Olive Tree Foundation in Dataw Island, South Carolina (SC)

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Olive Tree Foundation
Employer Identification Number (EIN)582359736
Name of OrganizationOlive Tree Foundation
In Care of NameEisner & Lubin Llp
Address28 Sparrow Nest Pt, Dataw Island, SC 29920-3075
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization, Educational Organization
Ruling Date02/1998
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$500,000 to $999,999
Income$100,000 to $499,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$724,546
Amount of Income$256,400
Form 990 Revenue Amount$46,494
National Taxonomy of Exempt Entities (NTEE)Philanthropy, Voluntarism and Grantmaking Foundations: Private Grantmaking Foundations


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Amount of income in 2013: $256,400 (it was $61,125 in 2012)
This organization: 

 $256,400
Other organizations performing similar types of work: 

 $153,770

Assets in 2013: $724,546 (it was $695,475 in 2012)
This organization: 

 $724,546
Other organizations performing similar types of work: 

 $516,948

Expenses in 2013: $59,105
This organization: 

 $59,105
Other organizations performing similar types of work: 

 $60,348

Income to expenses ratio in 2013: 4.3
This organization: 

 4.3
Other organizations performing similar types of work: 

 2.2

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$88,176$53,765$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
Dividends and interest from securities$29,193
Gross rents$0
Gross sales price for all assets$221,989
Gross profit from sales of goods$0
Other income$5,218
Other$53,765
Total expenses and disbursements$59,105$12,528$0$46,381
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$1,950
Interest$0
Depreciation$0
Occupancy$0
Travel, conferences, and meetings$7,931
Printing and publications$0
Total operating and administrative expenses$22,605$12,528$9,881
Contributions, gifts, grants paid$36,500
Excess of revenue over expenses and disbursements$29,071
Net investment income$41,237
Adjusted net income$0
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$661,999$896,908$695,475$950,405$724,546$1,147,459
Cash - non-interest-bearing$2,726$2,174$4,698
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$535,893$493,928$594,810
Investments-corporate bonds$77,225$76,836$46,586
Investments-mortgage loans$0$0$0
Investments-other$31,326$94,116$60,035
Other assets$0$0
Total liabilities$1$1$1
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$661,999$695,475$724,546
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$13,818$15,616$53,765
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$116$264$825
Total credits and payments$269$153$0
Any penalty for underpayment of estimated tax$0$0$5
Tax due$111$830
Overpayment$0$0
Amount to be credited to next year's estimated tax$153$0$0
Statements Regarding Activities
201120122013
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?NoNoNo
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?YesYes
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
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?NoNoNo
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
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
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?NoNoNo
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?NoNoNo
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?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
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))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
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)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
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
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$900,526$945,713$1,069,021
Net value of noncharitable-use assets$920,713$1,044,021
Minimum investment return$44,351$46,036$52,201
Distributable Amount
201120122013
Distributable amount$44,235$45,746$51,376
Undistributed Income
201120122013
Distributable amount for this year$44,235$45,746$51,376
Undistributed income for this year. This amount must be distributed in the next year$13,003$18,699$23,694
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
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 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
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$29,193$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
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
1Kenneth Rainin Foundation155 Grand Ave Ste 1000, Oakland, CA 94612-3779CA1998-05$137,313,204
2Neil And Anna Rasmussen Foundation, Rasmussen Neil Ttee393 Estabrook Rd, Concord, MA 01742-5614MA1995-11$52,133,679
3Foglia Family Foundation190 S Lasalle St Ste 1700, Chicago, IL 60603-3496IL1995-04$42,643,402
4Abram And Ray Kaplan Foundation1401 Route 35, South Salem, NY 10590-1627NY1995-05$37,301,854
5Albert And Margaret Alkek Foundation1100 Louisiana St Ste 5250, Houston, TX 77002-5100TX1996-12$36,318,794
6First Hand Foundation2800 Rockcreek Pkwy, Kansas City, MO 64117-2521MO1996-01$19,353,030
7E H A Foundation Inc101 Park Ave Fl 30, New York, NY 10178-3099NY1996-10$12,694,059
8Crain FoundationPO BOX 2146, Longview, TX 75606-2146TX1997-05$12,151,018
9Ring Foundation12301 Wilshire Boulevard, Los Angeles, CA 90025-1007CA1995-09$11,575,499
10Ernest E Stempel Foundation, Calvin P Stempel Trustee150 Broadway Rm 1102, New York, NY 10038-4367NY1995-05$10,580,594
11James And Judith K Dimon Foundation10 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1997-02$9,100,771
12Herman And Patsy Smith Charitable Foundation3700 Cheek Sparger Rd Ste 180, Bedford, TX 76021-3058TX1996-09$8,530,020
13Galena Foundation4725 S Monaco Street, Denver, CO 80237-3482CO1996-12$7,650,700
14Chia Family Foundation Inc7801 Blue Heron Way, West Palm Bch, FL 33412-3149FL1996-12$7,077,305
15Chris Dialynas Family Foundation3300 Irvine Ave Ste 235, Newport Beach, CA 92660-3101CA1996-12$6,693,911
16Buhl Family Foundation Inc, Merritt Raymond W Ttee114 Green Street, New York, NY 10012-3829NY1990-11$6,560,566
17Olive Tree Foundation28 Sparrow Nest Pt, Dataw Island, SC 29920-3075SC1998-02$256,400
18Judy Bradshaw Childrens Foundation424 E Kennedy St, Spartanburg, SC 29302-1916SC1998-08$40,324
19Esther P Young Charitable Foundation104 Grande Oaks Ct, Simpsonville, SC 29681-4716SC1998-05$18,979
20Fat Cat Foundation, Faucette Harriott Hampton TteeC/O Sellars Cole Bachkosky, Columbia, SC 29205SC1997-12$595
Number of organizations performing similar types of work
Alabama4
Arkansas2
Arizona14
California43
Colorado15
Connecticut26
District of Columbia4
Delaware3
Florida32
Georgia10
Iowa8
Idaho1
Illinois35
Indiana3
Kansas5
Kentucky3
Louisiana1
Massachusetts52
Maryland6
Maine5
Michigan11
Minnesota13
Missouri8
Mississippi3
Montana2
North Carolina12
North Dakota1
Nebraska3
New Hampshire6
New Jersey30
New Mexico3
Nevada4
New York181
Ohio13
Oklahoma8
Oregon4
Pennsylvania26
Rhode Island10
South Carolina5
Tennessee8
Texas62
Utah10
Virginia13
Washington14
Wisconsin11
West Virginia3
Wyoming2
International2
Total740

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