Southshare Foundation Inc in Norcross, Georgia (GA)

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Southshare Foundation Inc
Employer Identification Number (EIN)582560903
Name of OrganizationSouthshare Foundation Inc
In Care of NameBrenda Jones Checkfree Corp
Address4411 E Jones Bridge Rd, Norcross, GA 30092-1615
SubsectionCharitable Organization
Ruling Date09/2000
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2014
Assets$500,000 to $999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$649,872
Amount of Income$573,265
Form 990 Revenue Amount$49,152
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Community Foundations


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Amount of income in 2014: $573,265 (it was $75,462 in 2013)
This organization: 

 $573,265
Other organizations performing similar types of work: 

 $123,400

Assets in 2014: $649,872 (it was $673,616 in 2013)
Southshare Foundation Inc: 

 $649,872
Other organizations performing similar types of work: 

 $188,019

Expenses in 2013: $97,413
This organization: 

 $97,413
Other organizations performing similar types of work: 

 $82,376

Income to expenses ratio in 2013: 5.9
This organization: 

 5.9
Other organizations performing similar types of work: 

 5.6

Grants share in income in 2013: 0.0%
Southshare Foundation Inc: 

 0.0%
Other organizations performing similar types of work: 

 20.2%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$75,462$75,462$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$7,507
Dividends and interest from securities$14,652
Gross rents$0
Gross sales price for all assets$296,596
Gross profit from sales of goods$0
Other income$0
Other$53,303
Total expenses and disbursements$97,413$6,538$0$90,875
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$1,875
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$8,413$6,538$1,875
Contributions, gifts, grants paid$89,000
Excess of revenue over expenses and disbursements$-21,951
Net investment income$68,924
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$728,185$830,527$695,567$828,955$673,616$858,758
Cash - non-interest-bearing$0$0$0
Investments-U.S. and state government obligations$295,612$254,300$222,959
Investments-corporate stock$396,709$413,305$410,455
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$0
Total liabilities$0$0$0
Total liabilities and net assets/fund balances$728,185$695,567$673,616
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$23,873$22,503$53,303
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$781$388$689
Total credits and payments$257$800$412
Current year estimated tax payments and previous year's overpayment credited to current year$257$800$412
Exempt foreign organizations-tax withheld at source$0$0$0
Tax paid with application for extension of time to file (Form 8868)$0$0$0
Backup withholding erroneously withheld$0$0$0
Any penalty for underpayment of estimated tax$1$0$0
Tax due$0$277
Overpayment$412$0
Amount to be credited to next year's estimated tax$0$412$0
Statements Regarding Activities
201120122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$831,185$867,186$838,432
Net value of noncharitable-use assets$854,178$825,856
Minimum investment return$40,936$42,709$41,293
Distributable Amount
201120122013
Distributable amount$40,155$42,321$40,604
Undistributed Income
201120122013
Distributable amount for this year$40,155$42,321$40,604
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$7,507$0
Dividends and interest from securities$14,652$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Taos Community Foundation IncPO BOX 1925, Taos, NM 87571-1925NM1998-12$4,057,729
2The Community Foundation For The Central Savannah River Area Inc1450 Greene Street, Augusta, GA 30901-5200GA1995-10$238,374,744
3National Christian Charitable Foundation Inc, Cawood Family So Inc103 Clover Grn, Peachtree Cty, GA 30269-1672GA2001-08$8,637,448
4Purpose Built Communities Foundation Inc3445 Peachtree Rd Ne Ste 175, Atlanta, GA 30326-1234GA2013-11$2,012,838
5Victory World Christian School Inc5905 Brook Hollow Pkwy, Norcross, GA 30071-3533GA2002-07$909,055
6Southshare Foundation Inc4411 E Jones Bridge Rd, Norcross, GA 30092-1615GA2000-09$573,265
7National Christian Charitable Foundation Inc, Charitable Giving Foundation Inc11625 Rainwater Dr Ste 500, Alpharetta, GA 30009-8678GA2001-08$500,000
8Atlanta Technology Angels IncSuite 520, Atlanta, GA 30305GA2013-11$272,501
9Hot Rodders Children S Charity Inc1001 Cherry Drive Suite 1, Braselton, GA 30517GA2009-04$220,635
10The Resurgens Charitable Foundation Inc5671 Peachtree Dunwoody Rd Ste 700, Atlanta, GA 30342-5047GA2002-02$191,258
11The Coweta Community Foundation Inc17 Jefferson Pl, Newnan, GA 30263-1470GA1998-01$179,353
12Sawnee Electric Membership Foundation Inc543 Atlanta Rd, Cumming, GA 30040-2701GA2004-02$175,979
13The Fund For Philanthropy Inc475 E Main St 154, Cartersville, GA 30121-3353GA2014-08$119,048
14Thomas Davis Defending Dreams FoundationPob 20254, Atlanta, GA 30327GA2009-02$97,102
15Peachtree Heights East Neighborhood Association IncPO BOX 550254, Atlanta, GA 30355-2754GA2013-07$72,008
16G & P Rotary Charities Inc2901 Reynolds Walk Trail Suite 201, Greensboro, GA 30642GA2012-03$55,042
17Sumter Emc Foundation IncPO BOX 1048, Americus, GA 31709-1048GA2003-03$49,026
18The Thomaston Sertoma Club Of Thomaston Georgia, 10671 Thomaston Sertoma ClubPO BOX 848, Thomaston, GA 30286-0011GA2014-08$28,979
19Benjamin Essombe P Foundation Inc1750 Dees Drive, Ellenwood, GA 30294GA2010-06$28,939
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Number of organizations performing similar types of work
Alaska10
Alabama42
Arkansas20
Arizona50
California335
Colorado77
Connecticut51
District of Columbia21
Delaware7
Florida144
Georgia79
Hawaii16
Iowa86
Idaho15
Illinois129
Indiana75
Kansas52
Kentucky26
Louisiana25
Massachusetts83
Maryland76
Maine16
Michigan126
Minnesota62
Missouri48
Mississippi28
Montana45
North Carolina78
North Dakota10
Nebraska44
New Hampshire13
New Jersey99
New Mexico20
Nevada22
New York174
Ohio132
Oklahoma33
Oregon58
Pennsylvania123
Rhode Island20
South Carolina36
South Dakota9
Tennessee37
Texas194
Utah27
Virginia70
Vermont13
Washington71
Wisconsin83
West Virginia22
Wyoming12
International7
Total3,151

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