Second Presbyterian Church Foundation Inc in Memphis, Tennessee (TN)

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Second Presbyterian Church Foundation Inc
Employer Identification Number (EIN)621744695
Name of OrganizationSecond Presbyterian Church Foundation Inc
In Care of NameSecond Presbyterian Church
Address4055 Poplar Ave, Memphis, TN 38111-6022
ActivitiesOther religious activities
SubsectionCharitable Organization
Ruling Date08/1998
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 Period06/2012
Assets$10,000,000 to $49,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$17,076,401
Amount of Income$873,175
Form 990 Revenue Amount$873,175
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Christian


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Amount of income in 2012: $873,175
This organization: 

 $873,175
Other organizations performing similar types of work: 

 $121,427

Assets in 2012: $17,076,401
This organization: 

 $17,076,401
Other organizations performing similar types of work: 

 $102,900

Expenses in 2007: $2,136,911
Second Presbyterian Church Foundation Inc: 

 $2,136,911
Other organizations performing similar types of work: 

 $266,031

Income to expenses ratio in 2007: 1.1
Second Presbyterian Church Foundation Inc: 

 1.1
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 88.5%
Second Presbyterian Church Foundation Inc: 

 88.5%
Other organizations performing similar types of work: 

 78.2%

Grants share in income in 2007: 82.8%
This organization: 

 82.8%
Other organizations performing similar types of work: 

 96.9%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2001200220032004200520062007
Total revenue$920,001$1,777,777$2,798,499$4,014,813$2,944,048$2,423,288$2,297,808
Contributions, gifts, grants, and similar amounts received$1,280,040$1,638,206$1,634,741$3,528,925$1,950,100$1,959,314$1,902,291
Contributions to donor advised funds$1,410,677$1,657,613
Direct public support$1,280,040$1,638,206$1,634,741$3,528,925$1,950,100$548,637$244,678
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0$0$0$0
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0$0$0$0
Dividends and interest from securities$248,059$237,202$272,383$295,103$404,330$463,974$395,517
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$-608,098$0$891,375$190,785$589,618$0$0
Gain or (loss) from sales of assets other than inventory$0$-97,631$0$0$0$0$0
Gross amount from sales of assets other than inventory$0$0$0$0$0$0$0
Less: cost or other basis and sales expenses$0$97,631$0$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Total expenses$1,217,327$1,084,845$1,353,656$839,609$1,783,878$1,522,146$2,136,911
Program services$1,111,153$995,535$1,246,934$720,324$1,629,904$1,329,677$1,890,971
Management and general$93,939$83,185$102,437$114,581$141,003$192,469$245,940
Fundraising$12,235$6,125$4,285$4,704$12,971$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$8,508,214$9,201,146$10,645,989$13,821,193$14,981,363$18,208,937$18,577,471
Excess or (deficit) for the year$-297,326$692,932$1,444,843$3,175,204$1,160,170$901,142$160,897
Net assets or fund balances at beginning of year$9,059,556$8,508,214$9,201,146$10,645,989$13,821,193$14,981,363$18,208,937
Other changes in net assets or fund balances$-254,016$0$0$0$0$2,326,432$207,637
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,136,911$1,890,971$245,940$0
Grants paid from donor advised funds$1,890,971
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$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$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$19,900$0$19,900$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$14$0$14$0
Travel$0$0$0$0
Conferences, conventions, and meetings$19,396$0$19,396$0
Interest$0$0$0$0
Depreciation, depletion, etc.$1,637$0$1,637$0
Other expenses not covered above$204,993$0$204,993$0
Balance Sheets
2001200220032004200520062007
Total assets$8,880,706$9,564,692$10,929,381$14,106,671$15,412,925$18,629,336$18,985,792
Cash - non-interest-bearing$0$0$0$0$4,852,190$0$0
Savings and temporary cash investments$1,218,838$1,601,889$1,396,497$1,871,293$0$2,359,878$990,849
Accounts receivable less allowance for doubtful accounts$0$0$259,324$188,226$192,853$160,201$160,201
Pledges receivable less allowance for doubtful accounts$536,689$532,558$316,474$1,021,998$722,737$324,775$318,960
Grants receivable$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
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$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0$0
Investments - publicly-traded securities$14,110,568$14,706,135
Investments - other securities$7,059,638$7,373,794$8,887,148$10,944,542$9,554,243$1,527,548$2,688,649
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$15,555$13,918
Other assets, including program-related investments$65,541$56,451$69,938$80,612$90,902$130,811$107,080
Total liabilities$372,492$363,546$283,392$285,478$431,562$420,399$408,321
Accounts payable and accrued expenses$294,852$258,854$208,392$198,728$378,062$0$0
Grants payable$77,640$104,692$75,000$86,750$53,500$50,000$79,582
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$370,399$328,739
Total liabilities and net assets/fund balances$8,880,706$9,564,692$10,929,381$14,106,671$15,412,925$18,629,336$18,985,792
Total net assets or fund balances$8,508,214$9,201,146$10,645,989$13,821,193$14,981,363$18,208,937$18,577,471
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2001200220032004200520062007
Total revenue$920,001$1,777,777$2,798,499$4,014,813$2,944,048$2,423,288$2,297,808
Total revenue, gains, and other support per audited financial statements$920,001$1,777,777$2,798,499$4,014,813$2,944,048$4,749,720$2,505,445
Other expenses$0$0$0$0$0$2,326,432$207,637
Net unrealized gains on investments$0$0$0$0$0$2,326,432$207,637
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2001200220032004200520062007
Total expenses$1,217,327$1,084,845$1,353,656$839,609$1,783,878$1,522,146$2,136,911
Total expenses and losses per audited financial statements$1,471,343$1,084,845$1,353,656$839,609$1,783,878$1,522,146$2,136,911
Other revenue$254,016$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$254,016$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings16
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?No
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?No
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?Yes
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)?No
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, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$395,517$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)$395,517$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$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$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
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?Yes
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
Enter the total number of donor advised funds owned at the end of the tax year$6
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$3,427,010
Enter 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
Enter 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
620483212Second Presbyterian ChurchYes$1,162,518
0$0
Total$1,162,518
Support Schedule
2000200120022003200420052006
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$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
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
Other income$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
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$991,347
Contributions, Gifts, Grants and Other Similar Amounts$810,548
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$180,799
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$1,605,024
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$1,605,024
Balance Sheet (for 2011)
Total assets$18,120,133
Total liabilities$292,660
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$292,660
Total net assets or fund balances$17,827,473
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
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)
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Fairview Ministries Inc210 Village Dr, Downers Grove, IL 60516-3036IL1989-12$4,074,757
2Maranatha Bible And Missionary Conference Inc4759 Lake Harbor Rd, Norton Shores, MI 49441-5284MI1945-09$3,140,720
3Ariel Ministries11926 Radium St, San Antonio, TX 78216-2713TX1977-09$2,327,234
4Comunidade Evangelica Vida Abundante Inc, Abundant Life Evangelical Community627 Schuyler Ave, Kearny, NJ 07032-4201NJ1997-08$873,524
5Second Presbyterian Church Foundation Inc4055 Poplar Ave, Memphis, TN 38111-6022TN1998-08$873,175
6Mission Of Love Charities Incorporated6180 Old Central Ave, Capitol Heights, MD 20743-6148MD1992-08$834,682
7Koinonia Christian Ministries205 East State Street, Kennett Square, PA 19348-3111PA1975-09$269,215
8Friends Of Creation Spirituality IncPO BOX 422964, San Francisco, CA 94142-2964CA1985-04$160,425
9American Remnant Mission Inc140 Mayhew Way Ste 504, Pleasant Hill, CA 94523-4371CA1977-12$97,699
10Lifeline Ministries Inc27 Daria Ct, Timonium, MD 21093-3045MD1989-12$78,924
11Precept Ministries Of Reach Out IncPO BOX 182218, Chattanooga, TN 37422-7218TN1970-08$14,886,575
12Love Worth Finding Ministries IncPO BOX 38300, Germantown, TN 38183-0300TN1987-10$6,347,950
13Artists In Christian TestimonyPO BOX 1649, Brentwood, TN 37024-1649TN1982-01$2,138,226
14International Christian Embassy JerusalemPO BOX 332974, Murfreesboro, TN 37133-2974TN1986-12$1,861,739
15Crist Family MinistriesPO BOX 1205, Maynardville, TN 37807-1205TN1991-04$338,809
16Church Of The HarvestPO BOX 4252, Cleveland, TN 37320-4252TN1990-01$321,061
17Baptist Center For EthicsPO BOX 150506, Nashville, TN 37215-0506TN1992-05$289,931
18Living Stones Ministry, 13568PO BOX 28346, Chattanooga, TN 37424-8346TN1998-12$246,569
19Inasmuch Inc9231 Lee Hwy, Ooltewah, TN 37363-8785TN1997-05$223,815
20Partnership Ministries Inc2479 Murfreesboro Pike 250, Nashville, TN 37217-3554TN1997-07$167,778
Number of organizations performing similar types of work
Alaska20
Alabama89
Arkansas55
Arizona138
California1,197
Colorado179
Connecticut75
District of Columbia36
Delaware25
Florida493
Georgia246
Hawaii55
Iowa41
Idaho30
Illinois300
Indiana296
Kansas70
Kentucky140
Louisiana91
Massachusetts103
Maryland183
Maine19
Michigan355
Minnesota98
Missouri164
Mississippi50
Montana24
North Carolina231
North Dakota12
Nebraska32
New Hampshire20
New Jersey263
New Mexico49
Nevada49
New York580
Ohio411
Oklahoma153
Oregon94
Pennsylvania270
Rhode Island9
South Carolina73
South Dakota11
Tennessee142
Texas745
Utah13
Virginia167
Vermont3
Washington160
Wisconsin94
West Virginia40
Wyoming10
International12
Total8,215

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