Hollingsworth Funds Inc in Greenville, South Carolina (SC)

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Hollingsworth Funds Inc
Employer Identification Number (EIN)571003814
Name of OrganizationHollingsworth Funds Inc
Address124 Verdae Blvd Ste 502, Greenville, SC 29607-3847
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date12/1994
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 Period12/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$361,023,823
Amount of Income$58,847,878
Form 990 Revenue Amount$17,866,184
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Single Organization Support


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Amount of income in 2013: $58,847,878
Hollingsworth Funds Inc: 

 $58,847,878
Other organizations performing similar types of work: 

 $147,540

Assets in 2013: $361,023,823
Hollingsworth Funds Inc: 

 $361,023,823
Other organizations performing similar types of work: 

 $421,265

Expenses in 2013: $11,807,381
Hollingsworth Funds Inc: 

 $11,807,381
Other organizations performing similar types of work: 

 $65,955

Income to expenses ratio in 2013: 5.0
This organization: 

 5.0
Other organizations performing similar types of work: 

 12.1

Expenses allocated to program services in 2007: 86.5%
Hollingsworth Funds Inc: 

 86.5%
Other organizations performing similar types of work: 

 86.9%

Employees paid over $100,000 in 2013: 160.0%
This organization: 

 160.0%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 100.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
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?YesYes
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?NoNo
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?YesYes
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?NoNo
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?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
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
2010201120122013
The number reported in Box 3 of Form 1096142631
The number of Forms W-2G000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNoNo
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 return345
Did the organization file all required federal employment tax returns?YesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYesYes
Has it filed a Form 990-T for this year?YesYesYes
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)?NoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNo
Did the organization file Form 8886-T?NoNoNo
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?NoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNo
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?NoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNo
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$0
The amount of reserves on hand$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNo
Has it filed a Form 720 to report these payments?NoNoNo
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$333,028$491,838
Total reportable compensation from related organizations$84,150$84,149
Total estimated amount of other compensation from the organization and related organizations$31,661$56,180
Total number of individuals who received more than $100,000 of reportable compensation from the organization23
Total number of independent contractors who received more than $100,000 of compensation from the organization85
Statement of Revenue
2010201120122013
Total revenue$4,102,404$11,574,978$13,895,674$17,866,184
Contributions, Gifts, Grants and Other Similar Amounts$0$0$0$0
Program Service Revenue$0$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,382,849$1,372,569$1,770,783$4,725,227
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$1,146,741$1,576,945$2,284,693$1,954,931
Gross rents (Real / Personal)$5,781,494 / $0$5,851,778 / $0$5,721,758 / $0$5,767,139 / $0
Less: rental expenses (Real / Personal)$4,634,753 / $0$4,274,833 / $0$3,437,035 / $0$3,812,208 / $0
Rental income or (loss) (Real / Personal)$1,146,741 / $0$1,576,945 / $0$2,284,693 / $0$1,954,931 / $0
Net gain/loss from sales of assets other than inventory$-347,355$4,420,062$9,819,283$10,408,991
Gross amount from sales of assets other than inventory (Securities / Other)$20,045,595 / $4,448,128$32,535,275 / $1,159,274$18,404,617 / $15,384,898$33,985,104 / $13,593,373
Less: cost or other basis and sales expenses (Securities / Other)$20,858,798 / $3,982,280$28,818,735 / $455,752$15,043,098 / $8,927,134$28,582,283 / $8,587,203
Gain or (loss) (Securities / Other)$-813,203 / $465,848$3,716,540 / $703,522$3,361,519 / $6,457,764$5,402,821 / $5,006,170
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$1,920,169$4,205,402$20,915$777,035
Lessors of Residential Buildings and Dwellings $2,114,425$16,769$683,866
900099$2,085,803$3,300$76,894
Other Financial Vehicles $3,600$1,254$15,559
All other revenue$1,574$-408$716
Statement of Functional Expenses
2010201120122013
Total functional expenses$4,838,188$5,093,947$6,290,287$11,807,381
Grants and other assistance to domestic organizations and domestic governments$4,362,141$4,710,480$6,160,513
Grants and other assistance to domestic individuals$0$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0
Benefits paid to or for members$0$0$0
Compensation of current officers, directors, trustees, and key employees$278,091$258,517$196,254$548,018
Compensation not included above, to disqualified persons$0$0$0
Other salaries and wages$0$0$0$47,275
Pension plan accruals and contributions$0$0$0
Other employee benefits$0$31,661$3,918
Payroll taxes$11,417$12,463$12,946$31,253
Fees for services (non-employees)
Management$0$0$0
Legal$0$44,707$246,132
Accounting$0$81,853$65,671
Lobbying$0$0$0
Professional fundraising services$0$0$0$0
Investment management fees$0$207,334$223,127
Other$0$99,444$89,018
Advertising and promotion$0$3,500$0
Office expenses$0$8,968$12,570
Information technology$0$0$3,033
Royalties$0$0$0
Occupancy$0$24,117$0
Travel$3,867$4,897$20,883
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0
Conferences, conventions, and meetings$0$1,680$15,621
Interest$0$0$74,617
Payments to affiliates$0$0$0
Depreciation, depletion, and amortization$0$266,426$269,536
Insurance$25,365$40,396$43,367
Other expenses$212,954$354,515$3,331,011
Other expenses$115,477$76,965$345,000
Other expenses$63,292$47,027$129,601
Other expenses$37,363$36,713$42,000
Other expenses$2,508$40,404$105,217
Balance Sheet
2010201120122013
Total assets$346,459,165$341,978,591$353,210,276$361,023,823
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$4,869,825$7,144,451$13,044,423
Pledges and grants receivable, net$0$0$0
Accounts receivable, net$125,547$328,530$376,128
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$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$0
Notes and loans receivable, net$0$11,920,140$11,688,665
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$375,766$401,679$25,980
Land, buildings, and equipment: cost or other basis$176,895,011$174,413,924$162,754,770
Investments - publicly traded securities$66,476,076$77,007,444$92,972,158
Investments - other securities$76,236,937$77,274,323$76,213,979
Investments - program-related$0$0$0
Intangible assets$0$4,103$4,103
Other assets$16,999,429$4,715,682$3,943,617
Total liabilities$7,655,347$3,618,789$4,774,605$2,771,936
Accounts payable and accrued expenses$1,314,753$1,406,722$1,433,948
Grants payable$0$0$0
Deferred revenue$0$35,318$35,318
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0
Secured mortgages and notes payable to unrelated third parties$5,917,607$2,245,300$3,000,000$950,000
Unsecured notes and loans payable to unrelated third parties$0$0$290,715$326,769
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$58,736$41,850$25,901
Total net assets or fund balances$338,803,818$338,359,802$348,435,671$358,251,887
Unrestricted net assets$338,359,802$348,435,671$358,251,887
Temporarily restricted net assets$0$0$0
Permanently restricted net assets$0$0$0
Capital stock or trust principal, or current funds$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
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 supported4
Sum of amounts of support$6,160,513
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$116,599$266,727,680$2,769,824$2,043,377$23,862,341$6,110,996$5,550,854$11,052,335
Contributions, gifts, grants, and similar amounts received$100,738$265,076,634$0$1,479,889$0$0$0$1,534,093
Contributions to donor advised funds$0$0
Direct public support$100,738$265,076,634$0$1,479,889$0$0$0$1,534,093
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0$0
Dividends and interest from securities$15,861$504,944$283,330$823,479$754,041$1,137,263$3,010,766$2,708,831
Net rental income or (loss)$0$718,772$743,011$-332,921$-561,357$-52,862$-30,483$629,948
Gross rents$0$5,693,619$5,632,395$4,647,878$4,916,225$4,514,560$5,006,908$5,283,378
Less: rental expenses$0$4,974,847$4,889,384$4,980,799$5,477,582$4,567,422$5,037,391$4,653,430
Other investment income$0$4,813,818$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$-4,386,488$1,743,483$72,930$23,611,737$4,695,789$2,045,025$5,486,358
Gross amount from sales of assets other than inventory$0$269,765,833$7,199,684$16,329,717$76,203,234$19,942,985$45,246,084$32,838,219
Less: cost or other basis and sales expenses$0$274,152,321$5,456,201$16,256,787$52,591,497$15,247,196$43,201,059$27,351,861
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$57,920$330,806$525,546$693,105
Total expenses$116,593$2,925,370$2,672,244$1,416,085$1,385,405$4,192,046$4,678,738$4,684,945
Program services$108,425$400,000$400,000$600,000$800,000$3,618,109$4,049,870$4,051,048
Management and general$8,168$2,525,370$2,272,244$816,085$585,405$573,937$628,868$633,897
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$3,335,438$264,217,797$274,625,650$268,573,927$293,733,540$295,369,317$295,760,755$301,653,470
Excess or (deficit) for the year$6$263,802,310$97,580$627,292$22,476,936$1,918,950$872,116$6,367,390
Net assets or fund balances at beginning of year$3,335,432$3,335,438$264,217,797$274,625,650$268,573,927$293,733,540$295,369,317$295,760,755
Other changes in net assets or fund balances$0$-2,919,951$10,310,273$-6,679,015$2,682,677$-283,173$-480,678$-474,675
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$4,684,945$4,051,048$633,897$0
Grants paid from donor advised funds$0
Other grants and allocations$4,035,193
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$100,908$15,136$85,772$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$0$0$0$0
Payroll taxes$4,794$719$4,075$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$1,452$0$1,452$0
Travel$0$0$0$0
Conferences, conventions, and meetings$712$0$712$0
Interest$137,705$0$137,705$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$404,181$0$404,181$0
Balance Sheets
20002001200220032004200520062007
Total assets$3,335,438$307,273,161$313,965,823$308,910,120$321,363,285$324,153,098$319,114,392$319,895,204
Cash - non-interest-bearing$160$160$161$160$160$0$0$0
Savings and temporary cash investments$526$224,349$194,378$8,203,822$9,887,011$7,700,229$7,780,468$6,120,855
Accounts receivable less allowance for doubtful accounts$0$442,418$1,477,534$2,834,091$1,106,852$570,477$150,195$168,895
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$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$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$3,213,126$0$0$0$0$0$0
Inventories for sale or use$0$0$2,300$0$0$0$0$0
Prepaid expenses and deferred charges$0$1,381,743$1,367,415$255,774$1,343,444$1,911,709$1,369,445$1,495,345
Investments - publicly-traded securities$74,620,323$88,973,448
Investments - other securities$3,334,752$41,320,293$54,870,889$46,098,478$65,179,712$69,501,074$134,706$155,438
Investments - land, buildings, and equipment less accumulated depreciation$0$256,043,061$254,827,452$243,478,701$199,536,034$195,615,023$179,705,285$179,810,419
Investments - other$0$0$0$0$39,802,857$44,825,339$45,793,566$34,397,540
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Other assets, including program-related investments$0$4,648,011$1,225,694$8,039,094$4,507,215$4,029,247$9,560,404$8,773,264
Total liabilities$0$43,055,364$39,340,173$40,336,193$27,629,745$28,783,781$23,353,637$18,241,734
Accounts payable and accrued expenses$0$1,716,348$1,207,448$1,447,884$1,292,712$1,885,133$2,166,172$1,276,133
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$37,158,229$36,623,706$34,397,105$21,505,828$22,056,182$16,437,761$12,882,237
Other liabilities$0$4,180,787$1,509,019$4,491,204$4,831,205$4,842,466$4,749,704$4,083,364
Total liabilities and net assets/fund balances$3,335,438$307,273,161$313,965,823$308,910,120$321,363,285$324,153,098$319,114,392$319,895,204
Total net assets or fund balances$3,335,438$264,217,797$274,625,650$268,573,927$293,733,540$295,369,317$295,760,755$301,653,470
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$266,727,680$2,769,824$2,043,377$23,862,341$6,110,996$5,550,854$11,052,335
Total revenue, gains, and other support per audited financial statements$0$267,055,372$2,769,824$1,745,980$28,007,363$6,339,392$8,220,136$12,052,159
Other expenses$0$327,692$0$0$4,179,817$2,671,969$2,669,282$999,824
Net unrealized gains on investments$0$0$0$0$4,179,817$2,671,969$2,527,702$999,824
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$327,692$0$0$0$0$141,580$0
Other revenue$0$0$0$297,397$34,795$2,443,573$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$297,397$34,795$2,443,573$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$2,925,370$2,672,244$1,416,085$1,385,405$4,192,046$4,678,738$4,684,945
Total expenses and losses per audited financial statements$0$6,173,013$6,496,555$4,578,077$2,882,545$5,803,683$5,385,124$6,159,444
Other revenue$0$3,247,643$3,824,311$3,161,992$1,497,140$1,611,637$706,386$1,474,499
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$3,247,643$3,824,311$3,161,992$1,497,140$1,611,637$706,386$1,474,499
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$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
20$65,339$5,569$0
6$5,000$0$0
5$5,000$0$0
3$5,000$0$0
3$5,000$0$0
3$5,000$0$0
3$5,000$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings7
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?Yes
Does the organization have a written conflict of interest policy?No
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?No
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)?Yes
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$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20063
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$-395,148$9,913,390$0
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$000$0$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)$2,708,831$0
Net rental income or (loss) from real estate
debt-financed propertyLessors of nonresidential buildings (except miniwarehouses)$-395,14800$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$1,025,096$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))$5,486,358$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$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)$693,105$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
570468454100%$-1,113,029$31,863,067
571117457100%$1,290,548$18,539,600
571118009100%$1,364,074$125,063,199
201808028100%$-361,470$21,428,183
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 organizationType I
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
570314395Furman UniversityYes$1,808,966
570314424Ymca Of GreenvilleOrganization that receives a substantial part of its support from a governmental unit or from the general publicYes$431,381
576019318Community Foundation Of Greenville IncCommunity TrustYes$41,891
Total$4,000,000
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$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$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$0
Net income from unrelated business activities not included above$0$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$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$0
Other income$0$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
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$815,570$1,032,246$216,676
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
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$16,921$0$1,692
Rent income$0$0$0
Unrelated debt-financed income$8,138,781$1,032,246$218,368
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$18,810
Compensation of officers, directors, and trustees$344
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$26
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$18,440
Unrelated business taxable income$235,486
Unrelated business taxable income before net operating loss deduction$235,486
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$235,486
Specific deduction$1,000
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2Hollingsworth Funds Inc124 Verdae Blvd Ste 502, Greenville, SC 29607-3847SC1994-12$58,847,878
3Tigers Unlimited FoundationPO BOX 351, Auburn, AL 36831-0351AL2004-02$45,768,295
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17Dining Divas919 Lansing Drive, Mount Pleasant, SC 29464SC2008-05$0
18Friends Of The Defender Corporation Of Richland County1701 Main St Ste 103, Columbia, SC 29201-2819SC2003-02$0
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Number of organizations performing similar types of work
Alaska1
Alabama15
Arkansas9
Arizona22
California146
Colorado16
Connecticut11
District of Columbia14
Delaware4
Florida54
Georgia29
Hawaii5
Iowa24
Idaho8
Illinois60
Indiana28
Kansas17
Kentucky13
Louisiana10
Massachusetts45
Maryland30
Maine7
Michigan35
Minnesota18
Missouri16
Mississippi10
Montana7
North Carolina70
North Dakota5
Nebraska12
New Hampshire6
New Jersey39
New Mexico9
Nevada9
New York81
Ohio55
Oklahoma19
Oregon24
Pennsylvania61
Rhode Island12
South Carolina16
South Dakota3
Tennessee23
Texas78
Utah10
Virginia40
Vermont1
Washington38
Wisconsin32
West Virginia7
Wyoming3
International3
Total1,310

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