Church Of The Assumption Foundation in Wilson, North Carolina (NC)
Table of contents:
| Church Of The Assumption Foundation | |
| Employer Identification Number (EIN) | 556028443 |
| Name of Organization | Church Of The Assumption Foundation |
| In Care of Name | Branch Banking & Trust Company |
| Address | PO BOX 2907, Wilson, NC 27894-2907 |
| Activities | Other religious activities |
| Subsection | Religious Organization, Charitable Organization |
| Ruling Date | 06/1966 |
| Deductibility | Contributions are deductible |
| Foundation | Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above |
| Organization | Trust |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2014 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (religious organization) |
| Asset Amount | $220,165 |
| Amount of Income | $115,495 |
| Form 990 Revenue Amount | $10,554 |
| National Taxonomy of Exempt Entities (NTEE) | Religion-Related, Spiritual Development: Single Organization Support |
Non-representatives - add comments:
Amount of income in 2014: $115,495 (it was $11,356 in 2013)
| This organization: | $115,495 |
| Other organizations performing similar types of work: | $106,816 |
Assets in 2014: $220,165 (it was $219,935 in 2013)
| This organization: | $220,165 |
| Other organizations performing similar types of work: | $379,176 |
Expenses in 2013: $9,980
| Church Of The Assumption Foundation: | $9,980 |
| Other organizations performing similar types of work: | $37,740 |
Income to expenses ratio in 2013: 11.6
| Church Of The Assumption Foundation: | 11.6 |
| Other organizations performing similar types of work: | 3.4 |
Grants share in income in 2013: 0.0%
| Church Of The Assumption Foundation: | 0.0% |
| Other organizations performing similar types of work: | 96.8% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $16,345 | $14,075 | $11,356 |
| Contributions, gifts, grants, and similar amounts received | $0 | $0 | $0 |
| Program service revenue including government fees and contracts | $0 | $0 | $0 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $8,610 | $8,583 | $8,143 |
| Gain/Loss from sale of assets other than inventory | $7,735 | $5,492 | $3,213 |
| Gross amount from sale of assets other than inventory | $175,342 | $100,270 | $153,527 |
| Less: cost or other basis and sales expenses | $167,607 | $94,778 | $150,314 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $11,961 | $10,256 | $9,980 |
| Total net assets | $214,527 | $218,333 | $219,935 |
| Excess/Deficit for the year | $4,384 | $3,819 | $1,376 |
| Net assets or fund balances at beginning of year | $210,401 | $214,527 | $218,333 |
| Other changes in net assets or fund balances | $-258 | $-13 | $226 |
| Net assets or fund balances at end of year | $218,333 | $219,935 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $214,527 | $218,333 | $219,935 |
| Total liabilities | $0 | $0 | $0 |
| Net assets or fund balances | $214,527 | $218,333 | $219,935 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2) |
| Number of organizations supported | 1 |
| Sum of amounts of support | $6,380 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Clara & Spencer Werner Foundation Inc | 110 Iowa Ln Ste 101, Cary, NC 27511 | NC | 1955-02 | $22,385,444 |
| 2 | Harry & Jan Sweere Foundation | 9857 Iteri Ln, Lakeville, MN 55044-3602 | MN | 2010-09 | $16,993,032 |
| 3 | L M Martin Trust Uw Fbo St Marks | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 2000-01 | $1,985,093 |
| 4 | Granville E Bixler & Elizabeth Buckley Bixler Memorial Fund | PO BOX 2907, Wilson, NC 27894-2907 | NC | 2006-08 | $1,056,503 |
| 5 | Milton And Leonore Schmuhl Trust For Trinity Episcopal Church | 1 W 4th St Fl Mac D4000-041, Winston Salem, NC 27101-3818 | NC | 2004-08 | $390,402 |
| 6 | Csd Service Organization Inc | 565 Griffith Street, Davidson, NC 28036-9326 | NC | 2011-06 | $327,707 |
| 7 | Corinth Reformed Church Charitable Foundation | 150 16th Ave Nw, Hickory, NC 28601-2458 | NC | 1999-10 | $230,752 |
| 8 | Edward P Lauther Charitable Trust, Fbo St Lukes Ch Tuw 3222-1513104569 | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 2006-05 | $201,289 |
| 9 | St Stephens Luthern Church-Missouri Synod Of Hickory North Carolina, St Stephens L Church -Charitable Fd | 2304 Springs Rd Ne, Hickory, NC 28601-3066 | NC | 2002-08 | $187,707 |
| 10 | Church Of The Assumption Foundation | PO BOX 2907, Wilson, NC 27894-2907 | NC | 1966-06 | $115,495 |
| 11 | Holy Michael Foundation | 1520 Canterbury Rd, Raleigh, NC 27608-1106 | NC | 2005-11 | $105,752 |
| 12 | Raymond J & Viola J Papenbrock 4019849449 | 1 W 4th St 4th Fl Mac D4000-041, Winston Salem, NC 27101-3818 | NC | 2010-03 | $92,800 |
| 13 | Emily Elizabeth Young Irrv Charitable Tr | PO BOX 295, Raleigh, NC 27602-0295 | NC | 2000-10 | $90,623 |
| 14 | Tr Uw James I Bumster | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 2009-10 | $55,811 |
| 15 | First Presbyterian Churchfoundation | PO BOX 789, Concord, NC 28026-0789 | NC | 2008-08 | $0 |
| 16 | Grace Episcopal Church Enpowment | 303 S King St, Morganton, NC 28655-3536 | NC | 2000-03 | $0 |
| 17 | Knights Foundation Inc | 333 Jeremiah Blvd, Charlotte, NC 28262 | NC | 2003-01 | $0 |
| 18 | Provision Foundation | 5000 Country Club Rd, Winston Salem, NC 27104-4514 | NC | 2003-08 | $0 |
| 19 | St Andrews By-The-Sea Episcopal Church Foundation | Po Box 445, Nags Head, NC 27959 | NC | 2007-11 | $0 |
| 20 | World Prayer Endowment Fund Inc | Po Box 1146, Black Mountain, NC 28711 | NC | 2007-01 | $0 |
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