Guardian Angel Thrift in Fuquay Varina, North Carolina (NC)

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Guardian Angel Thrift
Employer Identification Number (EIN)562226170
Name of OrganizationGuardian Angel Thrift
In Care of NameLaura Gaddis
Address742 N Main St, Fuquay Varina, NC 27526-2029
SubsectionCharitable Organization
Ruling Date03/2002
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$500,000 to $999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$949,678
Amount of Income$4,323,345
Form 990 Revenue Amount$2,307,792
National Taxonomy of Exempt Entities (NTEE)Human Services - Multipurpose and Other: Thrift Shops


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Amount of income in 2013: $4,323,345 (it was $4,055,019 in 2012)
Guardian Angel Thrift: 

 $4,323,345
Other organizations performing similar types of work: 

 $128,815

Assets in 2013: $949,678 (it was $775,115 in 2012)
This organization: 

 $949,678
Other organizations performing similar types of work: 

 $51,025

Expenses in 2013: $2,133,224
This organization: 

 $2,133,224
Other organizations performing similar types of work: 

 $115,376

Income to expenses ratio in 2013: 2.0
This organization: 

 2.0
Other organizations performing similar types of work: 

 1.0

Number of employees in 2013: 65
This organization: 

 65
Other organizations performing similar types of work: 

 6

Grants share in income in 2013: 93.0%
Guardian Angel Thrift: 

 93.0%
Other organizations performing similar types of work: 

 2.9%

Financial snapshot ($)

0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2006
2008
2010
2011
2012
2013
Revenue
Assets
Expenses

Revenue for 2013

Contributions, Gifts, Grants etc. (93%)
Other (7%)

Assets at the end of 2013

Inventories for sale or use (46%)
Other assets (0%)
Cash - non-interest-bearing (41%)
Land, buildings, equipment (13%)

Functional expenses for 2013

Salaries and wages (43%)
Payroll taxes (5%)
Occupancy (22%)
Other expenses (6%)
Grants to domestic organizations (9%)
Compensation of current officers, directors, etc. (7%)
Other (8%)

Support schedule

Receipts from admissions, merchandise etc. (52%)
Other (0%)
Gifts, grants and membership fees received (48%)
Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoYes
Is the organization required to complete Schedule B, Schedule of Contributors?NoNo
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 109600
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return6865
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$152,239$151,629
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$2,115,023$1,985,627$2,307,792
Contributions, Gifts, Grants and Other Similar Amounts$1,927,305$2,004,717$2,145,252
Program Service Revenue$0$0$80,391
All other program service revenue$0$80,391
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$0$44$60
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$0$0$16,700
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0$0 / $0$0 / $46,072
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0$0 / $0$0 / $29,372
Gain or (loss) (Securities / Other)$0 / $0$0 / $0$0 / $16,700
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$187,718$-19,134$65,389
Gross sales of inventory, less returns and allowances$1,950,598$2,050,258$2,051,570
Less: cost of goods sold$1,762,880$2,069,392$1,986,181
Miscellaneous Revenue$0$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$1,912,909$2,066,639$2,133,224
Grants and other assistance to domestic organizations and domestic governments$200,126$200,100
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$152,238$269,571$144,511
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$812,294$764,151$922,021
Pension plan accruals and contributions$0$0
Other employee benefits$0$492
Payroll taxes$108,719$110,333$116,548
Fees for services (non-employees)
Management$1,354$0
Legal$0$0
Accounting$37,508$38,400
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$0$300
Advertising and promotion$30,741$49,911
Office expenses$6,505$5,192
Information technology$5,880$0
Royalties$0$0
Occupancy$381,383$463,434
Travel$2,880$5,240
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$150$602
Interest$121$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$21,260$23,659
Insurance$38,233$40,415
Other expenses$196,443$122,399
Balance Sheet
201120122013
Total assets$848,741$775,115$949,678
Cash - non-interest-bearing$354,809$391,985
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$0$0
Accounts receivable, net$0$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$293,811$433,114
Prepaid expenses and deferred charges$0$0
Land, buildings, and equipment: cost or other basis$126,195$124,279
Investments - publicly traded securities$0$0
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$300$300
Total liabilities$23,196$30,582$30,577
Accounts payable and accrued expenses$0$0
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$30,582$30,577
Total net assets or fund balances$825,545$744,533$919,101
Unrestricted net assets$0$0
Temporarily restricted net assets$0$0
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$825,545$744,533$919,101
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$19,022,942
Subtotal$19,022,942
Gifts, grants, contributions, and membership fees received$9,217,275
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$9,805,667
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$19,023,290
Public support$19,022,942
Subtotal$348
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$60
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$288
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$7,963$0$7,963
Gross receipts or sales less returns and allowances$765,401$0$0
Cost of goods sold$68,577$0$0
Gross profit$79,631$0$7,963
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$6,220
Compensation of officers, directors, and trustees$0
Salaries and wages$3,391
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$320
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$2,509
Unrelated business taxable income$1,743
Unrelated business taxable income before net operating loss deduction$1,743
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$1,743
Specific deduction$0
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Organizations performing similar types of work
Id ↑NameAddressStateEstablishedTotal Income
1Crossroads Mission Enterprises Inc, Missions Thrift Store2721 E Millbrook Rd, Raleigh, NC 27604-2811NC2011-10$387,584
2Seeds Of Mustard Ministries Corporation403 Edinburgh Drive, Cary, NC 27511NC2010-12$217,105
3Sjumc Thrift Shop IncPO BOX 250, Newport, NC 28570-0250NC2009-08$125,068
4Snapdragon Thrift Store Inc1600 Eastwood Dr, Fuquay Varina, NC 27526-8904NC2012-11$123,350
5Marthas Corporation, Marthas Thrift Store And Food Pantr857 W Main St, Belhaven, NC 27810-1119NC2011-11$73,593
6Phoenix Group Of Wilmington Inc420 Eastwood Rd Ste 113, Wilmington, NC 28403-1866NC2012-04$73,462
7Unique World Gifts Inc2751 N Center St, Hickory, NC 28601-1342NC1999-04$54,486
8Compassion Thrift & Consignment Inc46 Linville Lane, Willow Spring, NC 27592NC2010-03$47,488
9Sharing Center Thrift Shop232 Ne Main St, Franklin, NC 28734-2603NC2005-03$21,350
10Shepherds Hand3798 Old Fort Sugar Hill Road, Old Fort, NC 28762NC2010-10$7,788
11Yea God Ministries3730 Blendwood Ln Ne, Hickory, NC 28601-8704NC2013-04$2,698
12Beaufort County-Pantego Community CenterP O 27, Pantego, NC 27860NC2011-11$0
13Closet MinistryPo Box 79152, Charlotte, NC 28271NC2011-05$0
14Communecos2030 Englewood Avenue, Durham, NC 27705NC2013-01$0
15Dream Coat Ministries861 Old Knight Rd Suite 112, Knightdale, NC 27545NC2011-06$0
16Entrepreneur Skills Network8682 U S Highway 74 West, Whittier, NC 28789NC2009-09$0
17Friends Of Peggy M Seegars Senior Center2001 B East Ash Street, Goldsboro, NC 27530NC2013-09$0
18Giving Tree Foundation, The Giving Tree Foundation Inc839 South Main Street, Wake Forest, NC 27587NC2014-04$0
19Good Deeds Indeed IncPO BOX 64042, Fayetteville, NC 28306-0042NC2003-09$0
20Hope Of Tamar3588 Farmington Drive Apt F, Greensboro, NC 27407NC2014-12$0
Number of organizations performing similar types of work
Alaska2
Alabama22
Arkansas5
Arizona21
California80
Colorado19
Connecticut5
District of Columbia1
Delaware3
Florida50
Georgia43
Hawaii2
Iowa13
Idaho10
Illinois42
Indiana18
Kansas19
Kentucky13
Louisiana9
Massachusetts13
Maryland11
Maine9
Michigan43
Minnesota18
Missouri32
Mississippi5
Montana3
North Carolina45
North Dakota2
Nebraska7
New Hampshire5
New Jersey14
New Mexico8
Nevada10
New York29
Ohio29
Oklahoma19
Oregon8
Pennsylvania37
Rhode Island1
South Carolina17
South Dakota8
Tennessee24
Texas51
Utah5
Virginia34
Vermont7
Washington23
Wisconsin36
West Virginia3
Wyoming4
International1
Total938

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