Hart Charitable Trust, Hart Carolyn R Ttee in Chattanooga, Tennessee (TN)

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Hart Charitable Trust, Hart Carolyn R Ttee
Employer Identification Number (EIN)626286248
Name of OrganizationHart Charitable Trust
Secondary NameHart Carolyn R Ttee
In Care of NameStophel & Stophel
Address1200 Premier Dr Ste 260, Chattanooga, TN 37421-3744
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date01/1995
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$25,000 to $99,999
Income$10,000 to $24,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$92,382
Amount of Income$10,130
Form 990 Revenue Amount$23,867
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Public Foundations


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Amount of income in 2014: $10,130 (it was $27,502 in 2013)
Hart Charitable Trust, Hart Carolyn R Ttee: 

 $10,130
Other organizations performing similar types of work: 

 $124,396

Assets in 2014: $92,382 (it was $77,926 in 2013)
This organization: 

 $92,382
Other organizations performing similar types of work: 

 $313,863

Expenses in 2014: $5,068
This organization: 

 $5,068
Other organizations performing similar types of work: 

 $64,100

Income to expenses ratio in 2014: 2.0
This organization: 

 2.0
Other organizations performing similar types of work: 

 1.5

Grants share in income in 2014: 0.0%
Hart Charitable Trust, Hart Carolyn R Ttee: 

 0.0%
Other organizations performing similar types of work: 

 0.6%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Expenses for 2014

Analysis of Revenue and Expenses (for 2014)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$4,751$4,751$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$1
Dividends and interest from securities$2,231
Gross rents$0
Gross sales price for all assets$7,898
Gross profit from sales of goods$0
Other income$0
Other$2,519
Total expenses and disbursements$5,068$0$0$4,000
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$1,005
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$1,068$0$0
Contributions, gifts, grants paid$4,000
Excess of revenue over expenses and disbursements$-317
Net investment income$4,751
Adjusted net income$0
Balance Sheets
2011201220132014
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$50,941$50,941$69,630$69,630$77,926$77,926$92,382$92,382
Cash - non-interest-bearing$70$376$252$252
Investments-U.S. and state government obligations$0$0$0$0
Investments-corporate stock$49,729$64,812$70,330$84,635
Investments-corporate bonds$0$0$0$0
Investments-mortgage loans$0$0$0$0
Investments-other$0$0$0$0
Other assets$0$0
Total liabilities$0$0$0$4,000
Mortgages and other notes payable$0$0$0$0
Other liabilities$0$4,000
Total liabilities and net assets/fund balances$50,941$69,630$77,926$88,382
Capital Gains and Losses for Tax on Investment Income
2011201220132014
Capital gain net income$0$0$1,080$2,519
Net capital loss$0$0$0$0
Excise Tax Based on Investment Income
2011201220132014
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNoNo
Tax based on investment income$12$26$63$95
Total credits and payments$0$0$0$0
Any penalty for underpayment of estimated tax$0$0$0$0
Tax due$63$95
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0$0
Statements Regarding Activities
2011201220132014
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?NoNoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?NoNoNoNo
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
2011201220132014
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNoNo
Agree to pay money or property to a government official?NoNoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNoNo
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)?NoNoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
2011201220132014
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$51,094$60,474$74,835$84,397
Net value of noncharitable-use assets$73,712$83,131
Minimum investment return$2,516$2,978$3,686$4,157
Distributable Amount
2011201220132014
Distributable amount$2,504$2,952$3,623$4,062
Undistributed Income
2011201220132014
Distributable amount for this year$2,504$2,952$3,623$4,062
Undistributed income for this year. This amount must be distributed in the next year$2,504$2,943$3,566$3,628
Private Operating Foundations (for 2011 - 2014)
2014201320122011Total
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
Supplementary Information (for 2014)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2014)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2014)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Tony Patino Fellowship Trust 783352PO BOX 1297, New York, NY 10008-1297NY1997-10$1,573,984
2Pakis Family Foundation2201 E Camelback Rd Ste 405b, Phoenix, AZ 85016-3431AZ1997-02$27,278,652
3Canale Foundation Inc1900 Union Ave, Memphis, TN 38104-4029TN1997-03$1,280,390
4Antiques And Garden Show Of Nashville IncPO BOX 50950, Nashville, TN 37205-0950TN1992-06$961,561
5Jack D Gallaher Charitable Tr1111 North Shore Dr Ste S130, Knoxville, TN 37919-4060TN1995-08$780,679
6Maryville City Schools Foundation Inc402 Melrose St, Maryville, TN 37803-4816TN1991-04$373,922
7Hamblen County Foundation For Educationalexcellence And, Hc ExcellPO BOX 2156, Morristown, TN 37816-2156TN1991-12$268,343
8Bristol Tennessee City Schools Foundation615 Martin Luther King Jr Blvd, Bristol, TN 37620-3681TN1995-02$202,245
9Don R Elliott Foundation33 Music Square West, Nashville, TN 37203-3226TN1998-10$190,112
10Mcminn County Educational And Community FoundationPO BOX 2, Athens, TN 37371-0002TN1997-12$80,006
11Lincoln County Band BoostersPO BOX 804, Fayetteville, TN 37334-0804TN1998-04$69,264
12Angel Tree Inc, Angel Tree1035 Data Ln, Knoxville, TN 37932-2570TN1996-11$62,863
13The Kingston Century Club IncPO BOX 104, Kingston, TN 37763TN1992-02$57,266
14Shamblin Foundation308 Seaboard Ln, Franklin, TN 37067-8242TN1997-09$1
15Association For A Global Peace ConferencePO BOX 934, Millington, TN 38083-0934TN1993-10$0
16Beyond The Boundaries Inc1548 Poplar Avenue, Memphis, TN 38104TN1992-10$0
17Casa Shalom Inc3005 Pine Dr Ne, Cleveland, TN 37312TN1991-01$0
18Lifewalk 2000246 S Watkins St, Memphis, TN 38104-6714TN1998-08$0
19Marcus Robertson Childrens FoundationPO BOX 120235, Nashville, TN 37212-0235TN1995-07$0
20The Adams-Carter Historical Preservation Fund2251 Vales Mill Rd, Pulaski, TN 38478-5524TN1993-04$0
Number of organizations performing similar types of work
Alaska1
Alabama23
Arkansas17
Arizona20
California78
Colorado16
Connecticut12
District of Columbia7
Delaware4
Florida100
Georgia36
Hawaii1
Iowa6
Idaho2
Illinois47
Indiana34
Kansas15
Kentucky15
Louisiana18
Massachusetts30
Maryland32
Maine6
Michigan48
Minnesota11
Missouri26
Mississippi13
Montana1
North Carolina53
North Dakota3
Nebraska5
New Jersey46
New Mexico3
Nevada7
New York83
Ohio38
Oklahoma12
Oregon9
Pennsylvania42
Rhode Island6
South Carolina19
South Dakota2
Tennessee23
Texas57
Utah17
Virginia20
Washington11
Wisconsin16
West Virginia1
Wyoming6
International3
Total1,101

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