Bank Of Granite Foundation in Granite Falls, North Carolina (NC)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Other organizations in North Carolina
| Bank Of Granite Foundation | |
| Employer Identification Number (EIN) | 566075867 |
| Name of Organization | Bank Of Granite Foundation |
| Address | PO BOX 128, Granite Falls, NC 28630-0128 |
| Activities | Gifts, grants, or loans to other organizations |
| Subsection | Charitable Organization |
| Ruling Date | 04/1967 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Trust |
| Tax Period | 12/2012 |
| Assets | $25,000 to $99,999 |
| Income | $1 to $9,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $64,034 |
| Amount of Income | $6,585 |
| Form 990 Revenue Amount | $6,133 |
Non-representatives - add comments:
Revenue for 2012
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $6,585 | $6,585 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $213 | |||
| Dividends and interest from securities | $6,372 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $2,973 | $0 | $0 | $2,000 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $973 | $0 | $0 | |
| Contributions, gifts, grants paid | $2,000 | |||
| Excess of revenue over expenses and disbursements | $3,612 | |||
| Net investment income | $6,585 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $64,034 | $336,618 |
| Cash - non-interest-bearing | $5,432 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $33,602 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $25,000 | |
| Total liabilities | $0 | |
| Total liabilities and net assets/fund balances | $64,034 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $132 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $132 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| 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? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | No |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| 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)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $335,684 |
| Net value of noncharitable-use assets | $330,640 |
| Minimum investment return | $16,532 |
| Distributable Amount (for 2012) | |
| Distributable amount | $16,400 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $16,400 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| 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 |
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| Other organizations in North Carolina | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Ballew Scholarship Fund 370 11600300 | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 2014-02 | $152,466 |
| 2 | Balsam Mountain Tr | 81 Preserve Rd, Sylva, NC 28779-9372 | NC | 2002-04 | $292,673 |
| 3 | Band Boosters Of Fuquay Varina Inc | 201 Bengal Dr, Fuquay-Varina, NC 27526-1603 | NC | 2008-01 | $111,198 |
| 4 | Band Boosters Of North Buncombe High | PO BOX 1175, Weaverville, NC 28787-1175 | NC | 2004-10 | $121,564 |
| 5 | Wake Forest High School Band Boosters Inc | PO BOX 56, Wake Forest, NC 27588-0056 | NC | 2008-03 | $69,737 |
| 6 | Band Together | PO BOX 6445, Raleigh, NC 27628-6445 | NC | 2004-04 | $688,070 |
| 7 | Banded Brothers | Po Box 1145, Fuquay Varina, NC 27526 | NC | 2007-02 | $0 |
| 8 | Bandys Band Boosters | 5040 E Bandys Xrd, Catawba, NC 28609-8075 | NC | 1986-12 | $90,257 |
| 9 | Bangladesh Medical Association Of North America | 5013 Clyden Cove, Raleigh, NC 27612 | NC | 2001-05 | $0 |
| 10 | Bank Of America Charitable Foundation Inc | 150 N College St Nc1-028-17-06, Charlotte, NC 28202-2271 | NC | 2004-03 | $204,334,272 |
| 11 | Bank Of Granite Foundation | PO BOX 128, Granite Falls, NC 28630-0128 | NC | 1967-04 | $6,585 |
| 12 | Bank Of The Commonwealth Charitable Foundation | PO BOX 729, Mount Olive, NC 28365-0729 | NC | 2006-10 | $897 |
| 13 | Banner Elk Chamber Of Commerce | PO BOX 1872, Banner Elk, NC 28604 | NC | 2003-12 | $72,909 |
| 14 | Banner Pharmacaps Educational Found Ation Inc | PO BOX 2210, High Point, NC 27261-2210 | NC | 2001-09 | $1 |
| 15 | Banwell Family Foundation Inc | 1128 Queens Rd, Charlotte, NC 28207-1850 | NC | 2005-12 | $9,496 |
| 16 | Baptist Employees Credit Union | 205 Convennon Dr, Cary, NC 27511 | NC | 1969-08 | $127,669 |
| 17 | Baptist Home Missions Inc | PO BOX 277, Nags Head, NC 27959-0277 | NC | 1971-07 | $173,000 |
| 18 | Baptist Hospital Home Care | Medical Center Blvd, Winstonsalem, NC 27157-0001 | NC | 1995-07 | $53,779 |
| 19 | Baptist Hospital Home Rx | Medical Center Blvd, Winstonsalem, NC 27157-0001 | NC | 2004-10 | $3,686,732 |
| 20 | Baptist Peace Fellowship Of North America Inc | 300 Hawthorne Lane Ste 205, Charlotte, NC 28204-2434 | NC | 1986-08 | $354,443 |
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