Clara & Spencer Werner Foundation Inc in Cary, North Carolina (NC)

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Clara & Spencer Werner Foundation Inc
Employer Identification Number (EIN)376046119
Name of OrganizationClara & Spencer Werner Foundation Inc
Address110 Iowa Ln Ste 101, Cary, NC 27511
ActivitiesOther school related activities, Gifts, grants, or loans to other organizations, Other religious activities
SubsectionCharitable Organization
Ruling Date02/1955
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2009
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$19,751,341
Amount of Income$22,385,444
Form 990 Revenue Amount$-3,212,090
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Single Organization Support


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Amount of income in 2009: $22,385,444
This organization: 

 $22,385,444
Other organizations performing similar types of work: 

 $106,816

Assets in 2009: $19,751,341
This organization: 

 $19,751,341
Other organizations performing similar types of work: 

 $379,176

Expenses in 2007: $1,958,801
Clara & Spencer Werner Foundation Inc: 

 $1,958,801
Other organizations performing similar types of work: 

 $37,740

Income to expenses ratio in 2007: 1.0
Clara & Spencer Werner Foundation Inc: 

 1.0
Other organizations performing similar types of work: 

 3.4

Expenses allocated to program services in 2007: 72.9%
This organization: 

 72.9%
Other organizations performing similar types of work: 

 88.6%

Employees paid over $50,000 in 2007: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 9.1%

Grants share in income in 2007: 0.0%
Clara & Spencer Werner Foundation Inc: 

 0.0%
Other organizations performing similar types of work: 

 96.8%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001200220032004200520062007
Total revenue$-158,043$-1,134,070$278,704$988,388$2,932,051$1,635,476$2,047,407
Contributions, gifts, grants, and similar amounts received$0$0$0$2,643$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$2,643$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$16,137$16,899$51,951$64,298$28,731$27,749$22,670
Dividends and interest from securities$340,827$331,112$286,006$254,819$318,419$397,361$455,224
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-674,321$-1,703,069$-400,014$412,550$2,140,202$947,778$1,348,861
Gross amount from sales of assets other than inventory$3,093,605$12,011,246$9,453,821$4,434,107$10,452,062$7,287,612$4,818,741
Less: cost or other basis and sales expenses$3,767,926$13,714,315$9,853,835$4,021,557$8,311,860$6,339,834$3,469,880
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$159,314$220,988$340,761$254,078$444,699$262,588$220,652
Total expenses$1,275,362$1,102,422$1,236,320$1,268,896$1,230,742$1,767,796$1,958,801
Program services$1,099,000$929,458$1,056,690$1,077,566$1,010,394$1,533,996$1,428,700
Management and general$176,362$172,964$179,630$191,330$220,348$233,800$530,101
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$26,055,582$23,819,090$22,861,474$22,580,966$24,282,275$24,149,955$24,238,561
Excess or (deficit) for the year$-1,433,405$-2,236,492$-957,616$-280,508$1,701,309$-132,320$88,606
Net assets or fund balances at beginning of year$27,488,987$26,055,582$23,819,090$22,861,474$22,580,966$24,282,275$24,149,955
Other changes in net assets or fund balances$0$0$0$0$0$0$0
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,958,801$1,428,700$530,101$0
Grants paid from donor advised funds$0
Other grants and allocations$1,428,700
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$53,360$0$53,360$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$11,879$0$11,879$0
Payroll taxes$1,202$0$1,202$0
Professional fundraising fees$0$0$0$0
Accounting fees$7,735$0$7,735$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$1,183$0$1,183$0
Postage and shipping$86$0$86$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$295$0$295$0
Travel$11,535$0$11,535$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$2,011$0$2,011$0
Other expenses not covered above$440,815$0$440,815$0
Balance Sheets
2001200220032004200520062007
Total assets$26,055,582$23,819,590$22,862,458$22,581,321$24,282,630$24,150,789$24,240,280
Cash - non-interest-bearing$0$0$0$0$0$0$0
Savings and temporary cash investments$861,745$625,774$772,535$496,960$482,756$599,933$798,511
Accounts receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$15,000$56,449
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0
Investments - publicly-traded securities$10,519,300$10,267,487
Investments - other securities$9,450,307$7,278,954$7,243,380$8,225,020$9,026,787$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$15,742,442$15,914,262$14,845,099$13,858,321$14,770,524$13,014,981$13,111,106
Land, buildings, and equipment less accumulated depreciation$1,088$600$1,444$1,020$2,563$1,575$6,727
Other assets, including program-related investments$0$0$0$0$0$0$0
Total liabilities$0$500$984$355$355$834$1,719
Accounts payable and accrued expenses$0$500$984$355$355$834$1,719
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0$0
Total liabilities and net assets/fund balances$26,055,582$23,819,590$22,862,458$22,581,321$24,282,630$24,150,789$24,240,280
Total net assets or fund balances$26,055,582$23,819,090$22,861,474$22,580,966$24,282,275$24,149,955$24,238,561
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001200220032004200520062007
Total revenue$0$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001200220032004200520062007
Total expenses$0$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
10$18,460$11,879$0
5$8,600$0$0
5$8,850$0$0
5$8,600$0$0
5$8,850$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings5
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20061
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$19,443$2,026,515$1,449
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$22,670$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$455,224$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$1,348,861$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenueSecurities, commodity contracts, and other financial investments and related activities$19,443Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$199,760$1,449
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organization4
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
370765081Grace Lutheran Church, Graceluth Child Dev CtrYes$297,200
370756358Southern Illinois District Of The Luthern Church Missouri Synod, Southern Illinois DistrictYes$51,000
370756828Central Illinois District Of The Lutheran Church Missouri SynodYes$70,000
371123838Danville Lutheran SchoolYes$20,000
430653365International Lutheran Laymens LeagueYes$1,000
581326861Resurrection Lutheran Church, Resurrection Luteran Ps SchoolYes$385,000
371412177Unity Lutheran Christian SchoolYes$100,000
362167778Lutheran Child And Family Services Of IllinoisYes$50,000
390806446Bethesda Lutheran Communities IncYes$118,000
550909201Lutheran High South - Orange County Inc, Crean Lutheran South High SchoolYes$10,000
411000566Lutheran Island Camp IncYes$10,000
330006758Lutheran Church Of The CrossYes$10,000
362584799Lutheran Social Services Of IllinoisYes$30,000
371072628Lutheran Care CenterYes$20,000
370809904Saint Paul Lutheran ChurchYes$10,500
376016648Trinity Lutheran Church, SchoolYes$61,000
362496650Lutheran Education AssociationYes$185,000
Total$1,428,700
Support Schedule
2000200120022003200420052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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1Clara & Spencer Werner Foundation Inc110 Iowa Ln Ste 101, Cary, NC 27511NC1955-02$22,385,444
2Harry & Jan Sweere Foundation9857 Iteri Ln, Lakeville, MN 55044-3602MN2010-09$16,993,032
3L M Martin Trust Uw Fbo St Marks1 W 4th St 4th Fl, Winston Salem, NC 27101-3818NC2000-01$1,985,093
4Granville E Bixler & Elizabeth Buckley Bixler Memorial FundPO BOX 2907, Wilson, NC 27894-2907NC2006-08$1,056,503
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15First Presbyterian ChurchfoundationPO BOX 789, Concord, NC 28026-0789NC2008-08$0
16Grace Episcopal Church Enpowment303 S King St, Morganton, NC 28655-3536NC2000-03$0
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Number of organizations performing similar types of work
Alaska1
Alabama12
Arkansas3
Arizona6
California36
Colorado8
Connecticut4
District of Columbia2
Delaware1
Florida14
Georgia16
Iowa7
Idaho3
Illinois18
Indiana10
Kansas9
Kentucky4
Louisiana3
Massachusetts7
Maryland7
Maine4
Michigan12
Minnesota21
Missouri11
Mississippi4
Montana4
North Carolina21
North Dakota1
Nebraska10
New Hampshire3
New Jersey6
New Mexico8
Nevada3
New York18
Ohio23
Oklahoma5
Oregon4
Pennsylvania21
Rhode Island4
South Carolina8
South Dakota6
Tennessee9
Texas47
Virginia11
Vermont1
Washington8
Wisconsin12
West Virginia1
Wyoming2
International2
Total461

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