149
500
91,931
691
92,223
498
100.059
404
10.508
188
57,768
584
58,864
10,728
340,866
3,442
47,509
652
14,653
731
13,072
1,086
28,205
1,353
40,879
1,070
36,224
722
17,068
445
31,016
1.228
112,240
4,674
961
42,708
204
8,019
352
6,006
539
28,835
748
44,290
536
77,236
407
293,247
34.938
285
14,056
641
37,160
25,619
31,532,249
6,416
2,755,000
1,508
792,671
1,905
2,042,290
2,803
3,921,110
3.254
6,893.708
3,026
4,964,832
2,187
2,859,789
1,225
4,088,218
3.295
3.214,629
Total receipts ....................................................
Selected receipts:
Contributions, gilts, and grants received:
Number of foundations .................................
Amount ......................................................
Interest:
Number of foundations ............. ...................
Amount ......................................................
Dividends:
Number of foundations .................................
Amount .............................................
....
5,703,975
1,147,102
189,602
369,063
536,529
778,615
626,117
450,512
525,668
1,080,768
11,780
2,122,318
4,148
792,575
698
128,865
959
164,329
1,119
190,383
1,193
151,757
984
143,223
798
135,897
471
72,327
1,411
342,961
20,717
1,180.643
2,893
42,780
1,339
13,896
1,693
61,478
2,561
129,216
3,094
269,061
2,885
217,765
2,119
137,790
1,177
144,408
2,956
164,249
14,847
1,167.147
1,449
63,188
930
34,604
1,269
109,628
1,948
155,446
2,429
255,861
2,161
201,559
1,566
122,554
782
137,377
2,312
86,930
Net Investment Income .....................................
Distribution Items:
Adjusted net income:
Number of foundations ....................................
3,026,858
49,467
49,396
174,421
292,071
543,119
453,704
312,317
418,505
733,857
20,843
2,413.861
2,331
99,361
1.406
46,608
1,808
172,067
2,656
265,319
3,145
519,532
2,974
426,474
2,159
257,663
1,217
293.948
3,146
332,888
22,590
1,826,335
4,402
102,855
1.281
55,422
1,720
172,101
2,592
242,241
3,132
393,341
2.899
291,829
2,112
174,478
1,195
208,551
3,256
185,516
23,281
2,450,298
4,598
148,682
1,418
56,800
1,813
178,695
2,672
267,003
3,168
508,977
2.974
418,426
2,166
252,732
1,217
287,002
3,256
331,980
24,347
3,233,279
5,569
313,593
1,444
89,570
1,798
215,188
2,740
369,109
3,215
581,729
2,966
463,062
2,132
303,905
1,203
340,313
3.279
556.808
7,854
688,770
1,037
51,547
373
16,636
568
32.431
966
74,727
1,221
117,805
1,299
141,978
876
101,022
455
44,300
1.058
108.324
Total liabilities ...................................................
Selected liabilities:
Contributions, gifts, and grants payable:
Number of foundations .................................
Amount ......................................................
Mortgages and notes payable:
Number of foundations .................................
Amount ......................................................
Net worth (end of year) ....................................
Principal fund:
Number of foundations .................................
Amount ......................................................
Income fund:
Number of foundations .................................
Amount ......................................................
Reconciliation of net worth:
Net worth (beginning of year):
Number of foundations ....................................
Amount .........................................................
Additions to net worth:
Net income:
Number of foundations ...................... ..........
Amount ......................................................
Other increases:
Number of foundations .................................
Amount ......................................................
Subtractions from net worth:
Deficit:
Number of foundations .................................
Amount ......................................................
Other decreases:
Number of foundations .................................
Amount .....................................................
Equals:
Net worth (end of year):
Number of foundations .................................
Amount ......................................................
Amount .........................................................
Minimum investment return:
Number of foundations ....................................
Amount .........................................................
Distributable amount:
Number of foundations ....................................
Amount .........................................................
Qualifying distributions:
Number of foundations ....................................
Amount .........................................................
Undistributed income:
Number of foundations ....................................
Amount .........................................................
*Estimate should be used with caution because of the small number of sample returns on which it was based.
NOTE: Detail may not add to total because of rounding.
I
Private. Foundations/ 1979
26
Table 12. ~ Nonoperating Foundations - Computation of Minimum Investment Return, Distributable Amount, and Qualifying
Distributions, by Size of Total Assets Not Held for Charitable Purposes
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Size of total assets not held for charitable purposes
Assets
aro
or not
reported
(2)
Total
(1)
Number of nonoperating foundations ............
Computation of minimum Investment return:
Fair marketout
value of assets not used directly in
carrying
exempt purposes, total ......................
Monthly average of securities at fair market value...
Monthly average of cash balances: ......................
Fair market value of all other assets ............. : ......
Less: Acquisition indebtedness ................................
Equals: Net fair market value of assets not used
directly in carrying out exempt purposes ................
Less: Cash held for charitable activities....................
Equals: Base for calculating minimum investment
return ..............................................................
Minimum Investment return ..............................
Computation of distributable amount:
Adjusted net income ............................................ 1
Higher of adjusted net income or minimum
investment return ................................................
Minus:
Tax on investment income ..................................
Tax on unrelated business income .......................
.Equals: Distributable amount before adjustments ........
Net adjustments ....................................................
Positive, adjustments:
Number of foundations ....................................
Amount ................................... .....................
Negative adjustments:
Number of foundations ....................................
Amount ........................................................
Equals: Distributable amount, adjusted ......................
Total qualifying distributions ...............................
Disbursements for exempt purposes:
Number of foundations ........................................
Amount .................................................. .........
Program related investments:
Number of foundations ..... . ................................
Amount ...........................................................
Amounts paid to acquire assets used for charitable.
purposes:
Number of foundations .......................................
Amount
Amounts set
...........
aside-*
for...................
charitable purposes:
* * " -- ................
Number of foundations .......................................
Amount ....................................... ...................
Total assets (book value) ...............:....................
Selected assets:
Investments in government obligations ..................
Investments in corporate bonds ...........................
Investments in corporate stock ............................ 1
$1 under
$25.000
$25,000
under
$100.000
$100,600
under
$500,000
$500,000
under
$1,000.000
$1,000,000
under
$10.0w,000
(3)
(4)
(5)
(6)
(7)
$10.000,000
$50,under
ODO,ODO
$50,000.000
or more
'(9)
26,970
4,197
6,403
5,233
6,054
1,808
2,761
412
102
37.293.832
32,798,259
1,344,014
3,151,555
209,113
-
51,215
25,670
22,443
3.102
287,014
193.820
69.059
24,135
1,360
1,431,262
1,084,553
204,747
141,961
7,441
1.273,837
1,029,146
121,613
123,077
5,969
6,204,207
6,847,709
477,776
878,721
36,826
8,284,693
7,075.845
251,895
956.954
119,829
17,761,603
16,541,516
196,482
1,023,606
37.412
37,084.719
557,936
-
50,939
1,042
285,654
4,467
1.423,821
23,798
1,267,868
19.335
8,167,381
123,631
8,164,864
121.286
17,724,191
264,377
36.526,779
1,826,335
-
49,896
2,494
281,186
14,058
1,400,022
70,000
1,248,533
62,426
8,043,750
402,187
8,043,578
402,179
17,459,814
872,991
2,413.861
55.266
5,137
21,380
100,856
87,204
548.241
518,232
1,077,545
-2,502,567
55,554
5,773
23,136
105,709
90.868
568,451
540,896
1,112,180
59,080
4,957
2,438.525
11,772
635
54.919
-85
132
2.451
223
103,033
3,970
2,168
5,627
502
22,633
88,650
1,290
13,777
1,246
553.426
5,885
12,688
1,559
526,648
56
26,727
1,865
1,083,587
386
119
12,581
1
208
.*15
.22
37
4,012
13
.1,291
22
5,937
5
420
4
386
22
808
2,450,298
3,233,279
1
293
54,833
144,681
5.719
57,026
22,813
77,767
107,003
220,097
1
1
89,940
155,56
3
53
559,311
786,505
2
36
526,70
692,584
1,083,973
1,099,065
24,304
3,093,488
2,719
128,255
5,556
55,488
5,038
75,624
5,960
214,521
1,788
152,385
2,731
765,913
-410
673.193
102
1,028,107
-
148
9.463
- -*10
*47
-'120
- *25
39
937
.578
- - -12 _
4.274
- -3
717
2
- -2.591
648
62,025
123
15,820
125
1,164
78
1,442
82
4,036
60
2,532
119
13,537
34
13,445
27
10,048
163
68,302
'32,965,412
36
476
1,029,815
105,800
342,622
36
603
1,487,228
6
68
1,247,462
16
2,782
7,709,609
2
5,228
7,613,664
3
58,318
13,429,212
82,048
11 8,321
341,579
3,929
8,062
20,774
24,073
49,428
97,5581
160,799
5.2:5523:1
263
156,682
42 4.:~
57 776
!611
1,040,657
1,6132,.9
3,095,7401
1,053,384
2,03.,907
.3,118,8501
1.456.310
2,433,304
7,779,587
3,977.883
156:41 .234: 8.
9 7:1
.
*Estimate should be used vOth caution because of the small number of sample returns on
' Less than $500.
NOTE: Detail may not add to total because of rounding:
-
hich it
as based.
27
Private Foundations/ 1979
Table 13.-Nonoperating Foundations - Computation of Minimum Investment Return, Distributable Amount, and Qualifying
Distributions, by Ratio of Qualifying Distributions to Total Assets Not Held for Charitable Purposes
[All figures are estimates based on samples - money amounts are in thousands of dollars]
Ratio of qualifying distributions to total assets
Item
Number of nonoperating foundations ......
Computation of minimum Investment return:
Fair market value of assets not used directly in
carrying out exempt purposes, total ...............
Monthly average of securities at fair market
*
value .....................................................
Monthly average of cash balances..................
Fair market value of all other assets ..............
Less: Acquisition indebtedness ..........................
Equals: Net fair market value of assets not used
directly in carrying out exempt purposes ..........
Less: Cash held for charitable activities ..............
Equals: Base for calculating minimum investment
return ........................................................
Minimum Investment return ........................
Computation of distributable amount:
Adjusted net income ......................................
Higher of adjusted net income or minimum
investment return ........................................
Minus:
Tax on investment income ...........................
Tax on unrelated business income .................
Equals: Distributable amount before adjustments..
Net adjustments ............................................
Positive adjustments:
Number of foundations ..............................
Amount ..................................................
Negative adjustments:
Number.of foundations ..............................
Amount ..................................................
Equals: Distributable amount, adjusted ................
Total qualifying distributions..........................
Disbursements for exempt purposes:
Number of foundations ................................
Amount .....................................................
Program related investments:
Number of foundations ................................
Amount .....................................................
Amounts paid to acquire assets used for
charitable purposes:
Number of foundations ................................
Amount.....................................................
Amounts set aside for charitable purposes:
Number of foundations .................................
Amount......................................................
Total assets (book value) ..............................
Selected assets:
Investments in government obligations.............
Investments in corporate bonds ......................
Investments in corporate stock.......................
Total
under 3
percent
3 percent
under
4 percent
(2)
(3)
4 percent
5 under
percent
(4)
5
c rd
6 under
percent
(5)
6 percent
under
7 percent
7 percent
8 under
percent
8 percent
under
9 percent
9 percent
under
10 percent
10 percent
or more
(6)
(7)
(a)
(9)
(10)
26,970
6,870
886
1,495
2,345
2,469
1,988
1,240
907
8,770
37,293,832
1,517.985
2,534,086
4.625.639
8,667,819
9,507,499
3,807.388
1,348,480
710,980
4,573,955
32.798,259
1,344,014
3,151,555
209,113
1,010.533
105,438
402,014
91,572
2,333,769
92.610
107,708
11,909
4.031.665
125,757
468,217
11,944
7,818,359
214,342
635,118
21,784
8,783,400
163,265
560,834
3,689
3,474,078
123,070
210,240
1,932
1,156,772
70.052
121,656
1,108
576,106
43,543
91,332
1,292
3,613,577
405,937
554,439
63,884
37,084,719
557,936
1,426,413
21,228
2,522,178
37,715
4,613,694
67,801
8.646,035
130,299
9,503,811
141.834
3,805.456
57,530
1,347,373
20,447
709,688
10,581
4,510,070
70,501
36,526,779
1,826,335
1,405,185
70,259
2,484,463
124,223
4.545,893
227,294
8,515,736
425,786
9.361.976
468,098
3,747,926
187,396
1,326.925
66,346
699,107
34,955
4,439,568
221,977
2,413,861
125,789
118,327
2WO80
496,854
618,567
283,500
96,128
53,046
365,572
2,502,567
138,760
136,253
269,493
520,983
625,550
286,868
96,903
54,002
373,754
59,080
4,957
2,438.525
11,772
2,842
710
135,208
30
3,160
7,498
261,896
394
15,045
522
609,983
5,992
-1,575
279,301
264
1,202
133,077
-358
12,059
1,274
507,650
397
9,101
609
364,043
9,165
119
12,581
*314
1
(1)
5
19
6
2,181
.8
94,714
- 1,386
.9
447
403
529
264
1.386
2
53
262,290
211,409
1
6
508,047
478,248
610,512
607,321
279,5CA
284,868
96.101
114,227
1
1
52,680
66,967
373,208
1,210,627
2,345
436,713
2.462
580,659
1.986
283,400
1,240
112,274
907
65,036
8,762
1,164,360
-7
-2,731
-5
-7
-2
84
5,182
27
981
.9
18
1,565
244
32,584
1,266,392
676,402
78
8,501
4,633,101
22
808
2,450,298
3,233,279
135,177
168,469
1
358
132,719
91,142
24,304
3,093,488
4.220
1SI,940
886
90,742
1.495
208,364
-7
.5
2
114
148
9,463
-
52,655
.5
648
62,025
150
15,902
27
195
72
2.757
41
5,643
55
1,236
14
962
163
302
32,965,41
W. 2
40
487
2,711,079
1,492,569
2
174
3,842,235
-5
-35,722
6,605,745
*22,694
8,784,941
3
104
2,9S2,947
3,977,883
6,823,979
15,404,881
258,034
661611
73.:29,1
204,862
7%16: 53
7 32,
21
410,394
737.171,
1,967,3321
753,002
1,332 :439
3.43 9902
930,167
1 58
4: :55: 3'
510,357
177,273
109,798
J,Z;,0:g
63 q
323 14~1
131:
91 61
213
'78 :15'2
141
'Estimate should be used with caution because of the small number of sample returns on which it was based.
'Less than $500.
NOTE: Detail may not add to total because of rounding.
53
9,211
-6
623,994
840,032
1,475.574
I
Private Foundations, 1979
28
GLOSSARY OF TERMS
Non-technical terminology has been used in this
article, wherever possible, to assist the underHowever, in
standing of the statistical content.
Tables 1-13 the technical terms aie used as they.
appear on the tax return form. Therefore, to assist
users of these data, explanations of some of these
terms are provided with both their technical and nontechnical meanings.
(The latter are denoted in
parentheses.) A more comprehensive glossary of terms
appears in Statistics of Ihcome--1974-1978, Private
Foundations r5T.Adjusted Net Income (Receipts Less Expenses)
This Jtem represented the excess of the gross
income derived from, or in connection with, property.
held by the foundation reduced by allowable deductions. It included investment income, net'short-term
capital gain, repayment of "qualifying distributions,"
gross profit from business activities, and certain
Excluded from income were
miscellaneous income.
gross contributions, gifts and' grants (received),
contributions from split-interest trusts, gross dues
and assessments, net long-term capital gain, and net
gain or.loss from the sale of nonbusiness.assets.
The amount of adjusted net income was one of the
amounts used in determining the amount of charitable
distributions that the foundation was required to
make.
Distributable-Amount-(Required-Minimum Distribution)
Distributable amount was the greater of the foundations' I'minimum investment return" or "adjusted net
income," less taxes on net investment income and
unrelated business income, and net of any adjustments.
Distributable amount represented the minimum payout
which had to be distributed by the end of - the year'
after the year for which the return was filed in
order to avoid payment of an excise tax for failure
to currently distribute income.,
Expenditures for Exempt
Charitable Spending)
Purposes
(Philanthropic
or
These
deductions
represented
expenditures
for
activities that were directly related to the taxexempt purposes of the foundation.
Included were
necessary and reasonable administrative expenses paid
for charitable, scientific, educational, or other
These amounts were determined
similar purposes.
solely on the cash receipts -and disbursements method
of accounting.
Minimum Investment Return (Fixed Percent of Assets)
This was the aggregate fair market value of assets
not used for charitable purposes less the sum of
indebtedness incurred to acquire those assets and
,cash held for charitable activities, multiplied by a
For taxable
specified percentage of total assets.
years beginning after December 31, 1975, and all
5
the percentage
was set at
succeeding years,
percent.
The rate was subject to change by the
Secretary of the Treasury each year depending on
money market interest rates and investment yields.
If the minimum investment return exceeded the
"adjusted net income," it became the basis for calcul-
ating the "distributable amount."
The purpose of
establishing a minimum investment return was to
insure that a foundation distributed for charitable
purposes at least a specified percentage 'of its noncharitable assets, (i.e., assets held for investment
purposes).
Nonoperating Foundations
Nonoperating foundations were organizations that
carried on their charitable activities in an indirect
manner by making grants to other organizations that
were
directly engaged
in
charitable activities,
rather than engaging in charitable activities themselves.
Operating Foundations
These were private foundations that spent at least
85 percent of their adjusted net income directly on
the conduct of the activities constituting
the
purpose or function for which they were exempt (the
"income test").
In addition to the income test,
operating foundations must have met one of the
following tests:
the "assets test," the "endowment
test," or the "support test".
A) Foundations met the "assets test" if 65,percent
or more of their assets were devoted directly to taxexempt
activities
or
to
functionally
related
businesses that were related to the exempt purpose of
the foundation.
B)
Foundations met the "endowment test" if they
made qualifying distributions directly related to the
active conduct of their tax-exempt function, of at
least two-thirds of their "minimum investment return."
C)
Foundations met the "support test" if at least
85 percent of their support (exclusive of gross
investment income) came from at least five unrelated
tax-exempt organizations or from the general public
(or both) . * In addition, no more than 25 percent of
their support (exclusive of gross inve stment income)
was derived from any one such exempt organization
*
and
no more than half of. their support was derived from
gross investment income.
Qualifying Distributions (Actual Distributions)
These were direct
expenditures . for charitable
purposes or for assets used for such purposes. They
included payouts to public charities and operating
foundations, and payouts to other private foundations,
if the recipient foundation agreed to distribute the
same amount for charitable purposes by the end of the
following tax year. In addition, funds set aside for
major
tax-exempt
projects
were
also
included.
Qualifying distributions were creditable against a
private foundation's, obligation to pay out its "distributable amount."
Value of Noncharitable Assets (Investment Assets)
For purposes of calculating I'm inimum investment
return," only the assets that were ' not used or held
for use for exempt purposes entered the computation.
An asset was not used.directly in carrying out the
foundation's exempt purpose if the asset was not used
in the carrying on of a charitable, educational or
other similar function which gave rise to the exempt
status of the foundation.
I
Private Foundations, 1979
BIBLIOGRAPHICAL REFERENCES AND NOTES
29
[11 Bremner, Robert H., "Private Philanthrophy* and
Public
Needs:
Historical
Perspective,"
in
Research Papers SponsoreSLbfitt~
PuE
e Commission on-
9] Rudney, Gabriel G., ."The Scope of the Private
Voluntary Charitable Sector," in Research Papers
Sponsored
by
the
Commission
on
Private
and
Public
Needs
Volu-m-e _-7,
Philanthrophy
ory Trends, ana Uurrent Maqnitude
L
, U.S.
Department of the Treasury, 1975.
d Current Maqn1tudes,
Department of the Treasury, 1975.
[10] Social Security Administration, Social Security
Bulletin, selected issues, 1976-1981.
Private P~Ilanthro%
Tren s.
and
eds, Volume 1,
U.S.
[21 Commerce Clearing House, The Private Foundation
and the Tax Reform Act, 1970.
[31 Council
on Foundations,
Inc.
(Chairman and
Staff), "Private Foundations and the 1969 Tax
Reform Act," in Research Papers Sponsored by the
Commission on Private Philanthr2ey and Purilic
Needs, Volu-m-e-IM, --Special Behavioral Studies
o
Foundations and Corporations, U.S. Department~~
the Treasury, 1977.
[41 Internal Revenue Service, "Private
Handbook," Internal Revenue Manual
Government Printing Office, 1975.
Foundations
7752, U.S.
[5] Internal Revenue Service, Statistics of Income-1974-1978,
Private
Foundations,
Publication
1073, U.S. Government Printing Office, 1981.
[61 Nielsen, Waldemar A., The Big Foundations, 1972.
[71 Petska, Thomas B., "The Private Foundation in a
Pluralistic Society," 1982 Proceedings of the
American Statistical Association,
Section on
Survey Research Methods, (forthcoming).
(81 Petska, Thomas B., and Skelly, Daniel, "Private
Foundations, Federal Tax Law, and Philanthropic
Activity: An IRS Perspective," 1981 Proceedings
of the American Statistical Association, Section
an Survey Research Methods, 1982.
[111 Steuerle,
Eugene,
"Pay-Out
Requirements
for
Foundations," in Research tpp
. SRonsored b
the Commission on
Priva
W1 antnropy
Publ~2
.es, lej~sutdaF.gns
Volume 51,1,1, Special Behavioral
Uorporations,
U.S.
Department or the Treasury, 1977.
[121 Sullivan, John, and Coleman, Michael, "Nonprofit
Organizations, 1975-1978,11 SOI Bulletin, Volume
I, Number 2.
[131 Treusch, Paul E., and Sugarman, Norman A., TaxExempt Charitable Organizations, 1979.
[141 U.S. Department of Commerce, Bureau of Economic
and
Product
Analysis,
The
National
Income
Accounts of the United States, 192
II, Statistical Tables, 1981.
[151 U.S. Department of Commerce,
Analysis, Survey of Current
issues, 198rT9-82.
bureau of Economic
Business, selected
[161 U.S.
Department
of the
Treasury,
"Treasury
Department Report on Private Foundations," U.S.
Government Printing Office, 1965.
(This report
the
information
cited
here
on
contains
foundations for 1962.)
(171 U.S. House of Representatives
1860, 75th Congress, 1939.
Report
Number
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