# An Examination of Private Foundations for 1979 > Briefs, arguments, decisions, and more. URL: https://www.frixlaw.com/law-library/documents/agency%3Airs%3Abb5ff11e4f1abf2a ## Record - **Collection:** Agency decision - **Document type:** Agency decision ## Text 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 'N -0 mmmm.-~ N 0 W ~ I w ca mm Nop 4 RN 1 P5.s" w . . W~ ON p I J . J I . -4'8'0 .0 jp .~4mh) . J I IMONO J . I S,4 mo .-"8 N. P -. -wWi; . . . . J . mom . N N V40 -4 -11 - 1 to P. N - W J - - - - 0 0- 'Wp~ s. fo p 0 - :4,p - - 0izTV9l -~~80 N~M4 WN WWWO . H - 1 (n I0 - -4 : : . . 80 'ce PS . wggs 4 : 9 :. c 2!2 ; : : : : : ; 9: ST 791~ 96 N - ON 019- . ~@ . . . N" . .W . . 0 . . 0 CD 0 o p Ch : . - i~t 0 0 foww~- . : -4 w ; 010 'b WWONQ 8 W N rl) 0 PD 0 8 Vb's 4n A:~, . 4" I H 10 - . N. . 1 W4 : cr. W Ct Z C pit 3 FLA- I'mffl~g 'S' : "HOHM 99M. g . i; . . . . . N-1 Ogg!M-1-M .W .N .N . . ";S 8 . .m . N 9-110-ISI.-O I-WHE his ~82,mw T 9 : Fung HIP. Fir9 lg -I . 0. -'siat -910T la-H m4al 00" 31 '8 ~IRWMW "I 1( 8.9M ... (3 a-I bitMr.W 9§ 1 :-t 9 iE Im .1 0 MA '89'" 0 '4~g 0 E2 ZN,. 'low TM' 0 -W 0) M41K) EflO 8 8101010 !g mmm "~~a 000-01,88 TvUm I NO MWI W 1 T-4 NO;.ON~ R hP 2-'48~ -.iv ;;Oa 8-4 C)O40 bM 0 " "" ON om W D83 8, R 80ms W W_ 910 0 W M WO! N 0 W, O."o. -4 0 W m Su ft-q f 0IE HHE fillid, I z -a 2 s -g T 3 i19 § g p§ T n 8 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 --- Source: Frix Law Library, https://www.frixlaw.com/law-library/documents/agency%3Airs%3Abb5ff11e4f1abf2a. Public record. Not legal advice.