Herschel H And Cornelia N Everett Foundation 1019897443 in Charlotte, North Carolina (NC)

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Herschel H And Cornelia N Everett Foundation 1019897443
Employer Identification Number (EIN)566093697
Name of OrganizationHerschel H And Cornelia N Everett Foundation 1019897443
In Care of NameMatthew Johnson 1st Union Natl Ba
Address1525 W Wt Harris Blvd D1114-044, Charlotte, NC 28288-0001
ActivitiesOther school related activities, Gifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date07/2002
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationTrust
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$3,748,281
Amount of Income$557,063
Form 990 Revenue Amount$307,439
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2012: $557,063 (it was $1,733,743 in 2011)
Herschel H And Cornelia N Everett Foundation 1019897443: 

 $557,063
Other organizations performing similar types of work: 

 $97,434

Assets in 2012: $3,748,281 (it was $3,652,350 in 2011)
This organization: 

 $3,748,281
Other organizations performing similar types of work: 

 $303,611

Financial snapshot ($)

Revenue for 2012

Expenses for 2012

Assets for 2012

Analysis of Revenue and Expenses (for 2012)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$307,439$307,439$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$127,172
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Other$180,267
Total expenses and disbursements$202,815$33,002$0$163,212
Compensation of officers, directors, trustees, etc.$40,848
Total operating and administrative expenses$49,815$33,002$10,212
Contributions, gifts, grants paid$153,000
Excess of revenue over expenses and disbursements$104,624
Net investment income$274,437
Adjusted net income$0
Balance Sheets (for 2012)
Book ValueFair Market Value
Total assets$3,748,281$4,367,191
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$0
Investments-corporate stock$2,115,779
Investments-corporate bonds$203,268
Investments-mortgage loans$0
Investments-other$1,230,179
Other$199,055
Total liabilities$1
Mortgages and other notes payable$0
Other$1
Total liabilities and net assets/fund balances$3,748,281
Capital Gains and Losses for Tax on Investment Income (for 2012)
Capital gain net income$180,267
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$5,489
Total credits and payments$4,200
2012 estimated tax payments and 2011 overpayment credited to 2012$4,200
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$1,289
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?Yes
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$4,324,010
Net value of noncharitable-use assets$4,259,160
Minimum investment return$212,958
Distributable Amount (for 2012)
Distributable amount$207,469
Undistributed Income (for 2012)
Distributable amount for 2012$207,469
Undistributed income for 2012. This amount must be distributed in 2013$0
Private Operating Foundations (for 2012)
2012201120102009Total
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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5United Israel Appeal Of Canada IncToronto On M2r 3v3, Canadainternational2001-05$54,245,721
6United Methodist Retirement Homes Incorporated2600 Croasdaile Farm Pkwy No A-500, Durham, NC 27705-1331NC2011-08$46,081,175
7Charles A Cannon Charitable Trust No One1525 W Wt Harris Blvd D1114, Charlotte, NC 28288-0001NC1981-09$43,447,640
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14Porter B Byrum Charitable Tr, Porter B Byrum TteePO BOX 11795, Charlotte, NC 28220-1795NC2008-08$37,994,516
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16James R & Bonnie L Braswell Tr, Bower George W Jr Ttee300 E Wade St, Wadesboro, NC 28170-2231NC2002-05$14,858,368
17Northwest North Carolina Community FoundationPO BOX 4299, Winstonsalem, NC 27115-4299NC2006-06$12,295,292
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22Greg And India Keith Foundation5201 Gorham Dr, Charlotte, NC 28226-6407NC2005-12$3,271,105
23Kean Hartquist Foundation17404 B Randalls Ferry Rd, Norwood, NC 28128-7460NC1999-03$2,794,618
24E T Rollins Jr And Frances Prollins Foundation3511 Shannon Rd Ste 140, Durham, NC 27707-6340NC2007-09$2,638,573
25Duke University Philanthropies Inc324 Blckwll St Wash Bldg Ste 920, Durham, NC 27701NC2005-02$2,592,959
26Caroline J S Sanders Charitable Trust Ii 65147071525 W Wt Harris Blvd D1114-044, Charlotte, NC 28288-0001NC2000-03$2,473,880
27Hayes Family Charitable Tr, Robert Hayes Jr Ttee220 N Tryon St, Charlotte, NC 28202-2137NC2008-02$2,305,092
28Carrie E And Lena V Glenn Foundation Inc1552 Union Rd Ste D, Gastonia, NC 28054-5523NC2005-03$2,287,802
29Nivison Family Foundation4104 Atlantic Ave Ste 140, Raleigh, NC 27604-1803NC2005-03$2,268,412
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Number of organizations performing similar types of work
Alaska25
Alabama192
Arkansas70
Arizona288
California2,416
Colorado378
Connecticut382
District of Columbia106
Delaware539
Florida1,396
Georgia456
Hawaii80
Iowa165
Idaho53
Illinois1,024
Indiana284
Kansas148
Kentucky156
Louisiana146
Massachusetts669
Maryland401
Maine82
Michigan596
Minnesota362
Missouri307
Mississippi62
Montana62
North Carolina519
North Dakota20
Nebraska159
New Hampshire72
New Jersey843
New Mexico87
Nevada190
New York2,482
Ohio691
Oklahoma217
Oregon198
Pennsylvania1,160
Rhode Island172
South Carolina161
South Dakota27
Tennessee240
Texas1,146
Utah259
Virginia453
Vermont52
Washington359
Wisconsin355
West Virginia66
Wyoming57
International34
Total20,864

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