First Gaston Foundation Inc in Gastonia, 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
| First Gaston Foundation Inc | |
| Employer Identification Number (EIN) | 560770083 |
| Name of Organization | First Gaston Foundation Inc |
| Address | PO BOX 2696, Gastonia, NC 28053-2696 |
| Activities | Other school related activities, Gifts, grants, or loans to other organizations, Other religious activities |
| Subsection | Charitable Organization |
| Ruling Date | 04/1952 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 09/2014 |
| Assets | $10,000,000 to $49,999,999 |
| Income | $1,000,000 to $4,999,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $10,277,864 |
| Amount of Income | $3,056,151 |
| Form 990 Revenue Amount | $-243,170 |
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 | $650,093 | $649,529 | $0 | |
| Contributions, gifts, grants, etc., received | $0 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $333,774 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $564 | |||
| Other | $315,755 | |||
| Total expenses and disbursements | $526,786 | $82,379 | $0 | $430,003 |
| Compensation of officers, directors, trustees, etc. | $23,274 | |||
| Total operating and administrative expenses | $158,886 | $82,379 | $70,835 | |
| Contributions, gifts, grants paid | $367,900 | |||
| Excess of revenue over expenses and disbursements | $123,307 | |||
| Net investment income | $567,150 | |||
| Adjusted net income | $0 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $9,206,915 | $9,206,915 |
| Cash - non-interest-bearing | $9,191 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $2,674,604 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $5,496,017 | |
| Other | $1,027,103 | |
| Total liabilities | $266,296 | |
| Mortgages and other notes payable | $0 | |
| Other | $266,296 | |
| Total liabilities and net assets/fund balances | $8,940,619 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $315,755 |
| 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 | $5,672 |
| Total credits and payments | $4,320 |
| 2012 estimated tax payments and 2011 overpayment credited to 2012 | $4,320 |
| Exempt foreign organizations-tax withheld at source | $0 |
| Tax paid with application for extension of time to file (Form 8868) | $0 |
| Backup withholding erroneously withheld | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $1,352 |
| 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? | Yes |
| 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 | $9,248,337 |
| Net value of noncharitable-use assets | $9,109,620 |
| Minimum investment return | $455,481 |
| Distributable Amount (for 2012) | |
| Distributable amount | $449,809 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $449,809 |
| 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 | First Choice Community Health Centers | 40 Autumn Fern Trl, Lillington, NC 27546-5155 | NC | 1979-02 | $3,946,176 |
| 2 | First Church Of Christ Scientist | 1 W 4th St 4th Fl, Winston Salem, NC 27101-3818 | NC | 1988-08 | $216,566 |
| 3 | First Colony Foundation | 1501 Cole Mill Rd, Durham, NC 27705-2405 | NC | 2004-06 | $21,834 |
| 4 | First Cosmopolitan Day Care Center Inc | 1515 Cross Link Rd, Raleigh, NC 27610-4909 | NC | 1980-02 | $140,039 |
| 5 | First Environments Parents Organization | 109 Tw Alexander, Durham, NC 27711-0001 | NC | 1987-03 | $2,618,182 |
| 6 | First Family Adventures | 3730 University Pkwy, Winston Salem, NC 27106-4018 | NC | 2004-03 | $88,324 |
| 7 | First Flight High School Fine Arts Boosters | 100 Veterans Dr, Kill Devil Hl, NC 27948-6965 | NC | 2009-07 | $48,156 |
| 8 | First Flight Society Incorporated | PO BOX 1903, Kitty Hawk, NC 27949-1903 | NC | 1978-08 | $45,891 |
| 9 | First Friday Southern Pines | Po Box 400, Aberdeen, NC 28315 | NC | 2008-07 | $0 |
| 10 | First Fruits Ministries International | 7106 Davis Country Rd, Randleman, NC 27317-7167 | NC | 2008-09 | $102,456 |
| 11 | First Gaston Foundation Inc | PO BOX 2696, Gastonia, NC 28053-2696 | NC | 1952-04 | $3,056,151 |
| 12 | First Home Health And Hospice Inc | 9820 Us Highway 301 S, Four Oaks, NC 27524-7890 | NC | 1977-07 | $294 |
| 13 | First Image | 60 Commerce Plaza Cir, Pembroke, NC 28372-7386 | NC | 1997-04 | $146,605 |
| 14 | First In Families Of North Carolina | 3109 University Drive, Durham, NC 27707-3779 | NC | 2003-08 | $1,260,740 |
| 15 | First Methodist Church Foundation | PO BOX 2907, Wilson, NC 27894-2907 | NC | 1966-06 | $54,799 |
| 16 | First Org Inc | PO BOX 1187, Morrisville, NC 27560-1187 | NC | 1997-01 | $1,565,077 |
| 17 | First Presbyterian Church Child Development Center | 512 Old Mt Holly Road, Stanley, NC 28164-2191 | NC | 2000-12 | $128,656 |
| 18 | First Presbyterian Church Child Development Center Of Greensboro I, First School | 617 N Elm St, Greensboro, NC 27401-2019 | NC | 1999-10 | $920,961 |
| 19 | First Presbyterian Church Of Durham Day Care Center Incorporated | 305 E Main St, Durham, NC 27701-3799 | NC | 1972-05 | $650,100 |
| 20 | First Presbyterian Church Tr, 1519177452 | 1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28262 | NC | $230,211 | |
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