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← EUGENE M COLE FOUNDATION-TRUST

Form 990 for tax year 2022

Filed by EUGENE M COLE FOUNDATION-TRUST.

Totals

Total revenue
$220,472
Total expenses
$220,599
Contributions and grants received
$0
Grants paid
$193,683
Program service revenue
$0
Investment income
$220,472
Other revenue
$0
Total assets, end of year
$3,434,595
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$3,434,595
Program services expenses (Part IX)
$193,683
Management and general expenses
$26,916
Fundraising expenses
$0
Program service expenses (Part III)
$193,683

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $122,464 · related or exempt $122,464

  • 7a · Gross sales of assets other than inventory

    securities $220,599

  • 7b · Less cost or other basis and sales expenses

    securities $122,591

  • 7c · Gain or loss

    securities $98,008

  • 7d · Net gain or loss

    total $98,008 · related or exempt $98,008

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $193,683 · program services $193,683

  • 11f · Fees: investment management

    total $26,916 · management and general $26,916

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1 · end of year $2

  • 12 · Investments: other securities

    beginning of year $3,434,721 · end of year $3,434,593

  • 29 · Capital stock, trust principal or current funds

    beginning of year $3,339,501 · end of year $3,339,501

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $95,221 · end of year $95,094

Mission and programs · 2022

Mission

NONE

Activities or mission (Part I)

PROVIDE AID TO SUPERANNUATED UNITED METHODIST MINISTERS OF WESTERN NORTH CAROLINA. FUNDS ARE DISBURSED MONTHLY FOR THEIR SUPPORT TO HELP MEET THE COST OF GROUP HEALTH INSURANCE PROVIDED THROUGH THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH.

  • THESE FUNDS WERE DISBURSED IN MONTHLY PAYMENTS TO THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH TO BE APPLIED AGAINST HEALTH BENEFITS PAID ON BEHALF OF RETIRED UNITED METHODIST MINISTERS AND THEIR WIDOWS.

    Expenses $193,683 · Grants $193,683

As filed on the 2022 return.

Listed in Part VII

  • R Tony Orsbon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Douglas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
4 April 2024
IRS schema version
2022v5.0
Source object
202410959349301131

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