Office of Tax Analysis 

U.S. Treasury Department 

Washington, D. C. 20220 

Issued: June, 1976 

Financial Data For Tax Exempt 

Charitable Organizations 

John Copeland 

U. S. Treasury Department 

OTA Paper 5 August, 1975 

TABLE OF CONTENTS 

Page 

I. Introduction..................... 1 

I1. Coverage of Tabulations ............... 2 

I11. Summary of Tabulations ............... 4 

IV. Comparison of 1962 and 1973 Surveys ......... 6 

V . Distribution by Size of Assets............ 8 

VI. Receipts and Expenditures .............. 9 

VI1. Statistical Methodology ...............11 

Finally, the Form 990-PF returns for foundations constitutes an 

incomplete coverage of the foundation category because nonexempt 

trusts with charitable purposes are not included. Nonexempt trusts 

whose interests are entirely devoted to religious, charitable, and 

educational purposes -4’ are distinguishable in function from 

private foundations only by their lack of exemption. Trusts with 

both private and charitable beneficiaries (split interest trusts) 

have the attributes of a private foundation to the extent of the 

charitable interest. Nonexempt trusts with charitable interests are 

required to file Form 1041-PF. These have not been analyzed, but about 

8,000 are filed each year. 

this group. 

There may be considerable underfiling in 

In spite of the incompleteness of the coverage thus noted, the 

tables presented here reflect the best available current information 

from Treasury data on section 501(c)(3) organizations. The compliance 

rate for private foundations is probably high because of the extensive 

publicity given to the changes in the tax treatment of these organizations by the 1969 Act. 
-4-

111. SUMMARY OF TABULATIONS 

Table I summarizes the data on number of returns, assets and 

receipts. Private foundations are shown separately. Of the total 

of 119,380 returns, 29,255 were for foundations .and 90,125 for other 

religious, charitable, and educational Organizations.' The latter 

figure is an understatement because "group returns" are counted as 

a single return. Total assets were $125.8 billion with $27.2 billion 

(22 percent) reported by foundations and $98.6 billion by the other 

organizations. The value of the assets represents the value used for 

purposes of the organizations' own books. Except for certain security 

holdings, the figures are unlikely to reflect current market values. 

Total receipts from all sources, including gifts and bequests, 

were $60.7 billion. This involves some double counting because many 

of the grants by foundations were reported as receipts by colleges, 

hospitals, and similar organizations. Foundations accounted for $3.7 

billion of the $60.7 billion total, while other organizations accounted 

for $57.1 billion. Foundations comprise a much smaller proportion of 

the aggregate receipts than assets because most foundations are financed 

by gifts, bequests and investment income while the other organizations 

often carry on activities financed by fees and charges, (for example, 

schools and hospitals). 

In the case of foundations, 73 percent of total receipts was 

derived from gifts and investment income. A comparative figure cannot 

be derived for the other 501(c)(3) organizations because of inadequate 

data on their investment income. 
I. INTRODUCTION 

The returns on Form 990 required to be filed by many of the 

organizations exempt under section 501(c) of the Internal Revenue Code 

contain financial data on the "charitable" aspect of our economy that 

have been tabulated only a few times in the past 30 years. However, in 

recent years the Internal F.evenue Service has been placing on a computer 

tape certain items from the Form 990's. This paper attempts to summarize 

this information for returns for organizations exempt under section 

501(c)(3). The data on number of returns, assets, and gross receipts 

are for returns filed up through the latter part of 1974, which means 

that generally the returns are for calendar year 1973 or for fiscal 

years ending in the early part of 1974. - The additional details of 

income and expenditures are estimates based on a tabulation of returns 

filed covering calendar year 1972 and fiscal years ending early in 1973. 

As will be explained later, the tabulations for 1972 contain many 

inaccuracies, but they were the only material available for use at this 

time. 
-2-

11. COVERAGE OF TABULATIONS 

Form 990 returns provide an incomplete picture of the number and 

scope of charitable, religious, and educational organizations for 

three reasons. First, returns are not required to be filed by churches, 

their integrated auxiliaries, conventions or associations of churches, 

and the exclusively religious activities of any religious order. The 

exemption for churches and related religious organizations results in 

a significant gap. We know that the number of parishes, over 300,0002/ -

far exceeds the number of other 501(c)(3) organizations--at least the 

number that file returns. Gifts and bequests to churches and religious 

organizations also constitute by far the largest single outlet for 

I1 charitable" gifts and bequests, making up over 40 percent of the total, 3/ 

Aside from the omission of churches per se, the exemption from filing 

for integrated auxiliaries of churches can serve to excuse from filing 

some types of organizations which ordinarily are not recognized as a 

religious activity, for example, a hospital operated by a religious 

society. 

Secondly, organizations, other than private foundations, whose 

gross receipts in each taxable year are normally not more than $5,000 

are not required to file returns. However, the Internal Revenue 

Service asked those so exempt to file a return for 1972 with a notation 

that their gross receipts were not more than $5,000 so that the Service 

could have a record of the reason for future nonfilings. Many organizations did so file, and many filled out the financial data even though 

not required to do so, But the number of organizations in the under 

$5,000 category which did not file is unknown. 
-5-

It should be noted that the relative importance of gifts and 

investment income for foundations is somewhat overstated because of 

the way Form 990-PF is designed. The form (Part I, line 1) does not 

ask for receipts from business activities but for "Gross profit from 

business activities." This is gross receipts less "cost of goods sold," 

the latter being an ill-defined term. The "gross receipts" of the 

nonfoundation group of organizations is really total receipts from all 

sources. 

Organizations other than foundations had an excess of receipts 

over expenditures of $6.4 billion which was somewhat less than half of 

gifts and contributions received of $12.9 billion. In other words, the 

nonfoundation organizations on the average depended on gifts and contributions for part of their operating expenses. Expenditure data for 

foundations could not be used because of tabulation errors. 

Net investment income vas tabulated only for foundations. Net investment income is that reported for purposes of the 4 percent tax on 

investment income. ' The estimate for 1973 of $1.7 billion (derived 

from 1972 data in a manner described later) represented 6.2 percent of 

year end assets. The tax on net investment income was estimated to be 

$69.7 million, or 4.1 percent of the estimated net investment income.-61 

The estimated tax is practically the same as the collection figure of 

$69.8 million reported by the Treasury for fiscal 1974. However, in 

view of the problems associated with the construction of the table, it 

is possible that the agreement of the two investment income tax figures 

is merely cbfneidental. 
-6-

IV. COMPARISON OF 1962 AND 1973 SURVEYS 

In 1965 the Treasury Department issued a study on foundations which 

contained financial data derived from a survey covering the year 1962.L/ 

The study was intended to represent the universe of some 15,000 foundations which were accounted for by a tabulation by the Foundation Library 

Center from Form 990 returns. As shown in Table 2, the 1973 tabulation 

shows a much larger universe than in 1962. The number of foundations 

is nearly twice as large, 29,255 versus 14,865;and assets, using the ledger 

value for 1962, more than doubled, from $11.6 billion to $27.2 billion. 

However, the market value of assets increased in the 12 years by only 68 

percent, from $16.3 billion to $27.2 billion. Total receipts increased 

by 93 percent, from $1.9 billion to $3.7 billion. Investment income 

(including capital gains) increased by 58 percent. The one statistic 

that showed very little growth was gifts and contributions. They -re 

estimated to be $833 million in 1962 and $995 million in 1973, an 

increase of less than 20 percent. 

The obvious question that arises when comparing the 1962 and 1973 

data is whether the great increase in the number of foundations over the 

11 year period represents a true increase or rather undercounting for 

1962. It probably represents some of both, plus a third factor--a 

difference in the definition of what constitutes a foundation. Prior to 

the Tax Reform Act of 1969 there was some laxity by foundations in filing 

returns. The publicity associated with the passage of this law, plus the 

enactment of a monetary penalty for nonfiling, should have corrected this 

situation. But we also know from the 1965 study that there was an 

explosion in the establishment of private foundations between 1940 and 1960. 
-7-

If the rate at which foundations were being established in the 1940's

and 1950's '

had continued in the 1960's, practically all of the 

increase in numbers between 1962 and 1973 might have been accounted for 

by newly established foundations. Finally, there is the matter of ' 

definition. The list of foundations kept by the Foundation Library Center 

excluded organizations "which are restricted by charter solely to afding 

one or several named institutions; or which function as endowments set up 

for special purposes within colleges, churches, or other organizations 

and are governed by the trustees of the parent institution." -9/ 

Some of the organizations described in the first clause are private 

foundations under the terms of the 1969 law, but their importance in 

the 1973 tabulation is unknown. 
-8-

V. DISTRIBUTION BY SIZE OF ASSETS 

Table 3, which is based on Tables 4 and 5, gives a summary view 

of the relative distribution of the number of returns, assets, and 

receipts of foundations and other 501(c)(3) organizations by size of 

assets. Since some organizations neglected to fill out their balance 

sheets, it was necessary to include a zero asset category which accounted 

for 5.3 percent of the foundation returns and 14.7 percent of the other. 

returns. Those lacking balance sheets were not very important except 

in terms of number of units. Only 0.6 percent of the receipts of the 

nonfoundations were accounted for by those returns without balancesheets,=/ For the foundations, the ratio was 1.1 percent. 

Assuming that those without balance sheets generally have few assets 

(say under $lO,OOO), we find that the size distribution, as would be 

expected, is weighted toward the low side in terms of number of units and 

toward the high side in terms of assets or receipts. 

The under $10,000 asset categories include nearly 49 percent of the 

nonfoundation units but only 29 percent of the foundations. Some 1.9 

percent of nonfoundation units had assets of $10 million and over, while 

1.2 percent of foundations belonged to this category. 

Reported assets of units with less than $10,000 are inconsequential 

in both categories. As to receipts, units of this size account for 1.6 

percent (nonfoundations) and 2.3 percent (foundations) of the total, 

The concentration at the upper end of the scale is greater in the case of 

the nonfoundation group. Over 70 percent of the assets and over 60 percent 

of the receipts are accounted for by units with assets of $10 million and 

over. For foundations, the ratios are 64 percent of the assets and 49 

percent of the receipts. 
- 11 -

VII. STATISTICAL METHODOLOGY 

Information from 1973 returns was available for the number of 

returns, assets, and gross receipts classified by size of assets. 

Foundations were further divided into operating, nonoperating, and 

unclassified. In the case of nonfoundation returns, the tabulations 

covered only returns showing assets of $5,000 or more. 

To fill in the other receipt and expenditure items shown in the 

tables, plus the under $5,000 category (or no asset returns) for other 

than foundations, recourse was had to a tabulation of 1972 returns by 

asset size classes. The reconstruction of the sources of 

receipts (except investment income) and types of expenditures for 1973 

was made by applying the ratio of these items to total receipts in 1972 

by size classes to the 1973 total receipts figures in each size class. 

Investment income for foundations was derived by applying the rate of 

return on assets by size classes in 1972 returns to 1973 asset figures, 

and the investment income tax was computed by applying the effective 

rate of tax shown in 1972 to the investment income computed for 1973. 

Reconstructing the under $5,000 and blank asset returns for other 

than foundations for 1973 was done by taking the 1972 data for number of 

returns, assets, and gross receipts for these size categories as a 

percent of the totals of these items for the 1972 data, exclusive of these 

size categories. The ratios then were applied to the 1973 data to 

estimate the blank and under $5,000 asset size categories not tabulated 

for 1973. 

Since there was only a year's lag between the two sets of returns, 

it is unlikely that the relative size distribution of returns, assets, 

and gross receipts varied too greatly between the two periods. 
- 12 -

On the whole, the relative importance of sources of income and distribution of expenses is not likely to have varied greatly either. 

The real problems in using the 1972 tabulations to reconstruct 

details of receipts and expenses, and investment income from the 1973 

data are two fold. In the first place, the 1972 data were not checked 

after being punched. Merely looking at the computer printouts, a few 

figures can be spotted which are evidently wrong. Where it was apparent 

that the key puncher added or subtracted a digit at the beginning 

of a number, the figures were corrected. Other cases were used as 

shown in the printout because, even though undoubtedly wrong, there 

was no way of deciding what the correct answer was. Thus, one figure 

that was not changed that seems highly questionable is that for "Dues 

and assessments" for nonoperating foundations in the $10,000 to $25,000 

asset class. The figure for "Gifts" in the $100,000 to $500,000asset 

class of other 501(c)(3) organizations is even more suspect. 

While, as stated earlier, the estimates of investment income and 

the tax on investment income are consistent with the reported figures 

on collection from this tax, this statement applies only to the totals. 

Looking at the figures (Table 5) for the three categories of foundations by asset classes, one immediately notes dubious figures. Some 

effective rates of tax differ considerably from the flat 4 percent 

rate and some rates of return on assets appear unrealistic. 
-9-

VI. RECEIPTS N EXPENDITURES 

Tables 4 and 5 provide all the available detail as to receipts and 

expenditures by size of assets. Foundations also are separated 

between operating and nonoperating with a further tabulation for foundations whose status had not yet been determined. Most of this universe 

is accounted for by the nonoperating foundations. 

Because of weaknesses in the original data, it is not possible to 

take the computations as to various types of receipts and expenditures 

and present them as a definitive picture of the situation in 1973. Keeping 

this caveat in mind, it seems reasonable to draw a few broad conclusions 

from the tabulations. 

In the nonfoundation category, the importance of gifts, grants, and 

so forth varied inversely with the size of the organization. At the 

$10 million and over asset level, gifts constituted less than 17 percent 

of gross receipts but at the under $10,000level the rate was about 

46 percent. The larger organizations undoubtedly derived much of their 

income from charges and fees for goods and services, but detail to this 

effect was not tabulated. A similar inverse relationship of gifts to 

gross receipts is not noticeable in the case of foundations. The small 

foundations (under $10,000of assets) counted on gifts for over 60 percent 

of gross receipts. At the $10 million and over level, gifts were less 

than 18 percent of gross receipts. 

Investment income of foundations, as would be expected, is an 

important component of gross receipts. For all foundations, the ratio 

was 46 percent. Because gifts and contributions vary inversely in 

importance with the size of a foundation, the importance of investment 
- 10 -

income tends to be correlated with size. For the under $10,000 asset 

category, investment income was only 18.5 percent of gross receipts. 

At the $10 million and over asset level, it was 55 percent. 

Organizations other than foundations, as noted earlier, reported 

an excess of receipts over expenditures equal to 11 percent of receipts. 

No size class showed an excess of expenditures over receipts. The excess 

of receipts over expenditures did grow in relative importance as the 

organizations increased in size. For the under $10,000 asset group, 

the excess was only 3.5 percent of receipts. The top size groups, over 

$10 million of assets, retained 11 percent of receipts, the average 

for the whole group. 
- 13 -

Fortunately those aberrations are concentrated in size categories that 

have little weight in the aggregate. 

Another question that deserves consideration is the use of the 

computed rate of return on 1972 assets to estimate 1973 investment 

income. If the asset figures represent current market value at the 

end of the year, the use of the rate of return computed from 1972 

investment income and year end 1972 assets should result in too low an 

investment income estimate for 1973, Interest rates and dividend yields 

were somewhat lower in 1972 than in 1973 and security prices were 

higher. -11’ Stock prices particularly declined sharply from the end 

of 1972 to the end of 1973, On the other hand, the asset figures could 

be ledger values which were not adjusted to market changes. In this 

case, the estimate for 1973 need not be very far off. 

One further comment as to the validity of the 1972 data. Due to 

a confusion in instructions, the 1972 data do not represent a single count 

of each return. Each organization filing Form 990 or 990-PF was asked 

to list on its return its principal activities -- up to a maximum of 

three. All returns were identified as to activities so listed, and each 

return could receive a weight of 1, 2, or 3. However, the multiple 

counting procedure may not have unduly distorted the ratios computed 

from the 1972 data, The gift and contribution figure (taking into 

consideration the fact that double counting is-involved in our tabulations) is not inconsistent with the estimates by the American 

Association of Fund Raising Counsel, Inc., and the investment income 

figure is consistent with the investment tax collection figures. 
- 14 -

FOOTNOTES 

'Th re also could be some delinquent returns for prior periods. 

2

Statistical Abstract of the United States, 1974, P.46. 

3

American Association of Fund-Raising Counsel, Inc., Giving USA, 

1975 Annual Report, p.7. 

4

Characterized as "charitable trusts" in section 4947 (a)(l> of the 

Internal Revenue Code. 

5

Taxable investment income does not include interest on tax exempt 

bonds. It would be expected that foundations would hold few such securities. 

The capital gains element reported on the form is less than actual gains. 

6

.As will be shown later, actual effective rates for subdivisions of 

the total vary inexplicably from the 4 percent rate. 

7

Treasury Department Report on Private Foundations, February 2, 1965. 

8

Treasury Department Report, 2.G.,p.76. 

'Ibid. -, p.77. 

10The ratio is understated because some returns also did not fill 

in the income statement. 

11

See data in Statistical Abstract of the United States, 1974, p.465. 
Tcble 1 

Summary financial data from Form 990 for private foundations 

and other charitable, religious, and educational organleatione, 1973 

(Dollar amounts in thousands) 

: Gross receipts .. : Excess of : 

: Number : Assets - : : Total : receipts : Tax on 

: of : end of : : expendi- : over : investment :returns :. year Investment :Contributiarsi : tures : expendi- : income : Tow :incomeg :gifts; etc. : ~ues : tures :&I* 

Cheritable, religious, educational, 90,125 $ 98,587,306 $57,059,309 

except fOUndetiOM 

Faadations 

Nonoperating

Operating

Unclassified 

Total 

Grand total ll9,380 125,832,536 60,706,775 

Office of the Secretary of the Treasury Office of Tu Analysis 

. Source: Special tabulation of Form 990 returns. 

$12,886.165 $1,354,039 $50,652,502 $6,406,806 $ o 

63,512 

4,685

1,455

69,652 

69,652 

August 12, 1975 

&' Gross receipts for foundations are understated because they include only "gross mofits" from business activities. 9 Net investment income as computed under section 4940 of the Inteanal Revenue Code. Excludes municipal bond interest 

and.includes capital gains on the basis set forth in section 4940. 
Table 2 

Comparison of bata for Private Foundations from 

Treasury Study for 1962 and 1973 Form 990-PF Returns 

(Dollar amounts in thousands) 

: 

:Excess of : Investment : Gifts, : Investment 

: Number of : Assets : Gross : Total ex- :receipts : income : grants, : income 

: foundations : : receipts : penditures:over ex- : (including : etc. : as percent 

Year 

:penditures : capital : received: of assets 

: gains) 

. I

1 1

1962 14,865 $11,648,005 $1,898,000 $1,012,000 $ 886 ,000 $1,065,000 $833,000 9.1% 

21 

16,262,005 6.5 

31 41 

1973 29,255 27,245,235 3,667,466 1,681,763 994,813 6.2 

Office of the Secretary of the Treasury 

Office of Tax Analysis 

August 12, 1975 

Sources: 1962: Treasury Department Report on Private Foundations, February 2, 1965, pp. 79 and 80. 

1973: Table 1. 

-11 Ledger value, beginning of year.

-2 / Market value, beginning of year. 

-31 End of year. 

-41 Capital gains as defined under section 4940 of the Internal Revenue Code. 

Municipal bond interest not included. 
Table 3 

Distribution by Size of Assets of Charitable, Religious, and Educational 

Organizations and Private Foundations, 1973 

.. 

: Number of Returns Assets Gross Receipts 

Asset size 

(000) &I 

: Other (c)(3) : Foundations : Other (c)(3) : Foundations : Other (c)(3) : Foundations 

: organizations : : organizations: : organizations : 

$ 0 

1 to 5 

5 to 10 

10 to 25 

25 to 100 

100 to 500 

500 to 1,000 

1,000 to 10,000 

10,000 to 50,000 

50,000 and over 

14.7% 5.3% -% -% 0.6% 1.1% 

27.0 17.4 -21 -21 0.5 0.8 

6.9 6.1 -21 -21 0.4 0.4 

9.6 11.8 0.1 0.2 0.9 0.9 

14.5 22.6 0.7 1.3 2.4 3.0 

13.4 21.8 2.9 5.4 5.4 8.4 

4.1 5.8 2.7 4.4 3.5 6.0 

7.7 8.0 22.6 24.4 25.3 30.9 

1.6 1.0 30.3 22.6 31.1 26.8 

0.3 0.2 40.7 41.5 29.8 21.8 

Office of the Secretary of the Treasury August 12, 1975 

Office of Tax Analysis 

Source: Tables 4 and 5. 

-11 "0" means that balance sheet was not filled out. 

-21 Less than 0.05 percent. 

NOTE: Columns will not add to 100 percent because of rounding. 
Table 4 

Financial data for charitable, religious, and educational organizations 

(other than private foundations) by asset size, 1973 

Gross receipts Emenditures 

Asset :Number of :Assets - end: :rxc,ss GI' ::--?se 

size r/ :returns :of yesr : I I ~ ~ :Dues ~ ~ana~ - :Cost of :Expenses at- :Disbursemeants: :receipts otci : incwtt y :assessments IGifts, : Total :goods :tributablet# :for exexpt : Tmal :exper9i7;xres :from members:pmts, etc : :sold. :gross income :pupposes _I_-

$143,387 $ 364,974 $ 21,848 $ 109,599 214,993 

155,756 310,281 12,629 88,045 206,a84 $ 0 13,284 $ - $ 193,395 . $ 28,081 ' 1 to 5 24,378 29 075 119 592 33,985

5 to 1.0 6;243 

10 to 25 8,665

25 to 100 13,026 

100 to 500 12,096 

500 to 1,000 3,732 

1,000 to 10,000 6,984 

10,000 to 50,000 1,486

50;ooo %a over 231 

Total 90,l25 

45,414 99,849 21,181 

141,610 217,216 38,423

693,on. 505 872 83,386

2,825,207 1,343,810 178,245

2,655,141 1,147,967 104,2115

22,265,016 109 701 977 391,475

29,835,405 14,519,685 269,097

40,097,365 13,958,211 215,881 

98,587,306 42,807,574 1,364,039 

124,015 245,384 10,609

261,296 517,019 39,549

754,459 1,343,790 80,048

1,568,124 3,090,191 174,240

732,846 1,985,086 141,979

3,360,163 14,453,556 1,383,119

2.9n j066 17,759,866 3 604 258 

2,815,053 16,989,162 525,628 

1.29 886,165 57,059 309 53 993,907 

78,198 144,970 

123,633 337,315

347,547 866,792 - 822,291 1,782,725

587,208 1,002,308 

5,229,022 5,928,719

5,7789 297 7,339,531

2,772,886 , 10,932,441 

15,936,726 28,736,683 

AUSUSt 12, AS 3- 15 I 

Office of the Secretary of the Treasury 

Office of Tax 

Svxcce: Special tabulation of Form 990 returns. 

1f "0" means balance sheet was not filled out. a! Ir~cludaereceipts fran sources other then due8 and glfts. 
Table 5 

,Receipts of Private Foundations 

by Asset Size, 1973 

(Dollar amounts in thousands) 

Gross receipts 

: Assets end: 

: of the : : Gifts, : Dues and : : Investment : 

: year : "Gross : grants, : assessments : Total : income 

: income" : etc. : from -31 : 

21 : received : members 

: Number 

Asset Size A/ : of 

: Returns 

Nonoperating 

$ 0 1,373 $ 0 $ 16,148 $ 16,822 $ 123 $ 33,093 $ 8,587 

1 to 5 4,639 7,090 8,192 17,692 236 26 ,141 2 ,510 

5 to 10 1,664 1 2,258 3,554 7,850 124 11,595 2 ,612 

10 to 25 3 ,207 53,629 3,086 4,128 19,954 27 ,161 6 ,816 

25 to 100 6,146 335,798 39,560 52,853 408 92 ,746 20 ,480 

100 to 500 5 ,832 1,344,186 143,828 98,153 487 242 ,432 83 ,672 

500 to 1,000 1,496 1,049,845 127,665 61,484 263 189,396 6 1,884 

1,000 to 10,000 1,987 5,684,232 666,019 293,938 790 960,744 443 ,103 

10,000 to 50,000 259 5 ,331 ,404 577,384 185,259 684 763,324 361,251 

50,000 and over 54 11,019,377 713,770 51,490 2,908 768 ,169 574,011 

Total 26,657 24,837,820 2,299,206 789,669 25 ,977 3,114 ,801 1,564,926 

Operating 

- 0 37 0 557 2,366 2 ,919 583 

1 to 5 137 23 7 283 1,691 25 2 ,004 296 

5 to 10 39 274 87 2,099 4 2,191 4 

10 to 25 

25 to 100 

68 

195 

1,125 

10,593 

112 

1,627 

1,444 

6 ,945 

2 

97 

1,559 

8 ,669 

16 

927 

100 to 500 271 70,248 8,347 13,804 154 22 ,300 1,974 

500 to 1,000 140 100,724 9,673 11,851 86 21,611 4,283 

1,000 to 10,000 241 691 ,992 66 ,263 39,757 1,225 

- 107 ,257 27,034 

10,000 to 50,000 30 659,336 154,212 23,438 177,649 34 ,232 

50,000 and over 3 182,095 6,534 5 ,353 11,887 12,855 

Total 1,161 1,716,624 247,695 108,748 1,593 358,048 82 ,204 

Tax on 

investment 

income 

$ 306 

86 

95 

191 

347 

3,079 

2 ,550 

19,852 

14 ,004 

23 ,002 

63,512 

23 

34 

0 

0 

31 

70 

162 

1,105 

2 ,746 

5 14 

4,685 
Table 5 

Pase tiio of 2 payes 

Receipts of private foundations 

by asset size, 1973 

(Dollar amounts in thousands) 

Gross receipts 

: returns ,: yecr : "Gross : grants, : ssesaents : Total :inCole : 

: etc. : *om

j incom$ : received : xembers i : ?/ : 

_I_----

Unclassified 

107 2 970 

13 1,776

7 448 

48 2,703

516 8,327

'272 41,835

307 10,672

187 66,083 

30 41,403 - 18,101

.1,487 194,617 

-

Total

230 38,982 274 29,921 

135 14,534 20,004 31,423 

1,021 109,742

306,567 69:i 221,679 

2,202 1,134,084 

714 982,376 

2 ,go8 798,157

29,057 3,667,466 

0 

1 to 5 

5 to 10 

$ 126 ' 

318 

75 

0 

432 

555 

1,735 1,126 

1,238 524 

146 593 

606 

198 

23 

23 

6 

10 to 25 

25 to 100 

100 to 500 

500 to 1,000 

1,000 to 10,000 

10,000 to 50,000

50,000 and over Total 

177 

278 

286 

64 

103 

8 

2 

1,437 

2 ,891. 

15,193

64,801 

45,673

282,348 

168,350

110,544 

690,786 

1,125 1,538

2,733 5,077

24,629 16,935 

6,921 3,719

50,244 15,648

8,239 33,135 - 18,101 

97,010 96,396 

155 

815 

2 ,936 

1,764

23,547 

4,595- 34,639 

1.9 

102 

0 

1to 5 1,536 0 5,094 7,759 

18,440 20,314 9,713 19,907 9,776

3,004 

352 

1.26 

5 to 10 

10 to 25 1,778 13,087 3,452 57,645 3,787 10,542 4,323 7,nO 2,639

6,967 

95 

191 

25 to 100 

100 to 500 

500 to 1,000 

6,619 361,584

6,389 1,479,235 

1,700 1,196,242 

43,920 64,875

176,804 128,892 

144,259 77,054 

22,222

88,582 

67,931 

397 

3,251 

.2,730 

1,000 to 10,000 

10,000 to 50,000

50,000 and over Total 

2,331 6,658,572

297 6,159,090 59 u,3=,016

29,255 27,245,230 

782,526 349,343

739,835 241,832 

493,686 

400,078 

22,000

16,g4L

720,304 74,944

2,643,gU 94,813 

586,866 23,516

1,681,769 __ - 69,652

August 12, 1975 

Net investment income as computed under section 4940 of the Internal 

Revenue Code. Excludes municipal

bond interest and includes capital gains on the basis set forth in 

section 4940. Largely include6 in 

"Gross Income. I' 

Less than $500. 

Office of the Secretary of the Treasury

Office of Tax Analysis 

Source: ,Special tabulation of Form 990-PF returns. 

"0" means balance sheet was not filled out. 3J 

Includes receipts from all sources other than 

dues and gifts. Understated however, because 

only "gross profits" from business activities 

are included. 

4J